Crypto Mining Firm Core Scientific Settles $45M Dispute with Celsius as Bitcoin Miner Returns Accidental Fees; North Korea Hackers Steal $340M in Cryptocurrencies
Summary:
Crypto mining company Core Scientific settles a $45 million dispute with Celsius, while a Bitcoin miner returns funds from accidental fees and North Korea hackers steal $340.4 million in cryptocurrencies in 2023.
Crypto mining company Core Scientific has reached a settlement of $45 million with former crypto lender Celsius in regards to a mining data center dispute. At the same time, the Bitcoin miner who accidentally received 19.8 BTC in fees from Paxos has returned the funds, and research shows that hackers linked to North Korea have stolen a total of $340.4 million in cryptocurrencies so far this year.
Crypto miner Core Scientific and Celsius Network have agreed to settle their ongoing legal dispute pending court approval. Core Scientific has agreed to sell a Bitcoin mining data center to Celsius for $14 million in cash, effectively resolving all litigation. The value of the data center was originally estimated to be around $45 million.
The two companies have been involved in a legal battle since October 2022 when Core Scientific accused Celsius of failing to pay bills, while Celsius claimed that Core Scientific was not fulfilling its contractual obligations regarding mining rigs deployment. Interestingly, both companies filed for bankruptcy during the crypto bear market last year, with multiple Celsius executives facing criminal charges.
In another news, the Bitcoin miner who received the accidental fees of 19.8 BTC from Paxos has returned the funds to the blockchain infrastructure firm. Paxos admitted that it made the mistake of paying over $500,000 in BTC transfer fees. Speculations arose as to how this error occurred, with some believing it was due to copying and pasting data without double-checking. Paxos confirmed that PayPal was not involved in the mistake and assured its users that their funds were secure. The miner initially considered distributing the funds to other Bitcoin miners, but later agreed to refund the amount to Paxos. The funds were returned on September 15 as confirmed by blockchain data.
In addition, research conducted by blockchain security firm Chainalysis reveals that hackers linked to North Korea have stolen $340.4 million in cryptocurrencies this year. While this figure represents an 80% drop from the previous year's stolen amount of $1.65 billion, Chainalysis warns that the risk of hacking remains high. The firm emphasizes that the decrease in numbers does not necessarily indicate improved security, and the industry should not underestimate the threat. Chainalysis also emphasizes the need for crypto firms to train employees to counter social engineering tactics employed by hacker groups, particularly those linked to North Korea.
Please note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.
Published At
9/15/2023 7:33:46 PM
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