cryptocurrency News

North Korean-Linked Hackers Are Targeting Crypto Platforms More But Stealing Less

The number of North Korean-linked hacks of cryptocurrency platforms rose to a record high in 2023, though the actual amount of funds stolen dropped around 40%, a report Wednesday from blockchain analysis firm Chainalysis Inc. showed. In a series of …

SEC Approves Bitcoin ETFs in Watershed for Crypto Market

The U.S. securities regulator on Wednesday approved the first U.S.-listed exchange traded funds (ETFs) to track bitcoin, in a watershed for the world’s largest cryptocurrency and the broader crypto industry. The Securities and Exchange Commission said it approved 11 applications, …

Sam Bankman-Fried Will Not Face a Second Trial

U.S. prosecutors said they do not plan to conduct a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange. In a letter filed on Friday night in federal court …

SEC Says Its Binance Case Should Advance Despite DOJ Settlement

The Securities and Exchange Commission says Binance Holdings Ltd.’s recent $4.3 billion settlement with the Justice Department and other US authorities bolsters its own case against the world’s biggest crypto exchange. Despite not being part of the agreement, the SEC …

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, …

Binance Was Used to Funnel Money to Hamas, Other Militant Groups

In February 2019, Binance Holdings Ltd.’s then-Chief Compliance Officer Samuel Lim acknowledged that the cryptocurrency exchange was being used to funnel money to Hamas, explaining to a colleague that terrorists normally sent “small sums.” Hamas could “barely buy an AK47 …

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 …

Bankman-Fried Acknowledges ‘Mistakes’ But Testifies He Did Not Defraud Anyone

Sam Bankman-Fried, testifying in his own defense at his fraud trial on Friday, acknowledged that a “lot of people got hurt” when the FTX cryptocurrency exchange he founded collapsed, but said he did not defraud anyone or take customer funds. …

New York Attorney General Sues Crypto Firms Gemini, DCG, Genesis for Alleged Fraud

bankruptcybakruptNew York Attorney General Letitia James on Thursday sued cryptocurrency firms Genesis Global, its parent company Digital Currency Group (DCG) and Gemini for allegedly “defrauding” investors of more than $1 billion. The development underscores the challenges the crypto industry continues …

Bankman-Fried Was ‘Math Nerd’ Who Overlooked Risk Management

Sam Bankman-Fried’s lawyer laid out his defense case at his fraud trial on Oct. 4, portraying the 31-former billionaire as a “math nerd” who overlooked risk management in building his FTX exchange, but did not steal customer money. Bankman-Fried has …