An Ethereum re-staking victim recoups 80% of lost funds, Argentina learns from El Salvador’s Bitcoin experience, and speculation rises over Caitlyn Jenner’s X account compromise. Stay updated with the latest in the crypto world.
Ethereum Re-Staking Victim Recovers 80% of Lost Funds
In a rare turn of events, a user who fell victim to a significant Ethereum re-staking exploit has managed to recover 80% of their stolen funds. The victim initially lost 1,807 liquid stakes in Ether (ETH), valued at nearly $7 million, due to a sophisticated phishing attack by the Inferno Drainer group. The group exploited a vulnerability in Ethereum permits, which allowed them to obtain wallet signatures from phishing websites.
According to Yu Xian, co-founder of blockchain analytics firm SlowMist, the attacker surprisingly returned most of the stolen funds on May 26. “Yesterday, the old phishing group Inferno Drainer used the permit offline authorization signature to phish nearly $7 million in ETH re-staked assets from a user,” Xian wrote. “Today, they actually got a refund, which is really rare.”
A separate social media post by Scam Sniffer confirmed that the victim reclaimed 1,445 ETH, which is roughly 80% of the stolen funds. The attacker kept the remaining funds as a bounty. This incident underscores the importance of vigilance and security in managing digital assets. Blockchain security expert ZachXBT criticized the victim for repeated carelessness, pointing out that they had been phished last year for $638,000 as well.
“How did you get phished last year for $638K and then again this year for $6.9M? Some people are just careless with their assets,” ZachXBT remarked, emphasizing the need for better security practices among crypto users.
Argentina Collaborates with El Salvador on Bitcoin Adoption
In an effort to boost its understanding and implementation of cryptocurrency, Argentina is collaborating with El Salvador to learn from its pioneering experience with Bitcoin adoption. El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender. This bold move has garnered global attention and provides valuable insights for other nations exploring crypto adoption.
Argentina’s National Securities Commission (CNV) recently held a meeting with El Salvador’s National Commission of Digital Assets (CNAD) to discuss cryptocurrency adoption and regulation. Key officials present at the meeting on May 23 included CNV president Roberto Silva, CNV vice president Patricia Boedo, and CNAD president Juan Carlos Reyes. They exchanged views on cryptocurrency use in global economies, focusing particularly on El Salvador’s Bitcoin experience.
Roberto Silva expressed Argentina’s keen interest in understanding the regulatory and economic impacts of Bitcoin adoption. “El Salvador’s experience provides a unique case study on the potential benefits and challenges of integrating Bitcoin into a national economy,” Silva stated.
In late 2023, Argentina’s foreign affairs minister, Diana Mondino, revealed that the government was preparing a decree to legalize the use of Bitcoin and other cryptocurrencies for payments under specific conditions. This move is part of Argentina’s broader strategy to embrace digital currencies and modernize its financial system.
Speculation on Caitlyn Jenner’s X Account Compromise
Recent events in the crypto world have sparked speculation over the security of prominent figures' social media accounts. American media personality Caitlyn Jenner’s X (formerly Twitter) account is suspected to have been compromised after it posted about a memecoin named “JENNER.” This incident is part of a troubling trend where the X accounts of industry influencers and celebrities are being hacked to promote various cryptocurrencies.
Over the weekend, several high-profile X accounts were suspected of being hacked, including that of Gigantic-Cassocked-Rebirth (GCR), a pseudonymous cryptocurrency investor known for his contrarian trades. GCR confirmed that his account was compromised, adding to the growing list of influencers and celebrities affected by these hacks.
The compromised accounts were used to shill a variety of cryptocurrencies, including Luna2 and ORDI, as well as celebrity-inspired memecoins like “JENNER.” These incidents highlight the ongoing cybersecurity challenges in the crypto space, particularly the need for robust account protection measures.
The crypto community is urged to be vigilant and skeptical of sudden endorsements of cryptocurrencies by celebrities or influencers, especially when these endorsements appear out of character or without prior context.
The dynamic world of cryptocurrency continues to evolve, presenting both opportunities and challenges. From the recovery of stolen Ethereum funds and international collaborations on crypto adoption to the cybersecurity issues faced by prominent figures, staying informed and vigilant is crucial for all participants in the crypto ecosystem. As these stories unfold, they remind us of the importance of security, education, and proactive measures in navigating the complex landscape of digital assets.
(COINTELEGRAPH, 2024)