A hacker stole $23 million from one of the wallets of Singapore-based cryptocurrency exchange Bitrue on Friday.
Ethereum developers have completed the eagerly awaited Shanghai hard fork this week. This allows the network participants to withdraw their previously staked funds. According to CoinGecko data, Ethereum (ETH) reached an 11-month peak of $2,123.35 this week but is currently traded at $2,111.
Other cryptocurrencies, including Bitcoin, also saw significant gains on Friday. Despite expectations among observers of a drop in Ether’s price due to post-Shapella selling pressure, the day brought disappointment. Bitcoin rose by two per cent and approached the $31,000 milestone, while Ethereum outperformed by a wide margin, soaring by over 10 per cent in the last 24 hours.
Crypto Regulation
On Thursday, Finance Minister Nirmala Sitharaman stated that there is an increasing consensus among G20 member nations that any regulations concerning cryptocurrency assets should be implemented in a globally synchronized manner.
In a press conference after the G20 finance ministers and central bank governors meeting, Sitharaman expressed her satisfaction that all G20 members are now more receptive to the idea that any regulation concerning crypto assets should be conducted globally. According to her, the G20 has promptly responded to the challenge posed by cryptocurrencies.
In February, the finance ministry organized a seminar for G20 member states to discuss the development of a unified framework for addressing issues related to cryptocurrencies, such as Bitcoin. India has consistently emphasised the need for a collaborative global approach to tackling these problems.
Hacker Robs Crypto Exchange Bitrue Of $23M
According to a tweet from Singapore-based cryptocurrency exchange Bitrue, hackers were able to steal $23 million from one of its wallets Friday. Bitrue did not provide details on the specific method used by the attackers to carry out the theft.
The individual who carried out the attack removed digital holdings worth around $23 million, consisting of cryptocurrencies, such as Ethereum (ETH), Quatn (QNT), GALA, Shiba Inu (SHIB), Holo (HOT), and Polygon (MATIC).
Hot wallets are a particular kind of cryptocurrency wallet designed for the storage of cryptocurrencies that are linked to the internet and can be conveniently accessed. However, they are more susceptible to cyberattacks and theft compared to cold wallets, which are not connected to the internet