DeFi

Exposing North Korean Infiltration in Crypto Projects

Friday. August 16 at 8:30 AM

1 min. read
Exposing North Korean Infiltration in Crypto Projects

Crypto investigator ZachXBT has uncovered a sophisticated scheme where North Korean IT workers infiltrated a crypto project, stealing $1.3 million. The theft involved developers hired under false identities who inserted malicious code to transfer funds. The stolen money was laundered through various platforms, including Solana, Ethereum, and Tornado Cash. ZachXBT's investigation revealed a network of North Korean operatives involved in over 25 crypto projects, with connections to a sanctioned individual. The perpetrators exhibited unusual behaviors, such as IP overlaps and accidental leaks of identities. ZachXBT advised affected projects to enhance security measures and watch for suspicious indicators. The case highlights the industry's vulnerability to malicious actors and the need for thorough background checks. CryptoSlate, a trusted source for crypto news, provides insights on market trends and expert analysis. Readers are urged to conduct their own research before engaging in cryptocurrency activities.

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Growth of Crypto Valley in 2024

Growth of Crypto Valley in 2024

Wednesday. January 22 at 5:00 PM

In 2024, Crypto Valley in Switzerland surpassed a valuation of $593 billion, showcasing the European blockchain industry's growth. The ecosystem, consisting of 50 projects, saw a 55% increase in cumulative valuation. Among these projects, 17 achieved unicorn status with valuations exceeding $1 billion, 14 of which through token market capitalization. The growth of Crypto Valley reflects Switzerland's potential in driving blockchain innovation. The founder of CV VC emphasized the importance of maintaining a collaborative environment to attract talent and capital. The region attracted $586 million in investments in 2024, accounting for nearly one-third of European blockchain funding. The median deal size increased by 70% to $5.6 million, surpassing the global median. Centralized financial services received the most funding, while blockchain networks and DeFi platforms also saw significant investments. Data management and verification emerged as the fastest-growing segment, while gaming and NFTs attracted minimal investment.

DeFi

Supporting Ethereum's DeFi Ecosystem

Supporting Ethereum's DeFi Ecosystem

Tuesday. January 21 at 12:00 PM

The Ethereum Foundation has announced plans to allocate 50,000 Ether, valued at approximately $165 million, to bolster Ethereum's decentralized finance ecosystem. Vitalik Buterin, the co-founder of Ethereum, revealed on Jan. 20 that the foundation will undergo structural changes to better assist application developers and enhance transparency within the community. The funds will be stored in a secure multisig wallet on Safe, with a test transaction already completed on the Aave lending protocol. Despite the delay in setting up the wallet, the foundation aims to benefit from the DeFi ecosystem to replenish its treasury, which has decreased by 56% since January 2020. Some critics, like Kain Warwick, have questioned the foundation's commitment to DeFi, while others have raised concerns about the selling pressure on Ether. However, Buterin clarified that the foundation's focus remains on creating value rather than profit, distancing itself from lobbying efforts and emphasizing neutrality.

DeFi

Exploring Alternatives to Selling ETH: Ethereum Foundation's Staking Concerns

Exploring Alternatives to Selling ETH: Ethereum Foundation's Staking Concerns

Tuesday. January 21 at 5:00 AM

Members of the Ethereum community are urging the Ethereum Foundation to stake its Ether for interest instead of selling tokens to cover expenses. Vitalik Buterin, the co-founder, mentioned the foundation is looking into ways to address staking concerns. The organization currently uses the Ethereum mainnet to swap Ether for stablecoins and make payments. Suggestions were made for the foundation to stake a portion of their holdings and sell the rewards or use Aave to borrow stablecoins against ETH. However, Eric Conner criticized the foundation's practice of selling ETH, proposing staking and utilizing DeFi for budget coverage. Buterin expressed reservations about staking due to regulatory risks and potential involvement in contentious hard forks. Despite concerns, Buterin mentioned exploring ways to mitigate risks. The community continues to discuss alternatives to selling ETH for funding development.

DeFi

Binance Adapts to EU Regulations in Poland

Binance Adapts to EU Regulations in Poland

Saturday. January 18 at 1:00 PM

Binance has adjusted its cryptocurrency deposit and withdrawal processes in Poland to comply with the EU's Markets in Crypto-Assets Regulation (MiCA). Effective Jan. 20, users must provide additional information for transactions exceeding 1,000 euros. Deposits require sender details like full name, country, and exchange name, while withdrawals need beneficiary information. The updates only impact crypto transfers, with potential delays or returns for incomplete data. MiCA, in force since Dec. 30, 2024, sets standards for crypto services, enhances consumer safeguards, and tackles AML issues. It mandates detailed sender and recipient data for transfers over 1,000 euros. Poland recognizes cryptocurrency activities like mining and trading, taxed at 19%. The country is also developing a regulatory framework for VASPs to align with MiCA. Presidential candidate Sławomir Mentzen aims to make Poland a crypto-friendly hub if elected in 2025, amid the region's growing DeFi prominence.

DeFi