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cryptocurrency industry
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- 1
Law firm Lowenstein Sandler has published its latest 'Crypto Brief', a regular update on legal and regulatory developments in the cryptocurrency industry. The series typically covers enforcement actions, policy changes and compliance issues affecting digital asset firms. No specific developments from this edition are detailed in the available information.
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North Korean operatives used LinkedIn and fake job interviews to trick a Binance engineer, according to Fortune reporting tied to a hack estimated at $6.3 billion. The story is drawing attention for showing how state-backed hackers exploit professional networking platforms to infiltrate crypto firms, with readers debating the scale of the losses and the growing threat of North Korean cyber operations against the cryptocurrency industry.
- 3Binance covers 90% of losses after $6.3bn hack●Crypto firm Binance covers 90% of losses after $6.3B hack
Crypto exchange Binance says it will compensate users for 90% of losses following a hack estimated at $6.3 billion, one of the largest thefts ever reported in the cryptocurrency industry. The exchange says it will absorb most of the damage itself rather than passing the full cost to affected customers. The scale of the breach and the unusual compensation arrangement are drawing wide attention and debate about security across the crypto sector.