Recently, a competitive surge has been observed among hackers, scammers, and malicious actors, who are vying to disrupt the cryptocurrency market and inflict severe losses on investors and stakeholders.
Delta Prime a decentralized finance and leading protocol based on Arbirtum has become a victim to bad actors in a hack. In an X post-dated September 16, 2024 Cyvers noted that “our system has detected multiple suspicious transactions involving DeltaPrime Defi on the $ARB chain (Still ongoing).”
“The suspicious address has already swapped $USDC to $ETH, and the total estimated loss is around $4.5M so far! however, a suspicious address still draining the pools! Total loss might increase.”
The cyber attack on Delta Prime was also confirmed by the cofounder of Fuzzland, in an X post he wrote “Delta Prime admin private key leaked. All pools are drained. $7M loss already. Withdraw ASAP!”
However, until publishing the group or the individual behind the theft is not be indeed clear, but as per speculation the heist is backed by the Lazarus Group of North Korea.
On September 11, 2024, Todayq reported that Indodax, an Indonesian cryptocurrency, was drained of millions in digital assets. Further information states that the exchange fell victim to the popular group of unethical hackers based in North Korea.
The incident was observed and reported by Cyvers Alerts, revealing that Indodax had experienced 150 suspicious transactions suspected of being part of a hacking operation, with total losses reaching $18.2 million.
From the beginning of 2024 till writing, the WazirX hack is reported to be the most disrupting event resulting in losses of over $210 million in cryptocurrencies.
After constantly observing the activities of WazirX exploiters’ wallets, it was noted that the bad actors behind the event used crypto mixers to whitewash the details associated with the stolen funds.
Market News Updates
The Chief Executive Officer of Circle wrote in his recent X post that “ the issuer of USDC is planning to relocate its headquarter to New York City. As per the finance experts of NY, the move to shift is appreciated by the ICO by the Circle with the U.S SEC in the first month of 2024.
Tether (USDT), the market’s leading stablecoin, is facing criticism, allegedly due to a lack of audit of reserves. Some analysts claim that the issuer is constantly issuing the coins, but does not have sufficient reserves to maintain the peg, so the firm is not publishing audit reports.
On the other hand, some claim that auditing Tether is quite difficult due to its giant circulation, and argue that it has more reserves than the circulating supply with good fundamentals.
Crypto Market Price Updates
From August 2024 until publishing the broader market hasn’t marked any major milestone; despite this, the market capitalization fell over 15% in a quarter.
When writing the market cap was $2.011 trillion with an intraday outflow of $3.758 billion. At the same time fear and greed index powered by CoinMarketCap was at 36 reflecting a fear sentiment all across the market.
In the past 24 hours, Bitcoin trading price fell over 3.50% reaching below the mark of $60k; with a loss of 1.77% of market capitalization. Despite instability in trading prices since the past few weeks, the market dominance of BTC continues to grow to reach 57.96%.
The dominance grew 1.86% in a week, 4.14% in a quarter, 7.71% in the past six months, and more than 12% YTD.
