hodler

15 Apr 2026, 15:17

Why Morgan Stanley's CFO thinks tokenization is the next big step for its multi-trillion wealth business

Morgan Stanley CFO Sharon Yeshaya says the bank is eyeing a "tokenized world" where blockchain technology allows client assets and liabilities to move more efficiently across its wealth management platform.

15 Apr 2026, 13:45

Bitcoin’s Quantum Defense: BIP-361 Proposal Unveils Critical Plan to Secure the Network

BitcoinWorld Bitcoin’s Quantum Defense: BIP-361 Proposal Unveils Critical Plan to Secure the Network In a pivotal move for global digital finance, a new technical proposal aims to fortify the Bitcoin network against a looming technological frontier. The BIP-361 proposal, introduced to the Bitcoin developer community, outlines a strategic defense against the potential threat of quantum computing. This initiative calls for the gradual phasing out of current cryptographic signature methods, marking a significant evolution in the protocol’s foundational security. The transition plan, reportedly scheduled to begin around 2029, represents one of the most forward-looking upgrades in Bitcoin’s history. Understanding the BIP-361 Quantum Defense Proposal The Bitcoin Improvement Proposal (BIP) 361 directly addresses a vulnerability that cryptographers have monitored for years. Currently, Bitcoin relies on the Elliptic Curve Digital Signature Algorithm (ECDSA) and its more recent counterpart, Schnorr signatures. These algorithms secure every transaction by proving ownership of private keys. However, theoretical advances in quantum computing suggest that sufficiently powerful machines could one day break these cryptographic schemes. Consequently, the BIP-361 proposal initiates a carefully planned migration to quantum-resistant algorithms. This process would not be an abrupt change. Instead, the plan involves an initial restriction on new transactions sent to vulnerable, non-upgraded addresses. Following this restriction, the network would implement a multi-year grace period. This grace period allows users ample time to move their assets from old addresses to new, quantum-secure ones. Ultimately, assets remaining in vulnerable addresses after the grace period would become invalid. This staged approach prioritizes network security while minimizing disruption for users. The Cryptographic Foundation: ECDSA and the Quantum Threat To appreciate the necessity of BIP-361, one must understand the technology it seeks to replace. ECDSA is the cryptographic workhorse for both Bitcoin and Ethereum. It creates a digital signature using a private key, which anyone can verify with a corresponding public key without revealing the secret. The security of ECDSA rests on the extreme mathematical difficulty of deriving the private key from the public key, a problem known as the elliptic curve discrete logarithm problem. Quantum computers, however, leverage principles of quantum mechanics to solve specific mathematical problems exponentially faster than classical computers. Shor’s algorithm, a famous quantum algorithm, could theoretically solve the discrete logarithm problem that secures ECDSA. While a quantum computer capable of this feat does not exist today, its potential development drives proactive security measures. The goal of BIP-361 is to transition the network before such a machine becomes operational, thereby protecting trillions of dollars in value. Expert Perspectives on the Quantum Timeline Cryptography experts consistently emphasize the distinction between theoretical risk and immediate danger. Most researchers estimate that a quantum computer powerful enough to threaten ECDSA is likely a decade or more away. This timeline provides a crucial window for preparation. The proposed 2029 start date for BIP-361’s activation aligns with conservative estimates within the academic community. Furthermore, the multi-year grace period embedded in the proposal accounts for the slow pace of user adoption and the complexity of upgrading global financial infrastructure. Industry analysts note that this proactive stance offers Bitcoin a significant advantage. Unlike traditional financial systems with centralized upgrade paths, Bitcoin’s decentralized nature requires broad consensus for such a fundamental change. Starting the discussion and planning now ensures that when a quantum threat materializes, the network will be prepared. This forward-thinking approach enhances Bitcoin’s long-term credibility as a robust store of value. Comparative Analysis: Bitcoin’s Path Versus Other Networks Bitcoin is not the only blockchain considering quantum resistance. Several newer projects have built quantum-resistant algorithms into their foundation from the start. However, Bitcoin’s challenge is unique due to its massive, established user base and immutable transaction history. The BIP-361 proposal must safeguard existing funds while enabling a secure future. This requires a backward-compatible transition strategy, which is far more complex than building a new system from scratch. The table below outlines key differences between the current state and the post-transition goal: Feature Current System (Pre-BIP-361) Target System (Post-Transition) Primary Signature Algorithm ECDSA / Schnorr Quantum-Resistant Algorithm (TBD) Quantum Attack Vulnerability Theoretically Vulnerable Designed to Be Resistant Address Format Legacy (e.g., 1…), SegWit (bc1q…) New, Quantum-Secure Format User Action Required None Move funds to new address type Activation Timeline N/A Proposed start ~2029 This transition highlights Bitcoin’s evolutionary capacity. The network has successfully navigated major upgrades before, such as the adoption of Segregated Witness (SegWit). Each upgrade required extensive technical debate and community coordination. The BIP-361 proposal follows this established tradition of rigorous, consensus-driven development. The Implementation Roadmap and Potential Impacts The reported roadmap for BIP-361 involves several clear phases. First, developers must agree on and standardize a new quantum-resistant signature algorithm. Candidates include lattice-based, hash-based, or multivariate cryptography. Next, the Bitcoin Core software and other node implementations would need to support the new standard through a soft fork, ensuring network consensus. Finally, wallet providers, exchanges, and custody services must update their software to generate and recognize the new address types. The impacts of this upgrade will be widespread: For Users: Individuals will need to move their Bitcoin from old addresses to new, quantum-resistant addresses during the grace period. This action will be similar to past upgrades. For Businesses: Exchanges, payment processors, and financial services must update their systems to handle new transaction types and educate their customers. For the Network: Successfully navigating this transition would represent a monumental achievement in decentralized governance and long-term planning, potentially increasing institutional confidence. For Security: The upgrade would neutralize a major future threat, securing Bitcoin’s position for the coming decades. Critically, the proposal aims to make this transition as seamless as possible. The long lead time and grace period are central to this goal. Developers understand that user experience and security are equally important for a network that serves as global digital infrastructure. Conclusion The BIP-361 proposal marks a critical juncture in Bitcoin’s development, shifting focus from present-day challenges to future-proof security. By proactively addressing the quantum computing threat, the Bitcoin community demonstrates its commitment to preserving the network’s integrity as a decentralized financial system. This planned, gradual transition from ECDSA to quantum-resistant cryptography underscores the sophisticated and resilient nature of Bitcoin’s open-source development model. While the technical work and community consensus-building will be substantial, the successful implementation of this quantum defense plan would secure Bitcoin’s foundational value proposition for generations to come. FAQs Q1: What is the main goal of the BIP-361 proposal? The primary goal of BIP-361 is to protect the Bitcoin network from the future threat of quantum computing by phasing out the currently used ECDSA and Schnorr signature algorithms and replacing them with quantum-resistant cryptographic standards. Q2: Do I need to do anything with my Bitcoin right now because of this proposal? No, immediate action is not required. The proposal outlines a transition starting around 2029, followed by a grace period of several years. Users will have ample time to move their funds to new, secure addresses when wallet software supports the upgrade. Q3: Is quantum computing an immediate threat to Bitcoin today? No, it is not an immediate threat. Experts consensus suggests a capable quantum computer is likely years or decades away. BIP-361 is a proactive, preventative measure to ensure Bitcoin’s security long before such technology becomes a reality. Q4: How does this proposal affect other cryptocurrencies like Ethereum? Ethereum also uses ECDSA and faces the same theoretical quantum threat. While BIP-361 is specific to Bitcoin, its discussion and potential implementation will likely influence research and planning across the entire cryptocurrency industry. Q5: What happens to Bitcoin in old addresses after the grace period? According to the proposal’s reported details, Bitcoin held in addresses that use the old, vulnerable signature scheme after the multi-year grace period would become invalid and unspendable. This mechanism incentivizes users to migrate to the new, secure system. This post Bitcoin’s Quantum Defense: BIP-361 Proposal Unveils Critical Plan to Secure the Network first appeared on BitcoinWorld .

15 Apr 2026, 13:35

Tokenmaxxing Debate Ignites: Reid Hoffman’s Critical Endorsement of AI Tracking Metrics

BitcoinWorld Tokenmaxxing Debate Ignites: Reid Hoffman’s Critical Endorsement of AI Tracking Metrics SAN FRANCISCO, CA – April 30, 2026 – The Silicon Valley practice of ‘tokenmaxxing’ has sparked intense debate following Meta’s controversial internal dashboard shutdown. Consequently, LinkedIn co-founder and prominent venture capitalist Reid Hoffman has now entered the fray, offering a nuanced endorsement of tracking AI token usage as a critical metric for corporate adaptation. This development highlights a fundamental tension in modern workplaces striving to quantify the intangible benefits of artificial intelligence. Understanding the Tokenmaxxing Phenomenon An AI token represents the fundamental unit of data processing for large language models. Essentially, it is the currency of computation. When an employee prompts an AI tool, the system consumes tokens to understand and generate a response. Therefore, companies have begun monitoring aggregate token consumption. They use this data as a proxy for employee engagement with AI technologies. The term ‘tokenmaxxing’ borrows from Gen Z slang, where ‘maxxing’ signifies the optimization of a specific attribute. This trend follows similar concepts like ‘looksmaxxing’ for appearance or ‘sleepmaxxing’ for rest optimization. However, critics argue the metric is inherently flawed. Measuring token usage directly parallels tracking who spends the most money, not who creates the most value. A software engineer might use thousands of tokens debugging code, while a strategist might use far fewer for high-impact planning. This discrepancy has ignited a fierce debate about productivity measurement in the AI era. Reid Hoffman’s Strategic Perspective on AI Adoption During an interview at Semafor’s World Economy Summit, Reid Hoffman clarified his position. He advocated for widespread AI experimentation across all company functions. “You should be getting people at all different kinds of functions actually engaging and experimenting [with AI],” Hoffman stated. He specifically identified token usage tracking as a valuable, though imperfect, dashboard metric. Hoffman emphasized the need to contextualize the raw data. For instance, high token usage could indicate productive innovation or merely random exploration. Hoffman’s advice extends beyond simple measurement. He proposes embedding AI strategy across the entire organizational fabric. Furthermore, he recommends instituting regular check-ins. These sessions would allow teams to share successful AI applications and learn from failed experiments collectively. This approach fosters a culture of continuous learning and adaptation. The Meta Precedent and Industry Implications The debate gained public traction after The Wall Street Journal reported on Meta’s internal ‘tokenmaxxing’ leaderboard in April 2026. The dashboard, which ranked employees by AI token consumption, was subsequently shut down. Commentators like @johncoogan suggested this move revealed less about poor incentives and more about Meta’s strategic direction. He implied it signaled a push towards greater vertical integration with their AI infrastructure, possibly through projects like MSL. This incident underscores a critical challenge for tech leaders. They must balance encouraging AI adoption with avoiding perverse incentives. A leaderboard might spur usage but could also encourage wasteful or superficial interactions with AI tools just to climb the ranks. Quantifying the Intangible: The Productivity Paradox The core of the tokenmaxxing debate centers on a classic management problem: quantifying knowledge work. Proponents argue that in the absence of perfect metrics, token usage provides a tangible, data-driven starting point. It signals who is actively integrating new tools into their workflow. Conversely, opponents warn it creates a vanity metric. Employees might prioritize token volume over thoughtful, impactful application. Effective AI use often follows a pattern of trial and error. As Hoffman noted, “Some of it will be experiments that’ll fail — that’s fine.” Therefore, a culture that punishes high token usage from failed experiments may stifle innovation. The optimal approach likely combines quantitative tracking with qualitative review. Tokenmaxxing: Key Arguments For and Against Supporting Arguments Critical Arguments Provides a concrete metric for AI engagement Rewards volume over value, akin to measuring keystrokes Encourages experimentation with new tools May create wasteful spending on AI compute resources Helps identify early adopters and internal experts Could disadvantage roles that use AI strategically, not frequently Offers data for budgeting and resource allocation Raises significant employee privacy and surveillance concerns The Path Forward for Corporate AI Strategy Looking ahead, companies must develop more sophisticated frameworks. Token tracking is one component, not a comprehensive solution. Successful strategies will likely include: Multi-metric dashboards: Combining token data with project outcomes and peer reviews. Structured sharing forums: Implementing Hoffman’s suggested weekly check-ins to disseminate learnings. Sandbox environments: Allowing for low-cost experimentation without inflating production token costs. Ethical guidelines: Establishing clear policies on AI use monitoring to maintain trust. The transition to AI-augmented work is still in its infancy. Metrics and management practices will inevitably evolve. The current debate, amplified by figures like Reid Hoffman, is a necessary growing pain. It forces organizations to confront how they value and steer technological adoption. Conclusion The tokenmaxxing debate reveals the complex journey of integrating artificial intelligence into the corporate mainstream. Reid Hoffman’s measured support for tracking AI token usage provides a pragmatic, though cautious, blueprint. It acknowledges the need for data while warning against its blind worship. Ultimately, the companies that thrive will be those that measure not just how much AI is used, but how wisely it is applied. The goal is not to max out tokens, but to max out insight, efficiency, and innovation. FAQs Q1: What exactly is an AI token? An AI token is the basic unit of data processed by a large language model. It can represent a word, part of a word, or a character. AI services use token consumption to measure usage and calculate costs. Q2: Why is tracking token usage called ‘tokenmaxxing’? The term combines ‘token’ with ‘maxxing,’ popular Gen Z slang for optimizing something to its maximum potential (e.g., looksmaxxing). It refers to the practice of optimizing or maximizing employee AI token usage as a metric. Q3: What was Reid Hoffman’s main argument in favor of tokenmaxxing? Hoffman argued that tracking token usage is a useful, if imperfect, dashboard metric. It helps companies gauge how widely and actively employees are experimenting with AI tools across different functions, which is crucial for organizational learning. Q4: What are the biggest criticisms of using tokenmaxxing as a productivity metric? The primary criticism is that it measures input volume, not output value. High token usage could indicate productive work, inefficient experimentation, or even “gaming” the system. It may unfairly compare different roles and discourage strategic, low-token applications of AI. Q5: How did Meta’s experience influence the tokenmaxxing debate? Meta’s reported use of an internal leaderboard based on token consumption, and its subsequent shutdown, brought the practice into public view. It served as a real-world case study, sparking discussion about the potential pitfalls and strategic reasons behind such tracking. This post Tokenmaxxing Debate Ignites: Reid Hoffman’s Critical Endorsement of AI Tracking Metrics first appeared on BitcoinWorld .

15 Apr 2026, 13:31

Ripple CEO Makes Fresh Statement About SWIFT, XRP Army Reacts

In a recent post on X, crypto commentator Xaif (@Xaif_Crypto) shared a video featuring Ripple CEO Brad Garlinghouse discussing SWIFT and the history of wire transfers. The clip shows Garlinghouse speaking on payment infrastructure and how legacy systems still shape global transactions today. Xaif highlighted the remarks as part of ongoing conversations around financial technology upgrades, noting that Ripple wants to replace the 150-year-old legacy payment rails with XRP. The post quickly circulated among the crypto community, focusing on payment infrastructure. Brad Garlinghouse at Fortune "A wire transfer? The word 'wire' comes from a telegram. SWIFT hasn't moved with the internet." We're replacing 150-year-old rails with XRP. The upgrade is happening. pic.twitter.com/4RN7JcjBEt — Xaif Crypto (@Xaif_Crypto) April 13, 2026 Garlinghouse on SWIFT and Legacy Infrastructure Brad Garlinghouse focused on the origins of the term wire transfer during the interview. He stated, “The expression wire transfer, the etymology of that is a telegram wire.” He added that SWIFT reflects older infrastructure that has not kept pace with modern digital systems. His remarks also highlighted how these outdated, long-standing systems continue to anchor global banking communication. He continued by pointing to how financial messaging systems lag behind internet-era communication tools. He said, “This is not technology that has moved with the internet and advancement of these technologies.” He compared payment silos to early internet platforms. He referenced AOL, CompuServe, and Prodigy to show how early networks limited communication across systems. The CEO explained that users could not send emails between platforms at that time. These examples illustrated the fragmentation that existed across early digital communication networks. This comparison helped explain the limitations in current legacy systems that have refused to move forward with technological advancement . Ripple Vision for Value Movement Garlinghouse described Ripple’s approach to cross-border payments. He said the company aims to “let value move the way information moves today.” His comments linked the current state of payments with the need for faster settlement systems. He positioned blockchain-based networks as part of this shift in financial infrastructure. Garlinghouse linked this objective to ongoing development in blockchain-based payment rails. The statement aligned with Ripple’s focus on efficiency in cross-border transactions. Xaif emphasized the contrast between legacy rails and modern blockchain solutions. The post reinforced interest in XRP as an asset designed to streamline value transfer across borders . A Financial System in Transition Garlinghouse also addressed competition in the payments sector. He noted that multiple networks operate in parallel, yet efficiency remains a central concern. His remarks show Ripple’s focus on improving settlement speed and reducing friction in global transfers . The remarks place current payment infrastructure under clear scrutiny while highlighting a continued push toward faster settlement systems. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CEO Makes Fresh Statement About SWIFT, XRP Army Reacts appeared first on Times Tabloid .

15 Apr 2026, 12:50

MSX Trading Volume Soars Past $30B, Unveils Epic First Anniversary Celebration

BitcoinWorld MSX Trading Volume Soars Past $30B, Unveils Epic First Anniversary Celebration In a landmark achievement for the decentralized finance sector, the real-world asset (RWA) tokenization platform MSX has officially surpassed $30 billion in cumulative trading volume. This milestone arrives precisely as the platform commemorates its first year of operation, announcing a significant anniversary event packed with user rewards. The rapid ascent of MSX underscores a growing institutional and retail appetite for blockchain-based representations of traditional assets. MSX Trading Volume Reaches a Monumental $30 Billion According to an official announcement from the platform, MSX recorded a cumulative trading volume exceeding $30 billion within its inaugural year. This figure represents the total value of all assets traded on its decentralized exchange infrastructure. Consequently, this volume milestone signals robust liquidity and active participation in its novel markets. The platform has concurrently attracted over 180,000 cumulative users, demonstrating substantial market adoption. Industry analysts often view trading volume as a critical health metric for any financial marketplace. For instance, high volume typically indicates strong user confidence, efficient price discovery, and reduced slippage for traders. Therefore, MSX’s $30 billion achievement positions it as a serious contender within the competitive RWA tokenization niche. This growth trajectory mirrors the broader expansion of the tokenized assets market, which several major financial institutions are now actively exploring. The Strategic Evolution of the RWA Tokenization Platform MSX did not achieve this volume in a vacuum. The platform has executed a deliberate and phased expansion of its feature set throughout the past year. Initially launching in beta, it has progressively introduced sophisticated financial instruments to its user base. A key development involved the testing phase for stock token perpetual futures, a complex derivative product that allows exposure to traditional equities without direct ownership. Subsequently, the platform underwent a comprehensive brand renewal, likely aimed at refining its market positioning and user experience. More recently, MSX introduced a pre-IPO section, enabling users to gain exposure to companies before they list on public stock exchanges. This feature directly bridges traditional venture capital opportunities with decentralized finance accessibility. Each of these strategic steps has contributed to enhancing platform utility and, by extension, its trading activity. Beta Launch: The initial phase allowed for controlled user onboarding and system stress-testing. Stock Token Perpetuals: Introduced leveraged trading on tokenized versions of major company stocks. Brand Renewal: A visual and communicative overhaul to establish a more professional market presence. Pre-IPO Section: Provides access to tokenized shares of late-stage private companies. Expert Analysis on the RWA Market Surge The success of platforms like MSX is not an isolated phenomenon. Financial technology experts point to a macro-trend of asset tokenization accelerating across global markets. Tokenizing real-world assets—such as real estate, commodities, or equities—on a blockchain can unlock fractional ownership, enhance liquidity for traditionally illiquid assets, and streamline settlement processes. Regulatory clarity in certain jurisdictions has also begun to foster a more conducive environment for these innovations. Evidence of this trend is visible in reports from firms like Boston Consulting Group, which project the tokenized asset market could grow into a multi-trillion-dollar industry within the decade. Platforms facilitating the trading of these tokens, therefore, act as essential infrastructure. MSX’s reported metrics, including its user base and volume, offer a tangible, early data point validating this broader hypothesis. Its focus on derivatives and pre-IPO assets also indicates a move up the value chain into more complex financial products. Announcing the First Anniversary Event and Rewards To celebrate this dual milestone of volume and longevity, MSX has organized a first-anniversary event scheduled from April 15 to April 24, 2024. The event is structured around four primary components designed to engage both existing and new users. Significantly, the total reward pool for the celebration is set at $35,000, distributed across various activities. Firstly, new user rewards aim to lower the barrier to entry for individuals exploring the platform. Secondly, a trading-based lottery will incentivize active participation on the exchange during the event period. Thirdly, a dedicated referral program encourages community-led growth. Notably, prizes extend beyond standard cryptocurrency rewards to include commemorative banknotes, adding a collectible element to the celebration. Participants can earn up to 3,000 USDT through these initiatives. Event Component Description Key Reward New User Rewards Incentives for users who create an account during the event Starter bonus in USDT Trading Lottery Lottery tickets earned based on trading volume Shares of the $35,000 pool Referral Program Rewards for inviting new users to the platform Commission-based USDT Commemorative Prizes Unique physical collectibles for select winners Limited-edition banknotes Conclusion The announcement that MSX trading volume has exceeded $30 billion marks a definitive moment for the RWA tokenization sector. It validates the platform’s strategic development and reflects the increasing convergence of traditional finance with decentralized technology. The accompanying anniversary event not only rewards the community that fueled this growth but also serves as a strategic tool for further expansion. As the landscape for real-world asset tokenization continues to evolve, the performance and innovations of platforms like MSX will provide critical insights into the future of global finance. FAQs Q1: What is MSX? MSX is a decentralized platform specializing in the tokenization and trading of real-world assets (RWAs), such as equities and pre-IPO shares, using blockchain technology. Q2: What does $30 billion in cumulative trading volume mean? It represents the total sum of the value of all buy and sell orders executed on the MSX platform since its launch one year ago, indicating high levels of user activity and liquidity. Q3: What are real-world asset (RWA) tokenization platforms? These are blockchain-based platforms that create digital tokens representing ownership in physical or traditional financial assets, like real estate or stocks, making them easier to trade and fractionally own. Q4: When is the MSX first-anniversary event? The event runs from 12:00 a.m. UTC on April 15, 2024, to 11:59 p.m. UTC on April 24, 2024. Q5: How can users participate in the anniversary rewards? Users can participate by signing up as new users, trading on the platform to enter the lottery, referring friends via the referral program, or a combination of these activities during the event dates. This post MSX Trading Volume Soars Past $30B, Unveils Epic First Anniversary Celebration first appeared on BitcoinWorld .

15 Apr 2026, 10:30

Obsidian Plugin Scam Targets Crypto Users with Malware

The malware is known as PHANTOMPULSE, and it uses blockchain-based infrastructure for resilient command and control. In a separate incident, Apple removed a fake Ledger Live app from its App Store after more than 50 users were scammed out of approximately $9.5 million. The app used a bait-and-switch tactic to trick users into revealing seed phrases. New Crypto Scam Uses Obsidian Crypto users are being urged to be very cautious after researchers uncovered a sophisticated new social engineering campaign that uses the popular note taking app Obsidian to deploy malware. According to a recent report by Elastic Security Labs, attackers are targeting people in the cryptocurrency and financial sectors through carefully orchestrated interactions on professional and messaging platforms. Execution chain diagram (Source: Elastic Security Labs) The campaign begins with scammers reaching out to potential victims on LinkedIn. They pose as representatives of a venture capital firm. These conversations are designed to look legitimate and often revolve around financial services, particularly cryptocurrency liquidity solutions. Once a level of trust is established, targets are directed to continue discussions on Telegram, where the attackers introduce the next phase of the scheme. Victims are then instructed to download and use Obsidian, which the attackers claim is part of their company’s internal system for accessing shared data. They are provided with login credentials to connect to a cloud hosted vault controlled by the attackers. This vault serves as the primary entry point for the attack. When the victim opens the vault in Obsidian, they are prompted to enable community plugin synchronization. This feature then allows third party plugins to be installed and run in the app. Obsidian menu to open a remote vault (Source: Elastic Security Labs) By enabling this feature, users unknowingly activate malicious plugins that execute code in the background. They deploy a previously undocumented remote access trojan known as PHANTOMPULSE. Once installed, the malware gives attackers extensive control over the victim’s device. It allows them to monitor activity, access sensitive data, and compromise cryptocurrency wallets. What makes this campaign especially concerning is its use of blockchain technology to maintain communication with infected devices. Instead of relying on traditional centralized servers, PHANTOMPULSE retrieves instructions through on-chain transaction data linked to specific wallets across multiple blockchain networks. This decentralized command and control approach ensures that the malware stays resilient and difficult to disrupt, even if parts of its infrastructure are taken offline. Because Obsidian’s plugin ecosystem is designed to allow flexibility and customization, attackers are able to exploit this functionality without even triggering common security alerts. Apple Removes Fake Ledger Wallet App Other apps are also being taken advantage of by cyber criminals. Apple recently confirmed that it removed a malicious app that impersonated the popular Ledger Live crypto wallet. This was done after a wave of scams that resulted in millions of dollars in losses for unsuspecting users. The fake app was distributed through the App Store, and managed to deceive more than 50 victims, who collectively lost approximately $9.5 million in digital assets. The fraudulent application was designed to closely mimic the legitimate Ledger Live interface. It managed to trick users into believing they were interacting with the official wallet software. Reviews warning that the Ledger Live app is fake (Source: Archive.ph ) According to Apple, the developer behind the app operates under the name “SAS Software Company,” and has since been removed from the App Store. The company revealed that the attackers employed a bait and switch tactic. This means that they initially presented the app as legitimate before later modifying its content to resemble Ledger’s official platform. Once installed, the fake app prompted users to enter their seed phrases, which are critical private keys used to access cryptocurrency wallets. By obtaining this information, attackers were able to gain full control over victims’ funds and transfer assets without the possibility of reversal. Blockchain investigator ZachXBT pointed out that a big portion of the stolen funds came from a small number of high value victims. One person reportedly lost more than $3 million in stablecoins, while others saw losses in assets like Bitcoin and Ethereum. Among the victims was American musician Garrett Dutton, who disclosed that he lost $420,000 worth of Bitcoin in the attack. Apple explained that bait and switch scams are not new to its platform, and revealed that it removed or rejected more than 17,000 apps in 2024 for engaging in similar deceptive practices.