The Shib News Recap: Friday

This Friday, The Shib Daily brings you the latest in cryptocurrency, focusing on the escalating security threats faced by investors and platforms alike. Key discussions revolve around how recent regulatory changes are reshaping the landscape for major exchanges, impacting their financial products and operational strategies. Apart from this, another intriguing headline involves TRON founder Justin Sun’s recent move of eating a $6.2-million banana on a live stream! Stay informed as we delve into these developments affecting the crypto market.

Reports indicate that North Korean hackers have stolen more than $1 billion in cryptocurrency through impersonation schemes. They disguise themselves as venture capitalists and tech support to access victims’ systems. At the Cyberwarcon conference, Microsoft experts highlighted the hackers’ advanced exploitation techniques. The hacking groups “Ruby Sleet” and “Sapphire Sleet” have been identified as key contributors to these operations.

In other security-related news, global crypto exchange XT.com has suspended all withdrawals following reports of a potential hack that led to $1.7 million in stolen funds. The exchange explained on Thursday that the suspension was due to “wallet upgrade and maintenance.” Security firm PeckShield reported evidence of a breach, which led XT.com to confirm they noticed unusual wallet activity. Withdrawals for certain tokens have now resumed but are still limited.

Coinbase users are frustrated as the platform will stop offering yields on USDC due to new EU regulations. The decision was announced via email, effective December 1, 2024. Paul Berg, CEO of Sablier, sarcastically commented on the situation, prompting criticism from Ripple’s David Schwartz over regulatory effects. Meanwhile, former Binance executives launched Schuman Financial to create a euro-pegged stablecoin.

Today’s edition of crypto’s Wild West brings us TRON founder Justin Sun’s consumption of the $6.2 million banana from Maurizio Cattelan’s Comedian artwork during a livestream. This performance highlighted his attempt to connect art with cryptocurrency. The banana first gained attention at Art Basel Miami in 2019, being sold for $120,000. Sun also expressed plans to buy 100,000 bananas from a New York vendor as a way to honor the artwork’s legacy.

Keep yourself informed about what’s new in the Shiba Inu community and the broader cryptocurrency ecosystem by listening to “The Shib and Tell,” the official podcast of The Shib available on Spotify. Also, make sure to subscribe to The Shib Daily on YouTube for a treasure trove of exclusive information and updates.

Malaya has positions in SHIB, ETH, USDT, MATIC, etc. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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