Weekly Crypto Round: Market Surge, Regulation Laws and Security Breaches

By: Eva Baxter

Weekly Highlights (February 23- March 1)

• Concerns rise over the mysterious suspension of the Hong Kong-based cryptocurrency exchange BitForex as the website and trading app go offline. Users report difficulties initiating withdrawals and accessing the platform. Alarmingly, there has also been a substantial outflow of funds from the exchange's hot wallets.Read more
• MicroStrategy's social media account was exploited, leading to a phishing scam that cost around $440,000. The hackers utilized a fake airdrop of an Ethereum-based MSTR token to lure unsuspecting users.Read more
• Bitcoin and Ethereum futures interest is nearing record highs, demonstrating an unprecedented growth in the crypto market. Meanwhile, decentralized exchange Uniswap has surpassed Bitcoin in transaction fee earnings.Read more
• Bitcoin soars well beyond the $53K mark – a level it had not seen since December 2021. This comes amid a 30% increase in trading volume across the sector. Meanwhile, Ethereum trades above the $3,150 mark.Read more
• Tornado Cash, a crypto privacy protocol, is hit by a backend exploit, putting user deposits and sensitive information at risk. This security breach leads to the exposing of deposit details and possible theft.Read more
• HTX, previously known as Huobi, reapplies for a Virtual Asset Trading Platform license in Hong Kong after an unexpected withdrawal.Read more