The recent attack on Orbit Chain’s cross-chain bridge has resulted in nearly $100 million worth of cryptocurrency being stolen in December, making it the fifth-highest month for hacks in 2023. The exploit targeted the bridging service of Orbit Chain, a cross-chain protocol launched in South Korea in 2018. The breach occurred on December 31st, leading […]
In a high-stakes legal battle, bankrupt cryptocurrency exchange FTX has filed a lawsuit against four former employees of its Hong Kong-based affiliate, Salameda. The lawsuit alleges that these individuals exploited their personal connections to withdraw their assets from FTX before the exchange filed for bankruptcy. FTX, along with two affiliated companies, claims that the defendants […]
A Chainlink investor recently fell victim to a sophisticated phishing attack, resulting in a loss of approximately $4.66 million. The investor had accumulated 290,750 LINK tokens valued at $2.26 million through savvy trading strategies, earning nearly $2.4 million in profits. However, their success turned sour when they clicked on a phishing link, unknowingly authorizing a […]
A banking giant with $1.80 trillion in assets under management, Credit Suisse, has been fined $3.9 million SGD ($2.90 million) by the Monetary Authority of Singapore (MAS) for making false statements to clients and overcharging customers. The MAS found that the bank’s relationship managers routinely violated Singapore’s Securities and Futures Act (SFA) of 2001 by […]
A Chainlink (LINK) crypto investor recently fell victim to a sophisticated phishing attack, resulting in a devastating loss of approximately $4.66 million. The investor had accumulated a portfolio of 290,750 LINK tokens valued at $2.26 million through savvy trading strategies, which had allowed them to profit nearly $2.4 million.However, their financial success took a turn […]
South Korean lawmakers have been involved in significant cryptocurrency transactions over the past three years, with a total estimated trade volume of $97.6 million. A recent report from the country’s Anti-Corruption and Civil Rights Commission revealed that out of the 298 sitting lawmakers, 18 had records of virtual asset possession, and only 11 were responsible […]
India’s Financial Intelligence Unit (FIU) has requested a ban on nine cryptocurrency exchanges operating in the country, including Binance, Kraken, and Bitfinex. The FIU claims that these exchanges are operating illegally and have failed to comply with national anti-money laundering (AML) and anti-terrorist financing regulations. As a result, the FIU has requested that the websites […]
Chinese authorities are taking steps to crack down on the use of cryptocurrencies, specifically Tether USDT, in foreign exchange trading. The Supreme People’s Procuratorate (SPP) and the State Administration of Foreign Exchange (SAFE) have issued a joint statement warning the public against using Tether as an intermediary for trading yuan with other fiat currencies.The authorities […]
In 2023, an estimated $1.8 billion was lost to hackers and scammers in the Web3 space. Nearly one-fifth of these losses were attributed to the Lazarus hacker group, which has connections to North Korea.According to data from the blockchain security platform Immunefi, the biggest hack of the year occurred on the peer-to-peer trading platform Mixin […]
India’s regulatory body has issued compliance notices to nine cryptocurrency exchanges, including major players like Binance, Kucoin, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex and Huobi. The watchdog is seeking to block the URLs of these exchanges.This move comes as the Indian government continues to crack down on the cryptocurrency industry, aiming to regulate and […]
