In November 2019, the financial realm was rattled when Upbit, one of South Korea’s foremost cryptocurrency exchanges, reported a staggering theft of 342,000 ETH, valued at around $50 million at the time. In a recent investigation, South Korean authorities have tied this high-profile heist to North Korean hacking groups, notably Lazarus and Andariel, which possess
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The intersecting worlds of blockchain technology and bankruptcy law are creating unprecedented challenges and opportunities. A recent ruling from the Southern District of New York exemplifies this development as Celsius Network, now in the throes of insolvency proceedings, received judicial approval to serve legal notices using non-fungible tokens (NFTs). In an era where traditional legal
Gary Gensler, who has been steering the US Securities and Exchange Commission (SEC) since April 2021, announced his resignation will take effect on January 20, 2025. This date marks a significant transition as it coincides with the inauguration of President-elect Donald Trump. Gensler describes his experience as chairman as an “honor,” expressing his admiration for
In a landmark ruling on November 21, a federal court in Texas invalidated the Securities and Exchange Commission’s (SEC) controversial dealer rule, which aimed to extend the agency’s regulatory reach within the cryptocurrency sector. The U.S. District Court for the Northern District of Texas concluded that the SEC had overstepped its statutory boundaries, rendering the
The potential appointment of Chris Giancarlo, the former Chair of the Commodity Futures Trading Commission (CFTC), as the inaugural “crypto czar” reflects a significant pivot in U.S. cryptocurrency governance. Reportedly emerging as the top candidate for this newly proposed position, Giancarlo’s background in regulatory oversight combined with his advocacy for technological innovation positions him uniquely
On November 21st, Sui Network confronted a significant setback when its mainnet unexpectedly halted block production, leading to a prolonged two-hour disruption. This incident underscores the vulnerabilities that can arise within burgeoning blockchain systems, particularly as they aspire to compete with established players like Solana. The Sui team, which includes engineers with deep ties to
As the cryptocurrency market continues to evolve, Ethereum, the second-largest cryptocurrency by market capitalization, finds itself at a pivotal point in its price trajectory. Recently, Ethereum’s price have shown signs of consolidation after hitting a four-month high. Understanding the underlying factors driving Ethereum’s price can help investors gauge its potential future movements. In this article,
Nikolai Durov, co-founder of the Telegram messaging platform, has made substantial contributions to cryptography and mathematics. His innovative spirit serves as the catalyst for the newly announced NikolAI project. In recognition of Durov’s 44th birthday, this initiative seeks not only to honor his achievements but also to foster a vibrant community within the TON blockchain
My Neighbor Alice (MNA), a blockchain-based metaverse game, has gained significant attention since its launch at the beginning of 2023. As players increasingly find joy in its interactive environments and NFT elements, the game’s creators, spearheaded by business director Antonio Palma, are exploring ambitious expansions that promise to redefine the gaming experience. Echoing sentiments shared
In a remarkable turn of events, South Korean authorities have successfully retrieved 4.8 Bitcoin (BTC) originally linked to the notorious 2019 hack of Upbit, one of the largest cryptocurrency exchanges in South Korea. This incident was not merely a typical cyber theft; it involved a substantial amount of 342,000 Ethereum (ETH) being pilfered by suspected
