A new virus is after your crypto as the market rises in value: top crypto and Web3 news for January 9

That day has come! Cryptocurrencies began to rise in value after a long period of stagnation. However, that is not all the news for today. Here is a short summary of the key events.

Crypto crime has halved

In 2022, hacking incidents resulted in losses of $3.777 billion, about 61% less than in 2021 ($9.795 billion). There were also ten security incidents in 2022 with losses in the hundreds of millions, four of them coming from interchain bridges. That’s the data in the SlowMist 2022 security report.

In addition, Tether blocked 250 ETH addresses; and Circle blocked 126 ETH addresses. A total of 1,233,129 ETH were deposited on TornadoCash, and 1,283,186 ETH were withdrawn. 

TornadoCash is a decentralized protocol that allows anonymous transactions on Ethereum and a number of other blockchains. Crypto fraudsters and hackers often use it to withdraw stolen funds.

Another is on the verge of a foul

Digital asset management firm Osprey Funds has laid off 15 employees. The company now consists of fewer than 10 employees, including four executives. This was reported by Yahoo Finance, citing sources. 

Bitcoin trust Osprey (OBTC), available from online brokers Fidelity, Charles Schwab, and TD Ameritrade, managed about $46.9 million in assets as of January 6.

All traces lead back to FTX again

The U.S. Justice Department seized more than 55 million shares of Robinhood (HOOD) worth $456 million, owned through a holding company by former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang. The shares were held in an account at the British brokerage firm ED&F Man.

American bank decides to quit crypto

Metropolitan Commercial Bank will end its cryptocurrency services because of “recent developments” in the digital asset industry. The decision follows a thorough review by the board and management and reflects recent developments in the crypto-asset industry, significant changes in the regulatory environment regarding banks’ involvement in crypto-asset-related businesses, and a strategic assessment of the business case. It said in an official statement.

Beware of Godfather

Germany’s Federal Financial Supervisory Authority (BaFin) released an official statement on January 9 warning consumers about the Godfather malware, which steals user data in banking and cryptocurrency applications.

BaFin emphasized that the new virus targets about 400 banking and cryptocurrency applications, including those operating in Germany. Godfather attacks users by displaying fake websites of common banking and cryptocurrency apps and stealing their login details.