The final week of 2024 has been as exciting as the rest of the pivotal year for cryptocurrency adoption, after Ethereum co-founder Vitalik Buterin decided to adopt viral internet sensation Moo Deng by donating 88 Ether to a Thailand-based zoo.
In the wider cryptocurrency space, James Howells is continuing his legal battle to recover a hard drive containing $773 million worth of Bitcoin that was lost in a landfill in 2013.
Vitalik Buterin adopted Moo Deng with an 88 ETH donation to the zoo.
Moo Deng, the pygmy hippo that became an internet sensation, was adopted by one of the most famous cryptocurrency founders, Vitalik Buterin.
Buterin, co-founder of Ethereum, the world’s second-largest blockchain network, has become Moo Deng’s adoptive father, Thailand’s Khao Kheow Open Zoo announced in an X post on December 26.
“Thank you to Vitalik Buterin for participating in our wildlife sponsorship program and adopting Moo Deng with a generous gift of 10,000,000 THB for the family!”
Buterin’s donation. Source: Open Week
Moo Deng gained huge popularity due to his expressive personality and charming social media videos shared by a Thai zoo last September.
In response to this announcement, Buterin said he may donate $292,000 to the zoo, an amount greater than the current 88 Ether (ETH).
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All I wanted for Christmas was to get $773 million in BTC back.
James Howells, an IT engineer from Newport, Wales, is waging a high-stakes legal battle to recover a hard drive containing private keys worth 8,000 bitcoins, worth about $773 million.
A drive accidentally discarded in a landfill contained Bitcoin (BTC) from 2009, meaning property associated with the early days of the cryptocurrency market. Howells is currently off-limits to Newport City Council due to environmental clearance.
In an exclusive interview with Cointelegraph, Howells said the legal process is ongoing and is being supported by a world-class legal team trained in British law and cutting-edge artificial intelligence technology.
Despite disposing of approximately $773 million of its holdings in 2013, Howells remains optimistic and plans to reward stakeholders, contribute to the cryptocurrency community, and potentially reinvest in blockchain projects. If you recover your lost BTC.
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South Korea sanctions 15 North Koreans for cryptocurrency extortion and cyber theft
North Korean hackers are being tracked by governments around the world for more than half of the stolen cryptocurrency value in 2024.
Hackers like the infamous Lazarus Group are prime suspects in some of Web3’s most notorious cyberthefts, including the $600 million Ronin network hack.
South Korea is the latest country to impose sanctions on 15 members of a North Korean IT organization and one related organization.
According to a press release issued by the South Korean Ministry of Foreign Affairs on December 26, the sanctioned agents are known to have raised funds for North Korea’s nuclear missile development program and North Korea’s Ministry of Military Industry through ‘overseas foreign currency earning activities.’
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Cryptocurrency hacking will result in losses of $2.3 billion in 2024, a 40% increase compared to the previous year.
In 2024, cryptocurrency hackers stole more than $2.3 billion in cryptocurrency from the Web3 ecosystem, surpassing the previous year’s performance. This is a worrying sign for mainstream acceptance of the industry.
Cryptocurrency hacking has seen a rapid rise, fueled by the appeal of rising cryptocurrency values, with Bitcoin (BTC) surpassing $100,000 for the first time on December 6.
According to a report shared by on-chain security company Cyvers, cryptocurrency hackers stole more than $2.3 billion worth of assets in 165 incidents, a 40% increase compared to 2023, when hackers stole $1.69 billion worth of cryptocurrency. It’s a shame.
Total annual loss of funds. Source: Cyberse
According to Deddy Lavid, co-founder and CEO of Cybers, the 40% increase is primarily due to an increase in access control violations at centralized exchanges (CEXs) and cryptocurrency custodians.
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Solana’s Jito Staking Pool Exceeds $100 Million in Monthly Tips: Kairos Research
Solana staking pool Jito generated more than $100 million per month in preferential fees and tips in November and December, according to a December 26 report from cryptocurrency researcher Kairos Research.
Kairos said that in 2024, Jito’s validators increased their tip revenue by an average of 32% per month. Monthly income peaked in November at about $210 million.
Jito’s growing tip revenue reflects the soaring popularity of the Solana network. It also marks an increase in a validator’s income by prioritizing certain transactions over others. This is a practice known as maximum extractable value (MEV).
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DeFi Market Overview
Most of the top 100 cryptocurrencies by market capitalization closed in the green this week, according to data from Cointelegraph Markets Pro and TradingView.
Among the top 100, Bitget Token (BGB) was the biggest winner of the week, up over 81%, thanks to the recent token merger of the former Bitget Token (BGB) and Bitget Wallet Token (BWB).
Virtuals Protocol (VIRTUAL) coin is up over 51% over the past week, making it the second biggest gainer of the week.
Total value locked in DeFi. Source: DefiLlama
Thank you for reading our roundup of the most influential DeFi developments this week. Join us next Friday for more stories, insights and education about this dynamically evolving space.