The hacker’s on-chain message came approximately six hours after the hack occurred. However, blockchain security firms noted the hacker had also started swapping the stolen funds for Ether.
Security News
Blockchain and cryptocurrency security is essential. After all, an autonomous monetary system can only go so far if it can be easily exploited by hackers, rendered inoperable through a mere software bug, or shut down by the powers that be.
Bitcoin’s unique security model is possible through a clever alignment of incentives between the network’s stakeholders — miners, developers, merchants and users. Any attempt to capture the network or reorganize the chain would result in the value of the currency plummeting and thus render any intended benefit completely worthless. The cost of being a bad actor significantly outweighs any possible reward.
Thus, it is in every participant’s best interest to simply play by the rules and collectively work toward the maturation and adoption of the Bitcoin (BTC) ecosystem.
Since its launch in January 2009, the Bitcoin network has never been compromised at the base layer and has had virtually 0% downtime, making it one of the most secure computer systems on the planet.
Cryptocurrency wallets, applications and exchanges that build products and services atop Bitcoin and other crypto networks, however, have frequently been the target of hacks and scams, highlighting the ongoing need to establish best practices around cybersecurity and operational security.
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The platform was part of a targeted campaign by state regulators and promised to stop U.S retail operations last summer.
15570Ethereum futures open reached a new all-time high, calling into question whether ETH can rally to $3,800.
3510Casa’s new self-custody inheritance feature will support multi-key vaults that allow benefactors to inherit BTC, ETH, USDT and USDC from deceased estates.
2072The SEC’s filing on a proposed $1.95 billion in fines and penalties for Ripple suggested the firm needed an incentive to stop violating laws beyond “just the cost of doing business.”
7561Curio said it will conduct a fund compensation program for affected liquidity providers, which could potentially take up to one year to complete.
1842“The case is just as strong as it was for spot #Bitcoin ETFs,” Grayscale’s chief legal officer Craig Salm wrote in a post on X.
6198The tokens are distributed for free and unasked for, so they’re not securities, according to the suit.
14821On-chain activity within Ethereum layer-2 protocols and ETH derivatives data suggests that the altcoin will hold the $3,200 level.
13944A Kenyan government minister said the country has encountered pressure from the U.S. government to lift its suspension on Worldcoin’s activities.
2151SatoshiLabs revealed that it suspects the compromise to be a sophisticated and premeditated phishing attack planned by hackers over several weeks.
1363The regulator does not want to undermine its arguments in ongoing legal action against Coinbase and Binance.
4768Over $4.8 million was withdrawn from its liquidity pool by a self-proclaimed white hat hacker.
2208The funds were taken from a crypto whale in 2023 when the holder signed transactions that allowed the attacker to access the funds.
11015The market capitalization of tokenized United States Treasurys grew from $114 million in January 2023 to $845 million by December.
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