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Three crypto venture capital firms, Paradigm, Pantera Capital, and Andreessen Horowitz (a16z), may have over $5b tied up in Silicon Valley Bank (SVB). Crypto venture funds used Silicon Valley Bank Funds were reportedly held in custody by SVB, which was shut down and the Federal Deposit Insurance Corporation (FDIC) assigned as a receiver by
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On March 10, Blockchain payment tech company and USD Coin (USDC) issuers Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB). Concerns have been growing over USDC late this week
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One of the wallets associated with the $50 million exploit of Uranium Finance in April 2021 appears to have awoken after 647 days of dormancy, with funds headed towards crypto mixer Tornado Cash. The sudden move was highlighted on Mar. 7 by cyber security firms PeckShield and CertiK on their
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An investigative report has suggested that major cryptocurrency exchange Binance was behind transferring roughly $400 million in funds from a Binance.US account to a trading firm managed by Changpeng Zhao.According to a Feb. 16 Reuters report, an investigation of Binance’s banking records and company messages showed more than $400 million
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Federal investigators have credited North Korea’s infamous hacker wing the Lazarus Group with attacking the bridge as part of their multi-year campaign to steal hundreds of millions of crypto dollars from exchanges and infrastructure. That campaign funds North Korea’s nuclear weapons program, investigators have said. Source
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Polaris Ventures, a charity created by former FTX and Alameda chief of staff Ruairi Donnelly, reportedly wants to access roughly $150 million earned from insider trading on the bankrupt exchange’s tokens.According to a Feb. 14 Wall Street Journal report, Donnelly received roughly $562,000 in salary during his time at FTX,
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Shares of Silvergate Capital (SI) fell sharply after the market close on Thursday following the publication of a Bloomberg article that the U.S. Department of Justice’s fraud unit was looking into the crypto bank’s dealings with the now-bankrupt FTX and Alameda Research. Source
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The Office of Foreign Assets Control of the United States Department of the Treasury has added two cryptocurrency wallets allegedly connected to a Russian sanctions evasion network as part of its list of Specially Designated Nationals.In a Feb. 1 announcement, OFAC said it had added one Bitcoin (BTC) address and
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"As part of these efforts, Igor and Jonatan Zimenkov both had direct correspondence with sanctioned Russian defense firms," an OFAC press release said. "They have additionally been involved in multiple deals for Russian cybersecurity and helicopter sales abroad and have engaged directly with Rosoboroneksport’s potential clients to enable sales of
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