US stock markets have surged to new record highs, fueling optimism among asset managers despite a low probability of a Federal Reserve rate cut in July. Bitcoin has mirrored macroeconomic
Conor Grogan, head of product at Coinbase, has raised alarms over a potential security breach involving $8.6 billion worth of Bitcoin moved from long-dormant wallets on Thursday. Key Takeaways: Coinbase’s Conor Grogan flagged a potential hack after $8.6B in long-dormant Bitcoin moved. A suspicious Bitcoin Cash transaction just before the BTC transfers raised further concerns. Some speculation suggests the wallets could belong to Roger Ver. “There is a small possibility that the $8B in BTC that recently woke up were hacked or compromised private keys,” Grogan posted on X Friday . The Bitcoin came from eight wallets that had been dormant for more than 14 years. Bitcoin Cash Transaction Raises Suspicions Ahead of $8B BTC Transfer Grogan pointed to an unusual transaction involving Bitcoin Cash (BCH) made just hours before the massive Bitcoin movements. He noted a single BCH test transaction from one of the whale clusters, followed by sweeping transfers of 10,000 BTC at a time shortly after. “What makes me say this is the other BCH wallets have not been touched at all; why wouldn’t they also sweep these?” Grogan added, suggesting the behavior could indicate compromised keys rather than owner activity. Blockchain intelligence firm Arkham later confirmed that a single entity was behind the transfers, moving all $8.6 billion in BTC from eight wallets that had received the Bitcoin back in April or May 2011. A single entity moved $8.6 BILLION of BTC from 8 addresses in the past day. All of the Bitcoin was moved into the original wallets on either 2nd April or 4th May 2011 and has been held for over 14 years. Currently, the Bitcoin is sitting in 8 new addresses and has not been… pic.twitter.com/nm53tVRzLJ — Arkham (@arkham) July 4, 2025 The assets, untouched for more than 14 years, have now been consolidated into eight new wallets, Arkham said, and have not been moved since the Thursday transactions. Meanwhile, 10x Research noted that speculation is swirling that these wallets could belong to Roger Ver, the early Bitcoin evangelist known as “Bitcoin Jesus.” Ver was released on bail from a Spanish prison on June 5, and the reactivated coins were last moved in May 2011, just months after Ver reportedly began acquiring Bitcoin in February 2011. If true, the wallets could represent billions of dollars under Ver’s control. Speculation that the $8.6B in Dormant Bitcoin Just Moved are from Roger Ver. He was released on bail from Spanish prison on June 5 and those Bitcoins last moved in May 2011 while Roger got into Bitcoin in February 2011. He will certainly have billions of dollars worth of… — 10x Research (@10x_Research) July 5, 2025 Despite speculation over a potential hack, Bitcoin’s price remained steady, down 1% in the last 24 hours and trading at around $108,150 as of publication, according to CoinMarketCap data. Crypto Hacks, Scams Cost Investors $2.2B in H1 2025: CertiK Crypto investors lost over $2.2 billion to hacks , scams, and breaches in the first half of 2025, driven largely by wallet compromises and phishing attacks, according to CertiK’s latest security report. Wallet breaches alone caused $1.7 billion in losses across just 34 incidents, while phishing scams accounted for over $410 million across 132 attacks. Two major incidents, including Bybit’s $1.5 billion hack in February and Cetus Protocol’s $225 million exploit in May, skewed the year’s losses upward, together accounting for nearly $1.78 billion. Without these, losses align more closely with previous years at around $690 million. Ethereum remained the primary target, suffering over $1.6 billion in losses across 175 events. The report also pointed to rising sophistication of phishing schemes and ongoing risks from social engineering, urging crypto users to verify links, avoid suspicious sites, and use hardware wallets. The post $8.6B Bitcoin Move Sparks Fears of Massive Hack: Coinbase’s Conor Grogan appeared first on Cryptonews .
Crypto exchange OKX has pledged improvements to its information collection process after its system mistakenly flagged normal users as risky. In a Saturday X post , the exchange apologized for its mishap, conceding that its compliance and risk systems still grapple with false positives and operational shortcomings. The exchange, however, claimed it is working to improve its risk control processes promptly. OKX says it performs checks on its employees as well In its X post, OKX also detailed the necessity of its compliance and risk control systems and what they mean for users. It explained that the processes are vital to ensure the platform remains free from illicit use and meets the required compliance laws. The exchange also asserted that it vets its staff and upholds a zero-tolerance stance on misconduct, including spreading disinformation, engaging in insider activities, or undermining user rights. It added that it has several internal monitoring checks to help spot infractions and take action promptly. For its clients, the exchange stated that its systems perform identity verification (KYC checks), monitor transactions, screen against sanctions lists, and detect potential market manipulation. It also incorporates third-party databases with proprietary behavioral models to help identify suspicious or risky accounts. Should an account be verified to have breached legal requirements or user agreements, the exchange responds by issuing notices, requesting additional information, suspending certain features, or closing the account permanently. However, if a user’s account is tied to sanctions or terrorism, the exchange will freeze their assets. OKX acknowledges false positives and asks users not to worry The exchange, however, revealed that its compliance and risk control systems are not 100% accurate, having flagged several normal users as risky. The exchange argued that many service providers typically use an aggressive play in identification checks, driven partly by regulatory guidance recommending prudence in risk oversight. As a result, even fully compliant users with normal activity may occasionally receive additional information requests from the compliance team. The notice also claimed that platforms evaluate customer risk levels on multiple factors. If one’s account is found to be high risk, more investigation into where the funds originate is conducted. The exchange, nevertheless, acknowledged that false positives are an issue in any compliance system. It further commented, “We are continuously improving the user experience for submitting documents after triggering risk controls. If you are asked to provide information such as the source of funds, proof of address, or past employment details, please don’t worry—just submit the information truthfully.” It also assured users that as long as they are not involved in any criminal activity, their account and funds will not be affected, and the platform is still obligated to protect their privacy. One X user, however, accused OKX of maliciously freezing user account funds and excessively collecting user privacy information. He explained that the exchange had asked for more information multiple times and even froze about 10,000 USDT in his account. He claimed he contacted the platform’s customer service and submitted tickets, which led to more inquiries about his work history and residential addresses. From his experience, he concluded that the exchange only wanted to trouble its consumers, saying it should be a wake-up call to everyone. He claimed the exchange starts by asking for additional info and then moves on to ask for more repeatedly before eventually freezing your account and rejecting your application. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Hamak Gold, a London-listed early-stage gold explorer, is adopting a Bitcoin treasury strategy to diversify its assets amid financial pressures. The company recently raised £2.47 million to support both its
Bitcoin mining firms are increasingly pivoting to artificial intelligence (AI) to offset revenue declines following the 2024 halving event, reshaping their business models amid evolving market dynamics. While some miners
The early-stage gold explorer’s Bitcoin reserve strategy has become a familiar playbook among financially pressured firms.
In the near term, these macro headwinds could cap BTC upside.
The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s bullish expectations. In light of this, a leading crypto analyst warns that current price action lacks the strength needed for a powerful upward move, urging traders to remain cautious. The analyst notes that without a clear breakout signal, entering the market now could expose investors to potential downside risks. $2,800 Breakout Key For Ethereum Price Bull Rally A new analysis released on the X social media platform by market expert Daan Crypto Trades reveals that the Ethereum price has continued to trade within a well-defined price channel, currently holding above the $2,500 level at $2,527. The analyst emphasized that $2,800 remains the key breakout point that could trigger an Ethereum bull rally. Related Reading: Crypto Analyst Predicts $10,000 ATH For Ethereum This Cycle, Here’s Why The market expert shared a chart highlighting that ETH remains confined between a “range low” of $2,313 and a high of $2,736, with multiple failed attempts to break out of this tight structure. The chart also shows that the mid-range level of around $2,519 has become a critical point of control. Despite a brief rally that pushed the Ethereum price above $2,570 earlier this week, the cryptocurrency was still unable to sustain the upward move, slipping back below the $2,519 level before recovering to its current price of around $2,527. Daan Crypto Trades explains that the reason for Ethereum’s sluggish performance is its continued struggle to establish a solid footing in the $2,500 price region. Given the clear price imbalance in this zone, the analyst advises traders to exercise caution before entering the market. Within this range, traders may encounter increased price volatility and potential fakeouts, both above and below the key support and resistance levels. Given the unstable market environment, Daan Crypto Trades suggests that until Ethereum breaks and holds above the $2,800 mark, traders are likely to face more sideways action and unpredictable price swings. A clean breakout above $2,800 could be the key to the start of a bullish trend, improving conditions for ETH and pushing it out of its present downtrend. ETH Four-Year Consolidation Sees An End Market expert Mister Crypto has also shared insights on the current Ethereum price action. The analyst declared in a recent X post that ETH is on the verge of exiting a prolonged multi-year consolidation phase. His chart, which visualizes the cryptocurrency’s historical price movements, marks two key periods—a powerful 48x rally from 2018 through 2021, followed by a four-year horizontal consolidation range that spans from the 2021 top to the present day. Related Reading: The Ethereum Waiting Game: Breakout To $2,800 Or Crash To $2,000? The analysis suggests that this extended period of range-bound movement could be a prelude to a potentially explosive bull trend, similar to the breakout seen in the past. In line with this, Mister Crypto marks a large open-ended “??X” label on his chart, suggesting the next breakout phase is imminent—though the precise magnitude is left speculative. Featured image from Getty Images, chart from Tradingview.com
The Abstract blockchain has announced a strategic partnership with open architecture K-Pop agency Modhaus . The press release shared with Cryptonews notes that Modhaus’s fan engagement platform Cosmo will launch on Abstract. With this, the partners aim to bridge global entertainment and blockchain, they said. Cosmo is a platform that enables millions of fans to collect digital collectibles and voting tokens, which they can use to vote on specific decisions. They can also collect digital photocards and complete interactive quests. According to Michael Lee, Abstract co-founder and CEO, “Cosmo is exactly what Abstract was built for—a space where fans don’t just watch, they vote, collect, and move in sync with their favorite artists.” Moreover, moving to Abstract will provide Cosmo and its users with faster performance and scalable infrastructure, the teams claim. Also, they gain simpler onboarding via an email, Touch ID, or Face ID. “Fans will gain all the benefits of blockchain without ever needing to understand it,” the announcement says, as well as “deeper integration into a growing ecosystem of culturally relevant, consumer-first applications.” According to Modhaus CEO Jaden Jeong, “fans deserve a real seat at the table—not just as viewers, but as participants in the creative process.” The partnership with Abstract, he continues, will enable Modhaus to create an immersive and democratic standard for artist-fan interaction “without forcing fans to navigate the complexities of blockchain technology.” You may also like: K-pop Agency Modhaus Announces $8 Million Series A Investment A South Korean blockchain-based K-pop startup has raised $8 million in its series A funding round.Modhaus announced in a statement today that the series A funding round has pushed their total fundraising to $12 million overall. The funding round was led by U.S. investment firm Sfermion, and included participation from other investors such as SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III and Foresight Ventures.Modhaus is set on integrating additional... 9 Million Minted Photocards Abstract says it has recorded nearly 2 million Abstract Global Wallets deployed, with a user base largely composed of Gen A and Z consumers with “discretionary spending power in high-GDP markets.” This makes the chain “a uniquely valuable platform for brands looking to activate digitally native, culturally fluent audiences,” it claims. Meanwhile, launched in 2021, Modhaus is a South Korean entertainment company behind K-pop groups tripleS , ARTMS , and idntt . The company raised $8 million in a series A funding round in late 2023, resulting in a total of $12 million. The team argues that “fans should hold more power over the production of their favorite artists.” It adds that “Modhaus will expand the role of fans from mere consumers to decision-making producers.” Cosmo has so far seen 266,000 users, 9 million photocards minted, and 1.5 million monthly transactions. Source: Modhaus Moreover, the partnership between these two companies comes as the multi-billion global K-pop fandom market continues to surge, powered by digitally native users. When it comes to Modhaus’s groups specifically, tripleS has recorded 3.4 million followers and won Best New Female Artist at the major award show, the 2023 MAMA Awards. Furthermore, ARTMS hit #1 on Billboard’s Top New Artist Albums, seeing over 24 million streams on Spotify. Abstract’s Lee concluded that “together, Cosmo and Abstract aren’t just tech—they’re the prototype for a new cultural operating system. One that brings back what the internet lost: fun, ownership, and unapologetic creativity.” You may also like: K-pop Giant and BTS Label HYBE Abandons Blockchain Project Major South Korean record label HYBE has shuttered its blockchain project Binary Korea less than three years after launch due to poor financial performance.The Seoul-based subsidiary will merge with HYBE. Meanwhile, the parent company will focus on the entertainment side of business, specifically artist management.According to AlphaBiz, HYBE stated that the goal of this merger is to “enhance management efficiency.”The report further alleges that Binary Korea has been quite... The post Abstract and K-Pop Agency Modhaus Partner to Give Fans a ‘Real Seat at the Table’ appeared first on Cryptonews .
When mining got tough, these firms chased AI dreams. Here’s how it panned out.