Cryptospace Spotlight #50 (11 Dec 2022) - Attacks are targeting at crypto startups
Attacks heated up on crypto startups with phishing attempts, BTC hashrate drops, Ethereum developers released timeframe to allow staked ether withdrawal, Starbucks launched web3 loyalty program!
Security and Risk
7 Dec - Attack targeting crypto startups
Tech giant Microsoft uncovered an attack targeting crypto startups using a pdf file that uses the names OKX, Binance, and Huobi. [more]
The pdf file is titled “OKX, Binance & Huobi VIP fee comparison.xls.” and includes a malicious code that allows the attackers to access the victim’s software remotely, and run an excel macro in invisible mode on the background
It was suspected to be the working of Lazarus. [more]
Other Crypto Picks
United Kingdom - The Treasury is finalising plans for a package to regulate the cryptocurrency industry, including limits on foreign companies selling into the country and restrictions on advertising. [more]
United States -
United States banking industry regulator, the Office of the Comptroller of the Currency (OCC), warned banks of the “emerging risks” of cryptocurrencies saying the sector should take a “cautious approach” and when engaging with crypto or crypto firms. [more]
Three Democratic lawmakers introduced bill that would prompt U.S environmental agencies to assess greenhouse gas emissions of crypto miners and report findings to Congress. [more]
G20 - India is looking to the International Monetary Fund (IMF) to lead consultations around the question of how to regulate crypto assets during its G-20 presidency. [more]
Bitcoin - BTC difficulty drops by the biggest margin since 2021. [more]
Ethereum - Ethereum developers noted that the network’s next hard fork, called “Shanghai,” will have a target release time frame of March 2023. This upgrade will include code known as EIP 4895 that will allow Beacon Chain staked ether (ETH) withdrawals. [more]
Starbucks launches web3-based loyalty program and NFTs, Starbucks Odyssey. The program aims to make NFTs accessible to a wider customer base, as Odyssey participants can purchase Stamps directly with a credit card through Starbucks Odyssey market, with no requirement for a crypto wallet or cryptocurrency. Early next year, members will be able to purchase unique, one-of-a-kind ‘Limited-Edition Stamps’ (NFTs) through the market. [more]
Crypto exchanges - Bybit and Swyftx downsize while Amber Group is reportedly set to lay off a few hundred staffers. [more]
FTX related
Sam Bankman-Fried missed the deadline set by a US Senate committee for a response to a request to testify at a Dec. 14 hearing about cryptocurrency exchange FTX’s collapse into bankruptcy. Bankman-Fried’s counsel didn’t reply in the stated time-frame, the Senate Committee on Banking, Housing, and Urban Affairs said in a statement. [more]
Crypto media site The Block was secretly funded over the last two years by Sam Bankman-Fried’s Alameda Research. The Block’s CEO, Michael McCaffrey, immediately resigned after the loans came to light, and will also step down from The Block's board. [more]
Institutional crypto trading platform FalconX disclosed that 18% of its "unencumbered cash equivalents" remain locked on FTX. [more][more-falconx][more-gicinvest]