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US gov files complaints to seize assets from North Korea
According to PeckShieldAlert, losses from crypto hacks and exploits accounted for over $120 million in losses during September 2024.
The United States government filed two legal complaints on October 4, 2024, to begin seizing more than $2.67 million in digital assets stolen by the North Korean Lazarus hacking group.
According to the legal filings, the US government seeks to recover approximately $1.7 million in Tether $USDT stolen by the organization in the 2022 Deribit hack â which left the options exchange drained of $28 million.
Once the hackers successfully breached a Deribit hot wallet, they passed the funds through the Tornado Cash mixer and several Ethereum $ETH addresses in an attempt to avoid detection.
United States law enforcement officials also filed to recover roughly $970,000 in Avalanche-bridged-Bitcoin (BTC.b) stolen as a result of the Lazarus Group's 2023 hack of the Stake.com gambling platform. The malicious attack left Stake with more than $41 million in losses.
Lazarus Group the likely culprit behind many crypto hacks
The Deribit and Stake.com hacks represent only a small fraction of attacks linked to the North Korean Lazarus Group. Onchain sleuths believe the July 2024 hack of the popular WazirX exchange, which left the platform drained of approximately $235 million was perpetrated by the Lazarus Group.
A concerning Aug. 15 report from onchain detective ZackXBT also uncovered a network of North Korean developers, who have infiltrated at least 25 crypto projects. The onchain sleuth revealed that the developers were using fake names to gain access to the projects to compromise code and loot treasuries. At the time, ZackXBT explained that all the developers identified were likely working for a single entity.
Federal Bureau of Investigation issues warning
The United States Federal Bureau of Investigation (FBI) issued a series of warnings about the Lazarus Group in September 2024 â starting with a warning about social engineering scams from the hacking group.
One of these scams involved sending out fake job offers and applications to unsuspecting users. Once the hackers built sufficient rapport with the unsuspecting victim and encouraged them to download malware disguised as employment documentation, the user would be subject to theft or the loss of sensitive personal data.
cointelegraph.com / Vince Quill
$BTC $ETH
US government asset seizure filing. Source: PACER.
The United States government filed two legal complaints on October 4, 2024, to begin seizing more than $2.67 million in digital assets stolen by the North Korean Lazarus hacking group.
According to the legal filings, the US government seeks to recover approximately $1.7 million in Tether $USDT stolen by the organization in the 2022 Deribit hack â which left the options exchange drained of $28 million.
Once the hackers successfully breached a Deribit hot wallet, they passed the funds through the Tornado Cash mixer and several Ethereum $ETH addresses in an attempt to avoid detection.
United States law enforcement officials also filed to recover roughly $970,000 in Avalanche-bridged-Bitcoin (BTC.b) stolen as a result of the Lazarus Group's 2023 hack of the Stake.com gambling platform. The malicious attack left Stake with more than $41 million in losses.
Lazarus Group the likely culprit behind many crypto hacks
The Deribit and Stake.com hacks represent only a small fraction of attacks linked to the North Korean Lazarus Group. Onchain sleuths believe the July 2024 hack of the popular WazirX exchange, which left the platform drained of approximately $235 million was perpetrated by the Lazarus Group.
A concerning Aug. 15 report from onchain detective ZackXBT also uncovered a network of North Korean developers, who have infiltrated at least 25 crypto projects. The onchain sleuth revealed that the developers were using fake names to gain access to the projects to compromise code and loot treasuries. At the time, ZackXBT explained that all the developers identified were likely working for a single entity.
Federal Bureau of Investigation issues warning
The United States Federal Bureau of Investigation (FBI) issued a series of warnings about the Lazarus Group in September 2024 â starting with a warning about social engineering scams from the hacking group.
One of these scams involved sending out fake job offers and applications to unsuspecting users. Once the hackers built sufficient rapport with the unsuspecting victim and encouraged them to download malware disguised as employment documentation, the user would be subject to theft or the loss of sensitive personal data.
cointelegraph.com / Vince Quill
$BTC $ETH
US government asset seizure filing. Source: PACER.
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Who was Len Sassaman, and why does HBO think he is Satoshi Nakamoto?
$BTC Suddenly, the late cryptographer and privacy activist Len Sassaman is in the spotlight. The reason? An upcoming HBO documentary that promises to reveal the identity of Bitcoinâs mysterious inventor. And the odds seem to be skyrocketing that itâs Sassaman.
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Vitalik Buterin Sold 5 Tokens He Received for Free for $340,500
Vitalik Buterin, the co-founder and lead developer of the Ethereum blockchain, made $340,500 by selling ERC-20 meme-based tokens that he received for free.
Four of these crypto assets were meme coins that have recently become popular. To summarize, on October 5, he sold five tokens for 140.67 ETH, and at the time, Ethereum was worth $2,420.
According to Lookonchain, Buterin exchanged $101,000 in $USDT for $41.69 ETH during the transactions. In addition, he sold 11.76 billion MOODENG for 21.03 ETH worth $50,900. He also sold $NEIRO tokens for $72,400, $DEGEN for $60,800, and $KABOSU for $55,500.
These sales are not accidental, as interest in memecoins has started to grow again, and as a result, their value has also increased, so now is a good time to make a profit.
Several of the sold cryptocurrencies from the top 10 by weekly growth are meme coins. For example, DEGEN is in sixth place, having increased by 57% over the past seven days.
In general, investors should not forget that cryptocurrencies are volatile, so they pose significant risks for traders. Memecoins are characterized by additional risks.
CoinMarketCap
Vitalik Buterin, the co-founder and lead developer of the Ethereum blockchain, made $340,500 by selling ERC-20 meme-based tokens that he received for free.
Four of these crypto assets were meme coins that have recently become popular. To summarize, on October 5, he sold five tokens for 140.67 ETH, and at the time, Ethereum was worth $2,420.
According to Lookonchain, Buterin exchanged $101,000 in $USDT for $41.69 ETH during the transactions. In addition, he sold 11.76 billion MOODENG for 21.03 ETH worth $50,900. He also sold $NEIRO tokens for $72,400, $DEGEN for $60,800, and $KABOSU for $55,500.
These sales are not accidental, as interest in memecoins has started to grow again, and as a result, their value has also increased, so now is a good time to make a profit.
Several of the sold cryptocurrencies from the top 10 by weekly growth are meme coins. For example, DEGEN is in sixth place, having increased by 57% over the past seven days.
In general, investors should not forget that cryptocurrencies are volatile, so they pose significant risks for traders. Memecoins are characterized by additional risks.
CoinMarketCap
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$TORN $ETH
Ethereum co-founder Vitalik Buterin has donated 100 ETH (~$242,000) to the legal defense fund for Tornado Cash developers Alexey Pertsev and Roman Storm.
The donation was received on Storm's support page. According to it, the donation amount at the time of writing is 327.51 ETH (~$793,000). Pertsev's page has another 56.19 ETH (~$136,000).
This is Buterin's third donation to protect Tornado Cash developers. In May, he donated 30 ETH to the same Free Alexey & Roman fund, launched in January on the decentralized platform Juicebox.
forklog.com
Ethereum co-founder Vitalik Buterin has donated 100 ETH (~$242,000) to the legal defense fund for Tornado Cash developers Alexey Pertsev and Roman Storm.
The donation was received on Storm's support page. According to it, the donation amount at the time of writing is 327.51 ETH (~$793,000). Pertsev's page has another 56.19 ETH (~$136,000).
This is Buterin's third donation to protect Tornado Cash developers. In May, he donated 30 ETH to the same Free Alexey & Roman fund, launched in January on the decentralized platform Juicebox.
forklog.com
$XRP
Potential Timeline of Appeal Phase
Rispoli also delved into the potential timeline for the appeal, noting that it would likely take several years before any resolution is reached. He estimated that the ruling wouldnât come until âJanuary of 2026.â
During this time, Judge Torresâ ruling remains the law, which provides a degree of security for institutions currently using XRP. However, future implications depend on the outcome of the appeal.
The broader context of the appeal could affect the entire crypto industry, especially with the SECâs focus on multiple companies. Rispoli emphasized this, saying, âThe SEC is no longer just targeting Ripple. Theyâre targeting everybody.â
He stressed that the regulatory environment is now a significant factor for businesses, with companies needing to navigate these legal battles and maintain confidence in their operations.
Rispoli speculated that the political environment might influence the outcome, particularly if there is a change in leadership at the SEC. He suggested that new regulations or a regime change could potentially lead to the SEC withdrawing the appeal altogether.
He mentioned the possibility of a shift in power following the 2024 presidential election, which could result in a new SEC chair who may take a different approach. Itâs because former President Donald Trump has vowed to fire the ani-crypto SEC Chairman, Gary Gensler. Thus, Rispoli stated, âIf you had a new regimeâŠthey could just completely withdraw [the appeal].â
cryptonewsz.com
Potential Timeline of Appeal Phase
Rispoli also delved into the potential timeline for the appeal, noting that it would likely take several years before any resolution is reached. He estimated that the ruling wouldnât come until âJanuary of 2026.â
During this time, Judge Torresâ ruling remains the law, which provides a degree of security for institutions currently using XRP. However, future implications depend on the outcome of the appeal.
The broader context of the appeal could affect the entire crypto industry, especially with the SECâs focus on multiple companies. Rispoli emphasized this, saying, âThe SEC is no longer just targeting Ripple. Theyâre targeting everybody.â
He stressed that the regulatory environment is now a significant factor for businesses, with companies needing to navigate these legal battles and maintain confidence in their operations.
Rispoli speculated that the political environment might influence the outcome, particularly if there is a change in leadership at the SEC. He suggested that new regulations or a regime change could potentially lead to the SEC withdrawing the appeal altogether.
He mentioned the possibility of a shift in power following the 2024 presidential election, which could result in a new SEC chair who may take a different approach. Itâs because former President Donald Trump has vowed to fire the ani-crypto SEC Chairman, Gary Gensler. Thus, Rispoli stated, âIf you had a new regimeâŠthey could just completely withdraw [the appeal].â
cryptonewsz.com
$XRP Ripple SEC Lawsuit: Lawyer Sees 70% Chances of Win for XRP
Fred Rispoli, a lawyer supportive of XRP and Ripple, discussed the SECâs decision to appeal the Ripple case ruling by Judge Torres. When asked whether he anticipated this appeal, Rispoli noted that while he hoped it wouldnât happen, he believed it was likely due to the SECâs lack of accountability. The XRP lawyer also noted that there are 70% chances of the SEC losing this appeal.
Ripple vs. SEC Lawsuit Appeal Outcome Possibilities
In an interview with Tony Edward, Rispoli said, âThere wasnât too much of a downside for the SEC to file this appeal. Now granted it could be catastrophic for them if they lose, but even if thatâs the case, thereâs no accountability anyway.â
Rispoli explained also that the SECâs appeal targets several elements of the case, particularly the firmâs programmatic sales and other distributions of XRP. He highlighted the importance of these sales, stating, âThe programmatic sales are where itâs critically importantâ
According to Rispoli, these sales concern Ripple selling XRP on exchanges, which could open the door for implications affecting secondary sales and exchanges like Coinbase and Kraken. He warned that if the SEC wins this aspect of the case, it could lead to lawsuits against major crypto exchanges: âAs soon as they win, theyâre filing that case and the Coinbase case and the Kraken case.â
Regarding the SECâs chances of winning, Rispoli pointed out that the outcome largely depends on the panel of judges assigned to the case. âThe sad part about maybe the way our judicial system is structured in general is itâs really going to hinge on who are the three judges that get assigned.â
He suggested that if the judges are historically favorable to the government, the SECâs chances could increase. However, he also estimated that Ripple stands a good chance of winning if the panel is fair or even slightly favorable, predicting â70-30 in Rippleâs favor.â
cryptonewsz.com
Fred Rispoli, a lawyer supportive of XRP and Ripple, discussed the SECâs decision to appeal the Ripple case ruling by Judge Torres. When asked whether he anticipated this appeal, Rispoli noted that while he hoped it wouldnât happen, he believed it was likely due to the SECâs lack of accountability. The XRP lawyer also noted that there are 70% chances of the SEC losing this appeal.
Ripple vs. SEC Lawsuit Appeal Outcome Possibilities
In an interview with Tony Edward, Rispoli said, âThere wasnât too much of a downside for the SEC to file this appeal. Now granted it could be catastrophic for them if they lose, but even if thatâs the case, thereâs no accountability anyway.â
Rispoli explained also that the SECâs appeal targets several elements of the case, particularly the firmâs programmatic sales and other distributions of XRP. He highlighted the importance of these sales, stating, âThe programmatic sales are where itâs critically importantâ
According to Rispoli, these sales concern Ripple selling XRP on exchanges, which could open the door for implications affecting secondary sales and exchanges like Coinbase and Kraken. He warned that if the SEC wins this aspect of the case, it could lead to lawsuits against major crypto exchanges: âAs soon as they win, theyâre filing that case and the Coinbase case and the Kraken case.â
Regarding the SECâs chances of winning, Rispoli pointed out that the outcome largely depends on the panel of judges assigned to the case. âThe sad part about maybe the way our judicial system is structured in general is itâs really going to hinge on who are the three judges that get assigned.â
He suggested that if the judges are historically favorable to the government, the SECâs chances could increase. However, he also estimated that Ripple stands a good chance of winning if the panel is fair or even slightly favorable, predicting â70-30 in Rippleâs favor.â
cryptonewsz.com
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You have placed longs and are waiting for something. Until the long/short ratio evens out or liquidates large longs. There will be no reversal. Large players take advantage of this. As soon as it reaches the minimum price. They push down. Do not become long with 30 shoulders after you have been liquidated. Take a rest, switch to another coin. Betting on luck is a roulette game that is not in your favor.
With this rate, wait for 0.4.
Good luck to everyone.
With this rate, wait for 0.4.
Good luck to everyone.
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