Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
The KyberSwap hacker has demanded the surrender of all Kyber company assets, both on-chain and off-chain, including shares, equity and tokens. Meanwhile, Swiss asset manager Pando Asset, a firm that already offers crypto exchange-traded products in Europe, has become the 13th firm attempting to win approval from United States regulators, who have separately sanctioned crypto mixer Sinbad and seized its website over allegations that it laundered money for North Korea’s Lazarus Group.
KyberSwap hacker demands complete control over Kyber company
The hacker behind the $46 million KyberSwap exploit has finally released their conditions for the return of the stolen funds, which includes “complete executive control” over the Kyber company.
On Nov. 30, the KyberSwap hacker sent an on-chain message addressing all relevant and interested parties. The hacker laid out demands, including control over the company, temporary full authority and ownership of its governance mechanism, the KyberDAO, all documents related to the company and all of the Kyber company assets.
In exchange, the hacker promised to buy out the company’s executives at a fair valuation and “wished well” in their “future endeavors." The hacker also promised to double the employees’ salaries under the new regime. They wrote that while some may not want to stay, they will still be given a 12-month severance with full benefits and assistance in finding new careers.
The hacker explained that this was their best and only offer. According to the exploiter, the Kyber team should meet the demands by Dec. 10. If not, the “treaty falls through.” The hacker also threatened that the treaty would also be void if any agents contacted them concerning the trades they placed on Kyber.
Spot Bitcoin ETF race gets unexpected 13th entrant
Swiss asset manager Pando Asset has become an unexpected late entrant into the spot Bitcoin exchange-traded fund (ETF) race in the United States.
On Nov. 29, Pando submitted a Form S-1 to the Securities and Exchange Commission — used to register securities with the agency — for the Pando Asset Spot Bitcoin Trust.
We have a late entrant into the spot bitcoin ETF race…
Pando, who already offers crypto ETPs in Europe. pic.twitter.com/OamnqJrUNJ
— Nate Geraci (@NateGeraci) November 29, 2023
Like other ETF bids, the trust aims to track Bitcoin’s price with the custody arm of the crypto exchange Coinbase to hold Bitcoin on behalf of the trust.
Pando is the 13th bidder aiming to have an approved spot Bitcoin ETF in the U.S. and joins the race with a dozen others that have been bidding for SEC approval, which include BlackRock, ARK Invest and Grayscale.
In a Nov. 29 X (Twitter) post, Bloomberg ETF analyst Eric Balchunas said he has “more questions than answers” about Pando’s filing, questioning why it came so late.
U.S. regulators sanction Sinbad
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned cryptocurrency mixer Sinbad over allegations that it laundered money on behalf of North Korea’s Lazarus Group.
On Nov. 29, the OFAC accused Sinbad of processing “millions of dollars’ worth of virtual currency from Lazarus Group heists,” including the 2022 hacks of Horizon Bridge and Axie Infinity’s Ronin Bridge, as well as the more recent hack of Atomic Wallet. These heists compromised roughly $820 million in user funds at the time.
“Mixing services that enable criminal actors, such as the Lazarus Group, to launder stolen assets will face serious consequences,” said Treasury official Wally Adeyemo. “The Treasury Department and its U.S. government partners stand ready to deploy all tools at their disposal to prevent virtual currency mixers, like Sinbad, from facilitating illicit activities.”
A Nov. 29 screenshot of Sinbad’s website.
The home page of Sinbad’s website currently reads: “This service has been seized,” with various logos of U.S. government departments.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.