With the new week starting, the crypto industry is already filled with developing stories that will keep the community busy throughout the week. Many things have happened, with the news of the staking crackdown in the US taking the major highlight among other crypto stories. As usual, we want to help you stay ahead with every trending move in the crypto market through our comprehensive guides and reviews.
Also, hackers have started carrying out the exploits just as the year started as a wormhole gabber moves more than $46 million of stolen funds.
There are other developing crypto stories, such as Ethereum co-founder Vitalik Buterin supporting those affected by the Turkey/Syria earthquake with a huge donation.
Continue reading as we bring you the latest rumors and stories about crypto personalities, companies, and the whole crypto industry.
DeFi in Trouble After US Crypto Staking Crackdown
The decentralized finance part of the cryptocurrency is currently facing uncertainty and negative repercussions after the US staking crackdown. A popular crypto analyst named Nicholas Merten has even predicted a bear market due to the effects of the US staking crackdown. Bitcoin price USD is expected to go down in reversal.
Even the head of business development at Lido DAO has spoken about the recent development, saying that the crackdown might bring unexpected consequences to decentralized finance. The staking feature is one of the major reasons investors put funds into Ethereum and other DeFi assets. Cutting short the staking feature by the US regulators could lead to trading apathy.
However, to some, new lawsuits against crypto firms and cryptocurrencies from SEC and its sister regulators are expected. Many government officials have been calling for intensive regulation of the crypto industry for a long time.
Metamask Users Attacked by Hackers
Metamask has issued scam alerts to their users after a hacked third-party service from Namecheap sent emails that targeted Metamask users. According to Metamask, the messages sent to its users are an ongoing phishing attempt to trick users into providing their secret wallet keys.
Upon detecting the phishing attempts by the hackers, Metamask sent a warning to the users on social media platforms, telling them they won't ask them for their wallet secret keys. They shared a post on Twitter, showing their users what the phishing attempt looked like.
They also warned their users that outside their official software, they wouldn't ask their users for their secret wallet keys over an email.
Ethereum Co-Founder Helps Turkey/Syria Earthquake Victims
The Ethereum co-founder Vitalik Buterin helped those affected by the earthquake in Turkey and Syria last week. The earthquake was terrible, with more than 30 thousand people dying from the disaster. More people are still yet to be found under the earthquake's rubble.
Since the occurrence, many personalities have donated to help the earthquake victims. Vitalik Buterin, who has been involved in other philanthropic actions, has donated more than $225 thousand worth of Ethereum to those affected by the earthquake.
He donated this amount at different times and with different relief funds. According to blockchain security firm PeckShield, Anka Relief was one of the relief funds that received Buterin donations to help those affected by the earthquake.
Before donating to Anka Relief, vital.eth address sent around $150,000 worth of ETH to Ahbap. Ahbap is another nongovernmental organization dedicated to providing relief for those affected by the disastrous earthquake.
OneKey Fixes a Security Flaw in their Wallet
OneKey faced a massive backlash after users discovered that one of their hardware wallets could be hacked within one second. Unciphered posted a YouTube video showing a “Massive critical vulnerability” in the OneKey Mini. This raised a huge controversy as users were very concerned about the security of their funds.
However, OneKey has announced that they have fixed the problem and are working overtime to ensure that such a thing does not happen again. OneKey also said that although they acknowledge the vulnerability discovered by Unciphered, a hacker won't still have the chance to hack the device remotely.
Wormhole Hacker Makes Away with Over $40 million
The Wormhole hack was one of the biggest hacks in the crypto industry in 2022, and it seems like the hacker is moving the funds further away from the hands of the owners.
About $321 million of Wrapped ETH (wETH) was stolen from the Wormhole hack in February 2022. According to blockchain security firm PeckShield, the hacker’s associated wallet has removed about $46 million from all the funds stolen from the hack.