Today: FBI Catches North Korea Red Handed 🇰🇵🏦🚔

Author

Valko
September 08, 2023

Today’s Top Stories ⌐◪-◪

  • 🇰🇵 FBI says North Korean hackers are behind Stake’s $41M crypto heist

  • 🏦 JP Morgan exploring blockchain solution for cross-border payments

  • 🚔 Thodex CEO gets 11,196-year prison sentence from Turkish courts

North Korea's 'Lazarus' Hackers Stole $41 Million From Crypto Gambling Site, FBI Says

Github warned in July that DPRK hackers were targeting crypto and gambling sites.

⌐◪-◪ → Headlines like this unfortunately bolster the case against crypto. This notorious North Korean hacker group has now been linked to over $100M in stolen crypto. I’m definitely not happy about it, but I’m sort of impressed with their hacking skills. Hide yo keys.

JPMorgan exploring blockchain-based payments: Bloomberg

JPMorgan developed much of the infrastructure for the project, which requires a digital deposit token, but can't move ahead with system before getting the go-ahead from U.S. regulators.

⌐◪-◪ → In the last few months, we’ve seen two financial giants, JP Morgan and Blackrock, capitulate into crypto. This is incredibly bullish for the industry, especially when combined with the pending Spot Bitcoin ETF approvals. The best part is, JP Morgan is building a real use case, which will help make crypto’s benefits clear to the average joe.

Founder of Thodex crypto exchange gets 11,000 years

Istanbul courts sentenced Ozer and his two siblings to similar-length jail terms, finding them guilty of aggravated fraud, leading a criminal organization, and money laundering.

⌐◪-◪ → Faruk became a fugitive in April ‘21 after halting trading on Thodex, causing more than 400,000 users to lose funds. I wonder what kind of sentence he would have received in the US? Something tells me we wouldn’t have been as harsh, but I'm not a lawyer. Bottom line: don’t fuck with Turkey.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • Binance enables deposits and withdrawals for zkSync Era

  • Bitcoin mining hash rate hits all-time high

  • Coinbase Ventures’ Base Ecosystem Fund invests in 6 projects

  • Coinbase lays out Phase II of its international expansion plan

🏦 Wall Street & Silicon Valley

  • Helix raises $2M to connect crypto investors with private credit yields

  • Amberdata survey finds that ~50% of asset managers hold crypto

  • Microstrategy BTC “losses” might look better with new FASB rules

🏛️ Legal & Regulatory

  • CFTC brings enforcement action to 3 major DeFi companies

  • Ex-FTX exec Ryan Salame to plead guilty to being a “straw donor”

  • Curve CEO Michael Egorov’s lawsuit is dropped by California courts

  • Pilot program for US crypto regulations proposed by CFTC

  • Crypto tycoon Barry Silbert accused of fraud by Cameron Winklevoss

  • Bernie Madoff’s prosecutor says SBF’s chances at trial are very low

  • Linus Financial settles SEC charges for not registering lending service

🌎 Rest of the World

  • Mexican billionaire says he only holds Bitcoin, gold, and oil

  • Australian fintech to launch Bitcoin backed cash loans

  • Two years ago, El Salvador adopted Bitcoin as legal tender

  • El Salvador launches pilot program to teach Bitcoin in all schools

  • Lugano teaming up with DFINITY to add Chain-Key Bitcoin (ckBTC)

  • Chinese fintech giant Ant Group launches overseas blockchain brand

  • Taiwan crypto authority to issue 10 guiding principles for crypto

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