Discover the latest on the FBI's accusations against North Korea's Lazarus Group, and the newest developments in digital currency trials in Hong Kong.
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FBI Blames North Korea for Stake Wallet Hack

FBI Blames North Korea for Stake Wallet Hack

Discover the latest on the FBI's accusations against North Korea's Lazarus Group, and the newest developments in digital currency trials in Hong Kong.

Last update:
Sep 8, 2023
| Issue
#
100

Welcome to the 100th edition of Datawallet Daily. As always, we have scoured the internet to bring you the top 5 stories in crypto over the last 24 hours. Today’s drop will cover the following:

FBI Blames North Korea for Stake Wallet Hack

In a recent revelation, the FBI has pinpointed the notorious North Korean-backed Lazarus Group as the perpetrator behind the significant $41 million hack on Stake.com. The details of how the bureau reached this conclusion remain elusive. 

Alongside the announcement, a list of blockchain addresses associated with the event was released, urging private sector entities to maintain vigilance against transactions linked to these addresses. This massive breach, which occurred on September 4, witnessed hackers manipulating assets across three different blockchains, eventually channeling substantial amounts to the Avalanche blockchain, a move known to potentially conceal and anonymize transactions, making them harder to trace.

In the aftermath of this security breach, Stake's response has been relatively muted, offering reassurance that "user funds are safe" through a lone tweet. Meanwhile, the company's CEO, Ed "Eddie" Craven, light-heartedly suggested a popular Twitch streamer to negotiate the return of the stolen funds directly with North Korea. Despite the FBI's accusation, skepticism lingers, as the methods attributed to the Lazarus Group can also be utilized by other hackers to obscure their identity.

Mirae Asset Securities links up with Polygon Labs

Mirae Asset Securities, a prominent financial company from Korea, is joining forces with Polygon Labs in order to facilitate the expansion of tokenized securities networks. This collaboration comes at a time when numerous institutions are venturing into this field. It has been disclosed that Polygon Labs will serve as a "technical consultant" within the Mirae Asset Security Token Working Group.

ZK-powered DEX Brine Fi raises $16.5 million

Brine Fi, a decentralized exchange (DEX), has successfully secured $16.5 million in funding with a valuation of $100 million. Pantera Capital, a leading investment firm, led the investment round. Other participants included Elevation Capital, StarkWare Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures and Protofund Ventures.

Kraken gradually rolling out PayPal deposits 

According to a source familiar with the matter, Kraken, a cryptocurrency exchange, is gradually introducing support for euro and British pound deposits through PayPal in the United Kingdom and Europe. A recent email sent to Kraken users in the UK, as seen by The Block, confirmed that PayPal can now be utilized to fund user accounts. The email stated that users have the option to transfer up to £1,000 ($1,250) every day using their PayPal balance, bank account or payment cards connected with their PayPal account.

However, it is important to note that currently this funding method is only accessible on the Kraken mobile app after an update was released two days ago. According to information provided on the UK version of the app, PayPal deposits are available almost instantly but come with a fee of 2.4%.

Hong Kong expands trial of China's digital yuan

Hong Kong is currently engaged in testing China's digital yuan, which is the central bank's digital currency being trialed. The government official stated that Hong Kong has progressed into the second phase of technical testing, aiming to integrate a prominent local payment system. 

Christopher Hui, Secretary for Hong Kong's Financial Services and the Treasury, announced at a fintech event today that both the Hong Kong Monetary Authority (the region's de facto central bank) and the People’s Bank of China have successfully concluded initial technical tests for cross-border payments utilizing the digital yuan within Hong Kong.

Other breaking news

  • Multiswap, a multi-asset swap AMM created by CavalRe, is live on Avalanche
  • Wombat launches the Alpha Cross-chain Pool
  • Braavos Wallet launches the Multi Owner Account feature
  • Vitalik Buterin lauds privacy pools
  • Genesis claims that Digital Currency Group owes roughly $500 million in loans

Wrapping up

As we wrap up this centenary issue of Datawallet Daily, we leave you with noteworthy strides in crypto partnerships, investments, and expansions witnessed globally. From the concerning Stake wallet hack to promising collaborations and innovations, the crypto sphere continues to buzz with fervent activity. Stay alert and tuned for more comprehensive updates in the pulsating world of cryptocurrency.