In a massive and coordinated crackdown, US and European law enforcement have dismantled Garantex, a notorious crypto exchange alleged to have laundered billions for a spectrum of illicit actors, from cybercriminals to drug traffickers. The staggering figure of $96 billion in transactions since its inception in April 2019 raises important questions about how such operations
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In a recent appearance on Tucker Carlson’s podcast, former FTX CEO Sam Bankman-Fried (SBF) expressed a shocking perspective on his legal troubles—swaying between victimhood and a self-proclaimed innocence. He categorically asserted that he does not consider himself a criminal, even while being embroiled in serious federal charges. His refusal to accept the Department of Justice’s
In March 2023, a monumental breach shook the cryptocurrency exchange Bybit to its core, resulting in a staggering $1.5 billion theft. This incident not only highlights a catastrophic failure in security protocols but serves as a harrowing reminder of the fragility of digital infrastructures that millions rely upon. The root cause? A compromised developer laptop.
When we dissect the recent security breach at Bybit, which has rattled the crypto community, the numbers alone paint a grim picture. With $1.07 billion—approximately 77% of the $1.4 billion stolen—still traceable, the incident serves as a harsh reminder of the vulnerabilities that exist in cryptocurrency exchanges. The confirmation by Bybit CEO Ben Zhou that
In a bold yet contentious move, Cronos is facing monumental backlash over its proposal to reinstate 70 billion CRO tokens that were previously burned in 2021. The early voting results are nothing short of damning, with 87% of participants decisively rejecting the notion of bringing these tokens back. This overwhelming opposition raises critical questions about
In a significant development for the cryptocurrency community and traders alike, the CME Group announced the pending launch of Solana (SOL) futures on March 17, contingent upon regulatory approval. This move comes amid increasing interest and demand for more sophisticated financial instruments tied to cryptocurrency markets. Nate Geraci, the CEO of The ETF Store, commented
In a notable move that highlights tensions within the cryptocurrency sector, South Korean firm Dunamu, which oversees Upbit—one of the nation’s foremost crypto exchanges—has initiated legal proceedings against the Financial Intelligence Unit (FIU). This legal development emerges amidst a broader crackdown on crypto-related infractions within South Korea, where regulatory bodies are becoming increasingly vigilant in
The cryptocurrency landscape has experienced significant upheaval in recent years, prompting a complex interplay between regulation and innovation. At the heart of this turmoil lies the legal battles facing many crypto exchanges, highlighted most recently by the statements from Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange. His remarks encapsulate a broader concern within the
In a shocking revelation for the cryptocurrency world, Bybit, a prominent digital asset exchange, announced that a massive $1.4 billion hack did not stem from a breach in its own infrastructure but was traced to a vulnerability on a Safe developer machine. This high-profile incident has drawn attention not only for the immense financial losses
In a striking move towards financial stability within the cryptocurrency sector, Bybit has successfully repaid a substantial loan of 40,000 Ethereum, valued at approximately $99.98 million, which it borrowed from Bitget amid a significant security breach. This incident, which resulted in a staggering $1.4 billion loss, shook the trust in digital asset exchanges, prompting wider