The month of September brought some bull exercise to many crypto enthusiasts when talking about an unexpeted bounce back of our alpha currency bitcoin with some few others who joined in the surge. As it brought opportunity, so also was there loss. The loss basically is not attributed to market activities but external bodies. As the hacks and attacks continue to surge, last month wasn’t particularly the stylish month for the cryptocurrency assiduity, when citing the security sector. It is not surprising that Exploits attacks are the pace setters with over 90 percent of this cybercrime activities allotted to it.
An exploit loss of almost $70 million in crypto was suffered by crypto exchange CoinEx Global. Data sourced from several blockchain security establishments claims an estimated $ 335 million in crypto means were stolen via exit swindles, flash attacks and exploits only in september. It must also be recalled that Mixin Network suffered an estimated $ 200 million offload from the Defi (decentralized finance) protocol.
HTX $8 Million Crypto Hack Refund by Hacker
This may seem as good news and consolation to exchanges and crypto enthusiasts. Last week Saturday, Justin Sun, who is HTX adviser, confirmed that HTX exchange has received the entire funds stolen by the hacker. He also assured that the hacker had been paid the promised white hat reward of 250 ETH which is estimated to be around $390,000 to $400,000 as initially promised via a post on X account formerly known as Twitter.
Should there be any thumbs up for the hacker? The decision for the hackers refund has been claimed to be a wise decision with HTX also being faithful to pay the promised ransom without insisting for the hackers disclosure. Exchangers need not to depend on the ransom strategies as a mitigation means to this continuous cyber threats. Instead, exchanges should look for further ways to tighten its security as there was a message dropped by this hacker.
Kraken Exchanger Acquires Coin Meester B.V.
In case you have not heard, the United States based crypto exchange mammoth Kraken is on a positive expedition to take new coasts that will help expand its European presence. These can be seen from its newest addition when talking about the purchase of Coin Meester B.V. to intensify the European cryptocurrency market.
Coin MeesterB.V. has been a crytocurrency exchange platform for over 5 years serving the cryptocurrency community since its establishment. Its registration as a Dutch crypto currency service provider also boast its market stands as an estimable cryptocurrency broker. Through this purchase, it is believed that their customer base will enjoy added advantage when initiated to Kraken exchange system for a much better trading experience. Before the purchase, Coin Meesster B.V traders enjoyed trade with over 170 different crptocurrencies.
Exception of the purchase of Coin Meester B.V, Kraken are still on the verge to venture into new opportunuties in the crypto space to push itself beyond just being a usual exchanger. Additionally, the extension of Kraken to the Netherland soil is a positive innovation to crypto enthusiasts as the urge to create a global dominance continues to echo.
To wrap it up, I continue to urge exchangers to stay vigilant when it comes to cyber security activities. The tactics did work for HTX although its not the most encouraged of all. Will the cyber threat loss for October superceed that of September? This will be told in few week to come. The latest Kraken acquisition is an encouragement to the platform and crypto enthusiasts as the journey to becomes globally recognised continues to pounce. I hope you enjoyed this news bundle. Hope to bring you more, always stay tuned.