The Lazarus Group, also known as Bluenoroff or APT38, is a North Korean state-sponsored threat group active since 2009, known for financially motivated cyberattacks.
🔍 This article highlights 25 hacks from August 2020 to October 2023, tracing funds laundered through P2P marketplaces into fiat currency.
Initially famous for the Sony Pictures hack (2014) and the $81M theft from Bangladesh Bank (2016), the group recently shifted its focus to the cryptocurrency industry.
Reports estimate that since 2017, Lazarus has stolen
Key Incidents and Laundering Methods from 2020-2023
Laundering: Funds were consolidated into intermediary wallets and laundered through Tornado Cash.
🛡 Nexus Mutual Hack in December 2020
On December 14, founder Hugh Karp lost $8.3M to a phishing attack.
Laundering: Funds moved through ChipMixer and returned to Ethereum
In March 2021, funds from CoinMetro and Nexus Mutual were laundered through ChipMixer.
In April 2021, the EasyFi hack occurred:
$81M stolen from founder Ankitt Gaur’s device, infected with malware. Funds were transferred to Ethereum and deposited in ChipMixer, then moved to new addresses.
In October 2021, MGNR and PolyPlay hacks were executed:
Laundering: Funds deposited in Tornado Cash and moved through various intermediary addresses
In November 2021, the bZx hack occurred:
$55M stolen after a developer's private keys were compromised. Laundering involved moving funds through Tornado Cash and various intermediary addresses.
In late January, $1.2M was stolen from the ANKR founder. In March, ArthurOx was hacked, losing around $1.7M.
In June 2022, $4.9M laundered from previous hacks was transferred to two Binance deposit addresses.
In September, GeraCoin was hacked, losing $142K.
In October, the Algorand hack resulted in $750K stolen, and Darshan lost $1.75M.
In August 2023, the Steadefi and CoinShift hacks occurred:
Funds were deposited in Tornado Cash, moved through intermediary addresses, and converted to fiat via P2P marketplaces.
By November 2023, 374K USDT was blacklisted, and centralized exchanges froze an undisclosed amount of funds.
Additionally, $3.4M was blacklisted by stablecoin issuers.
Recently, the Japanese exchange DMM Bitcoin was hacked
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In the first post, we discussed the most interesting events of the first half of 2024.
In the second post, we touched upon the market sentiments.
Today, let's delve into the current state of each sector
Layer-1 Smart Contracts: The Rise of SOL, TON, and BNB
Layer 1 smart contracts are showing impressive results despite an overall decline. The market cap of this segment is $695.58 billion, which is 3.57% less than the previous quarter.
🔷 However, Ethereum has strengthened its position, reaching 62.11% dominance thanks to the SEC's approval of Ethereum Spot ETF.
BNB and Solana are also on the rise, adding $42 billion and $18 billion respectively for the year. Solana leads in the number of active users, attracting over 1.6 million daily addresses, followed by BNB with 1 million.
Meanwhile, SUI and TON have shown increased activity due to recent grants and popular projects.
Ethereum continues to lead in transaction revenue despite record low gas fees.
April and May saw the lowest fees since 2020, driven by the growing popularity of L2s and the Dencun upgrade.
⚪️ Ethereum generates 70% of the daily revenue among L1s, about $2.7 million daily.
🧬 Solana ranks second with $900k daily revenue.
In the DeFi sector, Ethereum holds the lead with 84.3% market share, mainly driven by DEX trading and staking.
Meanwhile, Solana attracts attention with meme coins, which generate a significant portion of transactions.
Top platforms by price performance this year:
Solana also shows growth, albeit more modest – 17.4% for the year
Layer-2: New Leaders Arbitrum and Base
Arbitrum and Base led in TVL growth in the first half of 2024,
User activity is also growing: Linea saw a spike in activity in April due to the "Linea Voyage: The Surge" campaign, and in June, Base surpassed Arbitrum thanks to the launch of Coinbase's smart wallet.
The cross-chain bridge market shows healthy competition. Circle’s CCTP became the leader by volume, covering 15.6% of the market.
The top 5 bridges control 51.8% of the volume, indicating no platform dominance and healthy competition.
Ethereum is no longer the main chain for NFTs. Bitcoin, thanks to protocols like Ordinals and Runes, leads in trading volume.
Solana ranks first in user activity due to low fees and fast transaction speeds.
However, despite the initial surge in October last year, NFT trading volumes on Solana are gradually declining, reflecting a general downtrend in the NFT market.
Pixels increased its active users by 270% since the start of 2024. Despite the token launch and airdrop in February, the game continues to attract players and even increase their number.
The TON-based Notcoin reached 40 million users, eight times more than Pixels, demonstrating the huge potential of hyper-casual games.
Fiat-collateralized stablecoins make up 96.6% of the real-world assets market. USDT continues to dominate, increasing its market cap by 22.4% in the first half of the year 💵
BlackRock’s BUIDL fund leads in assets under management, reaching half a billion dollars in less than three months.
Solana-based meme coins have outperformed Ethereum-based ones, showing results eight times higher.
Political memes, such as TRUMP and BODEN👤 are also gaining popularity, increasing their market cap by 5100% this year.
In the next post, we will talk about listing...
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Where are the big players investing? It's time to highlight the major venture capital investments from the recent period.
Here are some projects currently in the spotlight...
Farcaster is a decentralized protocol for creating social applications.
In May, CEO Dan Romero announced the closing of a significant Series A funding round of $150 million from Paradigm, a16z, Variant, and others. The total investment amount is $180 million.
Sentient is an AI research organization aimed at creating a new open economy for AI builders and creators.
The project raised $85 million in a Seed round from Pantera Capital, Framework Ventures, and Founders Fund.
Polymarket is a decentralized platform for betting on various events.
In May, they closed a Series B round of $45 million from Founders Fund, DragonFly Capital, Vitalik Buterin, and others. The total investment amount is $74 million.
Conduit is a project that allows networks to be deployed in minutes and scales decentralized applications.
In June, they announced a new Series A round of $37 million from Paradigm, Haun Ventures, and Coinbase. The total investment amount is $44 million.
MegaETH is an EVM blockchain promising over 100,000 transactions per second while maintaining a connection with the Ethereum ecosystem.
The project raised $20 million in a Seed round from DragonFly Capital, Vitalik Buterin, and Robot Ventures.
Ora Protocol is a verifiable oracle protocol that integrates AI and complex computations into the blockchain.
In June, they closed a Series A round of $20 million from Polychain Capital, HashKey Capital, and others. The total investment amount is $23 million.
Symbiotic is a restaking protocol that allows the creation of sovereign ecosystems for decentralized networks.
The project raised $5.8 million in a Seed round from Paradigm and cyber Fund.
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In the first post, we discussed the most interesting events of the first half of 2024.
In the second post, we touched upon the market sentiments.
In the third post, we explored the state of each sector.
Today, let’s delve into the factors that could influence the future development of the cryptocurrency market
Recent developments in US politics have highlighted a significant shift regarding cryptocurrencies
There are several reasons for this:
The industry has scored victories in Washington, increasing political spending to $80 million for the 2024 elections.
Crypto-focused PACs like Fairshake have raised about $85 million and supported crypto-friendly candidates, including Republican Mark Messmer.
Crypto-friendly legislation has garnered bipartisan support.
For instance, the House of Representatives passed a cryptocurrency regulation bill with the support of Democrats. The Senate also passed a resolution to repeal SEC crypto guidelines.
The Biden administration has shown a willingness to engage with the crypto industry and wants to work with Congress on crypto policy
Republicans, including Donald Trump, are increasingly aligning with the crypto industry, accepting crypto donations.
Governments worldwide are developing new rules for cryptocurrencies
IOSCO has recommended global standards, and the World Economic Forum's initiative analyzes national regulatory outcomes.
The need for regulation has increased following bank collapses linked to crypto activities
Three important questions for crypto regulation arise:
More than 1 million bitcoins are now held in ETFs. Since the approval of spot Bitcoin ETFs in the US on January 10, 2024, over 70 such ETFs have appeared globally, attracting more than $28 billion in investments.
🪙 The total value of bitcoins in these ETFs exceeds $72 billion.
More than 1,000 institutions hold Bitcoin ETFs in the US, totaling over $11.5 billion. Most of these are hedge funds and asset managers like Millennium Management and Jane Street Group.
Coinbase provides custodial services for 7 out of the 10 largest Bitcoin ETFs in the US and now controls 78% of the total institutional assets by AUM. Along with its existing crypto exchange business, Coinbase-related wallets now hold a significant amount of bitcoin (
On May 23, 2024, the SEC approved spot Ethereum ETFs in the US, leading to a 17.7% increase in ETH price that day. How big is the Ethereum ETF market, and how will it impact ETH price?
🔷 Analysts estimate that net inflows into US-listed spot Ethereum ETFs will be around $5 billion over the first four months.
Thus...
The CMC report covers the past, present, and future, providing valuable insights to make our understanding of the crypto world more informed and strategic
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Today, we're gonna chat about the different types of investors you’ll find in the market and what sets them apart, plus we'll throw in some real-life examples. Everyone's always buzzing about "Fund X just dropped $X into a token."
But to make smart moves with this info, you gotta understand the strategies and motivations behind these investors. Spoiler alert:
These funds raise billions and invest in a wide range of startups. They live off management fees and are not afraid to invest in seemingly unviable startups, but they are very strict in legal matters
A fund may have hundreds of analysts, while the managing partner might be busy with geopolitics and social media debates.
Examples: DCG (Digital Currency Group), Multicoin Capital, Polychain Capital.
These market leaders are the first to notice and create new trends. Their voice carries weight, and many startups want to see them at their meetings. They often lead investment rounds
Examples: Kleiner Perkins in the internet, Benchmark in telecom, Sequoia in PCs, a16z in crypto, Accel in SaaS, USV in social media.
Funds whose strategy is built on strong connections with partners and regular joint events, such as trips to Burning Man
Examples: Y Combinator, Orange DAO.
Small teams of professors, researchers, and Nobel laureates who understand deep technical or scientific value. They bet on geek teams that then create billion-dollar companies
Examples: Lux Capital, Two Sigma, Robot Ventures in crypto.
These investors fund long-term and ambitious projects like longevity research, asteroid mining, and quantum computers
They are willing
Examples: Blue Horizon Corporation, investing in asteroid mining.
QuantumTech Ventures, funding quantum computer research.
These investors focus on market trends and expect returns within 6-12 months
They follow market cycles and narratives, often focusing on cryptocurrencies and the secondary market. Product and team are less important to them than market trends.
Examples: DWF, Jump Crypto, Wintermute.
These investors write checks for amounts from $100k to $300k to dozens of startups each month, but only after someone else takes the lead in the deal
Examples: GreenField Capital, Kenetic Capital, Animoca Brands.
These investors put their personal funds (from $20k to $200k) into projects, often due to personal connections with the founder
If they understand technology, they often have more success than funds, getting access to projects at the earliest stages.
Examples: Vitalik Buterin, Sandeep Nailwal, Anthony Pompliano.
The world of investing is rich and diverse, with each type of investor contributing to the growth of technology and innovation. But before you start following their lead, it’s crucial to understand their strategy and motivation.
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Silicon Valley, the cradle of innovation and advanced technology, has always been known for its ambitious startups, brilliant minds, and unprecedented successes. Here, trends are born that later define the future.
But behind the glitz and success lie interesting stories and unexpected twists. Let's explore why those who once supported liberal ideas are now leaning towards conservative values.
The development of computer science, the advent of personal computers, and the internet were heavily influenced by the hippie subculture, advocating for peace, tolerance, and love.
In the 1990s, with the commercialization of the internet, liberal culture flourished anew:
The fall of the Berlin Wall, the collapse of the USSR, and the transformation of China into the "world's factory" — all these events can be considered the triumph of liberal ideology.
They had a strong influence on technomillionaires like Steve Jobs, Bill Gates, Jeff Bezos, Sergey Brin, and Larry Page, who supported and donated to the Democrats.
Peter Thiel and David Sacks, who studied together at Harvard, opposed the liberal ideology, promoting conservatism and libertarianism. Their book, "The Diversity Myth: Multiculturalism and Political Intolerance on Campus," criticized political correctness.
In 1998, Thiel founded Confinity, which later merged with Elon Musk's X.com
With the money from PayPal's sale, Thiel and Sacks founded successful startups and venture funds, becoming key figures in Silicon Valley.
In 2004, Thiel became a mentor to Mark Zuckerberg
In 2016, Thiel supported Trump, causing a conflict with Silicon Valley, but Facebook played a key role in Trump's election victory.
Today, Thiel and Sacks play key roles in Trump's new bid for the presidency
Despite being in the minority for a long time, they have managed to sway many technomillionaires who previously supported Democrats to their conservative-libertarian side.
Now, even consistent liberals are ready to vote for the conservative Trump. Everything changes, and so do sentiments.
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She basically told me I’ve been a total
For a crypto junkie, it’s chump change, but if you’re a frequent flyer, the wasted cash can pile up.
Here’s the scoop — there’s this thing called eSIM. What’s that, you ask? Instead of explaining myself, I
eSIM is a virtual SIM card that lets you connect to the internet without needing a physical SIM card. You load the eSIM onto your device via a QR code or special activation code, and you can easily switch between different plans and operators.
Now, the juicy part… As a foreigner in a new country, you’re almost guaranteed to get sold a SIM card for $50-100. But an eSIM might cost just $5-7 a month, depending on the location.
Plus, no more filling out endless forms and handing over your passport in some countries. The perks of eSIM are obvious:
To save you some Googling, my friend also hooked me up with an eSIM service she uses. I tried it recently — it’s pretty solid — @Mobile.
The best part is you can do everything right in Telegram
For the
For the hardcore crypto heads
Overall, the service is interesting, and I’m curious to see where else it can be useful. For those interested, here’s the link: https://t.me/mobile/?start=kols_milf
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Recently, the US Congress held hearings where FBI Director Christopher Wray made several important statements.
In particular, he discussed the investigation of the incident involving the assassination attempt on US presidential candidate Donald Trump.
According to Wray, Thomas Matthew Crooks, who shot at a campaign rally in Pennsylvania on July 13, searched online a week before the attempt for information on how far Lee Harvey Oswald was when he shot President John F. Kennedy in 1963. This may indicate his preparation for the attack.
Wray stated at the hearings of the House Judiciary Committee:
"I can say, and I think this hasn't been publicly announced yet, the following: we only discovered in the last couple of days <...> as a result of analyzing the laptop associated with the shooter, that on July 6, he searched on Google for the answer to the question of how far Oswald was from Kennedy."
On the day of the assassination attempt, July 6, Crooks registered to participate in the rally with Trump in Butler and launched a drone to fly around the rally area.
The drone was in the air for 11 minutes, and Crooks monitored its flight from his phone. Investigators believe that Crooks used the drone to see what was happening behind him.
To understand the context, it's important to remember that the 35th President of the United States, John F. Kennedy, was killed in Dallas on November 22, 1963, during a campaign trip to Texas.
The official commission concluded that the incident was the work of lone shooter Lee Harvey Oswald, who fired from the sixth floor of the Texas School Book Depository.
Despite the importance of the presented facts, equally interesting were the moments when the FBI director dodged questions from a congressman from Florida, who asked questions unrelated to Donald Trump.
The questions concerned President Biden's cognitive issues
These facts only underscore the complexity and ambiguity of the current political situation in the USA
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