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BlockTower Capital Faces Major Hack

BlockTower Capital, a prominent cryptocurrency hedge fund, has reportedly fallen victim to a major hack, raising concerns about the security of digital asset management firms and the safety of investors’ funds.

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BlockTower Capital, a prominent cryptocurrency hedge fund, has reportedly fallen victim to a major hack, raising concerns about the security of digital asset management firms and the safety of investors’ funds.

According to reports, BlockTower Capital discovered unauthorized access to its systems, resulting in the theft of a substantial amount of cryptocurrency assets. The exact amount of funds stolen has not been disclosed, but the hack is believed to have had a significant impact on the firm’s operations and financial stability.

The incident underscores the persistent threat of cyberattacks targeting cryptocurrency companies, including hedge funds and investment firms, which often manage large sums of digital assets on behalf of investors. The theft of funds from BlockTower Capital highlights the importance of robust cybersecurity measures and risk management practices in safeguarding against such threats.

BlockTower Capital, known for its expertise in cryptocurrency trading and investment strategies, is expected to work closely with cybersecurity experts and law enforcement agencies to investigate the hack and recover the stolen funds. The firm is also likely to implement additional security measures to prevent future breaches and reassure investors about the safety of their assets.

The hack of BlockTower Capital comes at a time of heightened regulatory scrutiny and investor concern about the security and integrity of the cryptocurrency market. Incidents like this serve as a reminder of the risks associated with investing in digital assets and the importance of due diligence and vigilance when choosing investment partners.

As the cryptocurrency industry continues to mature, cybersecurity remains a top priority for companies operating in the space. The hack of BlockTower Capital underscores the need for increased awareness and investment in cybersecurity infrastructure to protect against evolving threats and ensure the long-term viability of the digital asset ecosystem.

In response to the hack, BlockTower Capital is expected to provide updates and guidance to its investors as the investigation unfolds and measures are taken to mitigate the impact of the breach. The incident serves as a sobering reminder of the ongoing challenges and risks faced by participants in the cryptocurrency market and underscores the importance of proactive risk management and security practices.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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