The FBI claims North Korea-linked hackers were behind a $100 million crypto heist on the so-called Horizon bridge last year.
Budrul Chukrut | Sopa Images | Lightrocket | Getty Images
North Korean-linked actors were behind the theft of $100 million through the hack of a crypto product last year, the Federal Bureau of Investigation said.
The FBI said it was “able to confirm” that Lazarus Group and APT38, two hacking groups linked to Pyongyang, were responsible for the attack on the so-called Horizon bridge in 2022.
Traders use a bridge to swap cryptocurrencies between different blockchain networks.
The FBI also said that the North Korean cyber actors this month used the Railgun system to launder over $60 million worth of the token ether stolen during the June 2022 heist. Railgun is a system designed to help preserve the anonymity of people moving cryptocurrency.
A portion of the stolen ether was sent to several virtual asset service providers and converted to bitcoin, the FBI said.
At the time of the hack, blockchain analytics firm Elliptic said that there were “strong indications” that Lazarus was behind the attack. Almost immediately, the hackers were attempting to move the funds around through means to obfuscate their identity.
The FBI said it continues “to identify and disrupt North Korea’s theft and laundering of virtual currency, which is used to support North Korea’s ballistic missile and Weapons of Mass Destruction programs.”
North Korean-linked attackers have been pinned to other crypto hacks.
Last year, the U.S. Treasury Department blamed Lazarus for a $600 million heist on Ronin Network, a so-called “sidechain” for popular crypto game Axie Infinity.
– CNBC’s Ryan Browne contributed to this report
Sam Bankman-Fried tried to influence witness through Signal, DOJ alleges
Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023.
Ed Jones | AFP | Getty Images
Federal prosecutors are attempting to bar indicted FTX co-founder Sam Bankman-Fried from using encrypted messaging software, citing efforts that may “constitute witness tampering,” according to a letter filed in Manhattan federal court Friday.
Bankman-Fried reached out to the “current General Counsel of FTX US who may be a witness at trial,” prosecutors said. Ryne Miller, who was not identified by name in the government filing, is the current counsel for FTX US, and a former partner at Kirkland & Ellis.
The government claims that Bankman-Fried wrote to Miller via Signal, an encrypted messaging app, on Jan. 15, days after bankruptcy officials at crypto exchange disclosed the recovery of more than $5 billion in FTX assets.
“I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” Bankman-Fried allegedly told Miller.
Bankman-Fried has also been in contact with “other current and former FTX employees,” the filing said. Federal prosecutors allege that Bankman-Fried’s request suggests an effort to influence the witness’s testimony, and that Bankman-Fried’s effort to improve his relationship with Miller “may itself constitute witness tampering.”
Both Miller and a representative for Bankman-Fried declined to comment.
In restricting Bankman-Fried’s access to Signal and other encrypted messaging platforms, the government cites a need to “prevent obstruction of justice.” Federal prosecutors claim that Bankman-Fried directed Alameda and FTX through Slack and Signal, and ordered his employees set communications to “autodelete after 30 days or less.”
Citing previously undisclosed testimony from ex-Alameda CEO Caroline Ellison, the government claimed that Bankman-Fried indicated “many legal cases turn on documentation and it is more difficult to build a legal case if information is not written down or preserved.” Ellison pled guilty to multiple charges of fraud and has been cooperating with the U.S. Attorney’s efforts to build a case against Bankman-Fried.
Bankman-Fried pled not guilty to eight charges in connection with the collapse of his multibillion-dollar crypto empire, FTX. He is due in federal court in October, after being released on $250 million bond.
Amazon to start charging delivery fees on Fresh grocery orders under $150
Brendan McDermid | Reuters
Amazon will start charging delivery fees for Fresh grocery orders that are less than $150, in a move it said will help keep prices low on its services.
Beginning Feb. 28, Prime members who want home delivery from Amazon Fresh will incur a $9.95 delivery fee for orders under $50, while orders between $50 and $100 will include a $6.95 delivery fee, and orders between $100 and $150 will carry a $3.95 delivery fee, the company said in a note to customers viewed by CNBC. Only Prime members can use the delivery service, although anybody can shop at an Amazon Fresh grocery store.
Amazon previously guaranteed members of its $139-a-year Prime service free delivery on Fresh orders over $35.
“This service fee will help keep prices low in our online and physical grocery stores as we better cover grocery delivery costs and continue to enable offering a consistent, fast, and high-quality delivery experience,” the notice stated.
The move comes as Amazon CEO Andy Jassy has embarked on a wide-ranging review of the company’s expenses amid slowing sales and a worsening economic outlook. Amazon has eyed laying off 18,000 employees, frozen hiring in its corporate workforce, and paused or canceled some projects such as a sidewalk robot and a telehealth service.
Amazon has previously recalibrated its approach to online grocery deliveries, a business that is notoriously challenging from a cost and efficiency perspective. In 2021, Amazon added a $10 service fee for Whole Foods delivery orders to Prime members, after previously offering them for no extra charge.
Tesla just had its best week since May 2013
Tesla CEO Elon Musk smiles as he addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway on August 29, 2022.
Carina Johansen | AFP | Getty Images
Tesla shares surged 33% this week, marking their best weekly performance since May 2013 and second best on record.
The stock rose 11% on Friday to close at $177.88. The rebound followed a six-month period in which Tesla shares had declined more than 40%. The stock’s 65% plunge in 2022 was its worst in Tesla’s 12-plus years as a public company.
Tesla’s rally this week was aided by an upbeat fourth-quarter earnings report. During the call with shareholders and analysts, CEO Elon Musk said the company was on target to potentially produce 2 million vehicles in 2023, and he suggested demand would support sales of those cars as well.
Official guidance called for production of 1.8 million vehicles this year. The company has not revised its longstanding target for 50% compound annual growth rate over a multi-year horizon.
Tesla’s five day performance charted against Rivian and Ford Motor Company.
Tesla beat on both the top and the bottom lines, recording total revenue of $24.32 billion, including $324 million of deferred revenue related to Tesla’s driver assistance systems. The company cut prices for its cars dramatically in December and January, leading to concern about demand and a buildup of inventory.
Analyst reaction to Tesla’s numbers was mixed.
“For bulls, the growth story is alive and well,” Bernstein’s Toni Sacconaghi, who has an underperform rating on the stock, wrote in a note on Thursday. “For bears, the numbers don’t lie.”
In early January, Tesla reported fourth-quarter vehicle deliveries and production that fell shy of expectations.
Tesla’s stock jump came amid a broader market rally. The S&P 500 was up 2.2% for the week and the Nasdaq gained 4.3%.
Rival electric car manufacturer Lucid spiked on Friday as well, rising 43% on reports of rumors that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private.
Some of Tesla’s underperformance last year was attributed to Musk’s shift of focus to Twitter, which he acquired for $44 billion in October. Under Musk’s leadership, Twitter has experienced mass layoffs and fleeing advertisers, gutting morale.
Tesla remains the second most-shorted stock in U.S. markets, behind only Apple, meaning that a large numbers of investors are betting on a decline. Over 94 million of the automaker’s shares are shorted, according to data from S3 Partners.
Despite the rally, active short selling continues, S3 managing director Ihor Dusaniwsky told CNBC. Short sellers view Tesla’s appreciation as having created “an overheated and overbought stock that is due for at least a short-term reversal,” he said. In the last week, S3 Partners said it’s seen a 3.9% increase in total shares shorted, while investors shorting the stock lost $4.3 billion over that stretch.
Technology1 year ago
Game consoles were once banned in China. Now Chinese developers want a slice of the $49 billion pie
Sports1 year ago
Team Europe easily wins 4th straight Laver Cup
Politics1 year ago
Yvette Cooper promoted and Lisa Nandy to shadow Gove on levelling up brief in Labour reshuffle
Politics1 year ago
Have the last few wobbly weeks seen a turning point for Johnson as PM?
Politics1 year ago
Govt minister says she ‘doesn’t believe’ Stanley Johnson inappropriately touched MP
Business4 months ago
Liz Truss’s ‘favourite’ economist says chancellor ‘took his eye off ball’ and ‘overstepped the mark’ with mini-budget
Sports3 months ago
‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
Videos4 months ago
World leaders come together for Queen Elizabeth’s funeral