Massive developments in the cryptocurrency industry took place last week, and one of the most prolific is with the Terraform Labs which recently filed its Chapter 11 bankruptcy protection in the United States. It also joins alongside the revamp of the infamous Worldcoin, centering on its latest hardware known as Orb 2.0 which brings a more usual appearance like everyday gadgets.
(Photo : Tech Times)
However, last week also saw the study of how much North Korean crypto hackers increased their activity in as much as seven years.
Terraform Labs Files for Chapter 11 Bankruptcy
Apart from last year's focus on Sam Bankman-Fried and the FTX, and Changpeng Zhao of Binance, there was also a massive focus on Terraform Labs and its renowned but disgraced ex-CEO, Do Kwon. The latest development for the company is its filing of Chapter 11 bankruptcy protection in the United States, declaring the assets and liabilities that it owns.
This also brings to light the 100 to 199 creditors of the company, with its former CEO owning a 92 percent stake in the company, as a major shareholder.
The company does not need any additional financing to pay its employees and vendors amidst the filing and is hopeful for the future to continue its business and go forth with its Web3 expansion.
The prolific company known as Worldcoin, best known for its collection of biometrics from all around the world in exchange for its renowned cryptocurrency, is now looking to launch new hardware that was said to revamp the experience. According to its CEO Alex Blania, Worldcoin Orb 2.0 will bring a different kind of experience, and a more friendly approach compared to the previous one.
With this new device, the CEO claimed that it would look like more of the usual devices available in the market, akin to the likes of Apple and other tech products available.
Through Orb 2.0, users may continue to create and access their World ID, a new digital passport that will allow access to Worldcoin's application, with a new look.
North Korean Crypto Hackers Activity
For the longest time, North Korea has been infamous for its cryptocurrency hackers or threat actors in general, but from 2016 to 2023, the government-backed groups have grown much of their activity against the world. In seven years from last year through 2016, the North Korean hackers recorded their highest level of activity, with a significant surge last year.
Last year, the threat actors were able to steal as much as $1 billion in crypto, but this was regarded to be significantly less than its 2022 activity which totaled $1.7 billion.
The likes of Kimsuky and the Lazarus Group were among those who rose over the past years, with a diverse range of malicious tactics enforced against victims and stealing loads of crypto assets.
