The Department of Foreign Asset Control (OFAC) coordinated with South Korea to sanction three individuals that the agency said provided material support to the...

by Paul Ducklin DO WE REALLY NEED A NEW “WAR AGAINST CRYPTOGRAPHY”? We talk to renowned cybersecurity author Andy Greenberg about...

The Solana price has been on an upswing ever since the bloodbath that followed DeFi’s largest hack of 2022. The Wormhole network stated that stolen money had been restored, giving Solana price some much-needed relief. Related Reading | Solana price recovers from downtrend after $325 million restored on Wormhole network After hours of being lost to what some call the largest DeFi hack, the crypto was restored. Jump Crypto’s currency-focused arm worked in tandem with other Quant trading firms, and together, they were able to restore all funds that hackers had stolen from investors last week. Jump Crypto stated; “we believes in a multichain future and that Wormhole is essential infrastructure. That’s why we replaced 120k ETH to make community members whole and support Wormhole now as it continues to develop.” The firm’s decision to replace 120,000 Ether in support of community members on the Wormhole network revealed that hackers failed to refabricate stolen cryptocurrencies. Yesterday’s exploit compromised $325 million worth of Ether, and the Wormhole network offered a 10-million dollar bounty for information on who did it. Unfortunately, the hacker still has access to these funds, meaning they have rejected the offer. Related Reading | Wormhole Token Bridge Lost $321M In Crypto Heist Solana Price Recovery From Bloodbath The price of Solana dropped nearly 10% after news broke about the Wormhole exploit. The largest DeFi hack on Solana acted as a negative factor for this altcoin, heavily influenced by lousy publicity.  A cryptocurrency analyst and trader widely followed for his accurate price predictions by investors of all sizes across the board, Johny noticed that Solana might be ready to make its next move up. Further, he noted an upward pattern developing within range lows before Ethereum killer could start its leg straight back down again. “$SOL beautiful retest of range lows. Flip range highs and next leg upstarts. Haven’t seen this much strength from Solana in what feels like forever.” Bitcoin’s fall to the $36,250 level triggered a dip for major altcoins. While most coins were red on Thursday, Solana also dipped nearly 10%. The larger market experienced a dip as well due to bitcoin’s movements. What a difference a day makes! Solana dipped more than most of its counterparts in the top ten cryptocurrencies by market cap, but it charted an equally good recovery at press time. After an attack on Wormhole, SOL dipped to as low as $94 on February 3. However, the price saw some recovery and even managed a decent pump before long. The price of Solana is rising once again. As I’m writing these words, the currency had traded at $108 and presented 11.7% daily and 18.75% weekly gains. With trade volumes still maintaining low, some say that the spot markets are still too uncertain about investing in, but a decent price push could change investors’ mood for good. Featured image from Pixabay, chart from TradingView.com  

Crypto.com CEO Kris Marszalek confirmed to Bloomberg that the crypto exchange did suffer a security breach, as reported earlier this week. Appearing on Bloomberg TV on Wednesday, Marszalek stated that about 400 accounts were affected in the cyberattack that exchange suffered. Marszalek stated that the attackers carried out unauthorized withdrawals from the affected accounts but that the […]

Crypto exchange giant Crypto.com has become the latest target of a cyberattack as around $15 million worth of cryptocurrencies have been stolen, according to security and data analytics firm PeckShield. At least 4,600 Ether has been siphoned from some accounts of the exchange. The analytics company further cited blockchain data detailing that half of the […]

North Korean hackers stole almost $400 million worth of cryptocurrencies from at least seven attacks on crypto platforms last year, blockchain analysis firm Chainalysis said in a report. The report noted that it was one of the most successful years on record for hackers to steal such large amounts of crypto with the attacks mainly targeted at investment firms and centralized exchanges. “From 2020 to 2021, the number of North Korean-linked hacks jumped from four to seven, and the value extracted from these hacks grew by 40 percent,” said the report, which was released on Thursday. Many of last year’s attacks were likely carried out by the Lazarus Group, a hacking group sanctioned by the United States, which is believed to be controlled by North Korea’s primary intelligence bureau, the Reconnaissance General Bureau. The attackers used a number of techniques to launder the stolen cryptocurrencies including mixers, or software tools that pool and scramble cryptocurrencies from thousands of addresses to siphon funds from the organizations’ hot wallets and then move them into North Korean-controlled addresses, Chainalysis said. “Once North Korea gained custody of the funds, they began a careful laundering process to cover up and cash out,” the report added. Per the report, Bitcoin now accounts for less than one-quarter of the stolen cryptocurrencies or 20 percent of the stolen funds. In contrast, Ethereum makes up the vast majority of stolen funds with 58 percent. The report also identified $170 million in old, unlaundered cryptocurrency holdings from 49 separate hacks from 2017 to 2021.

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