Crypto News Recap: Last Week of 2024
Vitalik Buterin Adopts Moo Deng with 88 ETH Zoo Donation
The last week of 2024 was as exciting as the rest of this milestone year for crypto acceptance, following Ethereum co-founder Vitalik Buterin’s decision to adopt viral internet sensation Moo Deng with an 88 Ether donation to the Thailand-based zoo.
Moo Deng, a pygmy hippopotamus that became a viral internet sensation, was adopted by Vitalik Buterin, one of the most famous cryptocurrency founders. Buterin, the co-founder of Ethereum, the world’s second-largest blockchain network, became the adoptive father of Moo Deng, Thailand’s Khao Kheow Open Zoo announced in a Dec. 26 X post:
"Thank you Vitalik Buterin for joining the Wildlife Sponsorship Program and adopting Moo Deng with a generous gift of 10,000,000 THB for her family!"
Buterin’s donation was met with excitement on social media, with many users praising his kindness and generosity.
In response to the announcement, Vitalik Buterin said he may donate even more than the current 88 Ether (ETH) or $292,000 to the zoo. This generous move by Buterin has set a precedent for others in the crypto community to follow suit and support wildlife conservation efforts.
James Howells Continues Legal Battle to Recover Lost BTC
Meanwhile, James Howells, an IT engineer from Newport, Wales, is fighting a high-stakes legal battle to recover a hard drive containing private keys to 8,000 Bitcoin worth about $773 million. The drive that was mistakenly disposed of in a landfill holds 2009-era Bitcoin (BTC) representing a fortune tied to the earliest days of the cryptocurrency market.
Howells is currently barred access by the Newport City Council due to its environmental permit. In an exclusive interview with Cointelegraph, Howells said the legal proceedings are ongoing and backed by a world-class legal team and advanced artificial intelligence technology trained in United Kingdom law.
Despite the estimated $773 million in holdings being thrown out in 2013, Howells remains optimistic and plans to compensate stakeholders, contribute to the crypto community, and potentially reinvest in blockchain projects if he recovers the lost BTC.
South Korea Sanctions 15 North Koreans for Crypto Heists
North Korean hackers are being pursued by governments worldwide that blame them for more than half of the value of cryptocurrency stolen during 2024. Hackers like the infamous Lazarus Group are prime suspects in some of the most notorious cyber thefts in Web3, including the $600 million Ronin network hack.
South Korea is the latest country to impose sanctions against 15 North Korean IT organization members and one related group. The sanctioned agents have allegedly procured funds for North Korea’s nuclear missile development program and the DPRK’s Munitions Industry Department through "overseas foreign currency-earning activities," according to a Dec. 26 news release by South Korea’s Ministry of Foreign Affairs.
Crypto Hacks Wipe Out $2.3B in 2024, Marking 40% YoY Surge
Cryptocurrency hackers in 2024 surpassed the previous year’s achievements, stealing more than $2.3 billion worth of crypto from the Web3 ecosystem, a concerning sign for the industry’s mainstream acceptance.
Crypto hacks saw a sharp uptick, driven by the appeal of increasing cryptocurrency valuations as Bitcoin (BTC) surpassed the $100,000 mark for the first time on December 24th. This surge in hacking activity highlights the need for improved security measures and awareness within the crypto community.
According to data from Chainalysis, the total value locked in DeFi has reached an all-time high of over $200 billion. This growth can be attributed to the increasing adoption of decentralized finance (DeFi) platforms and the rise of yield farming and liquidity mining.
DeFi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green. Of the top 100, the Bitget Token (BGB) rose over 81% as the week’s biggest winner, bolstered by the recent token merger between the previous Bitget Token (BGB) and Bitget Wallet Token (BWB).
The Virtuals Protocol (VIRTUAL) coin was the week’s second-biggest gainer, up over 51% during the past week. This growth reflects the increasing popularity of DeFi platforms and the growing demand for decentralized finance solutions.
Conclusion
The last week of 2024 has been marked by exciting developments in the crypto space, from Vitalik Buterin’s adoption of Moo Deng to the continued efforts of James Howells to recover lost BTC. The surge in hacking activity highlights the need for improved security measures and awareness within the crypto community.
As we look ahead to the new year, it will be interesting to see how these trends continue to shape the future of cryptocurrency and DeFi. With the increasing adoption of decentralized finance platforms and the rise of yield farming and liquidity mining, one thing is clear: the world of crypto is rapidly evolving, and there’s no better time to get involved.
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