Monero’s Community Crowdfunding System (CCS) recently fell victim to a malicious attack, resulting in the loss of its entire balance of 2,675.73 Monero (XMR). This devastating breach, which occurred on September 1, 2023, was only disclosed to the public on November 2, sending shockwaves through the Monero community. With Monero’s current market price at $167 per XMR, the lost funds amount to nearly $460,000. The Unidentified Culprit Monero developer Luigi, along with Ricardo “Fluffypony” Spagni, were the only individuals with access to the wallet seed phrase. However, despite their best efforts, the source of the breach remains a mystery. Luigi…
Author: Rea K.
In a recent report by Immunefi, alarming statistics reveal that the world of blockchain and cryptocurrencies remains a breeding ground for hackers and fraudsters. From January to October 2023, a staggering $1.41 billion was lost to hacking and fraudulent activities in 292 specific incidents. The month of October 2023 alone witnessed losses amounting to approximately $22.2 million, primarily attributed to hacking and fraud, sending shockwaves through the crypto community. Blockchain Battleground The report highlights that the two most frequently targeted blockchain networks during this period were BNB Chain and Ethereum, accounting for a whopping 83.3% of the total losses among…
A new malware threat has emerged in the cybersecurity landscape, targeting cryptocurrency enthusiasts and engineers who use Apple’s macOS. This sophisticated malware, known as “KandyKorn,” has been linked to the notorious North Korean hacking group Lazarus. Its discovery has raised concerns about the evolving tactics employed by malicious actors to compromise the security of cryptocurrency exchange platforms. KandyKorn: The Stealthy Threat KandyKorn is a stealthy backdoor malware with a wide range of capabilities, making it a formidable adversary. According to an analysis conducted by Elastic Security Labs, this malicious software is capable of data retrieval, directory listing, file upload/download, secure…
St.Galler Kantonalbank (SGKB), one of Switzerland’s largest and oldest banks, is diving headfirst into the world of cryptocurrencies. Partnering with SEBA Bank, a global cryptocurrency-focused financial institution, SGKB is now offering its clients the ability to trade Bitcoin and Ether, marking its entry into the digital asset industry. Founded in 1868, St.Galler Kantonalbank is a well-established Swiss regional bank with a reputation for providing a wide range of financial services, from retail and commercial banking to private and institutional banking. As of the end of 2022, it managed a substantial 53.6 billion Swiss francs ($58.9 million). This partnership with SEBA…
In a riveting conclusion to the United States v. Sam Bankman-Fried trial, the prosecution and defense presented their closing arguments on Day 17, leaving the jury to weigh the fate of the FTX founder. The trial revolves around FTX’s multi-billion dollar collapse, with prosecutors accusing Bankman-Fried of constructing a “pyramid of lies” to build his crypto empire. Prosecution’s Case: A Web of Deception Assistant United States Attorney (AUSA) Nicholas Roos summarized the government’s case, highlighting Bankman-Fried’s alleged deceit and fraud perpetrated against thousands of FTX customers who deposited billions into the now-defunct crypto exchange. Roos argued that Bankman-Fried knowingly orchestrated…
Blockchain gaming firm Sky Mavis is expanding its reach by collaborating with Korean publisher ACT Games to bring ACT’s titles to the Ronin network, an Ethereum sidechain. The strategic partnership is set to usher in a new era of web2 gaming within the blockchain ecosystem. ACT Games and Its Impressive Licensing Deals ACT Games, a prominent publisher in the gaming industry, boasts a portfolio brimming with Japanese intellectual properties. Among their impressive collection are popular titles like Aggretsuko and Bubble Bobble. The spotlight, however, shines on their latest venture: Zoids Wild Arena, a trading card game (TCG) based on Japanese…
Cryptocurrency enthusiasts faced a moment of anxiety on November 2, 2023, as two leading crypto exchanges, Kraken and Gate, experienced unexpected withdrawal downtimes. In a rapidly evolving digital landscape, such incidents serve as a stark reminder of the importance of secure crypto storage and the need for users to remain informed and proactive. Kraken, a globally recognized crypto exchange, underwent a 40-minute withdrawal freeze, leaving users temporarily unable to access their digital assets. Fortunately, the company acted swiftly, reporting that a fix had been implemented, and normal service was restored. This hiccup nearly coincided with scheduled maintenance at 08:00 UTC,…
Bittrex has received court approval to cease its operations in the United States and liquidate its assets. The decision comes in response to a challenging regulatory environment in the country, making continued operations unsustainable. A Long-Standing Presence Comes to an End After nearly a decade of serving customers in the United States, Bittrex is set to wind down its operations in the country. The US Bankruptcy Court for the District of Delaware approved Bittrex’s revised Chapter 11 bankruptcy plan, marking the end of an era for the company’s US-based business. Bittrex’s decision to exit the US market was driven by…
FTX and Alameda Research transferred a significant sum of $13.6 million to Binance and Coinbase on November 1. This transfer follows the backdrop of legal battles and allegations surrounding Sam Bankman-Fried, the founder of FTX, including accusations of fraud and misuse of funds. Massive Deposits of EVM Tokens Continue The transfer involved FTX depositing a substantial $8.12 million worth of three assets into Coinbase. These assets included 46.5 million GRT valued at $4.85 million, 972,073 RNDR worth $2.3 million, and 708.1 MKR with a value of $967,000. Just three hours later, another round of deposits totaling $5.49 million occurred, consisting…
Inflows into the crypto market have surged to a 15-month high, driven by the optimism surrounding the potential approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States. CoinShares’ latest weekly report reveals that crypto investment products saw an impressive inflow of $326 million, marking the largest weekly influx since July 2022. This surge in investments represents the fifth consecutive week of positive momentum, pushing the month-to-date total to approximately $484 million. Consequently, it has pushed the overall assets under management in the crypto space to a staggering $37.8 billion, its highest point since May 2022. Rising Optimism…