US Government Bans Ethereum Mixer Tornado Cash, Platform Added to OFAC’s SDN List

On Monday, the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned the ethereum mixing application Tornado Cash. OFAC has cited that the mixer has helped North Korean hackers such as the hacking syndicate known as Lazarus Group. OFAC Sanctions Tornado Cash Mixing App OFAC has officially banned the Tornado Cash and Tornado Cash Classic websites alongside all of the digital currency addresses allegedly associated with the site. “The following entity has been added to OFAC’s SDN list: Tornado Cash,” OFAC’s Cyber-related Designation report says. The U.S.…

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Debridge Finance Suspects North Korean Hacking Syndicate Lazarus Group Attacked the Protocol’s Team

According to the co-founder of Debridge Finance, Alex Smirnov, the infamous North Korean hacking syndicate Lazarus Group subjected Debridge to an attempted cyberattack. Smirnov has warned Web3 teams that the campaign is likely widespread. Lazarus Group Suspected of Attacking Debridge Finance Team Members With a Malicious Group Email There’s been a great number of attacks against decentralized finance (defi) protocols like cross-chain bridges in 2022. While most of the hackers are unknown, it’s been suspected that the North Korean hacking collective Lazarus Group has been behind a number of defi…

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Axie Infinity Loses $620 Million After Hacker Compromised Ronin Validators

According to Sky Mavis, the creators of the blockchain NFT game Axie Infinity, the Ronin network has been attacked, and a hacker has managed to siphon 173,600 in ethereum and 25.5 million usd coin (USDC). The attacker has obtained roughly $620 million worth of crypto assets, and the Ronin bridge and Katana Dex have been paused. The Largest NFT Blockchain Game Axie Infinity Suffers From a $620 Million Hack The largest non-fungible token (NFT) blockchain game, Axie Infinity, has suffered from an attack on Tuesday after the Ronin network validators…

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A Possible U.S. Government Attack On Bitcoin

[ad_1] The below is a direct excerpt of Marty’s Bent Issue #1170: “This is what a real attack on Bitcoin would look like.” The game of Risk demonstrates major geopolitical potentialities. (Source) Here’s something to pay attention to in the coming days, weeks, and months as the Western world reacts to Russia’s invasion of Ukraine. Will the Western world cut Russia off from SWIFT, the international messaging network used by banks all over the world to settle transactions between each other? If that happens, where will Russia turn? And if…

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OpenSea planned upgrade stalls as phishing attack targets NFT migration

[ad_1] Just yesterday, OpenSea announced a smart contract upgrade, which requires users to migrate their listed NFTs from Ethereum (ETH) blockchain to a new smart contract. As a direct result of the upgrade, users that don’t migrate over from Ethereum risk losing their old, inactive listings — which currently require no gas fees for migration. Major nonfungible token (NFT) marketplace OpenSea has reportedly fallen victim to an ongoing phishing attack within hours after announcing a week-long planned upgrade to delist inactive NFTs on the platform.  However, the urgency and short…

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Bitcoin Attack Ultimate Ponzi Scheme

[ad_1] Bitcoin Attacks The Ultimate Ponzi Scheme Who Is Running The Ultimate Ponzi Scheme, And How Do We Stop It? The Ponzi scheme is a simple concept. “A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money. Instead, they use it to pay those who invested earlier and may keep some for themselves.…

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Solana on-chain development increases after a recent DDoS attack

[ad_1] Solana — whose native crypto, SOL, is the fifth-largest cryptocurrency by market capitalization — is leading on-chain development charts despite a recent distributed denial-of-service (DDoS) attack. As per Santiment data, Solana surpassed the daily GitHub submission rates of Polkadot and Cardano to become the leading blockchain over the past month. The number of daily GitHub submissions for Solana reached 90 between Nov. 12 and Monday, followed by Polkadot at 76 and Cardano at 65. Daily GitHub submissions Bitcoin, Solana, Cardano and Polkadot from Nov. 12–Dec. 13, 2021. Source: Santiment…

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US Senator Introduces Legislation to Repeal Infrastructure Bill’s Attack on Crypto Industry – Regulation Bitcoin News

[ad_1] U.S. Senator Ted Cruz has introduced a bill to repeal the $1 trillion infrastructure package’s crypto provision, which he said is a “devastating attack” on the crypto industry. “I urge my colleagues in the Senate to repeal this harmful language that will create regulatory uncertainty and in turn an unnecessary barrier to innovation,” he said. Senator Cruz Pushes for Infrastructure Bill’s Crypto Provision to Be Repealed U.S. Senator Ted Cruz said Tuesday that he has introduced “legislation to repeal infrastructure bill’s ‘devastating attack’ on emerging cryptocurrency industry.” President Joe…

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A New Academic Paper Describes 3 Attack Methods Against an Ethereum PoS Chain – Bitcoin News

[ad_1] Following the Altair upgrade on the Ethereum network, the protocol’s native cryptocurrency reached a new all-time price high. Altair is the next step for the Ethereum’s network’s proof-of-stake (PoS) transition. However, a recently submitted white paper explains that a group of computer scientists from Stanford University and the Ethereum Foundation believe there are three attack vectors “on [a] proof-of-stake Ethereum” blockchain. The 3 Attacks Against Ethereum Thesis Aims to Describe a Proof-of-Stake Problem Based on Evidence The Ethereum network currently has a proof-of-work (PoW) consensus mechanism and in time,…

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Arbitrage bot’s spam attack on the Polygon network generated $6,800 per day

[ad_1] The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants.  Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project’s QuickSwap DeFi platform was also one of the more successful Uniswap clones. The platform was quite popular initially…

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