ames2oave

@ames2oave

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Finally made it after hours of hiking. Completely worn out but so worth it. At the foot of the snowy mountains.

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On March 3, the IMF issued a new request for an extended arrangement under its fund facility to El Salvador, filing several new documents, including a staff statement update and a statement by its executive director for El Salvador.

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The International Monetary Fund (IMF) is looking to restrict Bitcoin purchases by El Salvador as part of an extended $1.4 billion funding arrangement with the country.

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On Feb. 26, Bybit confirmed that forensic reviews conducted by Sygnia and Verichains revealed that “the credentials of a Safe developer were compromised [...] which allowed the attacker to gain unauthorized access to the Safe(Wallet) infrastructure and totally deceive signers into approving a malicious transaction.”

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The exchange said users will have until the end of the first quarter of 2025 to convert affected tokens to MiCA-compliant assets. Any remaining holdings will be automatically converted to a compliant stablecoin or asset of corresponding market value.

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The world’s second-largest cryptocurrency has been in a downtrend since peaking above $4,100 on Dec. 16, 2024, marking its highest level since December 2021, according to TradingView data.

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Chow said neither he nor the Meteora team ever receive or manage tokens “on the side” nor do they receive knowledge concerning “off-chain dealings.”

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In an earlier Feb. 17 statement on X, Chow also denied any insider activity at Meteora surrounding the launch of LIBRA.

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While some commentators have hurled accusations at Meteora’s team for conspiring with Hayden Davis at Kelsier Ventures — the man behind the LIBRA token — Meow claimed that no one from either Meteora or Jupiter had been involved in any wrongdoing:

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Meow said the resignation was related to Chow’s “lack of judgment and care” over certain core aspects of the project over the last few months, without elaborating further.

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Meanwhile, Ben Chow, the co-founder of Meteora, has reportedly resigned from his role at Meteora, according to a Feb. 18 post to X from fellow Meteora co-founder and Jupiter founder Meow.

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Alon said priorities should include educating users on how to safely and ethically create coins, making onboarding for new traders “friendlier,” and making users safer by reducing the visibility of tokens that display suspicious trading patterns or ownership structures.

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He has since called for token-launching platforms to provide guardrails to “ensure users are as safe as possible while meeting their demands.”

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The court ruling comes after six Tornado Cash users filed an appeal against OFAC’s sanctions.

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The court rejected this defense, stating that Pertsev and the other co-founders of Tornado Cash could have implemented additional measures to prevent misuse of the protocol.

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During his trial in March 2024, Pertsev argued that he could not be held liable for the actions of users who used the Tornado Cash protocol for illegal activities.

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Despite the victory for Tornado Cash, Pertsev remains in custody on money laundering-related charges.

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In a significant legal development, the US District Court for the Western District of Texas has reversed the OFAC sanctions, according to a Jan. 21 court filing. The court ruled:

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The sanctions led to the arrest of Tornado Cash developer Alexey Pertsev, who was found guilty of money laundering by Dutch judges at the s-Hertogenbosch Court of Appeal on May 14, 2024. Pertsev was sentenced to five years and four months in prison for laundering $1.2 billion in illicit assets through the platform.

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The US Treasury’s Office of Foreign Assets Control (OFAC) originally sanctioned Tornado Cash in August 2022, accusing it of facilitating money laundering by the North Korean Lazarus Group. The group was alleged to have laundered more than $455 million in stolen digital assets through the protocol.

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