From Sony to Bybit: How Lazarus Group became crypto’s supervillain
The Lazarus Group, a notorious hacking ring, has been making headlines in the cryptocurrency industry for their massive thefts of over $6 billion since 2017. This group, also known as Hidden Cobra, has been responsible for some of the largest and most sophisticated cyber attacks targeting cryptocurrency exchanges and users.
Their latest attack, which occurred in March 2021, targeted a major cryptocurrency exchange and resulted in the theft of over $200 million worth of digital assets. This is just one of many high-profile attacks that the Lazarus Group has carried out in recent years, solidifying their reputation as one of the most prolific and successful hacking groups in the world.
But who exactly is the Lazarus Group and how have they managed to pull off such massive heists? The group is believed to be based in North Korea and is thought to be backed by the country’s government. They have been active since at least 2009 and have been linked to a wide range of cyber attacks, including the infamous Sony Pictures hack in 2014.
Their primary target, however, seems to be the cryptocurrency industry. With the rise of digital assets and the increasing popularity of cryptocurrency exchanges, the Lazarus Group saw an opportunity to exploit vulnerabilities and steal millions of dollars in crypto. And unfortunately, they have been quite successful in their endeavors.
But despite their success, authorities and cybersecurity experts are working tirelessly to track down and stop the Lazarus Group. In fact, in 2018, the US Department of Justice charged and sanctioned three North Korean hackers believed to be part of the group. This was a major blow to the Lazarus Group, but they continue to operate and pose a significant threat to the cryptocurrency industry.
As the use of cryptocurrency continues to grow, it is crucial for exchanges and users to prioritize cybersecurity and stay vigilant against potential attacks from groups like the Lazarus Group. Only by working together and implementing strong security measures can we protect our digital assets and prevent further thefts from occurring.
Nasdaq files to list Grayscale Polkadot ETF
Nasdaq’s filing adds to an expanding list of proposed altcoin ETFs awaiting SEC approval in the United States.
Bitcoin enters 'technical bear market' as BTC price drops 20% from all-time high
The Bitcoin market has been experiencing a downward trend, with the bears taking control and pushing the price further away from the $109,000 mark. Despite the initial excitement and optimism surrounding the cryptocurrency, it seems that selling pressure has kept the bulls at bay and prevented any significant gains.
The current price action of BTC has left many investors and traders disappointed, as they were hoping for a continued upward trajectory. However, the reality is that the bears have been able to maintain their dominance, causing the price to drop and leaving the $109,000 milestone far behind.
This recent turn of events has sparked debates and discussions among experts and analysts, with some attributing the decline to profit-taking and others pointing to external factors such as regulatory concerns and market manipulation. Regardless of the cause, it is clear that the bears are currently in control and are dictating the direction of the Bitcoin market.
Despite this setback, many remain optimistic about the future of BTC and the overall cryptocurrency market. The volatility and unpredictability of the market are not new, and it is not uncommon for prices to fluctuate in both directions. In fact, some see this as an opportunity to buy in at a lower price and potentially reap the rewards when the market eventually turns around.
As always, it is important for investors to do their own research and make informed decisions when it comes to their investments. While the current market conditions may be discouraging, it is crucial to remember that the cryptocurrency market is still in its early stages and has a lot of potential for growth and development.
In conclusion, the recent price action of BTC may have left the $109,000 mark far behind, but it is not the end of the road for Bitcoin and the cryptocurrency market. The bears may be in control now, but the market is known for its resilience and ability to bounce back. Only time will tell what the future holds for BTC, but one thing is for sure – the cryptocurrency market is always full of surprises.
Bitcoin has ‘no real economic need,’ says ECB adviser
As the cryptocurrency market continues to experience volatility, with Bitcoin falling below $88K and causing widespread liquidations, the debate over its value and role in the economy has resurfaced. Recently, European Central Bank (ECB) adviser Jürgen Schaaf made headlines by dismissing the need for BTC reserves, citing its volatility and lack of economic necessity.
Schaaf’s comments come at a time when many traditional financial institutions and governments are still hesitant to fully embrace cryptocurrencies. While some have started to dip their toes into the market, others remain skeptical and view it as a speculative asset rather than a legitimate form of currency.
However, the growing adoption and use of cryptocurrencies by individuals and businesses cannot be ignored. Despite its volatility, Bitcoin has proven to be a valuable asset for many, with its decentralized nature and limited supply making it an attractive alternative to traditional fiat currencies.
Moreover, the recent market downturn has not deterred the long-term potential of Bitcoin and other cryptocurrencies. In fact, many experts believe that the current dip is just a temporary setback and that the market will continue to grow and evolve.
While it is true that Bitcoin’s value can fluctuate significantly, this is not uncommon in the world of finance. Traditional assets such as stocks and commodities also experience volatility, and yet they are still widely accepted and used in the global economy.
Furthermore, the argument that Bitcoin lacks economic necessity is also being challenged. With the rise of decentralized finance (DeFi) and the increasing number of merchants accepting cryptocurrencies as payment, it is clear that there is a growing demand for alternative forms of currency.
In conclusion, while Schaaf’s dismissal of BTC reserves may hold some validity, it is important to consider the bigger picture and the potential of cryptocurrencies in the long run. As the market continues to mature and evolve, it is likely that we will see a greater acceptance and integration of cryptocurrencies into our daily lives.
Paolo Ardoino: Competitors and politicians intend to ‘kill Tether’
In a recent interview, Paolo Ardoino, the Chief Technology Officer of Bitfinex, shared his insights on the current state of the cryptocurrency market and the role of digital assets in the business and political world. According to Ardoino, every meeting, whether it be in the business or political sphere, ultimately leads to discussions about cryptocurrencies and their potential impact.
As the CTO of one of the leading cryptocurrency exchanges, Ardoino has a unique perspective on the industry. He believes that the growing interest in digital assets is a result of their ability to provide financial freedom and decentralization. With traditional financial systems facing challenges and limitations, more and more people are turning to cryptocurrencies as a viable alternative.
Ardoino also highlighted the role of blockchain technology in revolutionizing various industries, such as finance, supply chain, and healthcare. He believes that the transparency and immutability of blockchain can bring significant improvements and efficiencies to these sectors.
When asked about the recent surge in the value of Bitcoin, Ardoino stated that it is a reflection of the growing adoption and acceptance of cryptocurrencies. He also emphasized the importance of education and understanding in the cryptocurrency market, as it is still a relatively new and evolving industry.
In addition to discussing the current state of the market, Ardoino also shared his thoughts on the future of cryptocurrencies. He believes that digital assets will continue to gain mainstream acceptance and become an integral part of our daily lives. He also predicts that the use of stablecoins, which are cryptocurrencies pegged to a stable asset like the US dollar, will increase in the coming years.
In conclusion, Ardoino’s insights shed light on the growing influence of cryptocurrencies in the business and political world. As more and more people recognize the potential of digital assets, it is clear that they will play a significant role in shaping the future of finance and technology.
DeFi revives the spirit of capitalism
Decentralized finance, or DeFi, is revolutionizing the traditional financial system by providing a more inclusive and transparent alternative. With DeFi, everyone has the opportunity to participate in the financial market and benefit from its potential growth.
Unlike the traditional financial system, which is controlled by a few powerful institutions, DeFi is built on a decentralized network of blockchain technology. This means that there is no central authority or intermediary controlling the flow of money. Instead, transactions are verified and recorded by a network of computers, making it virtually impossible to manipulate or censor.
One of the key benefits of DeFi is its inclusivity. In the traditional financial system, access to financial services is often limited to those with a certain level of wealth or credit score. This creates a barrier for many individuals and communities, especially in developing countries, to participate in the global economy. With DeFi, anyone with an internet connection can access financial services and participate in the market, regardless of their background or location.
Moreover, DeFi is also bringing transparency to the financial world. In the traditional system, financial transactions and data are often hidden behind closed doors, making it difficult for the average person to understand and trust. DeFi, on the other hand, operates on a public blockchain, where all transactions and data are visible to everyone. This not only promotes trust and accountability but also allows for more efficient and accurate auditing.
In addition to its inclusive and transparent nature, DeFi also offers a wide range of financial services, such as lending, borrowing, and trading, without the need for intermediaries. This not only reduces costs but also eliminates the risk of human error or manipulation.
In conclusion, DeFi is not just a buzzword, but a game-changer in the world of finance. It is creating a more equitable and transparent financial system, where everyone has the opportunity to participate and benefit. As more people become aware of its potential, we can expect to see a significant shift towards DeFi in the near future.
How market fragmentation impacts OTC trading: Report
“Uncovering the Challenges of Institutional Investing in the Fragmented Crypto Market”
In recent years, the cryptocurrency market has seen a surge in interest from institutional investors. These large financial institutions, such as hedge funds, pension funds, and asset managers, have been drawn to the potential high returns and diversification benefits that cryptocurrencies offer. However, as they enter this new and rapidly evolving market, they are faced with a unique set of challenges.
One of the main obstacles that institutions face in the crypto market is fragmentation. Unlike traditional financial markets, the crypto market is highly fragmented, with thousands of different coins and tokens traded on various exchanges. This makes it difficult for institutions to gain a comprehensive view of the market and make informed investment decisions.
Furthermore, the lack of regulation in the crypto market adds another layer of complexity for institutions. Without clear guidelines and oversight, institutions must navigate the risks and uncertainties of investing in a relatively unregulated market. This can be a daunting task for institutions that are used to operating in highly regulated environments.
To overcome these challenges, institutions are turning to specialized crypto investment firms that offer services such as market research, risk management, and portfolio management. These firms have the expertise and resources to help institutions navigate the complexities of the crypto market and make informed investment decisions.
Another approach that institutions are taking is to invest in crypto-related products, such as futures contracts and exchange-traded funds (ETFs). These products provide a more familiar and regulated way for institutions to gain exposure to the crypto market.
In conclusion, while the potential for high returns in the crypto market is enticing for institutions, they must also navigate the challenges caused by fragmentation and lack of regulation. By partnering with specialized firms and exploring alternative investment products, institutions can overcome these obstacles and tap into the opportunities that the crypto market has to offer.
BTC price levels to watch as Bitcoin skids to 3-month lows under $87K
As the cryptocurrency market continues to experience volatility, all eyes are on Bitcoin whales as potential sources of support for the BTC price. These large holders of Bitcoin have the power to influence the market and their actions are closely monitored by traders and investors.
Recently, a mass liquidation cascade caused a sharp drop in the price of Bitcoin, leading to panic and uncertainty among market participants. However, many experts believe that this could be a temporary setback and that Bitcoin whales may step in to provide support and stabilize the market.
Bitcoin whales are individuals or entities that hold a significant amount of Bitcoin, often referred to as “whales” due to their ability to make big waves in the market. These whales are known to have a strong influence on the price of Bitcoin, as their buying and selling activity can cause significant fluctuations.
While some may view the power of Bitcoin whales as a cause for concern, others see it as a positive aspect of the cryptocurrency market. These large holders are often seen as long-term investors who have a vested interest in the success of Bitcoin. Their actions are driven by their belief in the potential of the cryptocurrency and their desire to see it thrive.
In addition to providing support during times of market volatility, Bitcoin whales also play a crucial role in the overall adoption and acceptance of Bitcoin. As more whales enter the market and hold a significant amount of Bitcoin, it adds legitimacy and stability to the cryptocurrency.
So, while the recent liquidation cascade may have caused some panic, it’s important to remember that Bitcoin whales are likely to step in and provide support. Their actions not only help to stabilize the market, but also contribute to the long-term success of Bitcoin. As the cryptocurrency market continues to evolve, the role of Bitcoin whales will remain a key factor to watch.