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LastPass hackers have stolen $5.36 million from users just days before Christmas, adding to a total of nearly $45 million in crypto thefts since a significant data breach in December 2022. Security experts warn that all private keys and seed phrases stored on LastPass prior to 2023 are at risk, urging users to transfer their assets immediately. As scams surge during the holiday season, caution is advised against festive-looking schemes and free WiFi connections.
FTX's reorganization plan will take effect on January 3, 2025, with initial distributions starting within 60 days, facilitated by partners Kraken and BitGo. Creditors must complete necessary steps, including KYC validations and tax forms, to be eligible for payments. The recovery plan, approved by a US Bankruptcy Judge, is valued at $16.5 billion, potentially dropping to $14.7 billion after cash conversion.
FTX will commence creditor distributions on January 3, 2025, following court approval of its Chapter 11 reorganization plan. Approximately 98% of creditors are set to receive at least 118% of their claim value, with initial payments targeting specific groups within 60 days of the effective date. BitGo and Kraken will manage the distribution process, while KYC verification and tax form submission are required for creditors to access their funds.
FTX plans to start repaying customers and creditors in early 2025, following the approval of its reorganization plan effective January 3, 2025. The initial repayments will be distributed within 60 days, facilitated by Kraken and BitGo, with customers required to complete KYC verification and tax forms.
Swiss Banking reflects on a challenging 2024, emphasizing the need for a unified approach to political and regulatory challenges in 2025, including banking stability, anti-money laundering, and digital currencies. The focus will be on implementing strategic priorities and enhancing the financial sector's innovative capabilities. Additionally, the adaptation of ESG guidelines and the management of nature-related financial risks are set to continue shaping the regulatory landscape.
Lunex Network (LNEX) has gained significant attention, with its price soaring from $0.0012 to $0.0044, marking over 260% ROI for early investors. Analysts predict it could reach $1 as it enters major exchanges, while meme coins like Dogecoin and Pepe show strong bullish momentum, with projections of substantial growth ahead. The DeFi protocol aims to simplify trading by connecting isolated blockchains and eliminating complex onboarding processes, offering users various incentives for holding LNEX tokens.
The content provided serves as general news and analysis regarding cryptocurrencies and financial instruments, emphasizing that it does not constitute investment advice. Users are urged to conduct their own research and consult advisors before making financial decisions, as the information may not be accurate or timely. The website disclaims any liability for losses incurred from reliance on its content.
Binance introduces the "Christmas Garden" activity, allowing users to collect unique decor items by completing tasks to unlock a share of a dynamic prize pool of up to $195,000 in BNB token vouchers. Participants must complete KYC and collect all three decor items to be eligible for rewards, which will be distributed within 21 working days after the promotion ends. Additionally, top referrers can earn up to $1,000 in BNB vouchers, with the promotion running from December 16 to December 31, 2024.
The recent debanking narrative, sparked by Marc Andreessen's comments on the arbitrary closure of bank accounts for crypto founders, has led to a surge in projects on Solana aimed at providing banking alternatives. Startups like Squads and Iron are developing solutions such as virtual bank accounts and onchain banking, while the broader perception of risk associated with crypto continues to challenge these initiatives. Despite the ongoing debate about the effectiveness of current anti-money laundering efforts, the push for innovative financial services persists, highlighting the need for regulatory alignment in the evolving landscape.
A verdict is anticipated on February 20 in the trial against Swiss bank UBS, which concluded recently in Paris. The bank faces charges of unlawful financial services provision and aggravated laundering of tax fraud proceeds, with its French subsidiary implicated as well. Key executives, including former top officials Raoul Weil and Patrick de Fayet, have been summoned to testify.
Anti-Money Laundering (AML) & Know Your Customer
SubCategory
LastPass hackers steal over 5 million just before Christmas season
05:42 17.12.2024
ftx to start creditor distributions in march with kraken and bitgo
21:51 16.12.2024
FTX to begin creditor distributions on January 3 2025 after court approval
19:49 16.12.2024
ftx plans customer repayments through kraken and bitgo in early 2025
19:10 16.12.2024
Swiss Banking Prepares for 2025 Amid Regulatory Challenges and Technological Innovations
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18:08 16.12.2024
Lunex Network Gains Momentum as Investors Eye Promising DeFi Opportunities
10:54 16.12.2024
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03:47 16.12.2024
Binance launches Christmas Garden activity with up to 200000 in BNB rewards
01:00 16.12.2024
solana projects respond to banking crisis with innovative financial solutions
22:30 13.12.2024
UBS Trial in France Concludes with Verdict Expected on February 20
17:27 13.12.2024
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