US regulators collect $19 billion from crypto companies in 2024

Over the past few years, US regulators have significantly increased the pressure on the crypto industry. According to a recent report from CoinGecko, crypto companies have paid US regulators more than $19 billion in various lawsuits in 2024 alone. This amount is almost two-thirds of all payments since 2019.

The bulk of the payments in 2024 came from the bankrupt crypto exchange FTX and its associated trading firm Alameda Research. In August, they paid $12.7 billion to the Commodity Futures Trading Commission (CFTC).

In total, 8 major lawsuits against crypto companies were recorded in 2024. The total amount of payments was 78% higher than the 2023 figure ($10.87 billion) and 83 times higher than the 2022 figure.

 

Cryptocurrency-Stealing Malware Found in Python Package Index

Researchers at cybersecurity firm Checkmarx have sounded the alarm about a dangerous form of malware uploaded to the Python Package Index (PyPI), a platform where Python developers can upload and share code. The malware steals private keys, seed phrases, and other sensitive user data.

According to the firm, the malware was automatically uploaded by a suspicious user into several different software packages designed to mimic decoding applications for popular wallets such as MetaMask, Atomic, TronLink, Ronin, and other industry staples.

The malware was cleverly embedded into parts of the software packages, allowing it to remain undetected for some time due to what appeared to be harmless code. Checkmarx researchers first discovered the attack vector in March 2024, causing the platform to suspend new projects and new user accounts until the malicious elements were removed — which they eventually did.

Despite the vigilance and quick action of Checkmarx and the Python Package Index to address the issue, the malware returned in early October and has reportedly been downloaded over 3,700 times since then.

 

Three Companies Launch $20 Million Web3 Fund

Three companies — Gate Ventures, Movement Labs, and Boon Ventures — have announced a $20 million fund to advance Web3 technologies. The new initiative aims to support projects related to the Move blockchain and improve the security and performance of decentralised networks. One of the fund’s priorities is to accelerate the adoption of Move-based solutions, opening up opportunities for broader integration between the Move and Ethereum Virtual Machine (EVM) ecosystems. Gate Ventures, as the initiator and lead investor, offers its resources and extensive network to establish strategic partnerships in the Web3 industry. This support, combined with the experience of Movement Labs and the practical knowledge of Boon Ventures, provides a foundation for sustainable growth. Movement Labs, in turn, brings a deep understanding of the Move ecosystem and blockchain technologies, as well as a commitment to decentralised solutions and network interoperability. Speaking about the significance of the fund, Gate Ventures Managing Partner Kevin Yang noted that the new initiative advances the company's mission to implement cutting-edge solutions and support sustainable projects. Movement Labs co-founder Rushi Manche believes that the fund will be an important stepping stone for the development of secure decentralised finance and fully on-chain gaming. According to him, Move's capabilities allow for the creation of scalable and secure networks, which is also important for the growth of physical decentralised infrastructure.

 

Trump's Sons' Crypto Project to Start Token Sale.

The team behind the World Liberty Financial crypto project, supported by former US President Donald Trump and his three sons, has announced the start date for the WLFI token sale. The launch is scheduled for today, October 15.

The launch of the World Liberty Financial crypto lending platform, whose team includes Trump's three sons, was announced at the end of August. The platform is based on the Ethereum blockchain and the largest lending protocol on the market, Aave.

The pre-sale of WLFI tokens from World Liberty Financial will begin exactly three weeks before the presidential election, in which Donald Trump is running as a Republican. His two sons, Eric and Donald Trump Jr., are listed on the team as "Web3 ambassadors," and Barron serves as an adviser on decentralised finance (DeFi).

According to the WLFI token distribution plan, about 63% is allocated for sale, 17% for user rewards. 20% of the cryptocurrency volume was left for the project team.

 

Hyperliquid is preparing to launch the HYPE token and deploy EVM on the network

The Hyper Foundation was created to support the growth of the Hyperliquid blockchain. It is preparing to conduct the genesis distribution of its native HYPE token.

The new token is the first step towards proof-of-stake consensus and the launch of the Ethereum Virtual Machine (EVM) on the mainnet of the first-layer blockchain.

Hyper’s flagship product is the Hyperliquid order book-based decentralised perpetual trading platform, which is the largest in the world by volume with over $1 billion in daily trading volume across 145 pairs. It has over 200,000 users.

The launch of HyperEVM will give users access to a deeper liquidity pool and additional tools.

 

UAE approves launch of dirham-based stablecoin

The Central Bank of the United Arab Emirates has given preliminary approval to the launch of AED Stablecoin based on the national currency, the dirham.

The stablecoin, called AE Coin, could be the first regulated token pegged to the dirham. In order to receive a full licence to launch the stablecoin, AED Stablecoin must go through a full licensing process, which includes checking compliance with the Central Bank of the UAE.

If fully approved, AE Coin could become a local trading pair for cryptocurrencies on exchanges and decentralised platforms. It could also allow merchants to accept it for goods and services.

 

Tesla Moves Over $770 Million in Bitcoin

Car maker Tesla has moved 11,509 BTC (over $770 million) to new addresses, possibly for the purpose of selling. This is evidenced by data from the analytical platform Arkham Intelligence.

As you can see, the transfer was preceded by a series of test transactions. Before that, the wallets remained dormant for two years.

On average, the balance of each wallet is more than 1000 BTC. At the time of writing, the company has not commented on this in any way, so it is unknown whether Tesla retains control over the assets or whether the transfer is an over-the-counter transaction.

At the moment, Bitcoin did not react to the situation in any way. After the jump on the evening of October 15, 2024, the asset is still trading above the $67,000 level.

 

Radiant Capital hacked for over $50 million

Radiant Capital's lending protocol was hacked on the BNB Chain and Arbitrum networks. The team called for revoking permissions for the affected contracts using the Revoke service.

The total amount of losses exceeded $50 million, according to Ancilia data.

The transferFrom exploit uses a smart contract feature to allow one account to send a certain amount of tokens from the victim's account to a third wallet. Typically, this requires the victim to give permission to interact with the fake address.