North Korean Hackers Exploit LinkedIn to Steal $16 Million from Crypto Exchange
A recent investigation has revealed that North Korean hackers, known as the Lazarus Group, successfully stole $16 million from Bahrain-based cryptocurrency exchange Rain.com. According to Forbes, the group used social engineering tactics on LinkedIn by posing as recruiters and tricking a Rain employee into downloading malware disguised as a coding challenge. This allowed them access to private keys and passwords necessary for transferring funds out of crypto wallets.
The FBI managed to trace some of these stolen assets, freezing approximately $760,000 in virtual currency at WhiteBIT, an exchange located in Vilnius, Lithuania. The Justice Department's seizure warrant highlights how this method is part of broader efforts by Lazarus since 2017 to fund North Korea’s nuclear program through illicitly obtained cryptocurrencies.
Crypto Trading Volume Surges Post-Election
November saw unprecedented trading volumes across centralized cryptocurrency exchanges (CEXs), surpassing $10 trillion according to Cointelegraph. CCData reported that both spot and derivatives markets experienced significant increases due largely to market optimism following Donald Trump’s presidential election victory earlier in the month.
This surge was particularly notable among several platforms like Upbit and Bybit which recorded all-time high monthly trades. Analysts suggest this trend reflects investor anticipation of favorable regulatory changes under Trump's administration aimed at bolstering digital asset growth within the United States.
Bitcoin Reaches Historic Milestone Amid Political Optimism
Bitcoin recently crossed the psychological threshold of $100,000 per coin—a milestone signaling its transition towards being recognized as a mainstream financial asset—reports Barron's. Jonathon Miller from Kraken noted that post-election enthusiasm contributed significantly alongside positive macroeconomic forecasts extending through 2025 supporting further adoption prospects globally.
The rally underscores pent-up demand previously hindered by uncertainty surrounding U.S policies regarding cryptocurrencies but now buoyed amid expectations for more supportive frameworks moving forward under new leadership dynamics shaping future developments positively impacting overall sentiment around blockchain technologies worldwide!
Euphoria Drives Bitcoin Beyond New Heights Following Election Results
An article published by Reuters describes how bets placed on potential pro-business initiatives anticipated during President-elect Donald Trump's tenure have fueled excitement driving bitcoin prices above historic levels reaching over the six-figure mark. With key appointments such as Paul Atkins heading SEC seen favorably among industry insiders eager to see reforms enacted swiftly, promoting innovation whilst ensuring compliance standards are maintained effectively. Balancing interests of stakeholders involved alike throughout the process unfolding rapidly before us today, indeed remarkable times ahead surely await those willing to embrace change wholeheartedly without hesitation either way, ultimately benefiting everyone concerned equally well hopefully soon enough. Eventually, perhaps sooner rather than later, ideally speaking of course naturally.
Sources:
- How North Korean Hackers Pilfered $16 Million From A Crypto Exchange Via LinkedIn
- Crypto exchange volume hits record high: CCData
- Bitcoin's $100,000 Milestone Signals Shift to Recognized Asset
- Bitcoin storms above $100,000 as bets on Trump fuel crypto euphoria
- South Korean Crypto Exchanges Hit Record $34 Billion Volume
- Bybit CEO says Chinese can trade crypto though VPN, but not with yuan
