We’re thrilled to announce that SUNDOG is now available for trading on Kraken! Funding and trading SUNDOG trading will be live as of 15:00 UTC today, Feb 25, 2025. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost. Trade on Kraken Please note: Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched). Geographic restrictions may apply. Here’s some more information about this asset: Sundog (SUNDOG) is the biggest dog meme on TRON , bringing sunshine, fun, and community spirit to the blockchain. Every chain needs its dog, and Sundog is here to shine. A serious yet playful memecoin, spreading joy, memes, and good vibes across the TRON ecosystem. Ready to trade but don’t have a Kraken account yet? Sign up today ! Get Started with Kraken Will Kraken make more assets available? Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here , and all future tokens will be announced on our Listings Roadmap and social media profiles . Our client engagement specialists cannot answer any questions about which assets we may be making available in the future. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorized to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here . The post SUNDOG is available for trading! appeared first on Kraken Blog .
A 41-metre superyacht was bought in crypto for 2027 delivery the broker, Denison Yachting, said in one of the first sale of its kind.
OKX fined $504M for U.S. AML violations as SEC eases pressure on domestic platforms.
The cryptocurrency market stands at the edge of what many analysts believe could be its most monumental bull run in years. With the market bouncing back from recent upheaval, investors are plotting their moves to lock in the biggest profits. Yet, those still holding onto XRP may be risking a golden chance at more rewarding ventures. Despite XRP’s historical significance and recent price spikes, several risks are casting doubt on its future potential. Smart investors are starting to shift their focus toward promising newcomers like Rexas Finance (RXS) — a coin poised to revolutionize the crypto landscape. The Problem with Holding XRP XRP has earned its reputation as a key player in cross-border payments, emerging as one of the best cryptos to buy . However there are challenges casting doubt on its resilience as a smart investment. Here’s why sticking with the Ripple token might end up costing you: 1. Ripple Regulatory Uncertainty Ripple’s been locked in a legal tug-of-war with the SEC since 2020. A 2023 court win offered some relief, ruling that XRP sales to retail buyers aren’t securities deals, but the SEC’s appeal in late 2024 has kept the storm clouds hovering. This unresolved XRP lawsuit fuels price swings and slows big players from jumping in, leaving the token’s future looking shaky for investors. 2. XRP’s Rising Competition XRP once ruled the cross-border payment game, but now faces heat from players like Stellar (XLM). With Stellar locking in more deals with financial heavyweights and enjoying a cleaner legal slate, it’s steadily chipping away at XRP’s lead. As these competitors pick up steam, XRP’s edge is slipping.“““ 3. Technical Risks and Price Volatility A major outage in early 2025 exposed cracks in XRP’s tech backbone, rattling trust in its dependability. Sure, it soared 300% in late 2024, riding a wave of pro-crypto U.S. policy shifts and ETF hype, but that high didn’t last. The current XRP price is $2.15, a brutal 31.52% drop over the past one month. This underscores how exposed XRP is to tech glitches and market jitters. XRP price chart Turning Attention to Rexas Finance (RXS): The Smarter Investment for the Next Bull Run With XRP’s future riddled with uncertainty, savvy investors are turning their attention to Rexas Finance (RXS) — a rising star in the altcoin space that offers innovative technology, regulatory clarity, and immense growth potential. Why RXS Stands Out from XRP Built on the Ethereum blockchain, RXS has quickly attracted institutional and retail investors with a preference for early-stage cryptocurrencies . Starting at a presale price of just $0.20, the RWA token has already raised over $45.5 million and sold more than 447.7 million tokens, signaling strong market demand. Key features that set Rexas Finance apart include: Token Builder & Launchpad: These features empower businesses to craft and roll out their own tokens effortlessly, tearing down the tech hurdles that once stalled blockchain growth. Real-World Asset (RWA) Tokenization: RXS is at the forefront of turning physical assets—think real estate, commodities, or financial tools—into digital tokens, bridging the gap between old-school finance and cutting-edge decentralized systems. Robust Security : A detailed Certik audit has given RXS’s smart contracts a clean bill of health, giving investors confidence in their choice. Rexas finance tokenomics Market Recognition and Growth Potential Rexas Finance’s listing on CoinMarketCap and CoinGecko has boosted its visibility, while its upcoming official launch on June 19, 2025, offers a unique chance for early investors to capitalize on pre-market growth potential. The new cryptocurrency to invest is also offering a $1 million giveaway opportunity, with 20 winners set to receive $50,000 worth of RXS tokens — a clear indication of its commitment to community growth and investor rewards. Final Thoughts: Time to Rethink Your Portfolio As the crypto market braces for what might be its most game-changing bull run to date, sticking with XRP could mean letting the next big wave of profits slip away. Regulatory challenges, tougher competition, and technical shortcomings are dimming XRP’s shine as a solid long-term bet. Meanwhile, Rexas Finance (RXS) presents a unique shot at jumping aboard a pioneering project early—one that’s centered on tokenizing real-world assets, ensuring regulatory transparency, and delivering cutting-edge blockchain advancements. With its low entry price, strong ecosystem, and growing buzz in the market, RXS might just be the ticket to massive gains in the upcoming cycle. For those eager to seize crypto’s future, redirecting attention from XRP to Rexas Finance could prove to be the sharpest play yet. The post Why Clinging to XRP Could Cost You the Next Big Bull Run — What to Buy Instead appeared first on CoinGape .
Discover how institutions navigate complexities caused by fragmentation in the crypto markets.
Decentralized finance is giving capitalism a makeover. There’s finally a version where everyone gets a fair shot, and everything’s out in the open.
Why do the world’s biggest crypto hacks always lead back to Park Jin Hyok? From Sony to Bybit, how has he perfected billion-dollar cyber thefts? Table of Contents Lazarus strikes again A hacker raised by the State Making of a cybercriminal legend The world is losing the cyber war — And Hyok knows it Lazarus strikes again In a startling event on Feb. 21, Bybit, a prominent cryptocurrency exchange based in Dubai, fell victim to a massive cyberattack. Hackers managed to infiltrate the company’s Ethereum ( ETH ) cold wallet, making off with approximately $1.5 billion in digital assets. This incident is now considered the largest heist in the history of crypto. The breach was first identified by on-chain analyst ZachXBT, who noticed unusual withdrawals from Bybit’s accounts. Bybit’s CEO, Ben Zhou, later confirmed that the attackers had manipulated a transaction, deceiving the wallet’s signers into approving a transfer to an unauthorized address. The sophisticated method involved masking the transaction to appear legitimate, thereby bypassing the multi-signature security protocols in place. In the aftermath, blockchain investigators have linked the attack to North Korea’s notorious Lazarus Group , a collective infamous for orchestrating significant cyber heists, including the $600 million Ronin Network breach in 2022 and the $234 million WazirX hack in 2024. Emerging reports suggest that Park Jin Hyok, a member of the Lazarus Group, might be the mastermind behind the Bybit hack. The Bybit hack has been exposed, and emerging reports suggest that Park Jin Hyok might be responsible. If true, this would place him among the most formidable hackers encountered to date, given his alleged track record. This incident is being described as one of the largest… pic.twitter.com/BqnB8kCPw2 — Nana Sei Anyemedu (@RedHatPentester) February 22, 2025 Hyok is not a new name in the world of cybercrime. In 2018, the FBI issued a wanted notice for him, accusing him of being part of a North Korean state-sponsored hacking organization responsible for some of the most damaging computer intrusions in history. Park Jin Hyok is #wanted by @FBILosAngeles on charges related to his alleged role as a North Korean computer programmer who is part of a state-sponsored hacking organization responsible for some of the costliest computer intrusions in history. https://t.co/m6Blto337L pic.twitter.com/DWEfad9cbV — FBI (@FBI) September 8, 2018 Let’s delve deeper into the background of Park Jin Hyok, the operations of the Lazarus Group, the allegations they have faced in the past, and their history of crypto-related hacks over the years. A hacker raised by the State Allegedly backed by the North Korean government, the Lazarus Group has orchestrated some of the most devastating cyberattacks in history, targeting financial institutions and critical infrastructure worldwide. But behind the group’s faceless operations, one name has surfaced time and again — Park Jin Hyok, a North Korean programmer accused of leading some of the most high-profile cyber heists of the past decade. The group’s early attacks were focused on espionage, gathering intelligence from military and corporate entities. Over time, however, the group pivoted toward financial crime, siphoning billions from banks, crypto exchanges, and other digital financial platforms. A key shift in this evolution came with the emergence of Bluenoroff, a Lazarus subdivision specializing in financial cyberattacks, first identified by cybersecurity firm Kaspersky Lab. Researchers linked multiple high-profile hacks to Bluenoroff, even uncovering a direct IP connection to North Korea. At the same time, they cautioned that some patterns could be deliberate misdirection — false flags designed to frame Pyongyang. Hyok, however, is not a fabricated identity. Despite North Korea’s insistence that he does not exist, he is very real, with a well-documented history tied to Lazarus and the country’s cyber warfare apparatus. A graduate of Kim Chaek University of Technology in Pyongyang, Hyok began his career at Chosun Expo, a government-linked IT company operating in both North Korea and China. Believed to be a front for state-sponsored cyber operations, this company served as a recruitment ground for elite programmers tasked with executing cyberattacks under the directive of North Korea’s military intelligence unit, Lab 110. Hyok’s name first entered the international spotlight following the infamous Sony Pictures hack in 2014. The attack , carried out in retaliation for the satirical film The Interview, crippled Sony’s internal networks, leaked vast amounts of sensitive data, and caused an estimated $35 million in damages. But it was the 2017 WannaCry ransomware outbreak that cemented both Lazarus and Hyok’s reputations as cybercriminal masterminds. The malware encrypted data on infected computers and demanded crypto payments for decryption keys, wreaking havoc on a global scale. The attack’s impact was catastrophic, yet North Korea denied involvement despite overwhelming evidence linking it to Lazarus. Since then, the group’s tactics have evolved, shifting more aggressively toward crypto theft — a strategy aligned with North Korea’s growing reliance on illicit financial operations to evade international sanctions. Making of a cybercriminal legend The group’s foray into crypto crime gained widespread attention in 2017 — the same year Park was first identified as a key figure in Lazarus. That year, a series of cyberattacks on South Korean exchanges siphoned millions from trading platforms, including the now-defunct Youbit, which was forced into bankruptcy after losing 17% of its assets in a single breach. Then, in 2018, the group pulled off a $530 million theft from the Japanese exchange Coincheck, the largest crypto heist at the time. Investigators linked the attack to North Korean operatives who used a mix of phishing campaigns, social engineering, and sophisticated malware to infiltrate Coincheck’s network. Hyok’s expertise in developing malicious software and crafting deceptive digital identities was believed to have played a crucial role, allowing the attackers to gain access to private keys controlling massive amounts of NEM tokens. As their tactics became more refined, Lazarus shifted to targeting blockchain networks directly. The 2022 Ronin ( RON ) Network breach, one of the most damaging in crypto history, saw $600 million drained from Axie Infinity’s ( AXS ) sidechain through a meticulously planned social engineering attack. The hackers exploited a weakness in Ronin’s validator system, using compromised private keys to authorize fraudulent transactions — an attack that required deep technical knowledge, patience, and precision, all hallmarks of Park’s expertise. U.S. authorities later confirmed that the stolen funds were laundered through various decentralized protocols before being funneled into North Korea’s financial system. The trend continued in 2023 and 2024, with Lazarus striking again. In July 2024, WazirX, one of India’s largest exchanges, suffered a $234 million loss in yet another case of multi-layered deception. The attackers exploited vulnerabilities in the exchange’s API permissions, gaining unauthorized access to transfer funds while bypassing internal security triggers. Blockchain forensic teams traced the stolen assets through a labyrinth of mixing services, with digital breadcrumbs once again leading back to North Korea. And now, the Bybit hack has revived the same pattern — this time on an even grander scale. The world is losing the cyber war — And Hyok knows it Lazarus Group’s cyber warfare has evolved into a well-orchestrated playbook that blends deception, infiltration, and precision laundering. Their ability to weaponize human psychology has been one of their most formidable advantages, allowing them to bypass even the most sophisticated security measures. And as recent data shows, they are only getting more efficient at their craft. According to Chainalysis, North Korea-affiliated hackers stole $660.50 million across 20 incidents in 2023. In 2024, this number skyrocketed to $1.34 billion stolen across 47 incidents, marking an over 102% increase. These figures account for 61% of all crypto stolen that year, and Lazarus Group was responsible for nearly all large-scale exploits above $100 million. Now, in just two months of 2025, they have already surpassed their 2024 total, with the Bybit hack alone siphoning $1.5 billion. The group’s operations begin long before a breach occurs. Over the past few years, North Korean IT workers have systematically embedded themselves in crypto and web3 companies, using fake identities, third-party recruiters, and remote job opportunities to gain insider access. The U.S. Department of Justice in 2024 indicted 14 North Korean nationals who had secured employment at U.S. firms, stealing over $88 million by misappropriating proprietary information and exploiting their positions. These operatives act as silent insiders, providing Lazarus with intelligence on exchange security protocols, wallet structures, and internal transaction flows. Once embedded, Lazarus executes its attacks through social engineering, phishing, and technical exploits. Employees are targeted with meticulously crafted emails impersonating trusted entities to extract sensitive login credentials. The Bybit hack followed a similar pattern, where attackers deceived the exchange’s multi-signature signers into authorizing malicious transactions by disguising them as routine approvals. Once the funds are stolen, they are quickly moved through a network of decentralized exchanges, privacy wallets like Tornado Cash ( TORN ), and cross-chain bridges. These transactions rapidly shuffle assets across different blockchains, making it difficult for investigators to trace them back to their original source. Typically, stolen crypto is converted multiple times between Bitcoin ( BTC ), Ethereum, and stablecoins before eventually reaching wallets controlled by North Korean operatives. Some of these assets are funneled through seemingly legitimate crypto trading firms, further obfuscating their origins and allowing the regime to convert digital assets into hard currency — a crucial workaround for international sanctions. And through it all, Park Jin Hyok stands at the center of nearly every major Lazarus operation. Whether he is the architect of these heists or just one of its most skilled operatives, his fingerprints are everywhere. With the Bybit attack rewriting the playbook yet again, the real question isn’t just how they pulled it off — but how much longer the world can keep up before the next billion vanishes into the digital void.
The team behind real-world asset (RWA)-focused layer-1 blockchain Mavryk Network, said it raised $5.2 million to advance its plans to integrate tokenization and decentralized finance (DeFi). The investment round was led by Ghaf Capital, Big Brain, MetaVest Capital, Cluster Capital, Collective Ventures and Atlas Fund, according to an email shared with CoinDesk on Tuesday. Mavryk Dynamics aims to simplify RWA tokenization and DeFi integration, making digital asset ownership more accessible. Its testnet offers users an environment to explore decentralized applications (dapps), purchase fractional test shares of RWAs, provide feedback, and earn rewards. The non-custodial blockchain's features include an on-chain protocol treasury and liquidity mining. The team has also developed a new RWA token standard and multiple decentralized exchanges (DEXs) for non-custodial trading and lending. Tokenization, or the minting of blockchain-based tokens that represent ownership of traditional assets, is gaining traction among institutions exploring ways of improving operational efficiency gains. The tokenized RWA market could grow to trillions of dollars through this decade, reports from firms including McKinsey and BCG , have suggested. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Crypto investment firm Multicoin is leading an $8 million purchase of GEOD tokens, a major capital injection into the crypto project building a hyper-accurate alternative to GPS. Geodnet hails from crypto's buzzy DePIN wing of startups that financially incentivise regular people to host their physical infrastructure. The project's token (its incentive mechanism) has more than doubled in the past 12 months amid torrid demand for Geodnet's services. GPS satellites that tell your phone about how far you are from the next intersection are plenty good for a drive around town. Not so for Geodnet's user base of farming drones and industrial robots, said project lead Mike Horton. They need location data down "to the size of a golf ball." Nearly 14,000 base stations provide centimeter-level location data to Geodnet' clients, many of whom are oblivious to its crypto incentives: Anyone running a $700 base station earns new GEOD tokens, a model that shifts the normally astronomical cost of deploying equipment away from the company. "Because of DePIN, we've been able to scale this thing crazy fast," said Horton. "We built in two years what the industry has been working on for 20 years, and we now have twice as many stations as anyone else." Multicoin's betting Geodnet's cheap, all-encompassing geospatial network will help facilitate the explosive growth of technologies that need accurate location data, particularly robots: self-driving vehicles, delivery drones, autonomous farming equipment. "For these robots to function, they need to answer a fundamental question: Where am I?, wrote Multicoin Investment Partner Shayon Sengupta in a position paper. Geodnet's existing customers are powering over $3 million in annual recurring revenue, said Horton. He's targeting 2025 growth in India and South America, particularly in the farming sector. The investors are calling the fundraise a "strategic" investment in which they bought GEOD tokens directly from Geodnet Foundation, the entity behind the network. Geodnet last raised capital in April 2024 from Coinfund, Pantera and VanEck. "We're raising the money to really focus on robots and drones," Horton said.
Peter Schiff, a longstanding critic of Bitcoin, intensifies his warnings as Bitcoin (BTC) dips below $89,000, igniting concerns over Michael Saylor’s financial strategies. Schiff highlights the alarming implications of Saylor’s