Failed Exploit Attempt at Bitfinex Highlights Importance of Robust Security Measures

Bitfinex Foils Attempted Exploit of XRP Ledger FeatureAn unknown individual recently made an unsuccessful attempt to exploit a feature of the XRP Ledger at Bitfinex, one of the leading cryptocurrency exchanges. The attacker sought to move billions of dollars worth of XRP, but Bitfinex’s effective security measures prevented the attack from succeeding.Concerns Over Significant Transfer […]

Phishing Attacks on Solana Users Result in Over $4 Million Loss

In a significant security breach, over 4,000 Solana users lost more than $4 million to phishing attacks in December 2023. The data, provided by Scam Sniffer, a scams tracker, reveals that the stolen assets were primarily taken by the rainbow attacker through an airdrop phishing attack. The attackers used “anti-simulation techniques” that prevented wallets from […]

SEC Chairman Addresses Unauthorized Access to Official Twitter Account

The United States Securities and Exchange Commission (SEC) recently experienced a security breach involving unauthorized access to its official Twitter account, @SECGov X. The incident was confirmed by SEC Chairman Gary Gensler, who reassured the public that there was no evidence of the breach extending to SEC systems or data.The unauthorized party gained access to […]

WeekInFocus: Global Crypto News, Job Listings, and Upcoming Events

The WeekInFocus report highlights key developments in the global cryptocurrency sector. In New York, a critical review of BitLicense oversight is looming, with the state’s Comptroller, Thomas DiNapoli, expressing disapproval of its administration at the NYDFS. He suggests the creation of official protocols for the examination follow-up procedure.In Singapore, the Monetary Authority of Singapore (MAS) […]

Hedera Council Allocates Billions for Decentralized Governance Advancements

The Hedera Global Governing Council has approved the allocation of 4.86 billion Hedera, the network’s native cryptocurrency, for advancements in decentralized governance and development. The majority of these funds, amounting to 4.248 billion HBAR, will be received by the HBAR Foundation, the Hashgraph Association, and the DLT Science Foundation, as per a blog post by […]

Wise Lending Exploited, Loses $440,000 in Ether and $2.9M in stETH

Wise Lending, a Web3 lending software and yield aggregator, was reportedly exploited on January 12, losing 170 Ether, currently valued at $440,000. The attacker is believed to have used a flash loan to manipulate the pricing of an Oracle, employing an unverified contract with an address ending in d82c to siphon off the funds.This contract […]

Senators Demand Probe into SEC’s Cybersecurity Following Account Hack

US Senator Ron Wyden, who also serves as the Chairman of the Senate Finance Committee, has called for an official investigation into the recent hacking of the US Securities and Exchange Commission’s (SEC) X account. The request, co-authored by crypto advocate Cynthia Lummis, also seeks to probe the SEC’s alleged failure to implement the best […]

SEC Evaluates Impact of Cybersecurity Breach on Crypto Agencies

The Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, has confirmed that there is currently no evidence of unauthorized access to SEC systems, data, devices, or other social media accounts. This statement comes in response to a cybersecurity incident involving unauthorized access to the SEC’s @SECGov X account, previously known as […]

Lawmakers Call for SEC Cybersecurity Investigation Following Breach

U.S. Senators Ron Wyden and Cynthia Lummis have called for an investigation into the U.S. Securities and Exchange Commission (SEC) following a security breach. The lawmakers penned a letter to the SEC’s Inspector General, Deborah Jeffrey, on January 11, requesting an inquiry into the breach that took place two days prior and the agency’s failure […]

Crypto Firms Face Record Fines Amid Regulatory Scrutiny

In a significant development, crypto firms faced substantial regulatory action last year, collectively paying nearly $6 billion in fines. These fines were primarily due to Anti-Money Laundering (AML) violations and deficiencies in customer checks. For the first time, crypto and fintech groups experienced higher fines for inadequate controls than the entire traditional financial system.The total […]