The sanction of cryptocurrency mixer Tornado Cash in August caused the first major shift, but that is now accelerating even faster than projected. Cybercriminals have accelerated their shift away from crypto mixers for cross-chain bridges over the past year, according to blockchain forensics firm Elliptic. In June and July, nearly all of the crypto stolen…

The corporate world is filled with the carcasses of companies (and cryptos) who found out too late that the Lindy effect could not save them. If you ask people if they think that companies that have been around for many decades (even more than a hundred years) versus a startup would have a better chance…

CoinEx confirms that compromised private keys gave hackers access to hot wallets, leading to a $70 million hack. Hong Kong-based cryptocurrency exchange CoinEx has revealed that compromised private keys allowed hackers to steal over $70 million of tokens as the team looks to open lines of communication to claw back funds. CoinEx representatives unpacked the…

According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using digital currency was estimated to be worth $4 billion last year. South Korean regulators have turned their focus to over-the-counter (OTC) crypto trades amid growing concerns about their use for criminal activities. The financial regulators in the country are…

The Web3 startup came out of stealth mode after a seed funding round led by a16z crypto, enabling firms to integrate web3 infrastructure into their existing enterprise technologies. Two former executives from Andreessen Horowitz (a16z)’s crypto division have managed to raise $25 million in seed funding for their newly launched Web3 startup Bastion — despite…

By inheriting Ethereum’s security, Canto will be more decentralized and will enable trustless guarantees when bridging assets over, Polygon Labs said. Cosmos-native layer-1 blockchain Canto has become the latest chain to migrate to Ethereum as a layer 2 zero-knowledge rollup after another layer-1 blockchain, Astar, announced similar plans to move from the Polkadot ecosystem to…