Circle May Lost $2B of Capitalization

Expert says his could be the result of a number of acquisitions and a bear market
05 February 2019   928

The operator of the cryptocurrency exchange Poloniex, the investment application Circle Invest and the developer of the stablecoin USDC Boston startup Circle could lose more than $ 2 billion of capitalization in the last nine months, The Block reports.

At the moment, private stocks of the company on the SharesPost platform are trading at $ 3.80. It is not yet known how many shares are offered at this price and whether successful transactions have been made.

In May 2018, Circle's share price was $ 16.23 with a capitalization of $ 3.01 billion. If the current SharesPost quotes reflect the real situation, then the company's value fluctuates around $ 705 million.

Sources of publication in one of the hedge funds stressed that this could be the result of a number of acquisitions in combination with a bear market.

Other market players noted that Circle Trade's OTC-service provides most of the company's revenues, in which the trading volume in 2018 reached $ 24 billion. The focus on prop-trading, they say, complicates the company's objective assessment at this stage.

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   262

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.