First Citizens Bank buys up SVB deposits and loans
According to a statement from the Federal Deposit Insurance Corporation, First Citizens Bank of North Carolina will acquire all of Silicon Valley Bank’s (SVB) deposits and loans in a deal announced on March 26th. In accordance with the purchase and assumption agreement signed on March 26, 17 former Silicon Valley Bank branches will reopen as […]
Binance insiders allegedly help customers bypass KYC controls
A new investigation in China shows that employees of cryptocurrency exchange Binance are allegedly aiding users in circumventing security protocols mainly the Know-Your-Customer (KYC) system. Since the FTX crisis, Binance, the largest cryptocurrency exchange in the world, has made great steps to be an industry leader in terms of openness. Yet, a fresh study suggests […]
Hacked vanity addresses used to steal $500K ARB tokens
In the Arbitrum airdrop hack, an individual reportedly compiled vanity addresses eligible for ARB airdrops, which were then used to steal $500,000 worth of tokens from the layer-2 scaling solution airdrop on March 23. A vanity address is a personalized cryptocurrency address that comprises unique words or phrases chosen by the user to make it […]
US prosecutors charge Do Kwon with fraud
A few hours after his arrest, the CEO of Terraform Labs Do Kwon is now facing fraud charges with the United States authorities in New York. United States authorities in New York have charged Terraform Labs CEO Do Kwon with fraud, only hours after he was purportedly arrested in Montenegro. The 31-year-old entrepreneur has been […]
Chainalysis explains how scammers adapt in bear market
Blockchain analysis firm Chainalysis have explained how some scammers continue to adapt and live despite the bear market, and the fact that scam revenue has decreased by 46% as a result of the crypto winter. Eric Jardine, the cybercrimes research lead at blockchain analysis firm Chainalysis, explained how con artists adapt their techniques in response […]