Crypto Exchange's Outflows Swell on North Korean Trader Concern
The crypto world is abuzz with concerns over Hyperliquid, a leading DeFi derivatives exchange by volume. According to Bloomberg, the platform experienced its largest-ever daily outflow as traders hurriedly withdrew funds due to fears of North Korean hackers trading on the site. Security expert Taylor Monahan from MetaMask revealed that digital wallets linked to these hackers have been active since October, using platforms like Hyperliquid potentially for testing security vulnerabilities.
Ripple Stablecoin RLUSD Launches in Singapore
The Crypto Basic reports an exciting development for Ripple enthusiasts: the launch of their stablecoin RLUSD on Independent Reserve, marking it as the first Singapore-based exchange offering this asset. This move allows users in Singapore access to pair trading and cross-border payments utilizing RLUSD. While retail traders currently drive most transactions involving this stablecoin, Ripple aims to attract institutional clients soon, which could significantly impact XRP's market performance.
Crypto.com Expands US Presence with Institutional Custody Service
Cointelegraph highlights Crypto.com's strategic expansion into the United States through launching an institutional cryptocurrency custody service named Crypto.com Custody Trust Company. This initiative aligns with CEO Kris Marszalek's vision of strengthening their foothold in crucial markets such as the US and Canada while fostering collaboration with regulatory bodies under the administration.
Bitget Ranks Among Top 3 Futures Trading Platforms Globally
A recent report covered by Morningstar reveals Bitget's impressive climb among global futures trading exchanges during November 2024. The Seychelles-based company saw significant growth across various metrics including user engagement and transaction volumes amidst Bitcoin reaching new heights at $106K+. Their efforts towards innovation are evident through initiatives like Blockchain4Her aimed at empowering women entrepreneurs within blockchain technology sectors worldwide.
DMM Bitcoin Suffers Major Hack Linked To North Korea Group
Nikkei Asia uncovers details surrounding a massive cyber theft targeting Tokyo-based DMM Bitcoin Co., where approximately ¥48 billion ($307 million) worth was stolen back in May allegedly orchestrated by notorious hacker group "TraderTraitor." Japanese authorities collaborated closely alongside U.S. agencies FBI & Department Of Defense throughout investigations confirming suspicions regarding involvement stemming from Pyongyang-linked entities operating illicit activities globally via sophisticated hacking techniques employed against vulnerable financial infrastructures.
Sources:
- Crypto Exchange’s Outflows Swell on North Korean Trader Concern
- Ripple Stablecoin RLUSD Launches on First Singapore-Based Crypto Exchange
- Crypto Exchange’s Outflows Swell on North Korean Trader Concern
- Crypto.com launches US institutional custody service
- Bitget Ranks Among Top 3 Crypto Exchanges for Futures Trading in November Report
- North Korea hacker group identified in theft of DMM Bitcoin assets
