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In 2023, Credit Suisse's collapse shocked the global banking sector, but its history of scandals suggested an inevitable downfall. Duncan Mavin, author of *Meltdown: Greed, Scandal, and the Collapse of Credit Suisse*, highlights the relentless nature of the bank's crises and a toxic culture that thwarted recovery efforts by executives.
In 2023, Credit Suisse's collapse sent shockwaves through the global banking sector, a culmination of scandals dating back to its founding 167 years ago. Bloomberg editor Duncan Mavin, author of *Meltdown: Greed, Scandal, and the Collapse of Credit Suisse*, discusses the bank's lesser-known crises that contributed to its downfall. Mavin's insights reflect over a decade of covering banking malfeasance, with Credit Suisse frequently at the center of the narrative.
Secretive practices among Swiss officials, including undocumented "non-meetings," hampered the government's response to the Credit Suisse crisis, leading to confusion and a lack of preparedness for the bank's eventual collapse in 2023. A parliamentary report revealed that this culture of discretion left key ministers uninformed, ultimately tarnishing Switzerland's reputation as a financial safe haven. The investigation highlighted the detrimental effects of informal discussions, which delayed necessary interventions and contributed to the chaotic sale of Credit Suisse to UBS.
A couple faced significant delays with UBS while trying to transfer CHF 230,000 to LGT Switzerland, enduring weeks of unfulfilled requests and poor customer service. After 11 weeks of frustration, the woman terminated her account, citing non-execution of the payment order and inadequate support for long-standing clients.
In 2024, Switzerland recorded 25 successful ATM bomb attacks, a decrease from previous years but with a notable rise in explosive methods. The Federal Public Prosecutor's Office is pursuing around 100 cases linked to cross-border criminal activity, resulting in multiple arrests. In response to security concerns, BCJ plans to relocate ATMs away from residential areas, with new installations expected by February 2025.
MEXC has launched the Meme+ Zone, a specialized trading area for trending memecoins, allowing users to trade without needing a Web3 wallet or private keys. The platform combines centralized efficiency with on-chain advantages, offering early access to high-potential tokens while ensuring lower barriers to entry and efficient trading. The initial launch features 13 memecoin projects across the Base and Solana networks, reinforcing MEXC's position as a trendsetter in the cryptocurrency market.
Withdrawing money from Binance to your bank account involves a few straightforward steps. First, complete the KYC verification by submitting necessary documents. Next, convert your cryptocurrency to fiat currency, then navigate to the Wallet section to withdraw funds via bank transfer. Ensure your bank details are accurate and enable 2FA for added security. Withdrawal times may vary based on your region and bank.
Rising crypto scams have resulted in total losses of $2.3 billion in 2024, underscoring the urgent need for enhanced vigilance in the cryptocurrency space. Scams involving fake seed phrases and wallet traps are particularly prevalent, highlighting vulnerabilities that users must address.
North Korean hackers lost $458,000 in a failed Ethereum trade on Hyperliquid after their long position was liquidated when the price dropped significantly. This incident has raised concerns about the platform's security, given its reliance on only four validators, which could be vulnerable to attacks. Additionally, North Korean-linked addresses have lost over $700,000 on Hyperliquid recently, suggesting potential preparations for larger hacking operations.
North Korean hackers have escalated their cyber theft activities, stealing approximately $1.34 billion in 2024, a 102.88% increase from the previous year. This surge includes sophisticated attacks like the $50 million hack of Radiant Capital, where hackers posed as contractors to deliver malware. Experts warn that the collaboration between North Korea and Russia complicates global cyber threats, emphasizing the need for enhanced international cooperation in cryptocurrency tracking and security measures.

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