At least 25 individuals have reportedly fallen victim to a data breach that affected password storage software LastPass, resulting in the loss of $4.4 million in cryptocurrency across 80 wallets. The breach occurred in 2022, but its impact was felt in October 2023 when the compromised wallets were tracked by on-chain researcher ZachXBT and MetaMask […]
Users of the LastPass password manager application have suffered a significant loss of $4.4 million worth of crypto assets in a single day. This comes a year after LastPass disclosed a previous security breach where hackers gained access to its cloud storage keys and dual storage container decryption keys. The recent asset loss was discovered […]
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District Court of New York. He denied any wrongdoing between the two companies but admitted to making mistakes during their rapid growth.Bankman-Fried refuted claims that he directed his inner circle to make political donations, although he […]
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District of New York. Bankman-Fried denied any wrongdoing between the two companies but admitted to making mistakes during their rapid growth. He refuted claims of directing political donations but acknowledged the importance of lobbying for the […]
During the trial of Sam Bankman-Fried, co-founder of FTX crypto exchange, shocking revelations have emerged about his understanding of cryptocurrency. Bankman-Fried admitted to knowing very little about cryptocurrency before launching FTX and its affiliated hedge fund, Alameda Research. He confessed that he had no idea how cryptocurrencies worked and only knew that they could be […]
Amid the global crackdown on financial crimes and terrorism funding, the US government has expressed concerns about certain companies in the crypto asset industry. The government believes that these entities are not doing enough to prevent illicit financial transactions. US Deputy Treasury Secretary Wally Adeyemo emphasized the need for financial institutions and digital asset companies […]
Gemini Trust Co. has filed a lawsuit against Genesis Global Capital, seeking to recover $1.6 billion in collateral for Gemini customers. The lawsuit alleges that Genesis improperly withheld collateral that was supposed to backstop loans made through Gemini’s Earn program. The collateral consists of over 30 million shares of the Grayscale Bitcoin Trust (GBTC). Gemini […]
The U.S. Deputy Treasury Secretary, Wally Adeyemo, has warned digital asset companies about the need to prevent illicit financial flows. Speaking at London’s Royal United Services Institute, Adeyemo highlighted that some companies in the crypto industry are more focused on technological innovations and overlook the potential consequences of unlawful funds. He emphasized the importance of […]
A new bill aimed at combating economic crime in the UK is making its way through the legislative process. The Economic Crime and Corporate Transparency Bill has been approved by UK lawmakers and is expected to have a significant impact on the fight against illicit activities. The bill focuses on regulating illicit cryptocurrency assets, marking […]
The Securities and Exchange Board of India (SEBI) has taken action against social media influencers who provide financial advice without the necessary knowledge or experience. In a significant move, SEBI recently banned a finfluencer named Mohammad Nasiruddin Ansari, also known as ‘Baap of Chart,’ along with two others from the securities market. Ansari allegedly attracted […]
