aculthe06

@aculthe06

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Training at Stripe Waseda Hilma Dojo for intense Jiu-Jitsu sessions. Leveling up skills and discipline daily.

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Currently savoring a wholesome meal at a local eatery featuring Yume Tsukushi rice from Soeda Town in Fukuoka and Hishimitsu soy sauce. This truly embodies the ultimate luxury experience.

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According to Zhou, the Bybit hackers primarily used the decentralized exchange THORChain to cash out ETH and BTC. Other platforms like ExCH and OKX Web3 Proxy were also used to move some of the funds.

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According to Zhou, the next one to two weeks will be critical for freezing additional funds before the attackers attempt to cash out through crypto exchanges, over-the-counter (OTC) platforms and peer-to-peer (P2P) transactions.

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Investigators have so far helped freeze $42 million, equivalent to 3% of the stolen funds.

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By saying “gone dark,” Zhou indicated that 20% of the stolen funds had been successfully mixed, laundered or sent to platforms that obscure transactions by the North Korean hackers.

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“Total hacked funds of USD 1.4bn around 500k ETH, 77% are still traceable, 20% has gone dark, 3% have been frozen,” Zhou said.

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Bybit CEO Ben Zhou confirmed that $280 million of the $1.4 billion stolen from the exchange has been laundered and is no longer traceable. Still, about $1.07 billion remains trackable, allowing investigators to continue their efforts to recover the funds.

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Apart from Circle, SBI VC Trade and its parent company, SBI, have closely collaborated with other major companies in the United States, such as Ripple.

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“Stablecoins are used soundly for the sophistication of remittance and settlement. I hope it will be done,” Ito stated in the speech, according to a report by the local news agency Nikkei.

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Coinbase was the first crypto firm to see relief. The SEC agreed to drop its enforcement action against the company after a lengthy legal battle lasting well over a year.

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Another sector of crypto crime continues to thrive in plain sight through simple market manipulation. Decentralized exchanges (DEXs) remain fertile ground for wash trading, where fraudsters orchestrate schemes that inflate trading volumes and deceive investors. The crypto firm CLS Global just pleaded guilty to wash-trading a token made by the US Federal Bureau of Investigation (FBI) for a cyber sting operation.

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“Polygon PoS continues to be the leading [Ethereum Virtual Machine] chain with almost 30% of all app action transactions, meaning transactions beyond basic token operations like approvals, transfers and wrapping,” he said.

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Set to be implemented in 2027, the DeFi broker rule holds decentralized exchanges to the same reporting requirements as traditional brokers.

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The letter advocates supporting Cruz’s Congressional Review Act (CRA) resolution, S.J.Res. 3, which seeks to repeal a regulatory rule that expands the definition of a “broker” under US law to include software providers that enable access to DeFi protocols.

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The letter was signed by major crypto organizations, including 0x Labs, a16z Crypto (Andreessen Horowitz’s crypto division), Aptos Labs, Crypto.com, Grayscale, Dapper Labs and Ava Labs.

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On Feb. 19, the Blockchain Association sent a letter to Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries urging the repeal of an anti-crypto regulation finalized during the final days of the former President Joe Biden’s administration.

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The Blockchain Association, representing 76 cryptocurrency organizations, called on congressional leaders to support Senator Ted Cruz in repealing the Internal Revenue Service’s (IRS) decentralized finance (DeFi) broker rule.

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Meanwhile, prediction market platform Kalshi is reportedly preparing to launch its own Fort Knox-related betting markets. Kalshi’s head of growth, Brandon Beckhardt, indicated that these markets may go live as early as Feb. 20.

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Venice said there was no presale to “outside investors,” and no governance mechanism is in place.

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