• 19/04/2024 05:51

Hackers stole $9.7 million from Sky Mavis co-founder, Kraken against SEC lawsuit: what's new in the crypto market

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Hackers stole $9.7 million from the co-founder of Sky Mavis, Kraken against the SEC lawsuit: what's new in the crypto market

Hackers stole $9 from the co-founder of Sky Mavis, 7 million

Sky Mavis co-founder Jeffrey Zirlin reported that two personal cryptocurrency wallets were hacked. The attackers managed to withdraw 3,248 ETH worth about $9.7 million.

“The attack is limited to my own accounts and has nothing to do with the validation or operation of the Ronin network. In addition, the key leak has nothing to do with Sky Mavis’ operations,” Zirlin said.

According to PeckShield, hackers withdrew funds from the Ronin Bridge and have already transferred them to the Tornado Cash cryptomixer.

p>Another co-founder of Sky Mavis, Alexander Leonard Larsen, also stated that Ronin had no problems, and that the wallet was compromised in the way that “happens on every blockchain.”

“The city itself has the highest level of security, passed a lot of checks and are paused when too many funds are withdrawn,” he noted.

Reddit disclosed investments in crypto assets in its IPO application

The Reddit platform has filed an application with the US Securities and Exchange Commission (SEC) to conduct an initial public offering (IPO). The papers note that the site has invested in some crypto assets.

In particular, Reddit acquired Bitcoin (BTC) and Ethereum (ETH). In addition, the platform indicated that it owns an additional number of Polygon (MATIC) tokens.

They, like some of the Ethereum (ETH) coins, were received “as payment for the sale of virtual assets.” In addition, Reddit indicated in its filing that it was not ruling out the possibility of further investments.

The net book value of this portfolio, according to the statement, is “immaterial.” However, the platform did not disclose the exact amount.

Rumors about Reddit’s preparation for an IPO appeared in January 2024. As expected, the site plans to enter the stock market in March. Reddit shares will trade on the NYSE under the ticker symbol RDDT.

Kraken demanded dismissal of the SEC lawsuit filed against it

Cryptocurrency exchange Kraken filed a statement with the court demanding that the US Securities and Exchange Commission (SEC) lawsuit filed against it be dismissed. In the documents, the company listed its reasons for dismissing the case.

In November 2024, the SEC accused Kraken of lacking a license and trading in unregistered securities. In addition, representatives of the Commission suspected the company of mixing corporate and client funds.

Kraken's general counsel, Marco Santori, called the SEC's allegations far-fetched and baseless. He noted that the concept of “broker-dealer for investment contracts” mentioned in the lawsuit does not exist in the US legal framework. Like other SEC language, this definition is made up by the agency, Santori said.

Kraken's filing states that the cryptoassets listed in the lawsuit are not securities. According to representatives of the exchange, we are talking about goods.

In addition, the company’s lawyers note “vague” wording and the lack of accusations from the agency of any fraud. All this indicates the termination of the case and the dismissal of the claim, Kraken notes.

“The SEC is not accusing the company of fraud. The agency makes no claims of harm to consumers. The Commission's only claims are that Kraken somehow publicly operated for nearly a decade as an unregistered securities exchange, broker-dealer and clearing agency in violation of the Exchange Act, the petition states.

StarkWare has changed the schedule for unlocking STRK tokens. The coin reacted with growth

StarkWare studio changed the schedule for unlocking STRK tokens for early participants and investors. Thus, in April 2024, 64 million STRK will hit the market instead of 1.3 billion STRK.

“After listening to feedback from friends and colleagues in the ecosystem, we have changed the unlocking schedule to make it more gradual,” says the project team’s statement.

It was previously estimated that 1.3 billion STRK would be unlocked on April 15, 2024—13.1% of the total supply. The decision was criticized due to fears that the asset's price would fall.

According to the new schedule, monthly, starting April 15, 64 million STRK will be brought to the market – 0.64% of the total supply. From March 2025, the share will be increased to 127 million STRK – 1.27% of the total volume.

It is expected that by the end of 2024, 580 million STRK will be unlocked. This is almost four times less compared to the previous chart.

Against the background of the news, the STRK rate increased by more than 6% per day. At the time of writing the news, the asset is trading just above $2, according to CoinMarketCap.

Hackers stole $9.7 million from Sky Mavis co-founder, Kraken against SEC lawsuit: what's new in the crypto market


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