The US Securities and Exchange Commission (SEC) recently fell victim to a cyber attack when hackers employed a SIM swapping technique to gain control over its social media account. This article provides a comprehensive overview of the hack, including the events leading up to it, the methods employed by the hackers, the response from the SEC, and the ongoing investigation.
The landscape of financial services is on the brink of transformative change, driven by disruptive technological and scientific innovations that have the potential to reshape the industry. The future of payments is intricately linked to the convergence of five distinct “worlds,” each poised to revolutionize how payments are processed and redefine the role of financial services in society. The Inner
The world of cryptocurrencies has recently witnessed yet another major security breach, as the MailerLite hack has resulted in a significant theft of digital assets. With over $580,000 worth of crypto lost in the attack, this incident underscores the need for heightened security measures within the industry. The Attack and Initial Response The attack originated from a breach in the
In a major breakthrough, Socket, the interoperable blockchain network, has successfully retrieved 1,032 Ether tokens valued at $2.3 million that were stolen during a recent cyber attack. The incident, which occurred on January 16, resulted in the theft of millions of dollars in funds. Socket’s prompt response and diligent efforts have led to the recovery of a significant portion of
South Korea’s financial regulators are taking cautious steps, while their US counterparts forge ahead with rapid progress in crypto regulation. This discrepancy has raised concerns among experts and critics who argue that South Korea needs to establish a dedicated organization to effectively regulate crypto assets, mirroring the approach taken by US regulators. Lack of Dedicated Organization at the Financial Services
In the world of cryptocurrencies, stablecoins have gained significant attention due to their ability to mitigate the volatility often associated with digital assets. Analysts from CoinShares have made a bold prediction, stating that a Bitcoin-based stablecoin will emerge in 2024. This development could have far-reaching implications for the cryptocurrency industry, as it combines the stability of Bitcoin with the benefits
Lawmakers in the United States are exerting pressure on Meta Platforms Inc (NASDAQ: META), formerly known as Facebook, to reveal its plans regarding cryptocurrency and blockchain. The US House Financial Services Committee is leading the charge, urging the tech giant to disclose any initiatives it may have in these areas. This article delves into the committee’s efforts, Meta’s trademark applications,
The global blockchain finance market has witnessed remarkable growth in recent years. Blockchain technology, originally developed to support cryptocurrencies like Bitcoin, has now emerged as a transformative force in the financial sector. Its decentralized and immutable nature has the potential to streamline processes, enhance transparency, and reduce costs across various financial applications. This article delves into the market’s size, growth,
In an extraordinary feat, a talented developer named Mini Doge has made headlines by successfully launching the iconic 1993 game Doom on the Dogecoin blockchain. This groundbreaking accomplishment is made possible through the use of a revolutionary technology known as “inscriptions.” Let’s delve into the details of Mini Doge’s achievement and how inscriptions played a crucial role. The Groundbreaking Technology
In today’s fast-paced world, the demand for efficient and secure data capture methods has escalated dramatically, paving the way for the widespread adoption of contactless scanners. Leveraging advanced technologies, contactless scanners have revolutionized data capture by eliminating the need for physical contact. This article delves into the thriving Contactless Scanner Market, exploring its growth drivers, competitive landscape, regional trends, and
CoinShares’ latest Digital Asset Fund Flows Weekly Report reveals a remarkable $4.13 billion in inflows since the launch of the first spot Bitcoin Exchange-Traded Fund (ETF) on January 11. This surge in investments marks a significant shift in the crypto investment landscape. In contrast, traditional crypto fund managers have experienced substantial outflows totaling $2.9 billion over the last two weeks,
Coinbase, one of the largest cryptocurrency exchanges in the United States, has voiced its criticism against the US Treasury’s proposed rulemaking on cryptocurrency mixing. In its official comment, Coinbase argued that the proposed rules fail to effectively address regulatory gaps while placing unnecessary burdens on crypto platforms. Let’s delve into Coinbase’s objections and proposed solutions in detail. Inefficiency of reporting
