Bakkt Capitalization to Exceed $700M, Media Says

Some experts estimates upcoming regulated exchange for institutional investors at about $ 740 million
22 March 2019   527

The Bakkt cryptocurrency platform, which is still in the process of preparation for the official launch, after investment received in late December is estimated at about $ 740 million, The Block reports, citing sources close to the project.

On December 31, 2018, Bakkt closed a round of financing for Series A, drawing on $ 182.5 million. Bakkt plans to create the first regulated exchange for institutional investors in combination with physical delivery of digital assets and custodial services.

According to the publication, after receiving these investments, the capitalization of the platform increased to approximately $ 740 million. This also means that the owner of Bakkt, Intercontinental Exchange (ICE), could sell up to 25% of the shares to outside investors, including Michael Digital’s Galaxy Digital, Pantera Capital, technological Microsoft giant and Starbucks coffeehouse. The latter did not make any cash investments in the platform.

The key issue for investors is now getting income from the company, the launch of which has been postponed several times already due to regulatory uncertainty.

Bakkt will have to make significant efforts to ensure sufficient cash flow and to justify the attracted investments. Otherwise, investors may withdraw from the transaction, using the right to repay the shares, which was provided for in a document previously filed with the US Securities and Exchange Commission (SEC).

One of the sources of the publication notes that after a new round of financing, Bakkt can easily raise its capitalization to $ 1 billion, but investors want to see exactly what they are investing.

Earlier it was reported that Intercontinental Exchange, the parent company of the New York Stock Exchange, expects to invest up to $ 25 million in the development of Bakkt by the end of the year.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   313

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.