The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading…
The market for nonfungible tokens — such as artwork of bored apes — has been spiraling downward after sales sank sharply and the prices of popular NFTs plummeted over the last few weeks. The crypto niche is on course to record its first month with under $1 billion in sales since June 2021, according to…
Michael Saylor’s Bitcoin-backed tech firm MicroStrategy Inc. bought another 480 coins worth about $10 million at the height of the crypto market collapse. The firm purchased the coins between May 3 and June 28 for about $20,817 each, according to paperwork filed with the US Securities and Exchange Commission Wednesday. Bitcoin was trading close to…
Investors in ether and its troubled twin stETH are nervously anticipating a crypto milestone: The merge. That’s the name for a major upgrade of the Ethereum blockchain network upon which many crypto projects are built, aimed at making it leaner, meaner and cleaner. It’s elusive. The merge was supposed to happen years ago but has…
As cryptocurrencies get hammered in the economic meltdown, stablecoins — whose value is pegged to another asset like a fiat currency or a commodity — are also bad investments and are ill-suited as a form of money, Siddharth Tiwari, the Asia-Pacific head of the Bank of International Settlements (BIS), has said. In a South China…
For a generation of alienated techies, crypto’s all-for-one ethos was its biggest draw. Now panic is spreading across this universe — and that same ethos is posing what may be the biggest threat yet to its survival. What started this year in crypto markets as a “risk-off” bout of selling fueled by a Federal Reserve…
Leading crypto change is reportedly acquiring a stake in the beleaguered crypto lending firm BlockFi, as the crypto industry faces meltdown. According to Wall Street Journal, FTX is currently in discussions with BlockFi regarding the stake in the firm. The acquisition talks came as BlockFi secured a $250 million line of credit from FTX, which…
Crypto is undergoing a historic bout of volatility, but options traders are seeing positive signs within the market in the wake of the ruckus and controversy that overtook digital-asset lenders and others in the sector. Chris Bae, chief executive and co-founder at structured-derivative-solutions provider EDG and a former trader at UBS and Goldman Sachs, is…
How many times have we heard that a hacker has been caught for their cybercriminal activities? For that matter, how often do we come across reports that legal notices have been sent to anonymous hackers who have siphoned off millions through ransomware or some such means?
The Bloomberg Galaxy Crypto Index has declined 47.1 per cent over the past year and 75.6 per cent from its peak on November 9, 2021. Bitcoin, which had touched a peak of $ 67,734 on November 9, is currently trading at around $21,483, about 68.3 per cent lower.
