In January, the cryptocurrency community was thrown into crisis when a whopping $100 million was stolen from Ripple. However, February has gone smoothly with no major hacks so far.
But brace yourselves, because the past week has been quite a roller coaster for the cryptocurrency market and some interesting developments have been revealed.
$400 million disappearance mystery
In November 2022, FTX, a centralized cryptocurrency exchange, was hacked by an unknown group of hackers who used a sophisticated sim-swapping scheme to steal more than $400 million from the exchange.
The U.S. federal government last week indicted three people on charges of running a years-long phone hacking conspiracy in the infamous theft that led to the collapse of Sam Bankman-Fried’s cryptocurrency exchange, stealing $400 million from FTX. .
The Justice Department’s charges not only resolve the phone hacking conspiracy case, but also answer important questions about the cryptocurrency funds that disappeared amid FTX’s turmoil and bankruptcy filing.
Robbery and Fallout
On November 11, 2022, the three made their boldest move yet: siphoning $400 million from an unidentified company (believed to be FTX). AT&T Mobile Services employees were used to transfer massive amounts of cryptocurrency, shocking the cryptocurrency community.
Road crashes in Solana
Recently, Solana Mainnet-Beta encountered performance issues and block progress was temporarily halted. Swift action was taken as key engineers and verifiers conducted a detailed investigation to resolve the issue.
Additionally, Solana Status tweeted: “Following a successful upgrade to V1.17.20 and a cluster restart by the validator operator, block production on the Solana Mainnet Beta resumed at 14:57 UTC. “Engineers will continue to monitor performance while network operations are restored.”
It also said the outage began at approximately 09:53 UTC and lasted approximately five hours. During the outage, the price of SOL felt some pressure and was trading lower than its previous price.
As we wrap up our crypto journey this week, stay tuned for the following news as we promise to bring more exciting developments in the world of cryptocurrencies.