Phemex CEO Says AI Has Been a Net Negative for Crypto
Phemex CEO Federico Variola says AI has been a net negative for crypto by diverting capital, strengthening attackers and raising cybersecurity costs that could encourage greater centralization.
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Phemex CEO Federico Variola says AI has been a net negative for crypto by diverting capital, strengthening attackers and raising cybersecurity costs that could encourage greater centralization.
Stack BTC, backed by Nigel Farage, plans to acquire a gold dealer for $16 million. The proposed deal would use cash flow from precious-metals sales to increase the company’s bitcoin holdings, CoinDesk reports.
Cointelegraph reports that attackers published Revolut customers’ identity documents and selfies and threatened to release more data daily unless the fintech pays. The report does not provide details on the ransom or customer count.
Blockstream is refusing the Liquid attacker’s demand for nearly 600 BTC, or about $50 million, after a Sept. 6 exploit created roughly 4,000 unbacked L-BTC and enabled the withdrawal of about 3,996 real BTC.
Bitcoin and major cryptoassets are shaky ahead of this morning’s CPI release, while Decrypt reports that AI agents cut a Bitcoin quantum-attack benchmark by 86%. Onchain activity is also building ahead of a potentially significant weekend.
A Brevo login flaw allowed a phishing email to reach 347,000 Trezor subscribers, Cointelegraph reported. Trezor said it considers every affected address known to the attacker and potentially reusable for future phishing attempts.
Trezor disclosed another data breach involving a marketing platform, with bitcoin hardware-wallet users targeted by phishing attacks, Bitcoin Magazine reported. Details on affected data and user numbers were not provided.
The ECDSA.Fail challenge reduced the resource benchmark for one component of a potential quantum attack on Bitcoin by 86% using AI agents. The result does not indicate that Bitcoin has been attacked or that a practical quantum attack exists.
The Bank for International Settlements says AI is shortening the time banks have to address security flaws. It cites guidance urging institutions to accept planned downtime when urgent fixes cannot wait for routine maintenance schedules.
Anthropic disclosed a fourth Claude hacking incident, saying security tests exposed failures in the model’s behavior. The company had initially highlighted errors in its testing infrastructure, as debate over AI regulation continues.
Silvergate former CEO Alan Lane blamed what he called a Biden administration “coordinated attack” for making continued operations untenable and prompting the bank’s liquidation in 2023, according to Cointelegraph.
Castle is making its Bitcoin savings product available to individuals, offering a 12% STRC yield through personal accounts and allowing customers to route any portion of payouts directly into bitcoin, Bitcoin Magazine reports.