🚀 DeltaPrime Suffers $6 Million Loss Due To Private Key Leak
#DeltaPrime #privatekeyleak #Arbitrum #Avalanche #cryptocurrency #security #hack #financialloss #DPUSDC #DPARB #DPBTCb #PRIME #ether #ARB
According to CoinDesk, over $6 million in tokens were drained from DeltaPrime wallets due to a private key leak, affecting only the Arbitrum version of the project. The exploit involved a hacker gaining control over an admin proxy, redirecting it to a malicious contract, leading to significant financial loss.
The project is offered on both Arbitrum and Avalanche blockchains. Monday’s exploit impacted only the version on Arbitrum as of European morning hours, and users could not withdraw funds on Arbitrum due to how the utilization of borrowing and lending works on the platform. A hacker gained control of the admin proxy and upgraded it to point to a malicious contract, as stated by Fuzzland founder Chaofan Shou.
Security firm Cyvers confirmed the exploits in a Telegram message to CoinDesk, stating it detected “multiple suspicious transactions” involving DeltaPrime and that it “seemed that admin has lost the private key.” Affected pools include #DPUSDC, #DPARB, and #DPBTCb, referring to on-chain lockers holding USDC stablecoins, Arbitrum’s ARB, and bitcoin.
Messages sent by DeltaPrime team members on its Discord channel viewed by CoinDesk said the team was investigating and working on the issue. They did not outright confirm or announce the exploit or reveal specific details as of European morning hours. DeltaPrime’s PRIME tokens are down 6.5% in the past 24 hours, tracking a market-wide drop led by ether.#DeltaPrime #privatekeyleak #Arbitrum #Avalanche #cryptocurrency #security #hack #financialloss #DPUSDC #DPARB #DPBTCb #PRIME #ether #ARB
🚀 U.S. Appeals Court Rejects Bitcoin Lawsuit Over Seized Hard Drive
#Bitcoin #Cryptocurrency #FBI #Lawsuit #HardDrive #IdentityTheft #CourtRuling #Prime #BitcoinLoss #CryptographicKeys #BitcoinTycoon #Blockchain #DigitalAssets #LostBitcoin #Glassnode #Chainalysis #CryptocurrencyLawsuit #BitcoinSeizure #BTC
According to Cointelegraph, a U.S. appeals court has dismissed a lawsuit filed by Michael Prime, a man convicted of identity theft, who alleged that the FBI illegally wiped a hard drive containing over 3,400 Bitcoin. The Eleventh Circuit Court of Appeals ruled that Prime cannot sue the government for the loss of access to approximately 3,443 Bitcoin, currently valued at $345 million, as he had previously denied owning such a substantial amount of cryptocurrency.
Prime, who was released from prison in July 2022, requested the return of the hard drive, but the FBI had already wiped it as part of its standard procedures. The court found Prime's delay in asserting ownership of the Bitcoin unreasonable, stating that even if the Bitcoin existed, granting Prime an equitable remedy would be unjust. The judges noted that Prime initially claimed to own only $1,500 in Bitcoin, contradicting his later assertions of being a Bitcoin tycoon.
The court's opinion highlighted inconsistencies in Prime's claims, noting that before his plea deal in November 2019, he claimed ownership of approximately 3,500 Bitcoin. However, after the plea, Prime reported owning only $200 to $1,500 in Bitcoin in his financial disclosure to the government in February 2020. He later informed the probation office that these holdings were his only remaining asset. The court dismissed Prime's explanation that he was reporting the market value of a single Bitcoin at the time, which he claimed was between $200 and $1,500, as Bitcoin's value exceeded $10,000 during that period.
The case underscores the importance of cryptographic keys, which are essential for accessing Bitcoin stored on physical devices like hard drives or wallets. Losing these keys results in the permanent loss of access to the funds. Data from Glassnode indicates that approximately 1.46 million BTC, or nearly 7% of Bitcoin's total supply, is likely lost forever. Chainalysis estimated in 2018 that the amount of permanently lost Bitcoin could be as high as 3.7 million BTC, representing over 17.5% of its total supply.#Bitcoin #Cryptocurrency #FBI #Lawsuit #HardDrive #IdentityTheft #CourtRuling #Prime #BitcoinLoss #CryptographicKeys #BitcoinTycoon #Blockchain #DigitalAssets #LostBitcoin #Glassnode #Chainalysis #CryptocurrencyLawsuit #BitcoinSeizure #BTC
🚀 Keir Starmer's Communications Director Tim Allan Resigns
#KeirStarmer #TimAllan #resignation #communicationsdirector #prime minister #leadership #administration #officeexit #seniorofficial #X
Tim Allan, the director of communications for Keir Starmer, has resigned, marking the second high-profile exit from the prime minister's office within a day. Bloomberg posted on X, highlighting the significance of this departure in the context of recent changes within the office. Allan's resignation follows another senior official's exit, raising questions about the stability and direction of Starmer's team. The reasons behind these departures have not been disclosed, leaving room for speculation about potential impacts on the administration's communication strategy and overall leadership dynamics.#KeirStarmer #TimAllan #resignation #communicationsdirector #prime minister #leadership #administration #officeexit #seniorofficial #X