The Week in Review: Crypto News and Updates
Vitalik Buterin Adopts Viral Internet Sensation Moo Deng with 88 ETH Donation
Moo Deng, a pygmy hippopotamus that captured the hearts of millions on social media, has found a new adoptive father in Vitalik Buterin. The Ethereum co-founder made headlines when he donated an impressive 10,000,000 THB (approximately $292,000 USD) to Thailand’s Khao Kheow Open Zoo as part of the Wildlife Sponsorship Program.
A Generous Gesture
In response to the announcement, Buterin expressed his willingness to donate even more to support Moo Deng and her family. The donation marks a significant contribution from one of the most influential figures in the cryptocurrency space.
James Howells Continues Legal Battle to Recover Lost $773M BTC
The case of James Howells, an IT engineer from Newport, Wales, has been making waves in the crypto community for years. In 2013, Howells accidentally discarded a hard drive containing private keys to approximately 8,000 Bitcoin (BTC), valued at over $773 million.
A High-Stakes Battle
Despite the significant amount of time that has passed since the incident, Howells remains committed to recovering his lost BTC. With the support of a world-class legal team and advanced artificial intelligence technology trained in UK law, he is determined to see this case through to its conclusion.
South Korea Imposes Sanctions on 15 North Koreans for Crypto Heists
As governments worldwide continue to crack down on cybercrime, South Korea has joined the fray. In a recent move, the country imposed sanctions on 15 North Korean IT organization members and one related group accused of procuring funds for North Korea’s nuclear missile development program through "overseas foreign currency-earning activities."
A Growing Concern
The Lazarus Group, a notorious hacking collective, is believed to be behind some of the most high-profile cyber thefts in Web3. The sanctions demonstrate the increasing recognition of the threat posed by these groups and their potential links to state-sponsored terrorism.
Crypto Hacks Wipe Out $2.3B in 2024, Marking 40% YoY Surge
The crypto hacking landscape has seen a significant uptick in recent years. According to data from Cyvers, hackers stole over $2.3 billion worth of assets across 165 incidents in 2024, representing a 40% increase compared to the previous year.
A Growing Concern for Mainstream Acceptance
The rise in crypto hacking cases raises concerns about the industry’s mainstream acceptance. With increasing valuations and wider adoption, hackers are becoming increasingly brazen, exploiting vulnerabilities in decentralized exchanges (DEXs) and other areas of the Web3 ecosystem.
Solana Staking Pool Jito Exceeds $100M in Monthly Tips
As the Solana network continues to grow in popularity, validators have seen their earnings from priority fees and tips increase significantly. In November and December 2024, Jito’s monthly revenues exceeded $100 million, with a peak of approximately $210 million.
A Sign of the Times
The rising popularity of Solana highlights the growing demand for decentralized finance (DeFi) solutions. As more users join the network, validators are benefiting from increased earnings through prioritizing certain transactions over others, known as Maximum Extractable Value (MEV).
DeFi Market Overview
Looking at the top 100 cryptocurrencies by market capitalization, most ended the week in the green. Notably, the Bitget Token (BGB) saw a significant increase of over 81% due to recent token mergers.
A Bright Spot for Crypto Investors
While the crypto landscape remains uncertain, these developments highlight potential opportunities for investors and users alike. As the DeFi space continues to evolve, we will be keeping a close eye on its progress and sharing insights with you in future articles.
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