Investors Sue Atomic Wallet Over $100M Crypto Hack
A group of dissatisfied cryptocurrency investors has filed a class action lawsuit against Atomic Wallet, which suffered a significant security breach and $100 million in losses in June, stating the firm didn’t share any information about the hack with clients or report it to the police. BNE IntelliNews reported on August 21 that dozens of […]
FBI Identifies 6 Bitcoin Wallets Linked to North Korea Lazarus Group
The Federal Bureau of Investigation (FBI) has identified six Bitcoin wallets associated with Lazarus, a hacking organization supported by the North Korean government. The six wallets contain 1,580 Bitcoin valued at $40 million. In its investigation, the FBI discovered that the Lazarus group transferred approximately 1,580 BTC using multiple cryptographic exploits. These funds are currently […]
Citi Survey Shows CBDCs offer faster Payment Settlements
According to a Citi survey, most securities firms are considering central bank digital currencies (CBDCs) because it might shorten local financial settlement cycles in the next five years. The most recent edition of Citi’s Securities Services Evolution white paper highlighted India’s recent transition to T+1 settlements, which ensures that all trade-related payments are finalized within […]
Studio Releases Proposal for AI, Data Transparency Standards
The Alliance of Motion Picture and Television Producers (AMPTP) published on August 22 the specifics of its proposal for striking actors and writers, which included artificial intelligence (AI) and data transparency standards for the entertainment industry. A generative AI cannot be designated a writer under the proposed conditions. Therefore, no artificial intelligence-generated content can be […]
BIS Report – Crypto Increased Risks in Financial Markets
According to a new study published by the Bank for International Settlements (BIS), cryptocurrencies have failed to reduce financial hazards in less developed economies but have amplified them. The Consultative Group of Directors of Financial Stability (CGDFS) published a new report on cryptocurrencies on August 22 titled “Financial stability risks from crypto assets in emerging […]