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The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.
In August 2014 security firms involved in the shutdown, Fox-IT and FireEye, created a portal, called Decrypt Cryptolocker, which allows any of the 500,000 victims to find the key to unlock their files. Victims need to submit an encrypted file without sensitive information, which allows the unlockers to deduce which encryption key was used.
In June 2018, South Korean exchange Coinrail was hacked, losing over $37M worth of crypto. [18] The hack worsened an already ongoing cryptocurrency selloff by an additional $42 billion. [19] On July 9, 2018, the exchange Bancor, whose code and fundraising had been subjects of controversy, had $23.5 million in cryptocurrency stolen. [20] [21]
In a single week in November 2022, FTX went from being one of the world's biggest and most trusted exchanges to a cautionary tale about the risk of crypto theft and loss. Its founder, Sam...
Crypto trading and mining has been banned in China since 2021. Run used bank cards issued by small rural commercial banks to buy cryptocurrencies through grey-market dealers, and capped each ...
Cryptojacking is the act of exploiting a computer to mine cryptocurrencies, often through websites, [1] [2] [3] against the user's will or while the user is unaware. [4] One notable piece of software used for cryptojacking was Coinhive, which was used in over two-thirds of cryptojacks before its March 2019 shutdown. [5]
The relationship between governments and cryptocurrencies has always been tense. In some countries, this has led to outright bans on buying, owning, and trading.
Hack [ edit ] On 18 July 2024, $234.9 million worth of crypto assets have been taken out of the exchange and sent to a new address by North Korean hackers belonging to Lazarus Group .