The cryptocurrency landscape witnessed a series of cybersecurity breaches this week, with CoinEX and billionaire investor Mark Cuban among the victims. CoinEX, a Hong Kong-based cryptocurrency exchange, suffered a security breach on September 12, resulting in losses ranging from $27.8 million to a staggering $54 million from their Ethereum hot wallet. The Lazarus Group, a hacker organization with suspected ties to North Korea, is believed to be behind the CoinEX hack. This group has been linked to a series of attacks over 102 days, amassing over $270 million from major crypto platforms.
In another incident, Mark Cuban lost $870,000 due to a MetaMask hack. However, he managed to save $2 million by transferring assets before the hackers could access them. Meanwhile, Ethereum co-founder Vitalik Buterin faced a breach on his X account, leading to a loss of $691,000 for users who fell for a phishing scam.
Despite these challenges, the adoption of cryptocurrency and blockchain technology continues to grow. PayPal introduced a feature allowing merchants to offer web3 payments to their customers. Sony partnered with Startale Labs for a blockchain project aimed at transforming the web3 landscape. Deutsche Bank collaborated with Swiss firm Taurus to provide custody services for cryptocurrencies, focusing on institutional clients. Franklin Templeton applied for regulatory clearance to launch a Bitcoin ETF in the U.S.
However, BinanceUS faced workforce challenges, laying off a third of its staff following the departure of CEO Brian Shroder. Regulatory issues with the SEC have been cited as the reason for these changes, with the SEC alleging non-compliance in BinanceUS’s operations.
Source: crypto.news
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