OKX suspends DEX aggregator to stop ‘further misuse’ by Lazarus
Crypto exchange OKX has temporarily paused its decentralized exchange aggregator to prevent “further misuse” by North Korean hacking collective Lazarus Group.“Recently, we detected a coordinated effort by Lazarus group to misuse our defi services,” said OKX on March 17.“After consulting with regulators, we made the proactive decision to temporarily suspend our DEX aggregator services. This move allows us to implement additional upgrades to prevent further misuse.” The OKX helpdesk confirmed that the DEX aggregator was temporarily suspended for an “internal review and upgrade” but did not provide a timeline. It added that crypto wallet services will remain available to all customers, but it will “pause new wallet creation in select markets during this time.”Source: OKXOn March 11, Bloomberg reported that European Union financial watchdogs were investigating the firm’s DEX aggregator, called OKX Web3, and its wallet services for their alleged role in laundering funds from the Bybit hack.“Over the past few days, we’ve faced targeted media attacks questioning our integrity and operations,” the firm stated in a blog post. It added that it “can’t ignore the fact that these attacks are happening at a time when we are actively fighting against financial crime.”According to Bybit CEO Ben Zhou, nearly $100 million from the $1.5 billion Bybit hack had been laundered through OKX’s Web3 proxy, with a portion of the funds now untraceable.OKX responded on March 11, stating that the “Bloomberg article is misleading,” saying that when Bybit got hacked, OKX reacted in two ways: by freezing associated funds from moving into its CEX, and developing the new hack detection features.Related: Lazarus Group sends 400 ETH to Tornado Cash, deploys new malwareOKX stated that the goal is to ensure that explorers properly highlight the actual DEX processing trades “rather than mistakenly identifying our aggregator as the point of trade.”The exchange has already deployed a “hacker address detection system” for its DEX aggregator in addition to a system to track the hacker’s latest addresses and block them on its centralized exchange in real time.“We already rolled out a lot of controls for OKX Web3 to fight with the misuse, including prohibited markets’ IP blocking and real-time black address detection and blocking system,” said OKX CEO Star Xu on March 17.The firm also clarified that the OKX Web3 DEX aggregator is not a custodian of customer assets, adding that its function is to provide access to liquidity across multiple protocols. However, “some have deliberately misrepresented our platform,” it said. Magazine: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest
Bank of Korea to take ‘cautious approach’ to Bitcoin reserve
The Bank of Korea has recently announced that it is taking a cautious approach towards potentially including Bitcoin in its foreign exchange reserves. This decision comes after a written inquiry from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee.
According to officials from the Korean central bank, they have not yet looked into the possibility of adding Bitcoin (BTC) to their reserves due to its high volatility. They stated that a cautious approach is necessary, as Bitcoin’s price can fluctuate greatly and the transaction costs to cash out could rise drastically in times of market instability.
This announcement comes amidst global discussions on the role of cryptocurrencies in national financial strategies, sparked by US President Donald Trump’s executive order to establish a strategic Bitcoin reserve and digital asset stockpile. However, the Bank of Korea has emphasized that their foreign exchange reserves must have liquidity and be immediately usable when needed, as well as a credit rating of investment grade or higher. These are criteria that Bitcoin does not currently meet in their opinion.
Some members of Korea’s Democratic Party have urged the country to integrate Bitcoin into its national reserves and develop a won-backed stablecoin. However, the Bank of Korea has stated that their reserves must be held in proportion to the currencies of countries with which they trade, and Bitcoin does not fit this criteria.
Professor Yang Jun-seok of Catholic University of Korea agrees with the Bank of Korea’s decision, stating that it is appropriate for foreign exchange to be held in proportion to the currencies of trading partners. Professor Kang Tae-soo from the KAIST Graduate School of Finance also commented on the US likely leveraging stablecoins rather than BTC to maintain dollar hegemony.
In related news, a Democrat lawmaker has urged the US Treasury to cease Trump’s plans for a Bitcoin reserve. Meanwhile, South Korea’s financial regulator is examining Japan’s legislative trend towards crypto assets as they consider lifting a ban on crypto exchange-traded funds in the country.
In conclusion, while there is increasing global discussion on the role of cryptocurrencies in national financial strategies, the Bank of Korea has taken a cautious approach towards including Bitcoin in their foreign exchange reserves. They have cited Bitcoin’s high volatility and lack of liquidity and credit rating as reasons for their decision.
Crypto platform Debiex must pay $2.5M in CFTC ‘pig butchering’ case
Crypto platform Debiex has been ordered to pay around $2.5 million after it failed to respond to a US Commodity Futures Trading Commission suit accusing it of being a romance scam ring.Arizona federal court Judge Douglas Rayes on March 13 granted the CFTC’s earlier motion for summary judgment in its case and ordered Debiex to pay back around $2.26 million it stole from its customers, along with a civil penalty of nearly $221,500.Judge Rayes said there was no evidence that Debiex’s failure to respond to the CFTC was the result of “excusable neglect.”The CFTC sued Debiex in January 2024, saying its staff ran a so-called “pig butchering” scam, where they initiated romantic relationships with customers over social media to gain trust to convince them to invest in the platform.The scheme hooked five victims who deposited around $2.3 million in total onto Debiex, which the purported trading platform stole, the CFTC said.A highlighted excerpt of Judge Rayes’ order summarizing the CFTC’s case against Debiex, Source: CourtListenerThe CFTC also accused Zhāng Chéng Yáng of being a “money mule” for Debiex, whose crypto wallets were used to accept and steal victims’ funds.Judge Rayes granted a CFTC motion for default judgment against Zhāng on March 12, finding it adequately alleged he controls a crypto wallet with OKX “that received digital assets to which he had no legitimate claim.”He said OKX was “voluntarily preserving” the crypto in Zhāng’s account and ordered its contents, consisting of $5.70 worth of Tether (USDT) and nearly 63 Ether (ETH) worth around $119,500, to be transferred to an unnamed victim.The CFTC said in its January 2024 complaint that Debiex’s scheme saw its unknown managers target potential victims through social media to lure them to websites it had created marketing itself as a “Blockchain Network Decentralized perpetual contract trading platform” where users can conduct futures trading and “Mining transactions.”Related: Four suspects charged in home invasion of streamer Amouranth Debiex’s staff would present as females and built a rapport with victims through “continuous and repeated messaging and sharing purported pictures of themselves” while claiming to be “highly successful digital asset commodities traders,” the CFTC said.Once an account was created and the customers sent over their crypto, the CFTC said Debiex would share “fictitious information” about customer balances, trading positions and profits.“All of this information was most likely false,” the CFTC said. “The evidence shows that the Customers’ digital assets were simply sent to numerous digital asset wallets in an attempt to obfuscate their destination.”Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Crypto users report new scam emails spoofing Coinbase, Gemini
Crypto users have reported a rise in scam emails made to look like they’re from crypto exchanges Coinbase and Gemini that attempt to get users to set up a new wallet with pre-generated recovery phrases controlled by scammers.In several examples posted to X, the email claims to be from Coinbase, asking users to transition to self-custodial wallets and providing instructions on downloading the legitimate Coinbase Wallet, giving a deadline of April 1 to make the switch.Source: Steve KaczynskiHowever, it also provides pre-generated recovery phrases. Once users open a new wallet with those phrases and transfer funds, all the assets will be available to the threat actor, who could drain the wallet.The email mentions a class-action lawsuit against Coinbase alleging it has sold unregistered securities, which has resulted in a court mandating users manage their own wallets.“Coinbase will operate as a registered broker, allowing purchases, but all assets must move to Coinbase Wallet,” the phony email says.The US Securities and Exchange Commission dismissed its lawsuit alleging Coinbase was an unregistered broker and selling unregistered securities on Feb. 27.Coinbase told Cointelegraph it is aware of the scam and pointed to its March 14 post to X, saying, “We will never send you a recovery phrase, and you should never enter a recovery phrase given to you by someone else.” Source: Coinbase Support Crypto exchange Gemini has also been spoofed with the same recovery phrase email scam, using the same tactics and claiming users need to set up a new wallet because of a recent court decision.Gemini was being sued by the SEC for allegedly offering unregistered securities through its earn program. The regulator opted to end the legal action on Feb. 26.Source: Sukesh TedlaGemini didn’t immediately respond to Cointelegraph’s request for comment. Blockchain security firm CertiK’s annual Web3 security report flagged crypto phishing attacks, which cost users $1 billion across 296 incidents, as the most significant security threat for 2024.Related: California financial regulator warns of 7 new types of crypto, AI scamsThe email scams come as at least three crypto founders have reported foiling an attempt from alleged North Korean hackers to steal sensitive data through fake Zoom calls.Scammers have been targeting crypto founders by offering a meeting to discuss a partnership opportunity, but once the call starts, they send a message feigning audio issues and a link to a new call that installs malware. Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis
Bitcoin landfill man loses appeal, says he has one ‘last legal option’
A UK man’s bid to obtain a permit to search a landfill for his hard drive — holding private keys to 8,000 Bitcoin — has been rejected by the UK Court of Appeals.“Appeal request to the Royal Court of Appeal: refused,” Howells said in a March 14 X post.“The Great British Injustice System strikes again… The state always protects the state,” the early Bitcoin adopter added before revealing his “next stop” would be the European Convention on Human Rights (ECHR).UK Royal Court of Appeal Judge Christopher Nugee knocked back Howells’ application, stating that there was no “real prospect of success” and there was “no other compelling reason” as to why it should be heard, according to a March 13 filing shared with Cointelegraph.Source: James HowellsNugee’s decision follows an earlier dismissal on Jan. 9 from High Court Judge Andrew Keyser, who similarly said there was “no realistic prospect” of Howells’ case succeeding at a full trial.In a note to Cointelegraph, Howell said his “last legal option” to exhaust is at the ECHR — where he will claim that the UK High Court and UK Court of Appeal breached his right to property and right to a fair trial under Article 1 of Protocol 1 and Article 6 of the ECHR.“The British establishment want to sweep this under the carpet, and i will not let them. It will not go away — no matter how long it takes!”The ECHR cannot overrule a UK court decision — however, a verdict in Howells’ favor would call on the UK courts to consider whether its legislation was interpreted in a way that is compatible with the ECHR’s provisions.In a separate statement shared with Cointelegraph, Howells said he would file a claim to the ECHR in the “coming weeks.”The court filings follow repeated rejections from the Newport City Council allowing Howells to search through the Docksway landfill — where Howells’ former partner disposed of a bag containing the hard drive at the site in 2013.Related: Burning quantum-vulnerable BTC is the best option — Jameson LoppHowells’ 8,000 Bitcoin (BTC) is worth around $660 million at current prices. While few predicted Bitcoin would reach such heights back then, Howells’ incident illustrates the importance of properly securing self-custodied crypto funds.Howells also appears to be running out of time, as the Docksway landfill is reportedly set to shut down sometime during the UK’s 2025-2026 financial year, BBC News reported on Feb. 9.Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
Four suspects charged in home invasion of streamer Amouranth
Online streamer Amouranth, whose real name is Kaitlyn Siragusa, recently made headlines after being the victim of a terrifying home invasion. The streamer, who is known for her popular online content, was held at gunpoint by several individuals who demanded that she hand over the private keys to her cryptocurrency.
According to reports, four suspects have been charged in connection with the incident. Dylan Nesho Campbell, Bryan Anthony Salazar Guerrero, and two other suspects between the ages of 16-17 have all been charged with aggravated kidnapping and aggravated robbery with a deadly weapon.
The incident occurred late at night on March 2, when several armed individuals entered Siragusa’s home, beat her, and held her at gunpoint. They demanded that she hand over her cryptocurrency, which she had previously disclosed to her online followers to be worth over $20 million.
Luckily, Siragusa’s husband was on speakerphone during the incident and was able to grab a handgun to defend himself and his wife. He also alerted law enforcement and fired three rounds at the assailants, likely injuring one of them before they fled the scene.
This is not the first time that crypto holders have been targeted for their digital assets. In January 2025, a UK court sentenced seven gang members for the kidnapping and extortion of a crypto investor. And just a few weeks ago, Ledger co-founder David Balland was kidnapped in France and held for a crypto ransom before being rescued by law enforcement.
These incidents highlight the growing trend of crypto-related crimes, including kidnappings and extortion. As the value of cryptocurrencies continues to rise, it is important for individuals to take extra precautions to protect their assets and personal safety.
Burning quantum-vulnerable BTC is the best option — Jameson Lopp
Jameson Lopp, the chief security officer at Bitcoin (BTC) custody company Casa, recently argued against allowing quantum recovery of lost BTC and said that burning these coins to protect the integrity of the protocol was the preferable option.According to Lopp, allowing individuals or institutions with quantum computers to recover lost coins violates the Bitcoin network’s properties of censorship resistance, transaction immutability, and conservatism.In a March 16 article, the crypto executive wrote that allowing quantum recovery is not good for anyone. Lopp added:”Allowing quantum recovery of bitcoin is tantamount to wealth redistribution. What we would be allowing is for bitcoin to be redistributed from those who are ignorant of quantum computers to those who have won the technological race to acquire quantum computers.””It is hard to see a bright side to that scenario,” the executive continued before concluding that quantum recovery can only harm the security of the Bitcoin network.The threat posed by quantum computers to Bitcoin continues to be hotly debated, with some arguing that the threat to modern encryption is decades away, others arguing that quantum computers will never be practical, and some warning that the threat is imminent.Jameson Lopp discusses the risks posed by quantum computers at the Future of Bitcoin Conference in 2024. Source: Future of Bitcoin ConferenceRelated: Crypto, quantum computing on collision course as Microsoft debuts new chipThe great quantum scare of 2024In October 2024, researchers at Shanghai University claimed they broke encryption standards used in military and banking applications using a quantum computer.However, YouTuber “Mental Outlaw” later asserted that these claims were overblown and that the researchers did not break modern encryption standards.The YouTuber said that the quantum computer used by the research team could only factorize the integer 2,269,753, which set a new record for quantum computers but still lagged behind some classical computers.Mental Outlaw added that the device used in the experiment could only break a 22-bit key, while the record set by a classical computer was breaking an 892-bit key.Modern encryption key sizes can range anywhere between 2048 to 4096 bits, with the option of extending key sizes in the future to make them even more secure.Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
Bitcoin reclaims $80K zone as BNB, TON, GT, ATOM hint at altcoin season
Bitcoin (BTC) is struggling to break above the 200-day simple moving average ($84,000), but a positive sign is that the bulls have not ceded much ground to the bears. Bitget Research chief analyst Ryan Lee told Cointelegraph that Bitcoin needs to achieve a weekly close above $81,000 to signal resilience. Selling could accelerate if the price plummets below $76,000.Another cautious voice was that of Markus Thielen, head crypto researcher at 10x Research. Thielen told Cointelegraph that Bitcoin’s chart structure “suggests market indecision rather than a straightforward bullish consolidation.” Thielen remains doubtful of a strong price recovery in Bitcoin at the current juncture.Crypto market data daily view. Source: Coin360However, Bitcoin network economist Timothy Peterson has a different view. In an X post, Peterson said that April and October are the two months that generate a large portion of Bitcoin’s annual performance. That suggests Bitcoin could rise to a “new all-time high before June.”Could buyers drive Bitcoin above the short-term overhead resistance levels? If they do, what other top cryptocurrencies may rally in the near term?Bitcoin price analysisThe downsloping 20-day exponential moving average ($86,188) suggests that bears are in command, but the positive divergence on the relative strength index (RSI) indicates that the selling pressure is reducing.BTC/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down from the current level, the BTC/USDT pair could drop to $80,000 and then to $76,606. Contrarily, if the price turns up and breaks above the 20-day EMA, it will signal that the markets have rejected the breakdown below the 200-day SMA. The pair could rally to the 50-day SMA ($93,033) and, after that, to $100,000. Buyers may find it difficult to surpass the psychological barrier at $100,000.BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 20-EMA on the 4-hour chart is flattening out, and the RSI is just above the midpoint, indicating a balance between supply and demand. Buyers will have to drive the pair above the resistance line to gain the upper hand. The pair may climb to $92,810 and then to $95,000.The downside support is at $80,000 and next at $78,000. If the supports crack, the possibility of a drop below $76,606 increases. BNB price analysisBNB (BNB) started a recovery from $507 on March 11, which is facing selling at the 50-day SMA ($621).BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($595) is the critical near-term support to watch out for. If the price rebounds off the 20-day EMA, it suggests that the bulls are buying on minor dips. That improves the prospects of a break above the 50-day SMA. The BNB/USDT pair could then rally toward $686.Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears are fiercely defending the 50-day SMA. The pair may tumble to $550.BNB/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 20-EMA has turned up on the 4-hour chart, and the RSI is in the positive zone, indicating a bullish sentiment. There is resistance at $632, but if buyers overcome it, the pair could jump to $680.This optimistic view will be negated in the near term if the price turns down and breaks below the 20-EMA. The pair may dip to the 50-SMA, which is again likely to attract buyers. A break below the 50-SMA will tilt the advantage in favor of the bears.Toncoin price analysisToncoin (TON) rose sharply from $2.35 on March 11 and reached the 50-day SMA ($3.64) on March 16.TON/USDT daily chart. Source: Cointelegraph/TradingViewThe correction from the 50-day SMA is expected to find support at the 20-day EMA ($3.15). If that happens, it will signal a change in sentiment from selling on rallies to buying on dips. That increases the possibility of a rally above the 50-day SMA. The TON/USDT pair could climb to $4 and later to $5.Contrarily, a break and close below the 20-day EMA suggests that the bears remain active at higher levels. The pair may then drop toward $2.50.TON/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows the up move is facing selling at the $3.60 level, but buyers are expected to defend the 20-EMA on declines. If the price turns up sharply from the 20-EMA, the bulls will try to propel the price above $4.15. If they manage to do that, the pair could jump toward $4.67.Conversely, if the price turns down and breaks below the 20-EMA, it will signal that the bears remain active at higher levels. The pair may drop to the 50-SMA and subsequently to $2.50.Related: Toncoin in ‘great entry zone’ as Pavel Durov’s France exit fuels TON price rallyGate Token price analysisGate Token (GT) has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.GT/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($21.06) is flattening out, and the RSI has risen to the midpoint, indicating that the selling pressure is reducing. If buyers drive the price above the triangle, it will signal the resumption of the upmove. The GT/USDT pair could climb to $24 and eventually to $26.If the price continues lower and closes below the 20-day EMA, it will signal that the pair may remain inside the triangle for a while. The bears will be back in command on a break below the triangle.GT/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows that the bears are finding it difficult to maintain the price below the 20-EMA. That suggests demand at lower levels. Buyers will try to strengthen their position by pushing the price above the resistance line. If they do that, the pair could rally toward $24.Instead, if the price turns down and breaks below the 50-SMA, it will signal that the bullish momentum is weakening. The pair may descend to $19 and eventually to the support line.Cosmos price analysisCosmos (ATOM) broke above the 20-day EMA ($4.31) on March 15, indicating that the selling pressure is reducing.ATOM/USDT daily chart. Source: Cointelegraph/TradingViewThe RSI has formed a positive divergence, suggesting that the bearish momentum is weakening. The 50-day SMA ($4.73) could act as resistance but is likely to be crossed. A close above $5.15 could open the doors for a rally to $6.50.The 20-day EMA is the crucial support to watch out for on the downside. If this support gives way, it will signal that the bears remain sellers on rallies. That could sink the ATOM/USDT pair to $3.50. ATOM/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair started a pullback in the near term, which could reach the 20-EMA. If the price turns up from the 20-EMA, it will signal a positive sentiment where the bulls are buying on dips. That increases the likelihood of a break above $5.15. If that happens, the pair may surge to $5.50 and then to $6.50.This positive view will be invalidated in the near term if the price breaks below the 20-EMA. That could sink the pair to the 50-SMA and later to $3.80.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.