Connect with us

Business

FBI asks node operators, exchanges to block transactions tied to Bybit hackers

Published

on

The FBI has urged crypto exchanges, blockchain service providers, and node operators to block transactions linked to addresses associated with the $1.4 billion Bybit hack. The agency identified the attackers as North Korea’s Lazarus Group, also known as TraderTraitor, and warned that they have already started laundering the stolen assets. The group has dispersed funds across thousands of addresses and converted portions into Bitcoin and stablecoins.

A recent FBI public service announcement called on crypto firms, including decentralized finance platforms and blockchain analytics companies, to take action in preventing further laundering of the stolen funds. The agency provided a list of 51 Ethereum addresses associated with the hackers and warned that the stolen assets would likely be funneled through multiple chains before being converted to fiat currency.

According to reports, the hackers have already laundered over 135,000 Ether, with another 363,900 Ether, valued at approximately $825 million, remaining untouched. Blockchain forensic firms revealed that the stolen funds were moved through decentralized exchanges and instant swap services without Know Your Customer (KYC) measures.

Authorities have asked industry participants to closely monitor suspicious transactions and report any relevant information to the FBI’s Internet Crime Complaint Center. The Lazarus Group has a long history of cyberattacks targeting the crypto sector, and this latest case underscores the ongoing security challenges facing digital assets.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk