Cryptocurrency hacks in the first quarter of 2025, according to data from blockchain security firm PeckShield, exceeded $1.63 billion.

According to the company, compared to figures for Q1 2024, there was a 131 % year-over-year increase in these types of crimes.

Among the company’s main reasons for the significant increase in crypto hacks is the attack suffered by Bybit, which accounted for more than 92 % of the total losses.

The monthly estimate was over $87 million in digital assets in January, $1.53 billion in February, and a decrease in March with the theft of $33 million.

In any case, the increase in cryptocurrency hacking cases is worrying. According to PeckShield, “There were 60 attacks in the first quarter of the year, marking a 131 % year-over-year increase.”

M.Pino

Source: iProup

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La entrada Cryptocurrency hacks to surpass $1.63 billion in Q1 2025 apareció primero en Bitfinance.

An anonymous hacker claimed to have access to private user data on various services, including exchanges such as Coinbase and Binance.

According to one report, this claim appears to be true. The hacker in question has access to an account associated with the “KodexGlobal” platform, which has the power to request user information from companies.

The report details that the hacker is trading access to this account for $5,000. In addition, it offers the possibility to request emergency data from the Service of Interest (EDR) for $300.

With this access, interested parties can get information from people on LinkedIn, Discord, Tinder, SendGrid, and other services. Crypto platforms such as Binance, Coinbase and Chainlink stand out in particular.

Unlike other types of attacks, this modality does not directly compromise the security of the sites and services identified. However, the use of fake or stolen credentials allows access to customers’ private information, making them possible targets for attacks and phishing campaigns.

The KodexGlobal account is used for communications and requests related to regulators and legal agencies.

Those who have control over this account can write to any service and request information about users, citing legal justification. It is believed that access to this session was obtained through a vulnerability in the file transfer software known as MOVEit.

K. Tovar

Source: Diariobitcoin

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La entrada Hacker claimed to have private data of Binance and Coinbase users apareció primero en Bitfinance.

Visa, the global payments giant, is driving the adoption of cryptocurrencies by offering another method to exchange crypto for fiat currencies without the need to use a centralized exchange.

Visa has partnered with Transak, the Web3 infrastructure provider, to launch cryptocurrency withdrawals and payments through the Visa Direct solution, the companies announced on January 30.

The integration, which is now available, allows you to exchange crypto for fiat and pay at 130 million Visa-accepting merchants, directly from a wallet like MetaMask to a Visa debit card.

“By enabling real-time card withdrawals with Visa Direct, Transak provides a faster, simpler and more connected experience for its users, making it easier to convert crypto balances to fiat,” said Yanilsa Gonzalez-Ore, leader of Visa Direct in North America.

The partnership significantly increases the number of options for converting cryptocurrencies into fiat currencies and represents a major breakthrough in the connection between the world of cryptocurrencies and traditional finance, said Harshit Gangwar, Head of Marketing and Investor Relations at Transak.

The partnership enables users in 145 countries to directly convert at least 40 cryptocurrencies to fiat without relying on centralized exchanges. Some of the eligible countries are jurisdictions such as Cyprus, Malta, Singapore, Turkey, Portugal and the United Arab Emirates, according to Transak’s global coverage page.

“This is a big step towards the massive acceptance and use of cryptocurrencies,” Gangwar said, highlighting a more accessible and convenient nature of transactions enabled by integration.

K. Tovar

Source: Cointelegraph

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La entrada Visa offers its crypto-to-fiat exchange service in 145 countries apareció primero en Bitfinance.

Leading cryptocurrency exchange platform Coinbase has taken a significant step by quietly introducing a cryptocurrency lending service aimed at institutional investors in the United States. This move is reportedly aimed at capitalizing on emerging opportunities in the cryptocurrency lending market.

Under the name of Coinbase Prime, the new cryptocurrency lending platform offers an institutional-grade solution for investors in the United States. Coinbase Prime, a full-service brokerage platform, enables institutions to trade and safeguard their assets.

“With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that meets the Regulation D exemption”, the firm said in its statement.

According to documents filed with the United States Securities and Exchange Commission (SEC), since its launch on August 28, Coinbase clients have already invested $57 million in this lending program, attracting five investors as of 1 of September.

This new Coinbase cryptocurrency lending product follows the suspension of issuance of new loans on Coinbase Borrow in May 2023. This program was designed to allow users to borrow up to 1 million using Bitcoin as collateral.

Importantly, this news comes several months after the US SEC accused Coinbase of allegedly offering and selling unregistered securities in connection with its cryptocurrency staking services, which allow users to earn returns by giving away their cryptocurrencies to the platform. Coinbase defended itself by arguing that it did not share the view that its staking services constitute securities.

The dispute led to the suspension of Coinbase’s staking program in four states: California, New Jersey, South Carolina, and Wisconsin, while legal proceedings continued.

This move by Coinbase comes at a time when the cryptocurrency lending industry is still reeling from last year’s crisis, which saw major companies like BlockFi, Celsius, and Genesis Global file for bankruptcy due to illiquidity caused by the bear market of 2022. Observers of the crypto space consider it critical that the cryptocurrency lending industry learns lessons from these crashes and addresses challenges related to short-term assets and liabilities.

K. Tovar

Source: Cointelegraph

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La entrada Coinbase created a lending platform for the US apareció primero en Bitfinance.

In an unexpected twist, Binance Card holders in Latin America were surprised this week with the announcement of the final closure of the cryptocurrency card in collaboration with Mastercard.

Although none of the parties involved has revealed the reasons behind this decision, Binance announced the interruption of the replacement of physical and virtual cards, which will result in the withdrawal of its product from the markets in Argentina, Colombia and Brazil. This measure not only affects Latin America, but also reaches users in Bahrain, in the Middle East region.

Exclusive information from Bloomberg revealed that this move is part of the outcome of the association between Mastercard and Binance for the issuance of cards linked to cryptocurrencies. “The co-branded Mastercard card pilot programs with Binance will be discontinued,” Seth Eisen, the company’s senior vice president of communications, said in a statement to Decrypt.

The expected date for the cessation of operations is September 22, and it is clarified that this will not affect the other cryptographic card programs supported by Mastercard. The cards will cease to be operational as of said date.

Binance is not alone in this scenario, as Visa has also made the decision to distance itself from Binance due to the regulatory issues surrounding the exchange. According to information from Bloomberg, Visa has chosen to stop its association with Binance in the field of cards. Although attempts were made to obtain statements from Visa, the cryptocurrency platform has not received a response.

This news comes at a time of turbulence for Binance, which is under scrutiny from financial regulators around the world. This year, the exchange and its CEO, Changpeng Zhao, have faced two lawsuits filed by US authorities, accusing them of failing to register properly and violating federal securities and derivatives regulations.

The Binance Card program was first launched in 2020 in collaboration with Visa. This card allowed users to transact with cryptocurrencies and earn rewards in the form of cashback. Subsequently, Binance entered into an alliance with Mastercard to launch a similar card program, with the aim of encouraging broader adoption of cryptocurrencies.

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Source: Diariobitcoin

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La entrada Binance begins to move away from card operators apareció primero en Bitfinance.

Binance, one of the world’s leading cryptocurrency exchanges, has marked a major milestone by becoming the first fully authorized exchange in El Salvador. The company has obtained fundamental licenses that give it the ability to provide specialized services in the Central American country.

The Central Reserve Bank of El Salvador granted Binance the license as a Bitcoin Service Provider (BSP). This license represents a fundamental step to operate in compliance with the law in Salvadoran territory and to facilitate services linked to Bitcoin.

In addition to the BSP license, Binance has managed to secure the first non-provisional license as a Digital Asset Service Provider (DASP) from the National Digital Assets Commission. This license further expands the range of services that Binance will be able to offer in El Salvador.

This achievement in El Salvador reflects Binance’s ongoing dedication to obtaining local licenses and approvals in strategic markets around the world. With these approvals, Binance consolidated its presence in 18 international markets, including countries such as France, Italy, Spain, Sweden, and Dubai.

K. Tovar

Source: Criptotendencia

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La entrada Binance obtains license as the first authorized exchange in El Salvador apareció primero en Bitfinance.

The United States Securities and Exchange Commission (SEC) urged the crypto asset exchange platform Coinbase to cease trading any other cryptocurrency besides bitcoin before proceeding in early June to sue the company for operating as an unregistered stock exchange, Coinbase CEO Brian Armstrong has revealed.

“We really had no choice at that point. Removing all non-bitcoin assets, which by the way is not what the law says, would have essentially meant the end of the cryptocurrency industry in the US,” he notes. Armstrong in statements to ‘Financial Times’. “Somehow it made it an easy choice … let’s go to court and find out what they say,” he adds.

For its part, the US CNMV indicated to the newspaper that it did not make formal requests for the platforms to remove crypto assets, noting that, in the course of an investigation, staff can share their own opinion on what conduct may raise doubts for the Commission according to securities laws.

The SEC denounced Coinbase at the beginning of June for operating as an unregistered national stock exchange, broker and clearing agency, in addition to also accusing the entity of not having registered its crypto asset service.

The SEC’s complaint, filed in New York’s Southern District Court a day after the one filed against the Binance platform, alleges that, since at least 2019, Coinbase made billions of dollars by “illegally facilitating” the purchase and sale of crypto assets and accuses the platform of relaxing the traditional services of an exchange, ‘broker’ and clearing agency without having registered any of these functions with the SEC, as required by law.

In this sense, the US markets regulator considers that Coinbase’s lack of registration has deprived investors of significant protections, including inspection by the SEC, record-keeping requirements and safeguards against conflicts of interest, among other.

In its complaint, the SEC also alleges that Coinbase’s holding company, Coinbase Global Inc. (CGI), is a control figure of Coinbase and is therefore also responsible for certain violations committed by Coinbase.

Source: dpa

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La entrada The SEC asked Coinbase not to trade any other cryptocurrency apart from bitcoin apareció primero en Bitfinance.

Binance, the leading platform for buying and selling digital currencies, is experiencing a steady loss of ground against its main competitors, according to data provided by analytics firm Kaiko. This decline coincides with the rise of other exchange houses, such as Huobi, Bybit and OKX’s.

Traditionally, Binance, led by Changpeng Zhao, has overwhelmingly dominated the market and positioned itself as the gold standard in cryptocurrency trading. However, regulators in the United States and other markets have constantly criticized the company, which has seriously affected its business model and, consequently, has impacted its users.

By contrast, its competitors paint a brighter picture, especially in Asia, where some regulations in places like Hong Kong or Japan are leaning toward a more relaxed stance on regulatory measures. This has generated positive momentum for cryptocurrency trading in the region, unlike in the United States.

Binance’s current situation is a stark reminder that the company is losing steam due to regulatory pressure. Both the CFTC (Commodity Futures Trading Commission) and the SEC (Securities and Exchange Commission) have filed lawsuits against the platform for carrying out operations without the necessary licenses within the US territory.

According to Kaiko, data analysis on spot trading shows a noticeable reversal in Binance’s market dominance. By July, its market share fell to 70 % from 90 % at the start of the year. Meanwhile, competitors like OKX’s have seen 11 % growth since January.

Furthermore, other rival platforms such as Huobi and Bybit have also increased their market share by 9 % and 7 % respectively in the same time period. It should be noted that these data refer specifically to the volume of cash or “spot” trade.

Binance’s loss of dominance is partly due to measures implemented by US regulators. Clara Medalie, Kaiko’s director of research, points out that one of the reasons behind this drop is related to the removal of zero-commission options from the platform. Currently, zero fees only apply to trading BTC with the TrueUSD stablecoin.

K. Tovar

Source: Criptotendencia

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La entrada Binance begins to lose ground against the competition apareció primero en Bitfinance.

United States-based cryptocurrency exchange Binance.US has experienced a significant decline in its market share, exceeding 20 %, due to a lawsuit filed by federal financial regulators.

According to a Reuters report on July 5, which is based on data provided by Kaiko, Binance.US’s market share in the United States fell from over 22 % in April to approximately 0.9 % on June 26.

In June, the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance.US, Binance, and its CEO, Changpeng Zhao (CZ), accusing them of operating as an unregistered stock exchange. Furthermore, in March, the Commodity Futures Trading Commission also filed a similar lawsuit against Binance and Zhao.

On the other hand, Coinbase is facing a similar lawsuit from the SEC. However, according to data provided by Reuters, the market share of this cryptocurrency exchange in the United States increased from approximately 48 % to 55 % in June.

This rise may be related to at least three SEC filings designating Coinbase as a watchdog partner in asset managers’ efforts to launch a Bitcoin-backed ETF in the United States.

K. Tovar

Source: Cointelegraph

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La entrada Binance.US market share falls due to regulatory lawsuits in the US apareció primero en Bitfinance.

Coinbase, the leading cryptocurrency platform in the United States, announced its intention to ask a judge to throw out the lawsuit filed by the Securities and Exchange Commission (SEC), alleging that the company has violated the law by failing to register your business.

In a letter filed with federal court in Manhattan just before midnight Wednesday, Coinbase argued that the SEC does not have the authority to bring civil suits because the assets traded on its platform are not “investment contracts” and , therefore, they are not considered values.

The SEC’s lawsuit against Coinbase was filed on June 6 and accuses the platform of making billions of dollars by acting as an intermediary in trading at least 13 crypto assets, or tokens, such as Solana, Cardano, and Polygon, which are supposed to have been registered as securities.

In addition, Coinbase is also facing a lawsuit related to its “staking” program, in which it pools crypto assets to support activity on the blockchain network, and in return provides “rewards” to customers after collecting fees for itself.

The SEC’s filing of this lawsuit against the exchange came a day after the same commission sued Binance, the world’s largest cryptocurrency exchange, accusing it of inflating trading volumes, mismanaging exchange funds, customers and provide false information about their operations.

SEC Chairman, Gary Gensler, has been working to strengthen the body’s jurisdiction over the cryptocurrency sector, which he believes undermines investor confidence in US capital markets.

K. Tovar

Source: Descifrado

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La entrada Coinbase challenges SEC over regulatory lawsuit apareció primero en Bitfinance.