The North Korean-linked Lazarus Group has adopted a new method of breaching crypto firms: sending cryptocurrency to their targets as part of an elaborate social engineering scheme. According to 23pds, the pseudonymous Chief Information Security Officer (CISO) at Web3 security firm SlowMist, this tactic aims to gain the victim’s trust before deploying malicious code. 23pds…
Bybit CEO Ben Zhou said Thursday that his exchange will not list the Pi Network’s PI token, which was controversially released on Thursday, citing a Chinese police warning from 2023 that alleged the project was a scam targeting elderly people, leaking their personal information and leading to the loss of their pensions. “There are multiple…
Base, the layer-2 network of the largest American crypto exchange, Coinbase, is facing tough times following the chain’s strong entrance into the market over a year ago. Data from the market analytics platform IntoTheBlock shows that the Base ecosystem is under pressure, a challenge driven by the market’s recent dip. Base Ecosystem Under Pressure After…
Bybit CEO Ben Zhou confirmed in a Friday livestream that the $1.5 billion hack against his crypto exchange lost the firm the vast majority of its customers’ ETH holdings. “I believe it was around seventy percent,” Zhou told viewers, when asked how much was lost relative to the company’s ETH assets under management. “We normally…
Blockchain analytics firm Arkham Intelligence said North Korea’s Lazarus Group was behind Bybit’s $1.46 billion hack, which onchain sleuth ZachXBT identified. In an earlier post on social media platform X, Arkham offered a bounty of 50,000 ARKM tokens for anyone who could identify the attackers for Friday’s hack. Later, the platform said ZachXBT submitted “definitive…
A group of US senators, led by Cynthia Lummis, has urged the Securities and Exchange Commission (SEC) to clarify its position on protocol staking in crypto exchange-traded products (ETPs) in a Feb. 20 letter. The lawmakers are seeking answers regarding the exclusion of staking from ETP issuers’ S-1 filings, which they argue impacts the competitiveness…
Following the controversy around the LIBRA token, Solana-based token launchpad Pump.fun registered significant decreases in weekly values for new users, token launches, and fees collected. According to a Dune Analytics dashboard by user evelyn233, the number of new users onboarded in the launchpad fell 16.4% to 601,516 from 719,524 between Feb. 7 and Feb. 13. This…
As the details around perhaps the largest hack in the cryptocurrency industry continue to unravel, BTC’s price has started to crash once again, falling by over four grand since today’s peak. With the altcoins in a similar state, it’s no wonder that the total value of liquidated positions has skyrocketed to over $600 million on…
Only a handful of hours ago crypto markets were buoyed as the Securities and Exchange Commission signaled its intent its dismiss a lawsuit against Coinbase (COIN). The welcome regulatory news sparked 5% gains for COIN and the likes of increasingly important crypto trading platform Robinhood (HOOD), and sent bitcoin (BTC) breaking out of its recent…
The financial regulator also appears to be easing up or pausing its rafts of ongoing litigation against crypto companies. However, those with imminent deadlines may still be on the table. “I’m told by multiple legal sources that the SEC has been prioritizing cases with imminent court deadlines, which is one explanation for why we haven’t…