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    Mysterious 300 BTC Donation to Ross Ulbricht Raises Questions – ZachXBT Investigates

    A 300 Bitcoin (worth over $31 million) donation sent to Ross Ulbricht, the founder of the now-defunct Silk Road, has sparked intense debate within the crypto community. Blockchain investigator ZachXBT analyzed the transaction and dismissed theories that it was a self-transfer, instead pointing to a "questionable" source tied to a flagged Bitcoin address.
    The Suspicious Transaction
    The massive donation landed in Ulbricht’s official FreeRoss.org wallet on Sunday. Blockchain tracking platforms like Lookonchain and Arkham Intelligence traced the funds, revealing they passed through Jambler, a centralized Bitcoin mixer, rather than privacy-focused tools like Wasabi or Samourai Wallet.
    ZachXBT noted that two long-dormant addresses—last active in 2014 and 2019—sent large sums to Jambler between April and May 2025. These funds were later moved to Ulbricht’s donation wallet, raising suspicions about their origin.
    Why Is This Donation Controversial?
    Flagged Addresses: One of the linked wallets (1CNDW) had been previously flagged by compliance tools, suggesting possible illicit ties.
    Centralized Mixer Use: Unlike decentralized privacy solutions, Jambler’s centralized nature makes it easier for authorities to track funds.
    Unusual Timing: The donation arrived shortly after Ulbricht’s personal memorabilia auction, which raised $1.3M in Bitcoin, but the two events appear unrelated.
    Ross Ulbricht’s Newfound Freedom
    Ulbricht was released from prison in January 2025 after serving 12 years of a double life sentence, thanks to a controversial pardon by former President Donald Trump. Since then, he has re-emerged in the public eye, speaking at Bitcoin 2025 in Nashville and auctioning off personal items, including art created during his imprisonment.
    Despite the massive donation’s potential to aid FreeRoss.org—a campaign for sentencing reform and legal advocacy—its murky origins have overshadowed what could have been a celebratory moment.
    Ulbricht’s Emotional Speech in Nashville
    During his appearance at Bitcoin 2025, Ulbricht reflected on his time behind bars, describing prison as an "awful cage" where he struggled to maintain hope. Yet, he emphasized finding "joy even in the darkest moments."
    <foto> (Placeholder for image: Ross Ulbricht speaking at Bitcoin 2025)
    Final Thoughts
    While the 300 BTC donation significantly bolsters Ulbricht’s cause, its questionable path through a centralized mixer and ties to flagged addresses leave more questions than answers. Was this a genuine act of support, or does it hint at something more complex?
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    DNS Hijacking Strikes Again: How Curve Finance Users Were Targeted

    On May 12, 2025, at 20:55 UTC, hackers successfully hijacked the DNS (Domain Name System) of Curve Finance, redirecting users to a malicious website designed to steal their crypto assets. This marked the second attack on Curve’s infrastructure in just one week, raising serious concerns about DeFi security vulnerabilities.
    How the Attack Unfolded
    Attack Method: Hackers compromised the ".fi" domain registrar, altering DNS records to redirect traffic.
    User Impact: Visitors were sent to a fake Curve Finance website that prompted them to sign malicious transactions.
    Key Detail: The smart contracts remained secure—only the front-end interface was affected.
    What is DNS Hijacking?
    The Domain Name System (DNS) acts like the internet’s phonebook, translating human-readable domains (e.g., curve.fi) into machine-readable IP addresses. When attackers hijack DNS:
    ✔ They redirect users to fake sites without their knowledge.
    ✔ They steal login credentials, wallet approvals, and funds.
    ✔ The attack leaves no on-chain traces until it’s too late.
    Common DNS Hijacking Techniques
    Type Description Local DNS Hijack Malware alters DNS settings on a victim’s device. Router Hijack Hackers change DNS settings on a Wi-Fi router. Registrar-Level Hijack Attackers compromise the domain registrar (as in Curve’s case). Man-in-the-Middle (MITM) Intercepts and modifies DNS queries in transit. Curve Finance’s Response
    Immediate Mitigation
    Redirected curve.fi to neutral nameservers, taking the site offline.
    Launched a temporary secure front-end at curve.finance.
    User Protection Measures
    Alerted users via official channels (Twitter, Discord).
    Requested a takedown of the compromised domain.
    Long-Term Security Upgrades
    Evaluating decentralized alternatives (ENS, IPFS).
    Strengthening registrar security (MFA, domain locking).
    <foto> *(Image: Comparison of legitimate vs. fake Curve Finance site)* <foto>
    How Crypto Projects Can Prevent DNS Hijacking
    Adopt Decentralized Web Solutions
    Use Ethereum Name Service (ENS) instead of traditional DNS.
    Host front-ends on IPFS or Arweave for censorship resistance.
    Enhance Registrar Security
    Enable DNSSEC (DNS Security Extensions).
    Require multi-factor authentication (MFA) for domain management.
    Educate Users
    Encourage bookmarking official URLs.
    Warn against unverified transaction prompts.
    Why This Matters for DeFi
    Centralized Weak Points: Even decentralized protocols rely on centralized DNS, creating vulnerabilities.
    Growing Threat: DNS hijacks are increasingly common in crypto (see 2023 Curve attack).
    User Protection Needed: Projects must balance decentralization with security.
     
     
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    Cetus DEX Offers $6M Bounty After $220M Hack as Sui Network Faces Centralization Concerns

    The decentralized exchange Cetus has proposed a $6 million white hat bounty to recover $220 million stolen in a recent exploit, while emergency actions by the Sui Network have sparked debates about true decentralization in blockchain ecosystems.
    The Exploit: What Happened?
    Attack Date: May 22
    Stolen Funds: Over $220M in crypto assets
    Frozen Funds: $162M successfully frozen by Cetus shortly after the breach
    Hacker’s Loot: 20,920 ETH (~$55M) still unrecovered
    The $6M White Hat Offer
    Cetus sent an on-chain message to the exploiter, proposing:
    ✔ Keep $6M (2,324 ETH) as a bounty for returning the stolen funds
    ✔ No legal action if funds are returned promptly
    ✔ Full escalation if assets are moved to mixers or off-ramped
    Sui Network’s Controversial Move
    The rapid freezing of $162M has raised questions:
    Is Sui truly decentralized?
    Who has the authority to freeze funds?
    Does this set a dangerous precedent?
    Critics argue that such control contradicts DeFi’s core principles, while supporters claim it prevented greater losses.
    Crypto Hacks on the Rise
    April 2024: $90M lost in 15 incidents (124% increase from March)
    Common Targets: Bridges, DEXs, and cross-chain protocols


     
    How to Protect Your Assets
    Use audited protocols with strong security histories
    Avoid unauthorized smart contract interactions
    Monitor project announcements for exploit warnings
    The Bigger Picture
    This incident highlights two critical issues:
    The tension between security and decentralization
    The growing sophistication of DeFi exploits
    As Cetus negotiates with the hacker, the crypto community watches closely—will this set a new standard for post-hack recovery?
     
     
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    Fake Ledger Live Apps: How Hackers Are Stealing Crypto Wallets

    Fake Ledger Live Apps: How Hackers Are Stealing Crypto Wallets
    A new wave of malware attacks is targeting macOS users with fake Ledger Live apps designed to steal seed phrases and drain cryptocurrency wallets. Cybersecurity experts warn that these sophisticated scams are becoming increasingly dangerous.
    How the Scam Works
    Malware Installation: Hackers infect devices using tools like Atomic macOS Stealer, which lurks on compromised websites.
    App Replacement: The malware swaps the legitimate Ledger Live app with a fake version.
    Phishing Pop-Up: Victims see a fake security alert prompting them to enter their 24-word recovery phrase.
    Instant Theft: Once entered, the seed phrase is sent to hackers, who immediately access and empty the wallet.
    Key Findings from Moonlock’s Report
    Over 2,800 infected websites have been identified distributing this malware.
    Four active campaigns have been tracked since August 2023.
    Hackers are improving tactics—some now claim to have "anti-Ledger" capabilities, though not all advertised features work yet.
    Dark Web Activity
    Cybercriminals on underground forums are actively promoting malware with:
    ✔ Seed phrase extraction
    ✔ Wallet impersonation
    ✔ Real-time crypto theft
    Moonlock warns:
    How to Protect Yourself
    Only download Ledger Live from .
    Never enter your seed phrase into any pop-up or website—even if it looks legitimate.
    Use a hardware wallet for an extra layer of security.
    Enable two-factor authentication (2FA) where possible.
    Recent Example
    A recent tweet from Moonlock exposed one of these scams in action:
     
    Why This Matters
    Ledger is a top hardware wallet brand, making it a prime target.
    Seed phrases = total wallet access—once stolen, funds are irrecoverable.
    Mac users at risk—many assume macOS is immune to malware, but attacks are rising.
    Final Thoughts
    As crypto theft evolves, staying vigilant is crucial. Always verify app sources and never share recovery phrases. Hackers are refining their methods—don’t become their next victim.
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    Trump’s Crypto Dinner Sparks Legal Debate Over Presidential Seal Usage

    Former President Donald Trump is under fire after using the official presidential seal during a private dinner for investors of his $TRUMP memecoin, potentially violating federal regulations. The event, held at Trump National Golf Club in Virginia, has raised concerns about improper use of government symbols and possible conflicts of interest.
     
     
    Key Details of the Controversy
    Event Overview: Trump spoke to 220 investors behind a podium featuring the presidential seal, despite laws prohibiting its unofficial use.
    Legal Concerns: Federal statutes ban the seal’s use in ways that suggest government endorsement. Violations can lead to fines or imprisonment.
    White House Response: Press Secretary Karoline Leavitt clarified the gathering was not a White House function, distancing official duties from Trump’s private ventures.
    Why This Matters
    Symbolic Misuse: The seal’s appearance at a crypto promotion could imply state approval, misleading attendees.
    Foreign Influence Risks: Reports suggest many investors were foreign nationals, raising questions about undisclosed financial influence.
    Historical Pattern: Trump has previously used presidential imagery at private properties, including custom golf markers.
    Legal Backlash
    Congressional Inquiry: 35 lawmakers have urged the DOJ to investigate potential breaches of:
    Federal bribery laws
    The Emoluments Clause (barring gifts from foreign entities without Congressional consent).
    Bloomberg’s Findings: Many attendees had ties to overseas crypto exchanges, complicating compliance with campaign finance laws.
    Trump’s Crypto Shift
    Once a skeptic, Trump now actively engages with digital assets:
    $TRUMP Memecoin: Peaked at $74.34 before dropping to $14.44 amid the dinner’s scrutiny.
    Notable Attendees:
    Justin Sun (TRON founder, major $TRUMP investor)
    Lamar Odom (ex-NBA star)
    Asian crypto executives (Sangrok Oh, Vincent Liu)
    Ethical & Regulatory Risks
    World Liberty Financial: A Trump-linked firm backed by Sun is already under regulatory review.
    Transparency Gaps: Anonymous foreign investments via crypto could bypass disclosure requirements.
    Visuals & Further Reading
    <foto> (Event photos showing the seal’s prominent display)
    Related Coverage:


    Final Takeaway
    While Trump’s embrace of crypto energizes his base, the blurred lines between personal ventures and presidential symbols risk legal consequences. As regulators scrutinize these overlaps, the incident underscores broader challenges in policing political crypto dealings.
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    🚀 TRON Overtakes Ethereum: A New Leader in Stablecoin Transfers🚀

    In 2025, TRON has quietly but decisively become the dominant force in stablecoin transactions, outpacing Ethereum in both volume and usage. According to recent data from CryptoQuant, TRON now moves an astounding $23 billion in USDT every day—more than double Ethereum’s daily average.
    TRON has emerged as a preferred network for Tether (USDT) due to three simple yet crucial advantages:
        Minimal transaction fees
        Near-instant confirmations
        Global accessibility, especially in developing regions
    These factors have made TRON more than just a blockchain; it has evolved into a global payments backbone, with over 283 million USDT transfers processed so far in 2025 alone.
    USDT Migration: Ethereum Loses Its Crown
    A major shift has occurred in the stablecoin ecosystem. For the first time ever, TRON now hosts the majority of all USDT in circulation—surpassing $75.8 billion in supply, while Ethereum trails behind with a declining share.
    In just the past year, TRON saw a 27% surge in its USDT supply, adding around $16 billion to its total. Ethereum, once the leading stablecoin network, now holds just 49% of the supply, with other blockchains contributing a mere 1.5%.
    This significant realignment shows that users and developers are increasingly choosing TRON for its speed and cost-effectiveness, while Ethereum shifts toward high-value DeFi and institutional use cases.
    TRON's Daily Transfer Volume: A New Benchmark
    Perhaps most striking is the transfer volume. TRON processes over $23.4 billion in daily USDT transactions—more than double Ethereum’s $10.5 billion, which has declined 37% since its peak in late 2024.
    This signals a broader change in how blockchains are used:
    Platform    Daily USDT Transfers    Focus
    TRON    $23.4B    Retail, high-volume payments
    Ethereum    $10.5B (and falling)    DeFi, smart contracts
    Ethereum’s strength in DeFi is undeniable, but for everyday payments, TRON has become the undisputed champion.
    More Than USDT: TRON’s Expanding Ecosystem
    While USDT remains the cornerstone of TRON’s transaction volume, other tokens are gaining traction:
        Wrapped TRX (WTRX): ~2.5 million transfers
        PayNet Coin: ~1.3 million transactions
        USDD: ~427,000 moves
    These figures underscore TRON’s evolution into a comprehensive payment and DeFi ecosystem.
    Unlike Ethereum, which often prioritizes complex smart contracts, TRON is optimizing for speed, simplicity, and scalability—especially for micropayments and cross-border transfers.
    TRON vs. Ethereum: Transaction Gap Widens
    TRON now facilitates around 2.4 million USDT transactions per day, compared to Ethereum’s 284,000. The difference is staggering and reflects TRON’s intentional design as a high-throughput, low-cost network for real-world transactions.
    This transformation isn’t just a technical win—it’s a market strategy, and it’s working.
    Final Thoughts: A New Era in Blockchain Utility
    TRON’s rise isn't accidental. With consistent performance, ultra-low fees, and a laser focus on payments, it has positioned itself as the backbone of retail crypto transactions globally.
    Whether it’s peer-to-peer transfers, remittances, or business payments, TRON is increasingly the network users trust. Ethereum remains a powerful platform for complex applications, but TRON now owns the stablecoin space.
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    📉 Bitcoin Dips After US-China Tariff Truce — Here's What Really Happened📉

    Investors Turn to Stocks as Trade War Tensions Ease
    Bitcoin (BTC) hit a local high of $105,720 on May 12, marking its best price in over three months. However, just as quickly, it tumbled to $102,000, catching traders off guard. The drop came right after the United States and China announced progress on a potential tariff reduction agreement, sparking confusion over why Bitcoin, a traditionally independent asset, responded negatively to seemingly positive news.
    According to Yahoo Finance, the deal involves a 90-day suspension of import tariffs. U.S. Treasury Secretary Scott Bessent added that the truce could be extended if both nations continue constructive negotiations. Discussion points reportedly include "currency manipulation," "steel dumping," and semiconductor export restrictions.
    Risk-On Mood Hurts Bitcoin’s Safe-Haven Appeal
    Over the past month, Bitcoin gained 24%, while S&P 500 futures rose 7% and gold remained flat. With macroeconomic conditions improving, investors are flocking back to stocks, pushing Bitcoin aside as the go-to risk hedge. Currently, Bitcoin’s 30-day correlation with equities sits at 83%, indicating the crypto asset is behaving more like a tech stock than a store of value.
    Another key factor: Bitcoin’s market cap has now exceeded both silver and Google, positioning it as the sixth-largest tradable asset globally — a status that puts more pressure on its market behavior.
    Whale Activity Raises Eyebrows
    From May 5 to May 11, investment firm Strategy acquired an additional 13,390 BTC. Together with BlackRock, Strategy now controls 1.19 million BTC, or roughly 6% of all Bitcoin in circulation. This concentration of holdings has some market watchers concerned that a few major players could be propping up prices.
    Critics like Peter Schiff argue that if Strategy’s average purchase price rises too high, it may be forced to offload some BTC to cover debt obligations. Still, Strategy recently doubled its capital limit, raising $21 billion via stock issuance and another $21 billion in debt, making a near-term selloff unlikely.
    The Bigger Picture: Macroeconomics in Play
    While crypto headlines dominate trader conversations, the real story behind Bitcoin’s dip may lie in the macroeconomic shift. With tariffs easing, stocks are benefiting from higher expected earnings, drawing capital away from assets like Bitcoin and gold. In fact, gold dropped 3.4% on May 12 as investors ditched traditional safe havens.
    The US Dollar Index (DXY) also surged to a 30-day high, historically showing an inverse correlation with gold — and by extension, Bitcoin. Despite a 0.3% GDP dip in Q1 and a 6.1% spike in pending home sales, confidence in the economy remains high, fueling demand for equities.
     

     
    Will Bitcoin Fall Below $100K?
    The outlook isn’t entirely bearish. Between May 1 and May 9, U.S.-based Bitcoin ETFs saw inflows of $2 billion, signaling strong institutional demand. The fact that Bitcoin held most of its 24% monthly gains suggests this rally isn’t retail-driven hype but rather strategic accumulation.
    While some analysts warn of a short-term "technical sell-off" below $100K, the broader trend appears healthy — with investors rotating based on shifting economic expectations rather than fear or doubt.
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    🚨 ZKsync Token Under Attack: Fake SEC Probe Causes Panic and Price Drop🚨

    False Accusations Spark Market Disruption as Hackers Target X Accounts
    In a deliberate attempt to manipulate the crypto market, the official X (formerly Twitter) accounts of ZKsync and its development team at Matter Labs were hacked on May 13. The attackers published false claims that U.S. financial authorities — including the SEC (Securities and Exchange Commission) and the Treasury Department — were investigating the project.
    These misleading messages were posted alongside phishing links, which appeared to promote fake airdrops. The ZKsync community was warned not to click on any links shared during the breach.
     
     
    Motivation: Crash the Token
    The fabricated SEC announcement appeared designed to intentionally tank the value of the ZKsync token (ZK) by creating fear, uncertainty, and doubt (FUD). According to CoinGecko, the token dropped by 2% within the hour of the false message going live, and over 6.4% in 24 hours, currently trading around $0.073.
    Hack Timeline: Not the First Breach
    This isn't ZKsync’s first run-in with attackers. Back on April 15, a hacker accessed the admin credentials of ZKsync’s airdrop contract and exploited a mint function to generate 111 million ZK tokens, valued at nearly $5 million at the time. Interestingly, the perpetrator returned 90% of the tokens, claiming 10% as a “bounty.”
    Official Statement and Recovery
    Lynnette Nolan, Head of Communications at Matter Labs, confirmed to Cointelegraph that the fake posts were quickly removed and both X accounts are now secure and fully under control. She indicated that the breach may have occurred through compromised delegated access, which allows limited third-party posting rights.
    Context: SEC and Crypto Probes
    Although the SEC has investigated crypto firms like Crypto.com, Immutable, OpenSea, and RobinHood Crypto, most of these probes were closed without further action, especially under the previous U.S. administration. Such regulatory actions are typically publicly disclosed by the companies themselves.
    That’s why this attack was so convincing — it mimicked real SEC announcements, making the misinformation seem authentic.
    Conclusion: A Cautionary Tale for Web3
    This incident is a sobering reminder of how critical account security is in the crypto space. Social engineering and phishing attacks continue to grow more sophisticated, and even major platforms are not immune.
    To stay safe:
    Avoid engaging with suspicious links, especially airdrop announcements
    Verify news through multiple trusted channels and official sites
    Use wallet/browser security tools that flag phishing domains
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    Dubai Embraces Cryptocurrency Payments: Partnership with Crypto.com to Modernize Government Transactions

    Dubai is taking a significant step toward becoming a fully digital city by partnering with the global cryptocurrency platform Crypto.com to facilitate crypto-based payments for government services. This initiative aligns with Dubai’s ambitious vision to transform its financial ecosystem and promote a cashless society.
    Strategic Move Toward a Digital Future
    The official agreement was announced during the Dubai Fintech Summit on May 12, marking a pivotal moment in Dubai’s broader strategy to eliminate cash from public transactions. The city aims to have 90% of all financial dealings conducted through cashless methods by 2026, a goal supported by the Dubai Department of Finance (DOF). This move is designed to streamline payments, enhance security, and position Dubai as a leader in financial technology innovation.
     

     
    How Will the Crypto Payments Work?
    Once operational, residents and organizations will be able to settle government fees using cryptocurrencies via Crypto.com’s digital wallets. These payments will be automatically converted into the local currency, dirhams, before being transferred to government accounts. This process simplifies transactions and encourages wider adoption of digital currencies within the public sector.
    Official Statements and Future Outlook
    Amna Mohammed Lootah, head of digital payment systems regulation, emphasized that Dubai’s goal is for digital transactions to dominate both public and private sectors by 2026. She expressed confidence that this partnership will significantly accelerate Dubai’s cashless transformation.
    While the government has not yet specified which cryptocurrencies will be accepted, indications suggest the use of stablecoins—cryptocurrencies tied to stable assets like fiat currencies—to ensure transaction stability and security.
    Emerging Trends in Dubai’s Cryptocurrency Ecosystem
    Recently, Dubai has seen several notable developments in the crypto sphere. Notably, three major Abu Dhabi institutions, including the emirate’s sovereign wealth fund, announced plans to launch a dirham-pegged stablecoin on April 28. This move is expected to further solidify Dubai’s position as a hub for innovative financial solutions.
    A Growing Fintech Ecosystem
    Dubai’s push toward a cashless society was first unveiled in October 2024, revealing that 97% of government payments in 2023 were already digital. The city projects that its digital economy could grow by over 8 billion dirhams (approximately $2.1 billion), driven by the expansion of fintech services and technological advancements.
    Ahmad Ali Meftah, the executive director of the DOF’s central accounts sector, highlighted that ongoing efforts are focused on creating a regulatory environment that promotes innovation while maintaining high standards of security and compliance in digital financial transactions.
    Dubai’s Crypto-Friendly Environment
    Known for its progressive stance on cryptocurrencies, Dubai hosted the Token2049 conference in April 2024, attracting leading blockchain and crypto professionals from around the world. Additionally, the government is exploring blockchain technology for real estate, with a recent pilot project aimed at tokenizing property assets.
    Global Trends and Comparisons
    Dubai’s initiatives mirror similar moves worldwide. For instance, in the United States, a New York lawmaker introduced legislation in April to permit state agencies to accept crypto payments, reflecting a growing acceptance of cryptocurrencies in government operations globally.
    Conclusion
    Dubai’s collaboration with Crypto.com marks a remarkable milestone in the city’s journey toward digital transformation. By integrating cryptocurrencies into everyday government services, Dubai is setting a precedent for other cities seeking to modernize their financial systems and embrace the future of digital finance.
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    Cyberattack Unveils Nearly 60,000 Bitcoin Addresses Tied to LockBit Ransomware Syndicate

    A significant security breach has exposed critical internal data of the notorious LockBit ransomware organization, revealing almost 60,000 Bitcoin addresses linked to its operations. The attack involved hackers infiltrating LockBit’s dark web infrastructure, defacing affiliate control panels, and leaking sensitive information to the public.
    The Details of the Breach
    Discovered on May 7, 2025, this cyber intrusion targeted LockBit’s underground servers, resulting in the defacement of affiliate management portals and the release of a comprehensive database containing internal records. The hackers left a provocative message: “Don’t do crime CRIME IS BAD xoxo from Prague,” along with a downloadable MySQL database file named paneldb_dump.zip.
    Initially brought to public attention by threat actor ReyXBF, cybersecurity specialists quickly analyzed the breach, uncovering a significant amount of data about LockBit’s operational infrastructure.
    According to a report from Bleeping Computer—which is linked in this — the leaked information includes extensive details about LockBit’s ransomware setup. Most notably, it contains nearly 60,000 unique Bitcoin addresses associated with the group.
     
     

    What Do These Addresses Represent?
    These Bitcoin addresses are believed to be linked to ransom payments from victims. Each address typically corresponds to a specific victim, helping LockBit divide and hide the flow of illicit funds. Despite this, LockBit’s operator, known as “LockBitSupp,” has confirmed the breach but claimed that no private keys or additional sensitive data were compromised.
    The leak also includes detailed logs of ransomware builds created by affiliates, which cover technical configurations used in different attacks. Furthermore, over 4,400 chat logs reveal negotiations between LockBit operatives and victims, providing insight into ransom negotiations.
    Credentials and Technical Vulnerabilities
    Among the leaked data are login details for 75 administrators and affiliates, with passwords stored in plaintext, posing a serious security risk. The method used to breach LockBit remains uncertain, but similarities to a recent attack on the Everest ransomware group suggest a common attacker or technique.
    Notably, the server was running PHP 8.1.2, which is known to be vulnerable to CVE-2024-4577, a critical security flaw that could have allowed remote code execution—potentially providing the attacker with full control over the server.
    Impact and Law Enforcement Response
    This breach marks a turning point for LockBit, which has already faced significant setbacks from global law enforcement actions. The 2024 Operation Cronos, led by the U.S. Department of Justice, Europol, and other agencies worldwide, resulted in the disruption of LockBit’s infrastructure, arrest of several members, and the freezing of more than 200 cryptocurrency accounts tied to the group.
    In early 2024, authorities seized key websites and negotiation panels used by LockBit, and recovered over 1,000 decryption keys. These keys are now being distributed to victims to help restore access without paying ransom fees.
    One of the group's leading developers, Rostislav Panev, was apprehended in Israel and is awaiting extradition to the United States. He is accused of creating malware and other tools for LockBit, receiving over $230,000 in cryptocurrency. His defense claims ignorance about the full extent of the group's activities, but law enforcement considers him a central figure.
    The Broader Threat
    Since its inception in 2019, LockBit has targeted over 2,500 victims across 120 countries, extorting more than $120 million worldwide. The leak of such extensive operational data could have severe consequences, potentially allowing authorities and cybercriminals to trace and dismantle parts of the group's infrastructure further.
    The Future Outlook
    This incident underscores the ongoing risks posed by ransomware gangs and the importance of cybersecurity vigilance. It also demonstrates how leaks can serve as both a blow to cybercriminal organizations and valuable intelligence for law enforcement agencies. As more data is analyzed, we can expect continued efforts to track and disrupt these malicious networks.
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    Is TRON Finally Achieving Unmatched Reliability? An In-Depth Look at Its 99.7% Block Production Rate

    The TRON blockchain network has long been recognized for its impressive speed and security features. Recent data from CryptoQuant, published on May 6, highlights a remarkable milestone: TRON's block creation process maintains an astonishing 99.7% efficiency relative to the expected output of 28,800 blocks daily.
    This near-perfect rate underscores TRON’s robust infrastructure, showcasing its capacity to process transactions swiftly and reliably. Such consistency indicates that the network has evolved significantly since the more unpredictable days of 2020–2021, when fluctuations and occasional disruptions in block production were more common.
    What Does This Mean for TRON’s Future?
    The stable and high rate of block generation suggests that TRON has matured into a dependable platform, capable of supporting a wide array of decentralized applications and financial transactions without interruption. The network’s ability to minimize fluctuations reflects ongoing improvements in its architecture and governance.
     
     
    The Role of Super Representatives in TRON’s Success
    A crucial element behind TRON’s impressive throughput is its Super Representative (SR) system. Operating under the delegated proof-of-stake (DPoS) consensus mechanism, SRs are responsible for validating and producing blocks.
    As of 2025, the network maintains a consistent set of 30 active SRs, with 24 of them accounting for approximately 3.71% of total block production. This distribution closely resembles the setup from 2020, when 34 SRs were active, 17 of which produced a similar share of blocks.
    The Dynamic Composition of SRs
    Although the number of SRs has remained relatively stable, their identities have shifted over time. CryptoQuant reports that about 68% of SRs active in 2020 (23 out of 34) are no longer part of the current pool in 2025. During this period, 19 new SRs have been introduced, illustrating a merit-based and competitive system that encourages active participation and decentralization.
    This continuous rotation among SRs emphasizes TRON’s commitment to a transparent and inclusive governance model. Instead of a small, fixed group dominating the network, new stakeholders regularly earn their place through community support and voting, fostering a healthy, democratic environment.
    Why This Matters
    The combination of a high, consistent block production rate and a dynamic, meritocratic SR system positions TRON as a highly secure, efficient, and decentralized blockchain platform. It demonstrates that the network is not only performing well but also evolving into a resilient ecosystem capable of supporting long-term growth.
    Additional Insights and Future Outlook
    As TRON continues to enhance its infrastructure and governance, it sets a new benchmark for operational dependability in the blockchain industry. Its capacity to maintain near-perfect uptime, coupled with a transparent and merit-based leadership model, makes it an attractive choice for developers and investors alike.
    In conclusion, TRON’s recent achievements highlight its potential as a high-performance network that balances scalability, decentralization, and security. With ongoing developments, it is poised to remain a prominent player in the blockchain space for years to come.
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    $330M in Stolen Bitcoin Laundered Through Monero, Fueling XMR Price Surge

    A significant sum of approximately $330.7 million in Bitcoin, believed to be stolen, has been laundered through various instant cryptocurrency exchanges, leading to a sharp increase in the price of Monero (XMR). The incident, brought to public attention by blockchain investigator ZachXBT, began with the transfer of 3,520 Bitcoin from a potentially compromised wallet to an address known for suspicious activity.
    The individuals involved in the laundering process rapidly moved the funds across more than half a dozen exchanges. During this movement, substantial amounts of Bitcoin were converted into Monero, a cryptocurrency specifically designed for privacy and known for its difficult-to-trace transactions.
    The sudden spike in demand for Monero caused its price to surge by 50%, reaching a multi-year high of $329. While the price has since adjusted, the token is currently trading around $267.03, still reflecting a significant gain of 16.3% over the past 24 hours, according to data from CoinGecko.
     
    Data from Coinglass indicates that short positions exceeding $1 million were liquidated during this rapid price increase, adding further upward pressure to Monero's value.
    Monero's price rally also coincided with growing anticipation surrounding its upcoming EP159 and EP160 upgrades. These proposed technical enhancements aim to make Monero more "compliance-friendly" by allowing users to prove the validity of transactions without revealing private details. Analysts speculate that this development could potentially pave the way for Monero's relisting on major exchanges like Binance and Coinbase, particularly in light of Europe's new MiCA regulations which address cryptocurrency markets.
    It's worth noting that other cryptocurrencies focused on privacy, including Zcash (ZEC), Dash (DASH), and Decred (DCR), also experienced notable price increases during this period.
    Despite the enhanced anonymity offered by privacy tokens like Monero, the National Bureau of Investigation in Finland has reportedly made significant headway in tracing XMR transactions as part of their investigation into the criminal trial of Julius Aleksanteri Kivimäki. Kivimäki is accused of hacking a private mental health firm's database and demanding ransom payments in cryptocurrencies.
    Last year, prosecutors presented evidence of a crypto trail that allegedly led to Kivimäki's bank account. The alleged hacker had reportedly demanded 40 Bitcoin, valued at approximately 450,000 euros at the time, as ransom to prevent the exposure of patient records belonging to over 33,000 individuals from the psychotherapy service provider Vastaamo. When the ransom was not paid, Kivimäki is accused of targeting individual patients.
    Finnish police claim that the hacker received payments in Bitcoin, sent the funds to an exchange that did not comply with Know Your Customer (KYC) regulations, converted them into Monero, and subsequently transferred them to a dedicated Monero wallet. The funds were then reportedly sent to Binance, exchanged back into Bitcoin, and moved to various other wallets. Local authorities have maintained confidentiality regarding the specific details of their on-chain analysis methods.
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    Solana Squashes Critical Bug: Privacy Tokens Secured

    The Solana Foundation has successfully patched a significant vulnerability within its privacy-focused token system. This flaw, if exploited, could have potentially allowed malicious actors to generate fraudulent zero-knowledge proofs, leading to unauthorized creation of tokens or illicit withdrawals of funds.
    The vulnerability was brought to light on April 16th through a GitHub advisory published by Anza, a development team focused on Solana. The advisory included a working proof-of-concept demonstrating the potential exploit. Engineers from Anza, along with teams from Firedancer and Jito, quickly verified the issue and began working on a solution, as detailed in a post-mortem released on Saturday.
    At the heart of this security gap was the ZK ElGamal Proof program, responsible for validating the zero-knowledge proofs (ZKPs) used in Solana's Token-22 confidential transfers. These token extensions are designed to enhance transaction privacy by encrypting token balances and utilizing cryptographic proofs to confirm the validity of transfers without revealing sensitive details like amounts or recipient addresses.
    However, a crucial algebraic element was found to be missing from the hashing process used in the Fiat-Shamir transformation. This is a standard technique that converts interactive proofs into non-interactive ones suitable for blockchain verification. This oversight created a potential opening that sophisticated attackers could have exploited to craft fake proofs that the on-chain verifier would mistakenly accept as legitimate. Such a scenario could have enabled the unauthorized minting of tokens or the withdrawal of funds from wallets without proper permission. It's important to note that this vulnerability did not impact standard SPL tokens or the main Token-2022 logic.
     
    Prompt action was taken to address the issue. Private patches were rapidly distributed to validator operators on April 17th. A second patch was subsequently released later the same day to fix a related concern. External security firms including Asymmetric Research, Neodyme, and OtterSec reviewed the fixes to ensure their effectiveness. By April 18th, the majority of validators had successfully implemented the necessary patch. According to Solana's post-mortem analysis, there is currently no evidence to suggest that this flaw was ever exploited, and all user funds are reported to be safe.
    In other positive news for the network, Solana has emerged as a frontrunner in blockchain revenue during the first quarter of 2025, surpassing notable competitors such as Ethereum and BNB Chain. This achievement represents a significant milestone for the high-speed blockchain and is attributed to a surge in user engagement and the continued expansion of its ecosystem. The increase in network revenue was fueled by heightened activity in decentralized applications (dApps), non-fungible token (NFT) transactions, and overall on-chain interactions. Solana's scalable architecture and competitive transaction fees continue to attract both developers and users, making it a preferred platform for applications requiring high throughput. Its growth has been further bolstered by ongoing upgrades, strategic partnerships, and strong momentum in key sectors like decentralized finance (DeFi), gaming, and mobile crypto applications. These developments have solidified Solana's reputation as a high-performance, user-friendly blockchain with a promising outlook for the remainder of 2025.
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    Trump: Crypto is America's Shield Against Chinese Dominance

    Former President Donald Trump has once again voiced strong support for cryptocurrencies, framing their adoption as a crucial strategic move to prevent China from gaining a dominant position in emerging technologies. He views the crypto space as a vital arena for the United States to maintain its technological edge and counter potential Chinese control.
    Speaking on Sunday evening upon returning to the White House from Palm Beach, Florida, Trump stated, "I’m a big fan of crypto because I want to keep it away from China." These remarks come amidst intensified technological competition between the US and China, particularly concerning advancements in areas like artificial intelligence, blockchain, and other innovative fields.
     
    Trump highlighted the relatively recent but rapid growth of the cryptocurrency sector, describing it as "a whole new thing that started, you know not so long ago." He expressed clear concern that China's increasing technological influence could extend into the cryptocurrency realm unless the US actively works to prevent it. He cautioned, "I’m very much in favor of crypto because otherwise China is going to take it over."
    Under his previous administration, in January, a crypto task force was established within the SEC. This task force was specifically aimed at streamlining regulatory processes for the cryptocurrency industry, a move intended to encourage innovation and expansion within the sector.
    Furthermore, Trump appointed David Sacks, formerly the COO of PayPal, to the key position of AI & Crypto Czar. This role was intended to focus on developing a clear and comprehensive regulatory framework for the crypto space, something the industry has consistently advocated for.
    China's increasing interest in cryptocurrency, particularly its development of a state-backed digital yuan, has raised alarms in Washington. Many experts believe that Beijing's growing efforts in digital currency could grant China unprecedented influence over global financial systems. Consequently, Trump's public endorsement of cryptocurrency is seen by some as a symbolic act of resistance against China's expanding ambitions in this critical area.
    Trump's comments also reflect a broader concern about potential Chinese dominance in industries deemed crucial to the global economy. He has frequently criticized China's assertive strategies in fields like artificial intelligence, 5G technology, and now, explicitly, cryptocurrency. His stance suggests a belief that fostering a strong domestic cryptocurrency ecosystem is essential for the United States to remain competitive and secure its economic future.
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    Sam Altman's Worldcoin: Iris Scans, Crypto, and Now in the US!

    Sam Altman's ambitious cryptocurrency project, World, which utilizes iris scanning technology, has officially arrived in the United States. This marks a significant expansion for the controversial but intriguing initiative, which has been operational in select international markets for some time. The US launch, announced on Wednesday, follows a period of addressing regulatory considerations and privacy concerns related to the collection of biometric data.
    World's core concept revolves around creating a unique digital identity for individuals by scanning their irises with specialized devices called "orbs." This process generates a unique "IrisCode," designed to prevent duplicate registrations and verify human identity in the digital realm. The project aims to combat online fraud and bots by providing a secure, verifiable form of identification.
     
    To encourage adoption and participation, World is offering incentives for users who undergo the iris-scanning process. Individuals who scan their eyes at a World orb are eligible to receive 16 Worldcoin (WLD) tokens. Furthermore, those who have already registered with the World app can claim a "pioneer grant" of 150 WLD. The WLD cryptocurrency can be managed, transferred, and traded within the dedicated World wallet app. The app also includes a private chat service allowing users to send WLD or other digital currencies.
    Taking a significant step towards bridging the gap between cryptocurrency and traditional finance, World is collaborating with Visa to introduce a debit card. This innovative card will facilitate the conversion of WLD into fiat currency at the point of sale, making Worldcoin much more practical for everyday transactions.
    The iris-scanning procedure itself is designed to be quick and efficient, taking approximately 30 seconds to scan a user's face and iris and generate their unique IrisCode. This streamlined process helps ensure that each individual can only register once. World orbs are being rolled out at various physical locations across several major US cities, including Austin, Atlanta, Los Angeles, Nashville, Miami, and San Francisco. To enhance accessibility and portability, the company has also developed a smaller version of the orb, the "orb mini," which resembles a smartphone.
    The World wallet app is also undergoing expansion, with plans to incorporate over 150 mini-apps, including one from the prediction market Kalshi. Strategic partnerships with prominent companies such as Stripe, Match Group (the parent company of Tinder), and the gaming platform Razer are set to integrate Worldcoin into a wider range of platforms and services, further increasing its utility and reach.
    Sam Altman co-founded World in 2019, initially under the name Worldcoin, with the ambitious vision of establishing a decentralized global identity system. The core idea was to leverage iris scans and blockchain technology to create a more trustworthy and secure digital ecosystem by providing users with a verifiable identity. As more World orb locations become available across the US, more people will have the opportunity to register and claim their free WLD tokens, potentially expanding the reach of this unique project.
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    IOTA Set to Launch Major Rebased Protocol Upgrade in Two Weeks

    IOTA, the layer-1 blockchain network, is gearing up to implement a significant upgrade known as the Rebased Protocol on May 5, 2025. This upgrade marks a historic shift as the network transitions from the Stardust framework to the innovative IOTA network.
    The development team asserts that the upcoming Rebased Protocol will represent the blockchain's "largest, most intricate, and most crucial upgrade to date." Several key features of the protocol are highlighted, promising immediate benefits upon launch.
    Among the notable enhancements is the Mysticeti consensus protocol, which aims to achieve exceptional scalability and rapid transaction speeds, facilitating a throughput of over 50,000 transactions per second and finality times under 500 milliseconds.
    Another pivotal change is the integration of smart contracts based on the Move programming language directly into the layer-1 network. This advancement will empower developers to create sophisticated, scalable, and secure decentralized applications (dApps). The IOTA network will be the third to implement the Move Virtual Machine (MoveVM), following similar offerings from Sui and Aptos.
    Additionally, the Rebased upgrade will introduce minimal transaction fees through an adaptive fee-burning mechanism. The new IOTA Gas Station feature will enable developers and businesses to cover transaction fees for their users, allowing them to conduct transactions without needing IOTA tokens.
    Furthermore, the network will evolve into a fully decentralized delegated Proof-of-Stake (DPoS) system, starting with 50 permissionless validator slots and expanding to over 150 slots over time. The initial validators for the IOTA Rebased Genesis include a range of organizations such as the IOTA Foundation, IOTA Ecosystem DLT Foundation, and several others.
    This upgrade follows a comprehensive process of governance voting, technical testing, and audits. During a governance vote in December, the IOTA community expressed strong support for the Rebased protocol upgrade proposal, confirming the shift from layer-1 to a Move-based object ledger.
    The migration to the new IOTA Rebased protocol is heralded as a significant milestone in the project’s journey, positioning it for increased adoption and new applications. The upgrade aims to attract institutional investors and even entire countries to its tokenization platforms, trade digitization services, trade finance, and digital identity solutions.
    IOTA also plans to enhance its Web3 ecosystem with advanced applications, including DeFi protocols, on-chain order book exchanges, supply chain solutions, and stablecoins.
    As for market performance, IOTA currently trades at $0.1727, having increased by 1% in the last day and 6% over the week. However, it has seen a decline of 6% over the past month and a significant 29% decrease year-on-year. The cryptocurrency's all-time high stood at $5.25 in December 2017, reflecting a staggering drop of 96.7% since then.
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    Trump Media & Crypto.com Launch $250 Million ‘America-First’ Digital Asset ETF Suite

    On April 22, Trump Media and Technology Group announced a significant partnership with Crypto.com and Yorkville America Digital to create a suite of exchange-traded funds (ETFs) aimed at integrating digital assets with traditional U.S. investment sectors.
    These funds, branded under the Truth.Fi label, will offer investors exposure to both digital currencies and U.S.-focused industries like energy. The availability of these funds will be facilitated through Foris Capital US LLC, the broker-dealer division of Crypto.com, pending necessary regulatory approvals.
    Trump Media Ventures into Financial Products Through ETF Agreement
    This arrangement builds on a preliminary agreement made in March, with Davis Polk & Wardwell LLP providing advisory services for the structuring and launch of the funds.
    The partnership reflects Trump Media's broader strategy to delve into the financial services arena. Devin Nunes, CEO of Trump Media, remarked, “This agreement marks a significant advancement in diversifying TMTG’s offerings into financial services and digital assets. We are pleased to collaborate with esteemed partners, Crypto.com and Yorkville America Digital, and are eager to introduce ETFs for investors interested in both the American economy and the potential growth of digital assets.”
    Kris Marszalek, CEO of Crypto.com, referred to the deal as “a testament” to the company’s ability to bridge the gap between cryptocurrency and traditional financial infrastructure. Troy Rillo, CEO of Yorkville, noted that the funds would embody the firm’s America-first investment strategy.
    Crypto Platforms Embracing Traditional Financial Roles
    The initiative also includes plans for the parallel rollout of separately managed accounts. Trump Media has indicated its intention to invest in these products using internal funds managed by Charles Schwab, with a financial commitment of up to $250 million.
    This effort positions Trump Media to capitalize on the increasing institutional and retail demand for regulated digital investment opportunities. It exemplifies how politically affiliated enterprises are beginning to integrate financial services with digital tools as launching pads.
    By aligning digital assets with an “America First” investment philosophy, this fund suite seeks to resonate with investors’ sentiments, providing thematic exposure that reflects their beliefs. Furthermore, it showcases the evolving role of crypto infrastructure in supporting broader financial goals. With platforms like Crypto.com stepping into distribution roles traditionally occupied by established brokerages, new pathways are being developed that could bypass conventional financial institutions entirely.
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    SEC Ends Prosecution Against Richard Heart, Founder of Hex

    In a notable development, the U.S. Securities and Exchange Commission (SEC) confirmed it will not refile charges against Richard Schueler, commonly known as Richard Heart, the creator of Hex, PulseChain, and PulseX.
    In a letter dispatched to New York District Court Judge Carol Bagley Amon on April 21, SEC attorney Matthew Gulde stated that the agency would not submit an amended complaint after the court previously dismissed the case.
    Judge Amon had dismissed the SEC's initial complaint on February 28, citing a lack of jurisdiction, as Heart’s activities were deemed not sufficiently directed at American investors.
    SEC Chooses Not to Pursue Further Action
    Despite being granted a deadline extension to refile the case by April 21, the SEC opted to abandon the lawsuit entirely.
    Heart took to social media to express his triumph over the decision, proclaiming that he, along with Hex, PulseChain, and PulseX, had “defeated the SEC completely.” He articulated that this outcome provided a measure of regulatory clarity that is rarely seen in the cryptocurrency arena.
    Heart emphasized that, unlike other cases where the SEC has withdrawn voluntarily, his situation was distinctive as it showcased a definitive win for the cryptocurrency community, with all claims against him dismissed in court.
    He framed this victory as a triumph for open-source software and cryptocurrency innovation, highlighting concerns that the SEC controversially targeted software code in its lawsuit.
    The SEC initially lodged complaints against Heart in July 2023, accusing him of engaging in unregistered securities offerings through HEX, PulseChain (PLS), and PulseX (PSLX). According to the regulator, Heart had amassed over $1 billion by marketing these tokens as a path to extraordinary wealth.
    In April 2024, Heart responded by disputing the SEC’s jurisdiction, arguing that his residency outside the U.S. placed him beyond the regulatory scope. The SEC countered this by pointing to his promotional endeavors within the U.S., including a particular event held in Las Vegas.
    Adding to Heart’s legal challenges, Interpol issued a Red Notice in December 2024, seeking his arrest in Finland due to allegations of tax evasion.
    U.S. Court Dismisses SEC’s Case
    Recently, a U.S. district court dismissed the SEC’s lawsuit against Heart, ruling that the agency did not possess jurisdiction over his purported activities. The judge remarked that the supposed misconduct took place through digital wallets and cryptocurrency platforms, which showed no clear connections to the United States.
    The SEC had categorized Hex (HEX), PulseChain (PLS), and PulseX (PLSX) as unregistered securities in its complaint.
    Despite this recent legal success, HEX has faced difficulties in the market, having declined 76% from its December 2024 peak of $0.031, influenced by a general downturn in altcoin performance amid Bitcoin's dominance.
    Furthermore, Finnish authorities recently seized approximately $2.6 million worth of luxury watches that Heart allegedly left behind. He is wanted in Finland for purported tax evasion and assault charges, and authorities have been struggling to determine his current location.
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    Close Call: Hacker Attempts to Breach XRP Ledger Security

    A significant threat to the XRP Ledger was recently thwarted when a hacker attempted to exploit a developer’s access token, potentially leading to extensive security issues within the crypto ecosystem.
    The vulnerability was unveiled by Charlie Eriksen, a researcher at Aikido Security. This flaw could have given rise to a widespread supply chain attack spanning the cryptocurrency landscape.
    Exploitation of Developer Access
    According to Aikido Security, the perpetrator accessed a developer’s Node Package Manager (NPM) token, subsequently publishing compromised versions of xrpl.js, the official JavaScript library essential for interacting with the XRP Ledger.
    With more than 140,000 downloads weekly, this library is integrated into hundreds of thousands of applications and websites, heightening concerns about the possible scope of the security breach.
    “This could have been catastrophic,” Eriksen cautioned in a security update, stating that the vulnerability theoretically enabled attackers to steal private keys, jeopardizing crypto wallets and user funds.
    The malicious code was discovered on April 21, when Aikido’s monitoring system flagged five suspicious package versions.
     
     
    Fortunately, major platforms associated with XRP, including Xaman Wallet and XRPScan, confirmed they were not impacted by the attack.
    The threat was confined to third-party applications that might have installed compromised versions—specifically v4.2.1 through v4.2.4 and v2.14.2—during a brief period before the issue was resolved.
    In response, the XRP Ledger Foundation acted promptly, deprecating the affected versions and issuing a patched update, v4.2.5. They urged all developers utilizing xrpl.js to upgrade immediately.
    The foundation reassured users that the core XRP Ledger codebase and its GitHub repository remained secure since the vulnerability was limited to the external JavaScript library.
    While the identity of the hacker is still unknown, Aikido Security has indicated they are investigating potential leads.
     
     
     
    Market Resilience Despite Challenges
    In the face of these security concerns, XRP prices displayed remarkable resilience, climbing by 8.5% in the last 24 hours amid a broader rally across the cryptocurrency market.
    A New Chapter in Ripple Labs’ Legal Battle
    In a related development, the long-standing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has concluded, representing a pivotal moment in cryptocurrency regulation.
    Back in December 2020, the SEC initiated a lawsuit against Ripple Labs, asserting that the company had engaged in an unregistered securities offering by selling XRP tokens, which allegedly raised over $1.3 billion.
    Ripple strongly disputed these allegations, maintaining that XRP is a digital currency rather than a security.
    In July 2023, U.S. District Judge Analisa Torres issued a mixed ruling: while she concluded that sales of XRP to institutional investors violated securities laws, she found that sales made on public exchanges did not.
    As a result, Ripple was fined $125 million.
    In March 2025, Ripple and the SEC reached a settlement agreement. Under the terms of this settlement, Ripple will pay $50 million of the imposed fine, with the remaining $75 million refunded to the company. Both parties also agreed to withdraw their respective appeals, effectively concluding the litigation.
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    Rising Threat: The ‘Drainer-as-a-Service’ Model in Crypto Hacking

    Cybercriminals have recently advanced their tactics by offering "drainer-as-a-service" (DaaS), enabling the rental of crypto-stealing malware for as little as $100. This shift marks a significant change in how digital theft is conducted, making it increasingly accessible to those with only basic knowledge of cybercrime techniques.
    According to a report released by the crypto forensics company AMLBot on April 22, the landscape for crypto hackers has transformed dramatically. Slava Demchuk, the CEO of AMLBot, elaborated that the skills once necessary for conducting such operations are now within reach for anyone familiar with fundamental cyber principles.
    Online Communities Transforming Novices into Hackers
    Online forums serve as breeding grounds for aspiring scammers, where seasoned criminals share their expertise. Novices in phishing can easily transition into crypto drainers, thanks to various tutorials available within these communities.
    Some DaaS collectives exhibit such confidence in their activities that they openly advertise their services, even establishing booths at industry conferences. Demchuk pointed to examples like CryptoGrab, highlighting that in specific regions, particularly Russia, such activities face minimal legal repercussions. Hacking incidents that do not target local or post-Soviet victims often go unpunished.
    The cybersecurity community has long recognized the protective measures in place in these areas. Previous reports have indicated that many types of malware, such as ransomware and information stealers like Typhon Reborn v2, are designed to shut down if they identify system settings from Russia or nearby territories.
    The Growth of DaaS and Phishing Networks
    DaaS operations flourish within phishing networks, which are widespread across clearnet forums, darknet platforms, and even Telegram groups. Developers are often scouted through job advertisements in semi-open Telegram channels, specifically looking for Russian-speaking programmers who can write scripts to drain Web3 wallets.
    Investigation by AMLBot revealed job postings for malware aimed at platforms like Hedera (HBAR), underscoring an active hunt for technical talent in specialized online communities.
    The influx of drainers has caused considerable financial damages—according to Scam Sniffer, an astonishing $494 million was reported stolen through these schemes in 2024, reflecting a 67% rise from the previous year.
     
    Cybersecurity firm Kaspersky also documented a notable increase in darknet forums focused on drainer tools, jumping from 55 in 2022 to 129 in 2024.
    While Telegram was once viewed as a safe space for cybercriminals, its recent information-sharing initiatives with law enforcement have raised concerns. As a result, many offenders have transitioned back to the Tor network, where maintaining anonymity is considerably easier.
    Financial Losses from Crypto Hacks in Q1
    In the first quarter of 2025, the crypto industry suffered a staggering loss of $1,635,933,800 across 39 hacking incidents, according to the blockchain security platform Immunefi. This quarter is noted as the most damaging in the history of the crypto sector regarding hacking.
    Most losses were attributed to two major hacks at centralized exchanges. Phemex faced a deficit of $69.1 million in January, while Bybit incurred an enormous loss of $1.46 billion in February. The total losses during this period marked a 4.7-fold increase compared to Q1 2024, where hackers stole $348,251,217.
    Experts suspect that the notorious North Korean Lazarus Group is responsible for the two largest attacks, having stolen a staggering $1.52 billion, which accounts for 94% of the total losses during this quarter.
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