While Chainalysis suspected the involvement of North Korea in the Euler Finance hack, it highlighted the possibility of misdirection by other hackers. Ever since Euler Finance fell victim to the biggest decentralized finance (DeFi) hack of 2023, the crypto community closely followed the $197 million loot on-chain — hoping to track down the attacker. Out…
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Chances that the hacker will return the entire loot of $197 million remain slim, as no more outbound transactions — other than the 3,000 ETH — were recorded at the time of writing. The recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far.…
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The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and…
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The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement. Unusual Relationship:…
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While the crypto market responded with a massive sell-off, not all USDC investors were lucky enough to walk away with their funds amid the uncertainty. Soon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin…
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Israel’s tax authority is after two creators of non-fungible tokens (NFTs) suspected of failing to report almost $2.2 million in revenue. The news of the investigation comes after the recent arrest of a graphic designer from Tel Aviv accused of similar offenses. Thousands of ‘Western Wall NFTs’ Allegedly Sold Without Tax Reporting Israel Tax Authority…
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Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.” Social Media Mocks Solana’s 10th Downtime, Supporters Defend Project…
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Since Feb. 14, Voyager has sent crypto assets to Coinbase on an almost daily basis, alleges on-chain analyst Lookonchain. Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 bankruptcy in July 2022, is reportedly selling assets through the Coinbase crypto exchange. On-chain data suggest that Voyager received at least $100 million in…
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A former school assistant facilities director in Cohasset, Massachusetts, has been accused of operating a cryptocurrency mining operation inside a crawlspace at Cohasset High School. The Cohasset Police Department alleges that Nadeam Nahas stole nearly $18,000 in electricity to power the crypto mining scheme. Former Cohasset School Employee Faces Charges for Electricity Theft in School…
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Former FTX Director Pleads Guilty to Charges of Fraud, Money Laundering, and US Campaign Finance Violations
Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating With Authorities in FTX Investigation;…
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