Timber wood
By Mark Hunter
1 month agoSun Jan 28 2024 07:00:39
Reading Time: 2 minutes
This week in the crypto world we saw the SEC reveal how its X account was hacked, Nexo wanting a king and his castle’s ransom in reparations over a 2023 raid, and Craig Wright forging his way to failure.
What else is new?
SEC Says it Got SIM Swapped
The Securities and Exchange Commission (SEC) this week an update regarding the hacking incident that caused turmoil in the crypto industry just before the expected approval of Bitcoin ETFs. An SEC spokesperson disclosed that the agency had fallen victim to a SIM swap attack, a method in which cybercriminals persuade mobile carriers to transfer phone numbers to a new account, which allegedly allowed the miscreant to pretend that the Bitcoin ETF had been awarded.
The fact that the SEC fell victim to this is all the more galling given that the agency is frequently offering advice to citizens to protect their data and secure their devices while also saying it is out to protect US citizens from scams.
Time to go, Gary, seriously.
Nexo Wants $3 Billion in Damages Over Bulgaria Raid
Cryptocurrency lender Nexo this week filed a claim with a US court for $3 billion in damages against Bulgarian authorities following a January 2023 raid on its Sofia offices. The raid took place on January 13 that year and involved prosecutors, investigators, and foreign agents who targeted an alleged large-scale financial criminal scheme, with a focus on money laundering and violations of international sanctions against Russia.
The raid turned up nothing and Nexo wants reparations, alleging that the reporting damaged its brand and reputation and led it to lose business opportunities, including a potential IPO in the US.
Drama Rachets up in Satoshi Trial
Just when you thought Craig Wright couldn’t forge anything else, he goes and makes you look stupid. Wright’s latest batch of evidence in his case against the Cryptocurrency Open Patent Alliance (COPA) was found by both sides’ forensic experts to be as genuine as a Monet done in tomato ketchup, with some pieces fabricated as late as last month and backdated to 2007.
Just hours after COPA published its report on Wright’s shoddy evidence, Wright made a settlement offer that addressed none of the four claims that COPA was seeking through the court, with the offer clearly aimed at posing Wright as the arbiter of an open patent system, alleging that if COPA rejected it was therefore only interested in one thing: destroying Craig Wright’s reputation.
COPA naturally rejected the offer, leaving Wright with two options: make an offer that actually addresses the things he’s being accused of or face trial. He has less than two weeks to make his mind up.