David Hirsch, the head of the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement, has officially announced his departure from the agency after almost nine years of service. During his time at the SEC, Hirsch oversaw a multitude of crypto cases, leaving a significant mark on the agency’s enforcement efforts in the
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Recently, Coinbase CEO Brian Armstrong announced that one million people have joined the ‘Stand With Crypto’ movement as advocates for the industry. This surge in support is seen as a significant milestone, with Armstrong noting that “That’s a lot of voters!” The movement gained momentum particularly after a Whitehouse veto threat, which resulted in 600,000
Recently, a popular on-chain sleuth brought to light the fraudulent activity involving an early investor in the Solana-based meme coin known as ANDY. The exploit resulted in a whopping $2 million worth of meme coins being drained in several transactions. This malicious actor wasted no time in swapping half of the ill-gotten profits for ETH
The recent hack on the Japanese cryptocurrency trading platform, DMM Bitcoin, resulted in a significant loss of Bitcoin amounting to around $305 million. The exchange confirmed the attack and disclosed that 4,502.9 bitcoins were stolen from their systems. Despite stating that they are investigating the breach and implementing measures to prevent such incidents in the
The U.S. District Court for the District of Utah recently made a significant decision regarding the Securities and Exchange Commission’s (SEC) case against Digital Licensing, operating under the name Debt Box. The judge dismissed the case and ordered the SEC to pay approximately $1.8 million in attorney and receivership fees. In a post on X
Recently, Coinbase announced the launch of a new initiative called ‘Tech Against Scams’ in partnership with several industry leaders such as Meta, Ripple, Gemini, Kraken, Match Group, and GASO. This initiative aims to combat online fraud and financial schemes, while also focusing on educating and protecting users. The coalition emphasizes that scams are not limited
Recently, Gala Game, a Web3 gaming project, fell victim to an exploitation incident where an unknown attacker, posing as a compromised admin address, managed to mint 5 Billion GALA tokens, valued at over $200 million. This breach led to the unauthorized sale of 600 million tokens through Uniswap, amounting to $29 million at the time
A recent confidential report from the United Nations obtained by Reuters has shed light on the nefarious activities of North Korea’s notorious cybercriminal group, the Lazarus Group. According to the report, the hackers managed to transfer millions of dollars worth of stolen cryptocurrency back to North Korea last year. The cybercriminals targeted HTX, a crypto
The Chinese police recently uncovered a major underground banking operation that utilized the popular stablecoin Tether (USDT) for transferring funds amounting to 13.8 billion yuan ($1.9 billion). The operation was led by a criminal gang involved in the import and export business in China. The gang used USDT to run a foreign exchange payment and
The US Treasury Department is set to prioritize addressing the risks posed by cryptocurrencies and emerging technologies in the near future through the implementation of comprehensive regulations. The department’s 2024 National Strategy for Combating Terrorist and Other Illicit Financing report includes digital assets as a key focus area. The strategy aims to combat the misuse