Crypto Security

Dragonfly Capital faces scrutiny from the DOJ concerning its investment in Tornado Cash but promises a vigorous defense. This highlights the increasing regulatory challenges in the crypto investment landscape. Explore how platforms like Bitlet.app are innovating to provide secure and accessible crypto services amidst such challenges.

BigONE exchange experienced a major security breach losing around $27 million in cryptocurrencies like Bitcoin and Ethereum. The platform commits to covering all losses from its reserves and borrowed funds to ensure liquidity. This highlights the critical need for secure crypto exchanges and innovative purchasing options like those offered by Bitlet.app.

Russia's Sberbank plans to offer custody services for cryptocurrency assets, aligning with the country's softened stance on crypto and aiming to boost digital asset security and development.

BigONE exchange experienced a $27 million hack targeting its hot wallet, affecting assets like Bitcoin and Ethereum. The platform pledges full reimbursement and has paused trading and withdrawals for security enhancements.

Paul Chowles, a former officer with Britain's National Crime Agency, was sentenced to 5.5 years in prison for stealing 50 bitcoin from Thomas White, operator of the Silk Road 2.0 dark web marketplace. The bitcoin, initially worth £60,000 in 2017, has since appreciated to over £4 million. Chowles concealed the theft using a cryptocurrency mixing service and was caught after evidence uncovered his involvement. This case highlights the risks and complexities of cryptocurrency crime investigations.

John Woeltz and William Duplessie pleaded not guilty to charges of kidnapping and attempted extortion involving cryptocurrencies. The case underscores the growing security risks related to crypto assets.