Articles by Olga Kharif

Kraken Is Latest Crypto Firm to Say SEC Agrees to Drop Lawsuit

Kraken said the US Securities and Exchange Commission has agreed in principle to drop its lawsuit against the cryptocurrency exchange, the latest in a series of dismissals of legal actions against crypto companies by the market regulator. There will be …

Bybit Hit by Crypto’s Worst Hack With Almost $1.5 Billion Stolen

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible. A …

North Korean Hackers Stalk Crypto Startups Scrimping on Security

It’s every cryptocurrency project’s nightmare: Well-resourced hackers — perhaps backed by a rogue state like North Korea — strike out of nowhere, dismantling cyber defenses and making off with millions of dollars in customer funds. Many crypto outfits, large and …

Hackers Stole About $1.7 Billion This Year From Crypto Projects

The amount of funds crypto projects lost to hackers has declined by about half to around $1.7 billion so far this year, amid improved security measures and an uptick in law enforcement actions. Even with any additional hacks in December, …

US Is Seeking More Than $4 Billion From Binance to End Case

The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. Negotiations between the Justice Department and Binance include the possibility …

‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto

Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After being plagued for years by hackers seeking …

Hacker Gets $50 Million in Heist of DeFi’s Mango

The community of decentralized-finance application Mango DAO on Saturday got back a portion of about $100 million stolen this week after letting the hacker keep about $50 million of the funds. The settlement wraps up several days of tense negotiations …

Hackers Steal $100 Million by Exploiting Crypto’s Weak Link

Hackers looted about $100 million from a so-called cryptocurrency bridge, again exposing a key vulnerability in the digital-asset ecosystem. Blockchain Harmony said in a tweet that the hack of its Horizon bridge, which lets people swap coins between different blockchains, …

Behind the Crypto Broker Accused of Enabling Ransomware Hackers

A cryptocurrency broker that the Biden administration considers a key cog in the recent ransomware epidemic is legally registered in the Czech Republic but doesn’t appear to have an office there. It may be operating out of Moscow’s tallest skyscraper …

Software Developers Launching Type of Insurance Cover for Cryptocurrencies

Adventurers in what is perhaps the most lucrative and risky corner of the cryptocurrency world are starting to see a bit of a safety net. In the past year, scores of investors big and small have poured billions into decentralized-finance …