Bitcoin Cash (BCH) is experiencing a surge in trading activity and open interest ahead of its second halving event set for April 4, with open interest in futures perpetual contracts reaching a record high of $708 million, an increase from the previous peak in May 2021. The increase in open interest and trading activity is […]
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North Korea-backed hackers Lazarus Group are increasingly targeting the cryptocurrency community through widespread phishing operations on the popular messaging application Telegram, according to a Dec. 6 update from blockchain security firm SlowMist.
The group’s new modus operandi involves impersonating reputable venture capital investment figures from Archax, HashKey, and Gumi Cryptos to lure crypto teams with enticing investment proposals.
In this attack method, the hacker establishes trust with their victims through constant messages and then lures them into unknowingly running malicious scripts for phishing attacks under the guise of attending a meeting.
This corroborates a recent warning by Alexandre Masmejean, the CEO of Showtime, a crypto marketplace for creators. Earlier in the week, Masmejean said he was contacted by FBI agents who told him that Asian cybercriminals, posing as the Head of HashKey Singapore Group, were running malware on his computer.
SlowMist highlighted how the hacker group leverages Calendly’s “Add Custom Link” feature to embed malicious links within event pages for phishing attempts. These well-disguised links, seamlessly integrated into the background, often evade suspicion.
Meanwhile, the security firm further identified a specific IP, 104.168.137.21, linked to various domains impersonating other projects. They caution vigilance and preemptive measures against potential risks associated with this malicious IP.
Over the past several years, the North Korean Lazarus Group has siphoned approximately $3 billion from the cryptocurrency industry. The Asian country has been accused of sponsoring these hackers to exploit crypto projects to finance its weapons program
The U.S. has traced back several crypto breaches to the North Korea-affiliated hacker-controlled wallets, such as the Ronin bridge exploit, which saw the theft of over $600 million in assets.
The scale of these thefts is substantial, with Chainalysis, a blockchain analytics firm, estimating that over $3 billion has been stolen by North Korean hackers in the past five years. This figure is further corroborated by South Korean intelligence, which reported a theft of $1.2 billion in BTC and ETH by North Korea in 2022 alone.
The cost of a gallon of gas keeps falling despite a tumultuous period for oil prices after Hamas launched an attack on Israel earlier this month.
The national average for regular unleaded fell about 3 cents to $3.60 — from $3.628 on Friday, — according to AAA, a nonprofit federation of motor clubs that tracks fuel costs. The decline comes as oil hovers around $90 per barrel. The price of crude, which is refined into gasoline, makes up more than half the price of a gallon of fuel.
Oil prices rose after Hamas’ surprise attack on Israel 10 days ago, but the spike was far less than the roughly $40 per barrel temporary surge following last year’s invasion of Ukraine by Russia, AAA says. The critical difference is that Russia is a significant oil producer, while Israel and the Palestinian territories are not, it said.
“As long as this war does not spread to include more countries in the region, the effect on the oil market will remain muted,” AAA spokesperson Andrew Gross said in a statement.
At a statewide average of $5.621 a gallon, Californians may not feel much relief at the pump. But prices are lower, down more than 18 cents from a week earlier, from $5.804, AAA says.
Pump prices are dropping in the Golden State, as they are in the rest of the country, because of lower demand from drivers and less expensive blends of winter gasoline coming into the market. California introduced its winter blend earlier than usual this year, and it contains a larger amount of a cheaper ingredient that helps cars start at lower temperatures. Typically, California doesn’t make the switch until the end of October. Winter blend gas can shave 15 to 20 cents off a gallon of gas, said Doug Shupe, AAA spokesperson in California.
California gas is generally more expensive than the rest of the nation due to:
High local taxes. Taxes can make up about 13% of the price of a gallon of gas, according to the U.S, Energy Information Administration
California’s regulation for a special more environmentally friendly blend that tends to be more expensive
Reliance on local production or foreign imports and nearby refineries, some of which were shuttered for maintenance last month. “There aren’t any pipelines around here,” Shupe, said.
Mideast watch: Israeli bombing kills hundreds; first plane carrying US armaments lands in Israel: Updates
Yes, according to experts.
If violence does not spread further in the Middle East and there are no other geopolitical shocks, “I believe the national average still has some 15 to 35 cents of declining to do,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
He said he remains “cautious, that this depends on actions that are not foreseeable, mainly the conflict in the Middle East. For now, the national average is likely to soon fall to its lowest level in six months.”
More than 20% of global liquid petroleum in 2018 moved through the Strait of Hormuz, which is located between Oman and Iran, and connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, according to the U.S. Energy Information Administration.
The five states with the most expensive gallon of gas, on average, as of Monday, according to AAA:
California: $5.621
Washington: $4.902
Nevada: $4.787
Alaska: $4.559
Oregon: $4.538
According to AAA:
Georgia: $3.065
Mississippi: $3.067
Texas: $3.067
South Carolina: $3.108
Alabama: $3.115
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
This article originally appeared on USA TODAY: Why gas prices are going down, even in expensive California
In a battle to recover billions of dollars following the collapse of FTX, Chief Executive and Restructuring Officer John J. Ray III, is intensifying efforts just weeks before FTX founder Sam Bankman-Fried faces trial in what has been labeled one of the largest financial frauds in American history.
Bankruptcy court proceedings kicked off the week as FTX filed a lawsuit against Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried.
The suit aims to reclaim millions of dollars allegedly fraudulently transferred and misappropriated by the couple, who purportedly took advantage of their access and influence within FTX to enrich themselves at the expense of debtors and creditors.
Continuing the pursuit of recovery, FTX Trading Ltd. subsequently filed a lawsuit on Thursday against four former employees of Alameda Ltd., an FTX affiliate based in Hong Kong.
The complaint alleges that these employees received $153 million in transfers shortly before the collapse of the crypto trading platform.
According to Bloomberg, these individuals allegedly leveraged personal connections to prioritize the withdrawal of their funds and digital assets from FTX once it became evident that the company was facing financial turmoil.
Per Bloomberg’s report, the bankruptcy proceedings have attracted the attention of outside investors and speculators, including prominent distressed-debt investors like Silver Point Capital, Diameter Capital Partners, and Attestor Capital.
These entities have seized the opportunity to acquire discounted FTX claims, anticipating that the protracted bankruptcy process will uncover additional valuable assets.
Court records show that they have already purchased over $250 million worth of FTX debts since the beginning of the year, according to a Bloomberg analysis.
While legal actions are in progress, some funds are being voluntarily returned. Stanford University, where Bankman and Fried held teaching positions and enjoyed reputations as legal scholars, announced its decision to return millions of dollars received from FTX and its associated entities.
According to court documents, Stanford received gifts totaling approximately $5.5 million from FTX-related entities between November 2021 and May 2022.
According to a Fortune Magazine report, The Bankman-Fried family has adopted a risky strategy in their legal battle, shifting blame onto prominent law firm Sullivan & Cromwell.
They argue that the firm failed to act in its best interests, downplaying its involvement in FTX’s downfall. This move aims to establish an “advice of counsel” defense, painting Sam Bankman-Fried as a well-meaning individual who received “poor legal advice”.
Criticism of Sullivan & Cromwell’s substantial legal fees, exceeding $100 million in the FTX bankruptcy case, raises ethical concerns but not necessarily legal wrongdoing.
Per the report, the family’s strategy may backfire, as it could provide prosecutors with access to new evidence by waiving attorney-client privilege.
Furthermore, the defense’s focus on blaming the law firm invites scrutiny of Bankman-Fried’s father, an active participant in key business decisions. Additionally, Bankman-Fried’s father received $10 million in FTX funds that he has yet to return, potentially for his son’s legal defense.
The Bankman-Fried family’s attempt to discredit Sullivan & Cromwell introduces complexity to the case. However, its effectiveness remains uncertain. As the legal proceedings continue, the implications of these strategies on the case and public perception of the family remain to be seen.
Featured image from Shutterstock, chart from TradingView.com