Posted April 10, 2023
By Chris Campbell
Crypto Buzz: Arbitrum Drama → North Korean Crypto Heist → Doge Dump
A quiet week in crypto. No arrests. No fines.
But still plenty of drama to go around.
Arbitrum Tries to Make Right
There was a new development in the ongoing drama between the Arbirtrum (ARB) team and its community.
A proposal was introduced on Saturday that would return the nearly $1 billion worth of ARB tokens that the Arbitrum team withdrew, ignoring the voting results of the holders of its governance tokens.
The team justified its decision claiming the vote was a “ratification”.
You can catch up on the whole saga and what the Arbitrum team plans to do to appease its community by reading more here.
North Korea Steals A Billion in Crypto
The United Nations Security Council reported that North Korea potentially stole up to $1 billion in crypto assets in 2022.
According to the council’s annual report, North Korea used...
“...increasingly sophisticated cybertechniques both to gain access to digital networks involved in cyberfinance and to steal information of potential value, including to its weapons programs.”
You can read the full report here.
Doge Whales Abandon Ship
You may have noticed the sudden disappearance of Twitter’s iconic blue bird logo.
Without any warning, the social media platform replaced their old logo with the infamous “Doge” meme.
Many people weren’t surprised by this sudden change in branding, as Twitter’s new owner and CEO has long been a meme pusher and Dogecoin (DOGE) advocate.
DOGE rallied following the change, seeing its price go over $0.10. A three month high.
However the meme coin’s surge was quickly halted when some of the largest DOGE holders took advantage of the swing by selling all of their coins.
One user sold 650 million DOGE ($61.3M).
The price of DOGE is now back down to $0.084.
You can read more here.