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Biggest year ever for crypto hacking – with North Korea the suspected culprit | Science & Tech News
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2022 was the biggest year ever for cryptocurrency hacking, with more than £3.2bn stolen worldwide, according to new research. October alone saw £629m taken – the most recorded in a single month. It helped the overall year dwarf 2021’s previous high of £2.7bn, although the total number of hacks fell slightly. The annual report by…
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Coinbase cuts 20% of global workforce amid crypto collapse | Business News
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Coinbase, the cryptocurrency exchange platform, is to cut 950 jobs, about 20% of its global workforce. The company has announced the third round of layoffs in a year as part of a restructuring plan. The move follows the sharp downfall in the value of cryptocurrency and has been blamed on that as well as the…
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Gillian Keegan’s Twitter account changes picture to Elon Musk and promotes crypto in apparent hack | Politics News
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The UK education secretary’s Twitter account appears to have been hacked, with its profile picture changed to an image of Elon Musk and several posts promoting a cryptocurrency once backed by the billionaire. While Gillian Keegan’s page still describes her as MP for Chichester and secretary of state for education, and has retained its banner…
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FTX collapse shows crypto is ‘too dangerous’ not to regulate, Bank of England deputy governor says | Business News
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Cryptocurrency trading is “too dangerous” to remain outside mainstream financial regulation and could pose “a systemic problem” without action, the deputy governor of the Bank of England has warned. Speaking for the first time since the founder of the crypto trading platform FTX was arrested and charged with massive fraud, Sir Jon Cunliffe told Sky…
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Disgraced ‘crypto king’ Sam Bankman-Fried released on $250m bail – the largest in pre-trial history | Science & Tech News
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Disgraced cryptocurrency tycoon Sam Bankman-Fried has been released on a $250m (£208m) bond package as he awaits fraud charges – the largest ever pretrial bond in history. The bond was signed by his parents who agreed to keep him under house arrest at their home in Palo Alto, California while he awaits trial. Federal prosecutors…
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Shaquille O’Neal says ‘I don’t understand crypto’ after being named in lawsuit over FTX collapse | Science & Tech News
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The American basketball legend Shaquille O’Neal has defended his appearance in ads for the collapsed cryptocurrency firm FTX, arguing he was “just a paid spokesperson”. The NBA star turned television analyst was named in a class-action lawsuit against the exchange last month, which alleged stars who promoted the platform brought it credibility. It argues that…
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Sam Bankman-Fried: Arrested crypto boss hugs parents as he is denied bail over ‘one of biggest financial frauds in US history’ | Science & Tech News
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Former cryptocurrency exchange boss Sam Bankman-Fried hugged his parents after being denied bail on charges relating to “one of the biggest financial frauds in American history”. The 30-year-old founder of FTX, has been charged by the US Securities and Exchange Commission (SEC) with fraud and violating campaign finance laws. He is also being sued. Following…
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EthereumMax: Judge throws out crypto lawsuit against Kim Kardashian and Floyd Mayweather | US News
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A lawsuit accusing Kim Kardashian and Floyd Mayweather of misleading investors by promoting a cryptocurrency on social media has been dismissed. Investors who bought EthereumMax tokens said they had lost money after believing what the celebrities said about the digital asset. The lawsuit was filed in January, and it claimed that the defendants had conspired…
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Sam Bankman-Fried: This crypto entrepreneur saw his £21bn empire crumble in just three days – what happened at FTX? | Science & Tech News
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Sam Bankman-Fried looked unstoppable. The 30-year-old had built a £21bn business empire and was the CEO of FTX, the world’s second-largest cryptocurrency exchange. More than one million customers worldwide were using his platform to buy assets like Bitcoin – enticed by star-studded adverts that made everything look simple and safe. Image: Naomi Osaka appeared in…
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Founder of bankrupt crypto firm FTX Sam Bankman-Fried breaks his silence, with thousands locked out of savings | Business News
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A crypto entrepreneur says his net worth has fallen from more than $26bn to $100,000 after his company imploded. Sam Bankman-Fried admitted it has been a “bad month” after FTX collapsed into bankruptcy, leaving thousands of people frozen out of their savings. The 30-year-old, who once positioned himself as a saviour for stricken firms, has…