18 Jun 2025, 13:50

Nobitex Exploit: Massive $48.65M Attack Hits Iranian Crypto Exchange on TRON Network

BitcoinWorld Nobitex Exploit: Massive $48.65M Attack Hits Iranian Crypto Exchange on TRON Network The world of cryptocurrency, while offering exciting opportunities, is unfortunately no stranger to security breaches. The latest incident shaking the market involves Nobitex, a prominent Iranian cryptocurrency exchange. Reports have surfaced detailing a significant Nobitex exploit on the TRON (TRX) Network, resulting in substantial financial losses. This event serves as a stark reminder of the persistent security challenges within the digital asset space. Understanding the Scope of the Nobitex Exploit According to on-chain detective ZachXBT, who shared details on Telegram, the Nobitex exploit led to estimated total losses of approximately $48.65 million. This figure represents a significant amount of value compromised from the exchange’s holdings or user funds held on the platform. Details emerging about the attack point to the use of a vanity address by the attacker. ZachXBT specifically noted the use of an address beginning with ‘TKFuck’, a tactic sometimes employed by malicious actors, potentially to taunt or simply for recognition. While the exact method of the exploit is still under investigation or not fully public, the outcome is clear: a large-scale compromise affecting a major regional exchange. The TRON Network Attack Context The incident specifically occurred on the TRON network attack . TRON is a popular blockchain platform known for its focus on decentralized applications and content sharing. While the exploit targeted Nobitex’s operations or wallets connected to the TRON network, it’s important to distinguish between an attack on the blockchain protocol itself and an attack on an entity operating on the network, like an exchange. In many exchange hacks, the vulnerability lies not within the underlying blockchain technology (like TRON, Bitcoin, or Ethereum) but rather in the exchange’s own systems, such as: Weaknesses in hot or cold wallet management Vulnerabilities in smart contracts used by the exchange Compromised private keys Insufficient security protocols or internal errors Phishing attacks targeting employees Further analysis will likely clarify if the vulnerability was specific to how Nobitex interacted with the TRON network or a more general security lapse within the exchange’s infrastructure that happened to impact TRON-based assets. Broader Implications of a Crypto Exchange Hack A crypto exchange hack like the one experienced by Nobitex has ripple effects far beyond the immediate financial loss. These incidents severely impact user trust, which is a critical component for any financial platform, especially in the nascent crypto industry. When an exchange is compromised, users worry about the safety of their own funds and may withdraw assets, potentially causing liquidity issues for the exchange. Other implications include: Reputational Damage: An exchange’s reputation can be severely tarnished, making it difficult to attract new users or retain existing ones. Regulatory Scrutiny: Security breaches often attract attention from financial regulators, potentially leading to investigations, fines, or stricter compliance requirements. Market Volatility: Large hacks can sometimes cause temporary dips in the prices of affected cryptocurrencies or the broader market due to panic selling or negative sentiment. Increased Security Costs: Exchanges are forced to invest heavily in improving their security infrastructure after an attack, which can be costly. For Nobitex, being the largest exchange in Iran, this event carries particular weight for the local crypto community and its confidence in digital asset platforms. Enhancing Cryptocurrency Security Measures In the wake of incidents like the Nobitex exploit , the focus inevitably shifts to enhancing cryptocurrency security . Both exchanges and individual users play a crucial role in mitigating risks. For exchanges, robust security practices are non-negotiable: Cold Storage: Keeping a vast majority of user funds in offline cold storage wallets, inaccessible from the internet. Multi-Signature Wallets: Requiring multiple private keys to authorize transactions, preventing a single point of failure. Regular Security Audits: Conducting frequent third-party audits of smart contracts, infrastructure, and internal processes. Intrusion Detection Systems: Implementing sophisticated systems to monitor for suspicious activity. Employee Training: Educating staff on phishing risks and secure operational procedures. For users, personal security is paramount: Enable 2FA: Always use Two-Factor Authentication (2FA), preferably hardware-based, on your exchange accounts. Strong Passwords: Use unique, complex passwords and consider a password manager. Be Wary of Phishing: Verify the legitimacy of emails and websites before entering login details. Withdraw to Personal Wallets: For long-term storage, withdraw significant amounts of crypto from exchanges to hardware or software wallets where you control the private keys. Research Exchanges: Use reputable exchanges with a strong security track record. The Challenge of Digital Asset Loss and Recovery The estimated $48.65 million figure represents a significant digital asset loss . Recovering stolen cryptocurrency is incredibly challenging. While blockchain transactions are transparent and traceable, identifying and apprehending the individuals behind the wallet addresses used in exploits requires significant effort, often involving international cooperation between law enforcement and blockchain analytics firms. Trackers like ZachXBT play a vital role in following the flow of stolen funds across various networks and exchanges, making it harder for attackers to cash out undetected. However, once funds are laundered through mixers, decentralized exchanges (DEXs), or moved across multiple chains, they can become exceedingly difficult to trace back to an identifiable entity. For users affected by the Nobitex exploit, the path to recovery is uncertain. Exchanges sometimes use insurance funds or their own reserves to compensate users for losses, but this is not always guaranteed and depends heavily on the exchange’s policies and financial health. Conclusion: A Persistent Threat The Nobitex exploit on the TRON Network is another unfortunate chapter in the ongoing struggle for security in the cryptocurrency space. The estimated $48.65 million digital asset loss highlights the lucrative target that exchanges represent for malicious actors. This crypto exchange hack underscores the critical need for exchanges to continuously strengthen their cryptocurrency security measures and for users to adopt vigilant personal security practices. While the transparency of the TRON network allows for tracking, the recovery of funds after a large-scale TRON network attack targeting an exchange remains a complex challenge. As the industry matures, improving security infrastructure and user education will be paramount to building a safer ecosystem for everyone. To learn more about the latest crypto market security trends, explore our articles on key developments shaping cryptocurrency security protocols and preventing digital asset loss. This post Nobitex Exploit: Massive $48.65M Attack Hits Iranian Crypto Exchange on TRON Network first appeared on BitcoinWorld and is written by Editorial Team

18 Jun 2025, 13:33

Invesco Names JP Morgan Veteran to Lead $1.6B Crypto Strategy Amid Bitcoin Boom

The post Invesco Names JP Morgan Veteran to Lead $1.6B Crypto Strategy Amid Bitcoin Boom appeared first on Coinpedia Fintech News Invesco, with $1.9 trillion in assets under management, is making a serious move into the crypto space. The firm has appointed Kathleen Wrynn, a seasoned JP Morgan executive, to lead its $1.6 billion cryptocurrency division. The hire comes at a time when institutional interest in digital assets is gaining strong momentum. Invesco’s decision reflects a clear intention to be a major player in the future of crypto investing. Crypto’s New Leader: Wrynn Assumes Command As traditional finance continues warming up to crypto, Invesco’s move to bring in Wrynn is more than a leadership shuffle. It signals a strategic push to stay ahead. Wrynn brings a strong track record from her years at JP Morgan. She now leads Invesco’s digital asset strategy, which includes managing three Blockchain and Crypto Ecosystem ETFs, along with three Global Spot Cryptocurrency ETFs. At the Morgan Stanley U.S. Financials Conference, an Invesco spokesperson detailed her mission: “She will work closely with the global technology organization to identify and lead opportunities to leverage blockchain technology, such as tokenizing funds and integrating digital assets into investment strategies.” This appointment shows Invesco’s commitment to innovation in the crypto space. Institutional Crypto Rise: Invesco Joins the Trend Invesco’s action corresponds with a Coinbase report indicating that 86% of institutional investors are either involved in or intend to enter crypto by 2025. This encouraging indication in adoption implies Wall Street’s complete acceptance of digital assets, making way for quicker Bitcoin expansion and limited supply. Invesco’s $1.6 billion cryptocurrency operation enables it to take advantage of this trend, cementing its position as a frontrunner in the changing financial environment. Wrynn’s guidance might be crucial in steering through this new age. Invesco Bets Big on Crypto’s Future As institutional interest in crypto grows, Invesco’s strategic hire of Wrynn indicates confidence in Bitcoin’s future. Her expertise and Invesco’s resources could drive significant advancements, shaping the next chapter of digital asset investment.

18 Jun 2025, 13:21

Paris-Based Technology Firm The Blockchain Group Announces It Bought a Large Number of Bitcoins! Here Are the Details

The Blockchain Group (ALTBG), a Paris-based technology firm that positions itself as Europe’s first Bitcoin treasury company, has announced that it has added 182 more Bitcoins to its portfolio. The company’s latest purchase was worth around 17 million euros ($19.6 million). The Blockchain Group Continues Bitcoin Purchases: 182 More BTC Added, Bringing Total Value Over $170 Million With the latest purchase, the company's total Bitcoin holdings reached 1,653 BTC, with a total market value of approximately 149 million euros (approximately $171 million). The company also drew attention with its 1,173% “BTC yield” so far in 2025. This ratio is calculated by dividing the total amount of Bitcoin held by the company’s fully diluted share count. This metric is used to show how effective companies’ Bitcoin acquisition strategies are. For comparison, MicroStrategy (MSTR), the world’s largest institutional Bitcoin holder, reported a 19.1% BTC yield since the beginning of the year, while Japan-based Metaplanet (3350) reported a 266.07% yield and US-based Semler Scientific (SMLR) reported a 26.7% yield. Bitcoin Purchases Funded by Bond and Stock Proceeds The Bitcoin purchase was financed by a convertible bond issue worth more than €18 million, with investors including UTXO Management, Moonlight Capital, Ludovic Chechin-Laurans and asset manager TOBAM. The company also raised an additional €1.6 million by converting its stock purchase warrants into approximately 3 million new shares, and used this proceeds to purchase Bitcoin. The Blockchain Group’s Bitcoin purchases were made through Swissquote Bank Europe and Banque Delubac, while the crypto assets are being held in custody by Switzerland-based digital asset infrastructure provider Taurus. The company's average cost of Bitcoin purchases is around 90,000 euros (about $103,000). Following the news of the acquisition, the company's shares were traded on the Euronext Paris exchange in the morning hours, down 2.1% at 4,895 euros, while France's CAC 40 index remained flat. The Blockchain Group’s aggressive Bitcoin strategy makes it one of the prominent players in institutional crypto asset management in Europe. *This is not investment advice. Continue Reading: Paris-Based Technology Firm The Blockchain Group Announces It Bought a Large Number of Bitcoins! Here Are the Details

18 Jun 2025, 13:14

Galxe Wins World Future Award as Best Web3 Growth Platform

New York, United States, June 18th, 2025, Chainwire Recognition highlights Galxe’s leadership in scaling secure, data-driven growth across web3 ecosystems. Galxe , the crypto industry’s leading growth hub known for Galxe Quest, Passport, and recently launched InfoFi product Starboard, has been awarded “Best Web3 Growth Platform” by the 2025 World Future Awards – an accolade reserved for breakthrough technologies shaping the future of human and digital development. With previous World Future Awards given to brands including Dyson, Netflix, Amazon, OpenSea, Coinbase, and Crypto.com, Galxe joins a prestigious group of pioneers recognized for their contribution to advancing technology. According to the Awards Board, Galxe stood out for its “pioneering role in redefining how web3 ecosystems scale.” It added that, not only is the web3 growth platform “enabling seamless and secure user experiences through AI, blockchain, and zero-knowledge technology,” but that Galxe is “also laying the foundation for a new generation of decentralized engagement, marketing, and identity infrastructure.” The Board also commended Galxe’s “commitment to building privacy-first, sybil attack-resistant systems that empower businesses with scalable, secure growth structures.” Commenting on the award win, Galxe’s co-founder Charles Wayn, said: “We’re honored to be recognized by the World Future Awards. To date, we have onboarded over 34 million people into the web3 ecosystem and have worked with over 7,000 brands, making us a foundational layer for the growth of blockchain projects. Whether it’s through flagship tools like Quest or our newest growth and analytics solution, Starboard , Galxe equips teams with a complete, all-in-one growth stack to scale smarter and faster.” Users can read the exclusive Q&A with Charles Wayn and the World Future Awards: https://worldfutureawards.com/exclusive-interview-with-charles-wayn-galxe-web3-growth/ Explore Galxe’s Winners Profile on the World Future Awards site: https://worldfutureawards.com/winner/galxe-web3-growth-platform/ About Galxe Galxe is web3’s leading growth platform, trusted by over 34 million users and more than 7,000 brands globally. Built on Gravity—Galxe’s ultra high-performance Layer 1 blockchain—the Galxe Platform unifies onboarding, identity verification, automation, and user engagement into one seamless experience. Industry leaders like Coinbase, Polygon, and Optimism rely on the Galxe Platform to grow and activate their communities and drive engagement across their ecosystems. By harmonizing fragmented tools into a single, unified web3 growth engine, Galxe enables industry leaders to build smarter, scale faster, and engage more effectively. Users can learn more at galxe.com . About The World Future Awards World Future Awards is a global award that selects, recognizes, celebrates, and promotes the best products, software, and services that will transform the global economy and define the landscape of the future. The organization researches inventions across all categories, including technology, beauty, health care, food, home, and entertainment, that are making the world better, smarter, or even a bit more fun. To learn more about the World Future Awards, users can visit https://worldfutureawards.com/awards/ Contact CEO Rebecca Jones Block3 PR [email protected]

18 Jun 2025, 13:10

Binance Alpha Spotlights TAG and JANITOR: Discovering Early Stage Crypto Gems

BitcoinWorld Binance Alpha Spotlights TAG and JANITOR: Discovering Early Stage Crypto Gems In the fast-paced world of cryptocurrency, staying ahead means keeping an eye on where innovation is brewing. Binance, a leading name in the industry, offers various avenues for users to explore the digital asset landscape. One such avenue is Binance Alpha , a platform integrated within the Binance Wallet designed to shine a light on promising, early-stage crypto projects before they potentially hit the main exchange. What is Binance Alpha and Why Does it Matter? Binance Alpha serves as a discovery layer, providing visibility to projects that are still in their nascent stages but have demonstrated potential through community activity and market interest. Think of it as an incubator or a spotlight for emerging tokens within the broader Binance ecosystem. It’s a space where users who are actively exploring new opportunities might find projects worth researching further. The significance of Binance Alpha lies in its connection to the world’s largest crypto exchange. While inclusion on Alpha is explicitly *not* a guarantee of a future listing on the main Binance exchange, it does signal that these projects have caught the attention of the platform’s research and discovery teams. For users, it offers a curated list of projects that have met certain preliminary criteria, saving them some legwork in sifting through countless new tokens. Key aspects of Binance Alpha: Part of the Binance Wallet infrastructure. Focuses on early stage crypto projects. Selection based on factors like community engagement and market trends. A discovery tool for users interested in emerging assets. Distinct from a main Binance exchange listing. Spotlight On: The TAG Token and JANITOR Token Additions According to reports circulating in crypto communities, specifically highlighted by the Telegram channel New Listings Feed, Binance Alpha has recently added two specific tokens to its showcase: the TAG token and the JANITOR token . These additions mean that users exploring the Binance Alpha section within their Binance Wallet might now see information related to TAG and JANITOR. While the original announcement is brief, it points to these projects having met Alpha’s internal criteria for inclusion at this stage. For holders or potential investors of the TAG token and JANITOR token , this visibility within the Binance ecosystem is a notable development, even if it doesn’t directly impact their liquidity or tradability on the main exchange. Details about TAG and JANITOR themselves are typically minimal in these early announcements, encouraging interested users to perform their own in-depth research into the projects’ whitepapers, teams, technology, and community traction. How Are Early Stage Crypto Projects Selected for Binance Alpha? The selection process for Binance Alpha is not as stringent or public as the process for a full Binance exchange listing. However, the core criteria mentioned typically revolve around: 1. Community Engagement: A strong, active, and growing community is often a key indicator of a project’s potential and resilience. This can be measured through activity on social media platforms, Telegram or Discord groups, forums, and the level of participation in project initiatives. 2. Market Trends Among Emerging Projects: Binance Alpha’s team likely monitors sectors and narratives gaining traction within the broader crypto market. Projects that align with these trends, whether it’s DeFi, NFTs, GameFi, specific Layer 1 or Layer 2 solutions, or other innovative use cases, might be considered if they show promise within their niche. These criteria highlight that Binance Alpha is looking for projects that have already built some momentum and have a clear direction, rather than completely unproven concepts. The inclusion of the TAG token and JANITOR token suggests they have demonstrated these qualities to some degree. Understanding Early Stage Crypto: High Potential, High Risk Investing in early stage crypto projects, whether discovered through platforms like Binance Alpha or elsewhere, comes with significant opportunities and risks. These projects are often in active development, with smaller market caps and potentially higher growth ceilings if they succeed. However, they also face substantial challenges: Execution Risk: Can the team deliver on their roadmap? Market Adoption Risk: Will the product or service gain traction and users? Competition: Are there other projects doing similar things better or faster? Liquidity Risk: It can be difficult to buy or sell large amounts of tokens without significantly impacting the price. Regulatory Uncertainty: The regulatory landscape for crypto is still evolving. Scam Risk: Unfortunately, the early-stage environment can attract fraudulent projects. This is why the disclaimer that inclusion on Binance Alpha does not guarantee a main exchange listing is crucial. A main listing involves a much deeper dive into the project’s fundamentals, legal standing, security, and long-term viability. Binance Alpha is more about initial discovery and visibility for projects that show early signs of promise. What Does This Mean for Users and the TAG/JANITOR Communities? For users of the Binance Wallet and those following new crypto projects, the addition of the TAG token and JANITOR token to Binance Alpha provides a potential signal. It suggests these projects have reached a certain level of development and community interest to be recognized by a platform associated with Binance. For the communities behind TAG and JANITOR, this is positive news as it increases their visibility within a major crypto ecosystem. It could potentially attract new users and attention to their projects, fueling further community growth and development. However, it is absolutely critical for anyone encountering these projects via Binance Alpha to conduct thorough due diligence. Research the project’s goals, technology, team, tokenomics, and community activity independently. Do not view the Binance Alpha listing as an endorsement or a guarantee of future success or a main Binance listing. Looking Ahead: The Path from Early Stage to Mainstream? While the addition to Binance Alpha is a positive step for the TAG token and JANITOR token , their journey is far from over. The path to becoming a widely adopted or listed asset on major exchanges is long and challenging. Continued development, community building, achieving milestones, and adapting to the market are all necessary steps. Platforms like Binance Alpha play a valuable role in bridging the gap between truly unknown projects and potential mainstream recognition. They offer a structured way for promising early stage crypto projects to gain initial exposure within a trusted environment, while providing users with curated options for discovery within their Binance Wallet . The crypto market is dynamic, and keeping an eye on platforms like Binance Alpha can offer insights into emerging trends and projects gaining traction. Just remember to approach any early-stage project with a mindset of thorough research and awareness of the inherent risks. Conclusion: Binance Alpha’s Growing Showcase The inclusion of the TAG token and JANITOR token on Binance Alpha highlights the platform’s ongoing role in identifying and showcasing early stage crypto projects. This move, reported via community channels, brings increased visibility to these specific assets within the Binance Wallet environment, based on their community engagement and alignment with market trends. While a positive development for the projects and a discovery opportunity for users, it’s crucial to reiterate that being on Binance Alpha does not equate to a future listing on the main Binance exchange. Users interested in these or other early-stage projects should always conduct their own comprehensive research (DYOR – Do Your Own Research) to understand the potential benefits and significant risks involved. To learn more about the latest crypto market trends and emerging projects, explore our articles on key developments shaping the altcoin landscape and institutional adoption. This post Binance Alpha Spotlights TAG and JANITOR: Discovering Early Stage Crypto Gems first appeared on BitcoinWorld and is written by Editorial Team

18 Jun 2025, 13:10

Healthcare Firm Prenetics Uses Kraken to Kickoff Bitcoin Treasury

Prenetics Global Limited (NASDAQ: PRE) is the latest firm in the healthcare space to copy MicroStrategy’s $40 billion bitcoin treasury strategy, having acquired its first $20 million BTC investment, with help from global crypto exchange Kraken. There is a surge of bitcoin treasury companies that focus on accumulating bitcoin and following strategies similar to Strategy. Although the Prenetics acquisition is small by comparison to firms spending hundreds of millions of dollars on BTC, the firm said it has board approval to substantially increase its bitcoin holdings and aims to become one of the largest healthcare corporate bitcoin holders globally, in a press statement on Wednesday. “What excites me most is not just Bitcoin as a treasury asset, but the convergence we're witnessing between healthcare innovation and blockchain technology,” said Danny Yeung, CEO of Prenetics. “We're at the dawn of a new era where genomics, personalized medicine, and digital assets will intersect in ways that could revolutionize how we approach human health, longevity and wealth.” Earlier this week, H100 Group (H100), a Swedish health-technology company, announced a 750 million kronor ($79 million) transaction to support its long-term bitcoin BTC treasury strategy. Prenetics also announced the appointment of Andy Cheung, former COO of OKEx, to its Board of Directors. Read more: Trump Media and Semler Scientific Could Be Cheapest Bitcoin Treasury Companies by This Metric