Cryptocurrency exchange X was attacked by #hackers , resulting in a loss of up to $21 million while restating $BTC | $ETH | $POL
The financial world is undergoing significant transformation, and with my background in #SocialMining and @DAO Labs , I’m excited to share my perspective on #RWA! Inc.’s groundbreaking role in the tokenization of real-world assets ( RWAs ). These reflections are my own and should not be taken as investment advice.
To start with RWA Inc. came into view as a frontier in integrating orthodox finance with blockchain, offering an unparalleled platform that changes physical assets like real estate, commodities, and equities into what I called cryptocurrency exchanges. This idea brings a unique level of openness and marketability to markets that were once problematic for everyday investors to use. In addition, let us imagine being able to own a share of an important asset that was previously out of reach for most stakeholder. Kudos to tokenization, RWA Inc. is making it possible for anyone with internet connectivity to invest in these markets confidently.
One of RWA Inc.'s vital strengths is what I called Tokenization as a Service (TaaS) mechanism, which makes businesses to migrate to blockchain without stress. Through TaaS, RWA Inc. gives elaborate back up for token structuring, fundraising strategy, and community-building, which are vital for a successful beginning. By connecting token issuers with industry professionals and creating targeted marketing campaigns, RWA Inc. helps businesses break into the Web3 space with confidence. This approach simplifies the complexity of tokenization, making it more accessible to traditional companies looking to tap into blockchain’s potential.
In addition to its tokenization platform, RWA Inc. has built a Launchpad that enables new projects to raise capital and connect with a community of investors who are genuinely interested in RWA opportunities. But this platform goes beyond raising funds—it aims to build long-term value. By offering programs such as operational staking and platform incentives, RWA Inc. nurtures a deep sense of ownership and involvement among investors, giving a more devoted , loyal support platform for each project.
RWA Inc. is also contemplating to unveil a marketplace that will allow users to transact tokenized assets with convenience, backed by statutory adherence. With an emphasis on equity token licensing, this marketplace will make buying and selling tokenized assets globally more secure and user-friendly. This development represents a huge step forward in democratizing asset ownership, creating a safe and efficient space for investors to participate in previously inaccessible markets.

Ilya “Dutch” Lichtenstein was sentenced to five years in prison by a federal judge in Washington for stealing billions of dollars’ worth of bitcoin from the Bitfinex cryptocurrency exchange.
According to a Bloomberg report, Lichtenstein received his sentence from the Washington federal court on November 14. This punishment aligns with the prosecutors’ demands, who sought a harsher sentence for the Bitfinex hacker, while recommending a lighter 18-month sentence for his wife, social media rapper Heather “Razzlekhan” Morgan.
Reduced Sentence for Cooperation with Investigators
Under initial sentencing guidelines, Lichtenstein faced up to 20 years in prison. However, his sentence was reduced because he provided substantial assistance to investigators and served as a key witness in several cybercrime cases.
One of the cases in which he testified involved a money-laundering operation connected to a mixing service called Bitcoin Fog in February 2024.
The Theft of Nearly 120,000 Bitcoins from Bitfinex
Together with his wife, Lichtenstein hacked into Bitfinex and stole approximately 119,754 bitcoins. At the time of the theft, these bitcoins were valued at $71 million. However, due to the recent bitcoin rally, where the cryptocurrency’s price reached as high as $93,000, the stolen bitcoins are now worth over $10.5 billion. Currently, bitcoin is trading around $88,158.
Lichtenstein, described as a “highly skilled computer expert,” hacked into Bitfinex in 2016. He then authorized over 2,000 transactions to transfer the bitcoins into a cryptocurrency wallet he controlled. In addition to the Bitfinex hack, Lichtenstein has a history of compromising accounts on other major crypto platforms, including Coinbase and Kraken.
Morgan’s Role in Hiding the Stolen Bitcoins
Morgan claimed that she learned about her husband’s theft from Bitfinex in 2020. She then helped him hide the stolen bitcoins through various methods, including purchases of NFTs, gold, and Walmart gift cards.
Prosecutors also stated that the couple used sophisticated money-laundering techniques to make their funds untraceable. They reportedly withdrew and deposited funds on unregulated crypto exchanges and darknet markets.
Morgan Awaits Sentencing
Morgan is set to be sentenced on November 18. Like her husband, she may receive a reduced sentence due to her cooperation with authorities. However, she still faces up to five years in prison for conspiracy to defraud the United States.

#cybercrime , #CryptoSecurity , #CryptoHack , #Cryptoscam , #hackers

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Platforms Waves and Vires Finance defrauded users of an astonishing $500 million through manipulative schemes and deceptive actions, leading to extensive financial losses. Waves founder Sasha Ivanov utilized the stablecoin $USDN to artificially inflate the value of $WAVES, causing a market collapse and significant financial losses for users.

Market Manipulation: Assumption of User Debts and Losses for Alameda Research
Sasha Ivanov’s latest move involved taking over user debts, which further expanded the scandal. Even major investment firm Alameda Research suffered a $90 million loss, intensifying the seriousness of the situation.
Vires Finance and a Series of Rug Pulls
Operating since 2021 as a prominent lending platform on Waves, Vires Finance attracted investors with its yield farming opportunities and reached a peak of nearly $2 billion in capital. However, behind the scenes, Sasha was using the algorithmic stablecoin $USDN to manipulate the value of $WAVES.
This tactic involved taking loans in USDT/USDC, using $USDN as collateral, and artificially raising the price of $WAVES. Once investors noticed the manipulation, the price of $WAVES plummeted by 93%, resulting in a total loss of $500 million. Users desperately tried to recover their investments, but this was only the beginning of a series of fraudulent actions.
Further Manipulation and Withdrawal Restrictions
In another fraudulent step, Sasha proposed a management plan intended to liquidate short positions on $WAVES, forcing users to make additional deposits to avoid liquidation. Although the proposal was ultimately blocked, the damage was already done. Sasha continued to control liquidity, and the Ponzi-like scheme persisted.
Stablecoin Manipulations and Withdrawal Freezes
Even after this scandal, Sasha Ivanov did not relent. He devised further tactics, including the forced conversion of USDT/USDC to the unstable $USDN. Shortly thereafter, $USDN lost its peg, negatively impacting users who wanted to withdraw their funds. Sasha even introduced new markets that were vulnerable and dependent on his manipulations from the outset. Promises of liquidity and stability proved deceptive, leaving users with practically worthless assets.
"The Grand Finale": Assumption of Outstanding Debts and Additional Losses
In the final act of fraud, labeled “The Grand Finale,” Sasha Ivanov took on outstanding debts and seized valuable assets from users. This move also impacted Alameda Research, which lost $90 million, linking Sasha to further major controversies within the crypto world.

#Cryptoscam , #cybersecurity , #cryptofraud ,#CryptoNewss , #hackers

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A phishing scam involving a fake Zoom link drained $6.09 million from a Gigachad (GIGA) token investor, sparking concerns about security.
GIGA Investor Loses Millions in Phishing Attack
A memecoin investor in GIGA lost $6.09 million after clicking on a fraudulent Zoom meeting link. The attack was aimed at gaining access to the investor’s wallet, causing a significant drop in GIGA’s price on November 12, when the hacker subsequently sold off a large quantity of tokens.
The prominent investor, known as Still in the Game, alerted the community about the incident:
"Today’s massive sell-off on $GIGA was due to a phishing attack through a fake Zoom link that drained my wallet. It’s a tough hit, but I’ll come back. I’m always in the game."
Fake Zoom Link Installs Malware
According to Scam Sniffer, a company focusing on crypto-related scams, the phishing link redirected the user to a fraudulent site that captured sensitive wallet information. Still in the Game shared that the site installed malware on his laptop, which the hacker later used to collect funds from three crypto wallets and transfer them to his own.

Onchain Lens, an analytics firm, confirmed that the hacker stole 95.3 million GIGA tokens valued at $6.09 million. The hacker then exchanged the stolen GIGA tokens for 11,759 Solana (SOL), roughly $2.1 million, and converted them into stablecoins Tether (USDT) and USD Coin (USDC).

Law Enforcement Investigates the GIGA Theft
The victim reported that the FBI and a forensic team have been engaged to help recover the stolen funds. Despite the uncertainty of recovery, the investor remains optimistic, hoping to make up for the loss on the ongoing bull market: “I’ll make it all back and even more. Just watch me,” he said.
Plans for a Secure DEX Platform After the WazirX Incident
Similar security concerns are being addressed by the Indian cryptocurrency exchange WazirX, which recently suffered a $235 million hack. Founder Nischal Shetty has announced plans to build a decentralized exchange (DEX) that provides full self-custody options.

"With DEX, everyone can fully secure their assets. Your holdings will be entirely under your control," he stated.

#Cryptoscam , #phishing , #hackers , #Memecoins🤑🤑 , #hacking

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Amid efforts to reclaim over $46 million in stolen assets, DeFi platform Kyber Network has received a stunning ultimatum: forfeit total control of both the company and protocol, and all stakeholders will be made whole.
Via-on chain messaging on Thursday, the platform’s anonymous hacker demanded “complete executive control over Kyber,” alongside temporary ownership and control of its governance mechanism, KyberDAO, to enact governance changes at will.
The New ‘Kyber Director’
To that end, he also requires all documents and information related to Kyber, including details about the company and protocol’s origins, its structure, its investors, and its balance sheet.
“This is my best offer. This is my only offer,“ wrote the hacker, referring to himself as the ‘Kyber Director’.
Under the new arrangement, the culprit still has no plan to directly return any funds.
In fact, he has also demanded the full forfeiture of Kyber’s on-chain and off-chain assets, including “shares, equity, tokens, partnerships, blogs, websites, servers, passwords, code, social channels, and all creative and intellectual property of Kyber.”
Instead, the hacker’s compensation includes buying out Kyber’s executives at “fair valuation” with a good natured farewell. “You haven’t done anything wrong,” he said, noting that their failure was “simply bad luck.”
The company’s employees received an even better offer, including doubled salaries and 12-months severance pay for anyone who still wanted to leave the firm. Meanwhile, holders of Kyber’s governance token, KNC, have merely been promised that their investments will “no longer be worthless.”
Finally, Kyber’s liquidity providers have been offered a 50% rebate on the losses they’ve incurred since the hack during their market-making activity. “I know this is probably less than what you wanted. However, it is also more than you deserve,” the hacker wrote.
Keeping Kyber Alive
Kyber’s executives have been given until December 10 to accept the offer before it expires. Under his leadership, the hacker claims Kyber will evolve from the “7th most popular DEX” into “an entirely new cryptographic project.”
“Kyber is one of the original and longest-running DeFi protocols,” he concluded. “No one wants to see it go under.”
Kyber was first hacked on November 22 for various tokens including Wrapped ETH (WETH) Arbitrum (ARB), DAI, and others.
Ever since, he has repeatedly taunted Kyber’s executives through on-chain messaging, providing exact details on how he executed his hack, and demanding that his counterparties be more respectful.
Kyber retrieved a small portion of its losses from bot operators earlier this week. Nevertheless, its TVL remains at just $7.6 million, compared to $86 million before the hack.
The post Kyber Hacker Demands Total Executive Control Of Company In Return For Stolen Assets appeared first on CryptoPotato.
#hackers