Recent events in the cryptocurrency world have brought unexpected news regarding network attacks and government interventions.
Qubic Targets Dogecoin
The Qubic community, focused on AI and blockchain technology, voted on a new target network, and Dogecoin (DOGE) emerged as the focus. The project's founder Sergey Ivancheglo, known online as Come-from-Beyond, proposed a choice between Dogecoin, Kaspa, and Zcash. Dogecoin was selected with over 300 votes, surpassing the votes for both other projects.
Qubic's recent attack on Monero highlighted the vulnerability of proof-of-work blockchains to concentrated hashrate attacks. This event drew attention to the potential implications for other major platforms such as Dogecoin.
US Seizes Crypto Assets
The US Justice Department reported the seizure of cryptocurrency and other assets worth over $2.8 million linked to the actions of alleged ransomware operator Ianis Aleksandrovich Antropenko. Six warrants were obtained to seize funds from a wallet controlled by Antropenko, including $70,000 in cash and a luxury vehicle.
Authorities stated that the seized funds were associated with ransomware operations and laundered through platforms such as ChipMixer.
Implications for the Crypto Market
Events like the attack on Monero and the focus on Dogecoin raise questions about the security of other large proof-of-work blockchains. The temporary suspension of deposits on Kraken due to risks to the integrity of the Monero network indicates potential serious consequences for the waning trust in blockchain technology. As the United States tightens its grip on the cryptocurrency market, questions about the amount of controlled assets become particularly relevant.
Recent events underscore the growing challenges and issues in the world of cryptocurrencies, including network security concerns and regulatory measures aimed at combating financial crimes.
