Global Bitcoin ATM Numbers Sink to Lowest Level Since 2021
The number of bitcoin ATMs installed worldwide sank to a two-year low this month, according to data from AltIndex. Since the end of last year, the number installed has dropped 7,000, or 17%, to 32,500, AltIndex said on Wednesday. That follows an increase from 34,500 at end-2021. The U.S., which hosts the largest number of machines, saw the biggest drop. There are now about 26,700 machines in the country. Still, the world's largest economy still has almost 18 times the number installed across the whole of Europe, which hosts some 1,500.
Since the end of last year, the number installed worldwide has dropped 7,000, or 17%. AltIndex attributes the decline to controversies about their potentially criminal use. For example, scammers may advertise goods for sale on sites like eBay, ask buyers to deposit funds into a specific bitcoin wallet through ATM, and then vanish. Brandon Mintz, the CEO and founder of publicly traded bitcoin ATM operator Bitcoin Depot (BTM) said the trend is due to some operators turning off unprofitable ATMs or going out of business altogether. "This creates an opportunity for us that allows us to further increase market share through acquisitions and organic kiosk growth in additional retail locations,” he told CoinDesk in an emailed statement.
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LastPass Hack Victims Lose $4.4M in a Single Day
Hackers siphoned a total of $4.4 million worth of crypto from at least 25 LastPass users on Oct. 25, according to blockchain analyst ZachXBT. LastPass is a platform that stores and encrypts password information for users. Its cloud-based storage service was breached in an attack last year that involved targeting an employee and stealing their credentials. ZachXBT and MetaMask developer Taylor Monahan have tracked at least 80 crypto wallets that have been compromised in relation to the hack.
Funds have been stolen from the Bitcoin, Ethereum, BNB, Arbitrum, Solana and Polygon blockchains, according to a list published by Monahan. "Cannot stress this enough, if you believe you may have ever stored your seed phrase or keys in LastPass migrate your crypto assets immediately," ZachXBT wrote on X, formerly Twitter. Cryptocurrency wallets are often targeted by hackers because a common attack vector is obtaining a private key, which gives the hacker complete access to funds. In July more than $300 million was stolen from crypto users in a string of hacks and exploits. Cybersecurity journalist Brian Krebs reported that more than $35 million worth of crypto had been stolen in relation to the LastPass breach.
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Ripple (XRP) Dominates Ethereum (ETH) in Interest in Almost Every US State
Google Trends data shows that XRP is more popular than Ethereum in 47 US states, with the highest interest coming from Delaware, Nevada, Louisiana, Arizona, and Hawaii. Forecasting the future value of XRP varies greatly among analysts, with estimates ranging from a moderate increase to $0.90 by next summer to an extreme prediction of $500, which would require a market capitalization far exceeding the current total crypto market cap. with Ripple’s partial wins in court contributing to a positive trend.
Ripple’s native token – XRP – seems to be a highly intriguing topic for many Americans. According to Google Trends data, the residents of 47 states have displayed higher interest in the asset than Ethereum (ETH). Delaware, Nevada, Louisiana, Arizona, and Hawaii are the regions where XRP is the most popular. On the other hand, Vermont, New York, Oregon, and the District of Columbia are the only areas where Ethereum has surpassed Ripple’s coin. The outcome of the legal battle, which has been ongoing since December 2020, is expected to be revealed in the spring of 2024 during a grand trial. Multiple analysts and experts have predicted that a decisive win for Ripple could propel a further jump for XRP.
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SafeMoon CEO John Karony’s bail postponed while courts assess level of flight risk
According to court documents dated Nov. 9, a judge has partially granted U.S. prosecutors’ request to counter the bail of John Karony, the CEO of crypto platform SafeMoon. A filing from New York prosecutors indicates that a Utah magistrate judge, Daphne A. Oberg, issued Karony’s release order on Nov. 8. Karony’s bail included a $500,000 bond plus conditions of house arrest and restrictions on financial activities. Prosecutors for the Eastern District of New York said the Utah judge did not consider Karony’s finances and his ability to flee.
Specifically, they said that Karony had millions of dollars of assets that the court was not aware of, including a Utah home currently being sold for $1.5 million, various expensive items, and money in an unnamed company. The Nov. 9 filing states that Karony’s release order will be stayed (paused) until the matter is resolved. That filing is signed by District Judge LaShann DeArcy Hall for the Eastern District of New York, where Karony’s criminal case is proceeding. Prosecutors noted that Karony has “shown a desire to remain abroad” since working on SafeMoon. Specifically, they said that Karony took twelve trips to Europe in just over two years. Most recently, they said, Karony was outside of the U.S. for five months before returning on Oct. 27. He planned to stay in the U.S. for just weeks
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Stars Arena Incident Causing Community Disturbance Confirmed Not A Hack
The clone project on Avalanche Stars Arena is once again facing security concerns following a recent incident that has caused damage to many users’ assets. The project has responded by announcing a key migration to enhance security measures. According to the project, a thorough investigation by its engineering team has found no evidence linking the recent claims of funds draining to an exploit affecting the wider platform.
The project’s response comes amidst growing concerns among users who have reported missing funds. On November 17, 2023, an account named “GiganticTip” shared on-chain data retrieval findings indicating that many users had their assets drained, with AVAX tokens being transferred through the FixedFloat mixer to obscure the hacker’s identity. Despite the project’s assurances and plans to continue development, the Stars Arena incident has further eroded users’ trust. The incident raises questions about the project’s security measures and the potential for further vulnerabilities. The upcoming key migration will be closely watched as the project seeks to regain user confidence and address ongoing security concerns. The attacker later returned the funds, keeping 10% as a bug bounty
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Kraken co-founder says crypto ‘more fair’ after historic Binance settlement
Crypto exchange Kraken is “playing the long game” even as “new threats to the industry's reputation continue to emerge,” its co-founder said today — hot on the heels of the U.S. Department of Justice's historic criminal settlement with Binance and just days after the U.S. Securities and Exchange Commission filed a fresh lawsuit against Kraken itself. In a post on X, Kraken co-founder Jesse Powell said the game “feels a bit more fair today” in reference to the Binance settlement.
“The last 12 months have answered 2 nagging questions from shareholders: 1. How are they going so fast? 2. How are they getting away with it?” Powell wrote. “It's hard to keep faith while your market share dwindles and the only enforcement that's happening is against the good guys.” Powell added that new threats to the industry's reputation continue to emerge. “Each dodgy operation represents an opportunity for governments to scapegoat crypto and tighten the noose.He also brought up Coinbase and Ripple in his post, saying that Kraken and these firms were all the SEC’s “easy targets” sitting right in their backyard.
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Man Fingered in the July 2022 Hack on 2 Decentralized Exchanges Pleads Guilty to Computer Fraud
Shakeeb Ahmed, the man publicly charged with the hack of an unnamed decentralized crypto exchange, recently pleaded guilty to computer fraud and has agreed to forfeit over $12.3 million. Damian Williams, the U.S. Attorney for the Southern District of New York, has said that Ahmed also admitted to being the individual behind the July 2022 hacking of the decentralized finance (defi) protocol Nirvana Finance.
In a statement released on Dec. 14, 2023, Williams said Ahmed, a senior security engineer, has agreed to return the stolen crypto to his victims. Chronicling Ahmed’s July 2-3 attack on the decentralized platform, the U.S. Attorney said the security engineer exploited a vulnerability in one of the platform’s smart contracts. This step enabled Ahmed to insert fake pricing data and this ultimately helped to generate approximately $9 million worth of inflated fees. According to the statement, Ahmed later reached out to the platform and an agreement was reached in which he would return all but $1.5 million worth of digital assets. The agreement was, however, conditioned on the matter not being referred to law enforcement.
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📣 Galaxy Digital Looking to Buy More Crypto Bankruptcy Assets After Deal to Sell FTX's Coins: FT
Galaxy Digital (GLXY), the cryptocurrency financial services firm headed by Mike Novogratz, is looking to buy more assets from bankrupt crypto companies after securing a deal to sell bitcoin and ether owned by crypto exchange FTX on behalf of the estate's management, the Financial Times reported. That deal, from August, tripled Galaxy's assets under management to $5.3 billion, according to the FT.
Galaxy's global head of asset management, Steve Kurz, told the FT it is looking to repeat the experience with other bankrupt companies. That includes firms FTX invested in as a venture capital provider. In December last year, the New York-based company won an auction to buy self-custody platform GK8 from bankrupt crypto lender Celsius Network. "We have a crypto venture team that has been investing off our balance sheet for five years," Kurz said, according to the newspaper. "The record that we have on that side of our asset management business means we'd be a good candidate for something like that.
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💰 Phantom adds support for Bitcoin, Ordinals and BRC-20 tokens
Phantom's march toward adding support for a variety of chains took another step as it announced that users can now trade and transfer bitcoin, Ordinals and BRC-20 tokens. The wallet's new optionality is "currently in beta so it’s 100% opt-in," Phantom said in a post to X. "Without Bitcoin , there’d be no Solana, Ethereum, or web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom," it also said.
Phantom, known for being a Solana wallet, took its first steps toward becoming multichain when it added support for the Ethereum and Polygon blockchains. "We believe that the future of digital asset management lies in cross-chain interoperability," Brandon Millman, co-founder and CEO of Phantom, said at the time. After launching in 2021, Phantom quickly became a popular wallet, and, as of about a year ago, had more than 3 million active users. Ethereum developers are credited with creating the wallet, which has a browser extension for accessing decentralized finance applications. Phantom raised $109 million in Series B financing in early 2022 in a round led by Paradigm
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Ethereum Developers Target January for First Testnet Deployment of Next Big Upgrade, 'Dencun'
Ethereum developers are heating up their testing process for the upcoming Dencun upgrade, a major milestone expected next year that would add capacity for data storage via a new process known as "proto-danksharding.". Developers also discussed a draft timeline for the Dencun testing upgrade, aiming to run through another test network, Sepolia, on Jan. 31, the Holesky testnet on Feb. 7, and then proceeding to deploy the changes on mainnet around the end of February.
In a biweekly call Thursday, the developers discussed that they are targeting Jan. 17 for the Goerli test network (testnet) to run through Dencun, the much-anticipated upgrade that will enable “proto-danksharding,” which reduces fees for layer 2 rollups and scale the blockchain by increasing space for “blobs” of data. “Obviously if we find a major issue or something crazy before then we can always cancel,” Tim Beiko, protocol support lead at the Ethereum Foundation said on the call. “This would mean ideally we’re putting out the blog post for the fork sometime during the week of Jan.uary 8th, so people have at least a week to update.”Dencun was originally targeted for the last quarter of 2023, but the developers pushed it back to 2024, citing the engineering complexities of the upgrade.
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