Subtle Bits of Crypto - Week 4 July, 2022
Weekly Crypto Update
Ronin and Horizon Bridge Hackers caught by US Officials.
North Korean-based Lazurus Group has been held responsible for Ronin and Horizon Bridge Hacks in 2022.
Approx. $725M were stolen in total from these Bridge exploits.
Caught during converting crypto to fiat from a Hospital Hack in the US.
Crypto Mixer Usage Reaches All-time Highs in 2022
Crypto Mixers (tumblers) are used to obfuscate crypto transactions.
Widely used by Hackers and Ransomware Attackers to remove traces of transaction origin.
In the recent crypto bridge hacks, the popular mixer service Tornado Cash was used by the Lazurus Group.
Link.
Google Pay is integrated with Crypto.com, allowing Android users to buy cryptocurrencies on the app.
Crypto.com, a global cryptocurrency exchange, has added a new payment option that will ease the process of purchasing cryptocurrencies via mobile devices.
Founded in 2016, Crypto.com has over 50 million users globally.
Current Integration has been rolled out in Australia and New Zealand.
Polygon unveils zkEVM, an Ethereum Virtual Machine (EVM) for ZK-Rollups
Polygon is a Scaling solution to Ethereum Blockchain.
This will give ZK-Rollups the ability to run Ethereum-based smart contracts
zkEVM will hit the mainnet by the end of 2022.
Term of the Week
Blockchain Bridge
A blockchain bridge is a protocol connecting two blockchains to enable interactions between them. If you own bitcoin but want to participate in DeFi activity on the Ethereum network, a blockchain bridge allows you to do that without selling your bitcoin.