Get ready for a crypto rollercoaster! The digital asset world has been buzzing with excitement and drama over the past few days, proving once again that it's never a dull moment in the crypto universe.
First up, let's talk about the infamous North Korean hacking group, The Lazarus Group. These cyber bandits have been busy, boosting their stash to a jaw-dropping 13,518 BTC, roughly worth over $1.1 billion according to Arkham Intelligence. This makes North Korea the fifth-largest nation-state holder of Bitcoin, right behind the big players like the US, China, the UK, and Ukraine. These hackers pulled off the biggest crypto heist ever, nabbing about $1.5 billion in Ethereum from Bybit last month and converting much of it into Bitcoin.
But it's not just Bitcoin they're hoarding. They've got 13,702 ETH worth about $26 million, along with millions in BNB, DAI, and other crypto assets. Meanwhile, South Korea isn't too keen on adding Bitcoin to its foreign currency reserve, citing its wild price swings and the headaches of turning it into cash during market chaos.
While Bitcoin's been having a hard time getting any love, Toncoin (TON) had quite the weekend. Its value surged after the TON Foundation announced that French authorities returned Telegram founder Pavel Durov's passport, freeing him from the country. His previous detention had cast a shadow over TON, but it looks like the sun's starting to shine again.
And for our grand finale, let's dive into some crypto drama! Over the weekend, the community was buzzing about a gutsy investor who opened a massive short BTC position on Hyperliquid with a mind-blowing 40x leverage, worth around $350 million. The stakes were high; even a small 2.5% rise in BTC's price could spell disaster for this trader.
This sparked a movement, with folks jumping on the long position bandwagon to try and push the price up and liquidate the investor. Tron’s founder, Justin Sun, even wanted in on the action. BTC soared past $85,000, but the trader just kept adding margin, raising the stakes even higher. Eventually, the crowd backed off, ironically giving the short position a boost, now estimated at a staggering $450 million.
So buckle up, because in the world of crypto, there's always a twist around the corner!
