Category: Cryptocurrency

Cryptocurrency is digital money that works online. It lets people send and receive payments directly without banks. It runs on secure networks called blockchains, making it fast and global.

Hyperliquid Hit by $250M Outflow Amid North Korea Hacking Allegations

Hyperliquid got rocked with $250M+ outflows after a researcher warned North Korean hackers might be testing their platform. Even though Hyperliquid denied any breaches, users panicked, and their token HYPE tanked 20%. Now they’re in damage control mode, trying to rebuild trust and chill the chaos.



Crypto derivatives platform Hyperliquid is in the hot seat after $250M+ in net outflows hit them hard, following claims that North Korean hackers might be lurking. Metamask security researcher Tay Monahan called out the issue on Dec. 23 via X (formerly Twitter), saying hackers tied to North Korea’s DPRK have been poking around since October—not to trade but to sniff out weaknesses.

Monahan’s warning sent shockwaves through the community, with users pulling their funds like there’s no tomorrow. Net outflows hit a record $502.7M that day, even with $253.5M in inflows, according to Dune Analytics.

Hyperliquid clapped back on Discord, saying all funds are secure and there’s been no breach involving DPRK. But the damage was already done. Their token, nosedived 20% resulting in drop to $28 .
The crypto fam is divided—some say Monahan caused unnecessary panic, while others respect her hustle for flagging a potential threat. With North Korea’s infamous Lazarus Group linked to big crypto heists, this isn’t something to shrug off.

Now, Hyperliquid’s next moves will make or break user trust as they fight to bounce back and calm the chaos.

Also Read: Trump Picks Sriram Krishnan as Senior AI Policy Advisor

Trump Picks Sriram Krishnan as Senior AI Policy Advisor

Summary: Donald Trump who’s hell bent on making sure crypto blooms on U.S.A has tapped Indian American tech genius Sriram Krishnan as the Senior White House Policy Advisor on AI. With a stacked resume featuring stints at Microsoft, Twitter, and Facebook, Krishnan joins David O. Sacks to steer America’s AI and crypto future.

Silicon Valley Star Enters The White House

Sriram Krishnan, a legit Silicon Valley powerhouse, is now part of Trump’s brain trust to keep the U.S. winning in the global tech race. Known for his killer product strategies at Twitter, Snapchat, and Facebook, this guy has written the playbook for some of the world’s biggest apps. Krishnan’s first big break came at Microsoft, where he helped build Windows Azure from scratch. And now, he’s heading to D.C. to shape America’s AI destiny.

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Tag Teaming with David O. Sacks

Krishnan isn’t doing this alone. He’s teaming up with David O. Sacks, who’s already making waves as Trump’s AI & Crypto Czar. Together, they’re set to create policies that’ll put the U.S. at the top of the AI leaderboard. In his statement, Krishnan hyped up the role, saying, “Pumped to work on AI policies that’ll keep America ahead in tech innovation. Let’s do this!”

Indian American Community Backs Him

The Indian American community is buzzing with pride. Sanjeev Joshipura from Indiaspora gave Krishnan a shoutout, calling him a “tech and policy MVP.” As Krishnan steps into this role, all eyes are on how he’ll use his tech smarts to shape the future of AI in America. Buckle up, folks it’s about to get real.

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Two Cali Dudes Charged for $22M Crypto Scam

Summary: Gabriel Hay and Gavin Mayo are two 23 year olds who wanted to test the water and now are in such a deep trouble after allegedly scamming $22 million through rugpulls in NFT and crypto projects. They’re now facing serious federal charges and could spend decades in prison.

The Scammy Duo

Hay and Mayo, both from sunny Southern California, ran multiple NFT and crypto projects from 2021 to 2024, like Vault of Gems, Faceless, and MoonPortal. They hyped these projects as game-changers with epic marketing and fake promises of long-term value. But as soon as the cash came in, they yeeted out, leaving their investors with empty wallets and dashed dreams.

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Vault of Lies

Their Vault of Gems project was a standout scam. They claimed it would be “the first NFT pegged to a hard asset,” but surprise there was no “gem” to back it up. Instead of delivering on their promises, they straight-up abandoned ship after collecting millions. It’s like selling a golden ticket to nowhere.

Whistleblower Woes

When someone tried to call them out for their shady Faceless NFT project, these guys allegedly went full villain mode. Prosecutors say they harassed the whistleblower and even their family, adding emotional damage to their list of crimes.

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What’s Next

Now facing six federal charges, Hay and Mayo could be looking at 20 years in prison for each fraud count. Looks like their “crypto empire” dreams just turned into a courtroom nightmare.

Hyperliquid DEX Becomes the Latest Target for North Korean Hackers

Summary: North Korea’s infamous hackers have set their sights on Hyperliquid, a decentralized exchange (DEX), raising alarms within the crypto community. Despite losing over $700,000 while trading on the platform, experts believe the activity might be a test to assess its security. In 2024 alone, North Korean cybercriminals have stolen $1.34 billion in cryptocurrency, accounting for 61% of all crypto thefts this year.

The Details

Cybersecurity expert Tayvano revealed that North Korean hackers are trading actively on Hyperliquid. While the hackers incurred significant losses, some speculate they’re probing the platform’s defenses for a bigger attack. Despite the concerns, Hyperliquid’s team has shown little worry. Tayvano, however, warned, “If I were managing their validators, I’d be worried.”

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A Chainalysis report shows 2024 as the most profitable year for North Korean hackers. They’ve stolen $1.34 billion in 47 attacks, a 21% increase from 2023. Major heists include $305 million from DMM Bitcoin and $235 million from WazirX.

Why It Matters

North Korea uses stolen crypto to fund its weapons programs. While DeFi platforms remain prime targets, centralized services aren’t immune. With the crypto market surging, platforms like Hyperliquid must prioritize security as hackers ramp up their efforts into 2025.

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The industry now faces a pressing question: Can it outpace these cybercriminals before another major breach occurs?

VanEck Claims Bitcoin Reserve Could Erase $42 Trillion in U.S. Debt

VanEck predicts the U.S. could cut its national debt by 36% after just about twenty years if they adopt Bitcoin as a strategic reserve. If Bitcoin appreciates 25% yearly, it could reduce debt by over $42 trillion. The firm also predicts this crypto becoming 18% of global assets, challenging the U.S. dollar, and pushing for policy changes to make this happen.



VanEck, a top asset management firm, has thrown out a wild prediction about Bitcoin. They believe it could be the key to slashing the U.S. national debt. According to them if Bitcoin keeps growing at a 25% annual rate while U.S. debt goes up, Bitcoin could help cut the national debt by about $42 trillion in just a few decades. In addition to it, by the time this happens, Bitcoin could be worth $42 million per coin, making it a global powerhouse in finance.

The firm also believes that Bitcoin could represent a huge chunk—18%—of the world’s financial assets in the future, especially with this global wealth growing ever so fast. This would make Bitcoin a legit contender to challenge the U.S. dollar, offering an alternative for countries that are under U.S. sanctions.

Mathew Sigel, VanEck’s head of research, sees Bitcoin totally changing global finance. He imagines it becoming a major currency for international trade, making it easier for countries to operate without relying on the dollar. To get this going, VanEck suggests that the U.S. stop selling off Bitcoin from its reserves and start using its Exchange Stabilization Fund to buy Bitcoin. While some experts are skeptical, including economist Peter Schiff, who proposes a new U.S. digital currency, Bitcoin’s future as a global currency is definitely being taken seriously.

Also Read: Trump Appoints Bo Hines to Lead Crypto Council as Executive Director

Trump Appoints Bo Hines to Lead Crypto Council as Executive Director

Trump just named Bo Hines, ex-college footballer and pro-crypto advocate, as Executive Director of his new Crypto Council. Hines, along with AI czar David Sacks, will drive crypto growth in the U.S. Backed by pro-crypto PACs, this move shows Trump’s big push to make America the crypto capital.

Big moves in the crypto world! Trump just announced Bo Hines—yep, the ex-college football player and 2022 Republican candidate—as the new Executive Director of the Crypto Council. This squad, officially called the Presidential Council of Advisers for Digital Assets, is all about making the U.S. the ultimate crypto hub.

Hines is no rookie in the crypto game. Back in time about two years ago, his campaign got a boost from pro-crypto PACs, including funds tied to FTX’s Ryan Salame (yeah, the dude caught up in that political donations drama). Even though Hines narrowly lost his North Carolina House race, his pro-crypto stance clearly caught Trump’s eye.

He’s teaming up with David Sacks, Trump’s AI and crypto czar, to bring some serious innovation vibes. Sacks is known for making waves in tech, so expect some big brain energy here. Oh, and let’s not forget Sriram Krishnan (ex-Andreessen Horowitz guy) also joined in as the senior AI policy adviser.

Trump’s making it absolutely clear: he’s going all-in on crypto. With promises to turn the U.S. into a global crypto powerhouse, this is just the start of his digital asset domination plans. Buckle up, crypto fam—it’s about to get wild!

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Hawk Tuah Girl Finally Speaks Out on $HAWK Token Drama

Summary: Hailey Welch who’s widely and by widely I mean worldwide known as “Hwak Tuah Girl” has finally spoken after the $HAWK token scandal left investors fuming. The token, hyped up by Welch’s massive fanbase, crashed hard minutes after launch, sparking a class-action lawsuit. Investors accuse the project’s team of pulling a classic “rug pull,” leaving them with empty wallets and shattered trust. Welch, though not officially named in the lawsuit, took to Twitter to clear the air and address her fans.

What Went Down?

$HAWK launched on December 4 with a bang, skyrocketing to a $490 million market cap, thanks to the buzz from Welch’s loyal followers. But the hype didn’t last just 20 minutes in, the token tanked to $41 million. Holders claim the creators dumped a huge chunk of the coin, sending its value into a free fall.

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The lawsuit targets the Tuah The Moon Foundation, OverHere Ltd., and Alex Larson Schultz, one of the token’s big promoters. It alleges that $HAWK was sold as an unregistered security and claims the team used Welch’s clout to bait investors into a financial trap.

Welch’s Side of the Story

Addressing the controversy, Welch tweeted: “This is serious, and I want to say sorry to anyone affected. I’m working with legal teams to figure this out and make things right.” She also told investors to hit up the law firms handling the case for help.

The Bigger Picture

The $HAWK presale raised $2.8 million, but when the token went live, things spiraled fast. Welch’s spokesperson said she had zero control over the project, adding, “She just got a sponsorship fee and wasn’t involved in running the coin.”

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This whole mess is a wake-up call for anyone jumping into celeb-backed crypto projects. It’s a reminder that just because your fave is hyping it doesn’t mean it’s a solid bet.

Bitcoin to the Rescue? Trump’s Wild $35 Trillion Debt Plan

Summary: Donald Trump is a sophisticated man, freshly back in the Oval Office and he just dropped a bombshell idea: using Bitcoin to get over the U.S’s massive and huge $35 trillion debt.

“Bitcoin to Fix It All”

Trump isn’t holding back. He’s all in on crypto, claiming digital currencies like Bitcoin could be the secret sauce for America’s financial woes. After becoming the first U.S. president to make a Bitcoin transaction (buying cheeseburgers, no less), Trump has turned his crypto enthusiasm into a national game plan. “Crypto has got a great future,” he declared, suggesting that embracing Bitcoin might just be the bold move the U.S. needs to wipe out its sky-high debt.

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Making America the Crypto Capital

Re-elected in 2024, Trump is set on making the U.S. the global hub for crypto. He’s not just talking about fixing debt; he’s talking about leading a financial revolution. “Maybe we’ll pay off our $35 trillion debt,” he said with a cheeky grin, hinting at Bitcoin’s potential to reshape how the U.S. does money. With the crypto community rallying behind him, Trump’s vision is striking a chord with Gen Z and millennial investors.

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Crypto and Politics: A New Era

Trump’s rival, Kamala Harris, isn’t sleeping on crypto either. While she hasn’t gone full Bitcoin evangelist, she’s pushing for innovation in A.I. and digital assets, making it clear that crypto is on everyone’s radar. With Trump and Harris both giving . With Trump and Harris both giving digital currencies a nod, the U.S. is gearing up for a major crypto-political wave.

200M Dogecoin Mysteriously Moved to Binance

Binance received 200M Dogecoin ($59.9M) from an unidentified wallet. This sparked conjecture on possible trades or liquidity preparation. Following initial losses, Dogecoin recovered 13% to $0.323, in line with the market's recovery. With more than 6.6 million holdings this year, DOGE may increase to $0.48 or fall to $0.23 despite strong resistance at $0.36.

The Dogecoin community is lit after 200 million DOGE (worth $59.9M) got transferred from a mystery wallet straight to Binance. Nobody knows who’s behind this massive move, but the rumor mill is spinning. Is it a whale looking to trade big or Binance prepping for more liquidity? The real reason is still up in the air.

DOGE’s price has been on a rollercoaster lately. After a dip below its 50-day SMA of $0.36 earlier this week, it bounced back hard—jumping 13% in the last 24 hours to hit $0.323. The rebound came after hitting a low of $0.262 on Friday and reaching an intraday high of $0.35 on Saturday.

Looking ahead, DOGE could face resistance at $0.36, but if it breaks through, we’re eyeing $0.42 or even $0.48. On the flip side, if it slides, it might drop to $0.23.

Meanwhile, the DOGE fam keeps growing, with over 6.6M wallets holding the meme coin in 2024. With a 400% jump in market cap for meme coins this year, Dogecoin is showing it’s more than just a joke—it’s here to stay.

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Ripple CTO Highlights RLUSD’s Role in Enhancing XRP Ledger Experience

Ripple just dropped RLUSD. Its a stablecoin pegged 1:1 to the USD, its CTO explained how it’s a game-changer. RLUSD boosts XRP Ledger by handling crypto and fiat smoother, increasing liquidity, and powering DeFi apps. It’s perfect for easy cross-border payments and switching between cash and crypto seamlessly.

Ripple’s CTO, Joel Katz, just broke down why their new stablecoin, RLUSD, is a big deal. Launched recently and approved by the NYDFS, RLUSD is pegged 1:1 with the US dollar, making it super steady for cross-border payments and moving between crypto and fiat. To put it simply, its a smooth operator for your money, whether it be real money or crypto.

Here’s the tea: RLUSD and XRP aren’t competing; they’re vibing together. XRP stays the MVP for international payments, while RLUSD steps in to boost liquidity and fuel DeFi projects. Katz explained that the magic lies in XRP Ledger’s auto-bridging system, which uses XRP as the middleman to connect different assets seamlessly. Basically, they’re the dream team.

For developers, it’s an open door to more opportunities and higher trading volumes within the XRP Ledger ecosystem. For businesses and users, it’s all about easy transactions and converting real-world assets into tokens without the usual hassle.

Ripple President Monica Long also highlighted their unique roles—XRP for global payments, RLUSD for liquidity and stability. With RLUSD, Ripple’s not just keeping up; they’re setting trends in the crypto space. Expect more innovation and activity on the XRP Ledger.

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