Nexus Mutual founder and chief executive officer Hugh Karp’s personal wallet address has been hacked for more than $8 million.
The attacker, a member of the Nexus defi protocol, tricked Karp into signing a transaction that transferred funds to the hacker’s own address. The attacker gained remote access to Karp’s computer and modified his Metamask extension.
Some 370,000 Nexus Mutual (NXM) tokens, worth about $8.25 million on Monday, were stolen from Karp’s personal wallet address, as a result.
In a tweet, Nexus Mutual said the hack, which happened the morning of Dec. 14, was a “targeted personal attack on Hugh”. Karp described the attack as a “very nice trick,” and “definitely next level stuff.” He pleaded:
You’ll have trouble cashing out that much NXM. If you return the NXM in full, we will drop all investigations and I will grant you a $300k bounty.
Nexus Mutual is unaffected by the hack nor are any members victims for this scam. The protocol said the hacker completed their know-your-customer (KYC) processes 11 days ago and then switched membership to a new address on December 3.
Nexus added that an investigation is ongoing to identify the attacker and how they operated. The team at Nexus said the stolen funds are being held at this address, and the attacker has already started exchanging some via 1Inch Exchange.
Meanwhile, the attacker reportedly cashed out up $2.7 million of his loot on Tuesday, according to blockchain analytics firm Scorechain. The hacker made several swaps of the stolen NXM on Uniswap via 1Inch Exchange, giving them roughly 137 BTC valued at $2.7 million at current market prices..
What do you think about Hugh Karp’s hack? Let us know in the comments section below.
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<b>France Approves New Cryptocurrency Measures to Fight Anonymous Transactions</b>
The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing.
France Tightens Crypto Surveillance
France’s Council of Ministers endorsed an ordinance containing a series of measures to tighten the surveillance of cryptocurrency activities last week. The ordinance, which will enter into force in six months, was submitted by the French Minister of Finance, Bruno Le Maire, along with ministers Sebastien Lecornu and Olivier Dussopt.
La Maire tweeted Wednesday: “We must dry up all the terrorist financing circuits for the smallest euro … we presented to the Council of Ministers this morning an order making it possible to strengthen the fight against the anonymity of crypto-asset transactions.” According to the press release issued by the three ministers:
This ordinance strengthens the fight against the anonymity of transactions in digital assets by including digital asset service providers … among the entities having the ban on keeping anonymous accounts.
The ordinance’s measures will be specified in the upcoming decrees to be released this week, according to local media. All French cryptocurrency exchanges will be required to equip themselves with a more rigorous know-your-customer (KYC) system.
Crypto exchanges will have to request two proofs of identity from their customers from the first euro spent, instead of the previous 1,000 euro minimum limit. The ID requirements will be a SEPA transfer accompanied by an identity document. In addition, all exchanges, including those that do not offer fiat trading pairs, will need to register with an administrative body, likely the Autorite des marches financiers (AMF), France’s financial markets regulator.
However, the new requirements raise concerns that non-European customers will be unable to register on French cryptocurrency exchanges because they do not have a European bank account, thus depriving French startups of participating in the global crypto market.
“We are aware that this reinforced identification penalizes companies,” a ministerial source was quoted by the Capital publication as saying. She added that “The decree will therefore come into force in the spring” so companies have several months to comply.
What do you think about France’s new crypto measures? Let us know in the comments section below.
Source: <a href=https://cryptonews-btc.blogspot.com/>cryptocurrency news</a>.
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Nexus Mutual founder and chief executive officer Hugh Karp’s personal wallet address has been hacked for more than $8 million.
The attacker, a member of the Nexus defi protocol, tricked Karp into signing a transaction that transferred funds to the hacker’s own address. The attacker gained remote access to Karp’s computer and modified his Metamask extension.
Some 370,000 Nexus Mutual (NXM) tokens, worth about $8.25 million on Monday, were stolen from Karp’s personal wallet address, as a result.
In a tweet, Nexus Mutual said the hack, which happened the morning of Dec. 14, was a “targeted personal attack on Hugh”. Karp described the attack as a “very nice trick,” and “definitely next level stuff.” He pleaded:
You’ll have trouble cashing out that much NXM. If you return the NXM in full, we will drop all investigations and I will grant you a $300k bounty.
Nexus Mutual is unaffected by the hack nor are any members victims for this scam. The protocol said the hacker completed their know-your-customer (KYC) processes 11 days ago and then switched membership to a new address on December 3.
Nexus added that an investigation is ongoing to identify the attacker and how they operated. The team at Nexus said the stolen funds are being held at this address, and the attacker has already started exchanging some via 1Inch Exchange.
Meanwhile, the attacker reportedly cashed out up $2.7 million of his loot on Tuesday, according to blockchain analytics firm Scorechain. The hacker made several swaps of the stolen NXM on Uniswap via 1Inch Exchange, giving them roughly 137 BTC valued at $2.7 million at current market prices..
What do you think about Hugh Karp’s hack? Let us know in the comments section below.
Buy crypto on <a href=https://trading-news1.blogspot.com/>Cryptocurrency Exchange</a> fast and easy with your credit card.
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Despite unprecedented pressures on the global economy, you can still find opportunities in every major asset class. With CME Group, you can trade all asset classes, optimize across the trading cycle, and analyze performance with industry-leading data solutions. Learn more about why CME Group is the world's leading derivatives marketplace and get started now.
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<b>France Approves New Cryptocurrency Measures to Fight Anonymous Transactions</b>
The French council of ministers has approved a series of new measures to combat the anonymity of cryptocurrency transactions. Anonymous accounts are banned at crypto exchanges which must now impose stricter know-your-customer requirements. France’s Finance Minister Bruno Le Maire says the changes are necessary to fight against terrorism financing.
France Tightens Crypto Surveillance
France’s Council of Ministers endorsed an ordinance containing a series of measures to tighten the surveillance of cryptocurrency activities last week. The ordinance, which will enter into force in six months, was submitted by the French Minister of Finance, Bruno Le Maire, along with ministers Sebastien Lecornu and Olivier Dussopt.
La Maire tweeted Wednesday: “We must dry up all the terrorist financing circuits for the smallest euro … we presented to the Council of Ministers this morning an order making it possible to strengthen the fight against the anonymity of crypto-asset transactions.” According to the press release issued by the three ministers:
This ordinance strengthens the fight against the anonymity of transactions in digital assets by including digital asset service providers … among the entities having the ban on keeping anonymous accounts.
The ordinance’s measures will be specified in the upcoming decrees to be released this week, according to local media. All French cryptocurrency exchanges will be required to equip themselves with a more rigorous know-your-customer (KYC) system.
Crypto exchanges will have to request two proofs of identity from their customers from the first euro spent, instead of the previous 1,000 euro minimum limit. The ID requirements will be a SEPA transfer accompanied by an identity document. In addition, all exchanges, including those that do not offer fiat trading pairs, will need to register with an administrative body, likely the Autorite des marches financiers (AMF), France’s financial markets regulator.
However, the new requirements raise concerns that non-European customers will be unable to register on French cryptocurrency exchanges because they do not have a European bank account, thus depriving French startups of participating in the global crypto market.
“We are aware that this reinforced identification penalizes companies,” a ministerial source was quoted by the Capital publication as saying. She added that “The decree will therefore come into force in the spring” so companies have several months to comply.
What do you think about France’s new crypto measures? Let us know in the comments section below.
Source: <a href=https://cryptonews-btc.blogspot.com/>cryptocurrency news</a>.