The last week of 2024 was as exciting as the rest of this milestone year of 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.
In the wider crypto space, James Howells continues the legal battle to recover his hard drive containing over $773 million worth of Bitcoin, which was lost in a landfill back in 2013.
Vitalik Buterin adopts Moo Deng with 88 ETH zoo donation
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. Source: Khao Kheow Open Zoo
Moo Deng rose to viral popularity in September because of her expressive personality and charming social media videos shared by the Thailand-based zoo.
In response to the announcement, Buterin said he may donate even more than the current 88 Ether (ETH), or $292,000, to the zoo.
Continue reading
All I wanted for Christmas was my $773M BTC back
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 that is 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.
Continue reading
South Korea sanctions 15 North Koreans for crypto heists and cyber theft
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.
Continue reading
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 Dec. 6.
Crypto hackers stole over $2.3 billion worth of assets across 165 incidents, marking a 40% increase compared to 2023, when hackers stole $1.69 billion worth of crypto, according to a report shared by onchain security firm Cyvers.
Total annual funds loss. Source: Cyvers
The 40% increase was mainly attributed to the rise of access control breaches, particularly in centralized exchanges (CEXs) and crypto custodians, according to Deddy Lavid, co-founder and CEO of Cyvers.
Continue reading
Solana’s Jito staking pool exceeds $100M in monthly tips: Kairos Research
Solana staking pool Jito clocked monthly revenues from priority fees and tips of more than $100 million in November and December, according to a Dec. 26 note from Kairos Research, a cryptocurrency researcher.
In 2024, Jito’s validators scaled tip revenues by an average of 32% each month, Kairos said. Monthly income peaked in November at about $210 million.
Jito’s increasing tip revenue reflects the Solana network’s surging popularity. It also flags validators’ increasing earnings from prioritizing certain transactions over others, a practice known as Maximum Extractable Value (MEV).
Continue reading
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.
Total value locked in DeFi. Source: DefiLlama
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
