Coinbase Stock Falls Following Cyberattack
Coinbase’s stock fell 7% on Thursday after two developments cast doubt on the company’s controls and regulatory challenges.
Coinbase’s stock fell 7% on Thursday after two developments cast doubt on the company’s controls and regulatory challenges.
Late Saturday night, Ledger users noticed a suspicious announcement on the company’s Discord server. Shortly after, Ledger confirmed it had regained control following an account compromise.
A newly discovered Android malware, named Crocodilus, deceives users into revealing their cryptocurrency wallet seed phrase by displaying a warning to back up the key to avoid losing access.
Scams, exploits, and hacks targeting the crypto industry declined in the last months of 2021, with December seeing the lowest amount of funds stolen.
XT.com, a cryptocurrency exchange with a daily trading volume of $3.4 billion, has temporarily halted withdrawals due to a suspected hack resulting in a loss of $1.7 million.
A man has been given a five-year prison sentence for his involvement in stealing and laundering about 120,000 bitcoin, valued at over $11 billion based on current prices, from the cryptocurrency exchange Bitfinex.
The month of October saw various security incidents in the cryptocurrency world, such as exit scams, flash loan attacks, and exploits, resulting in a total of $129.6 million in losses.
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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