The latest wrap-up in the blockchain world is here on CryptoWatch, with the biggest news centering on the top-grossing coin of all time, Bitcoin, forecasted to reach $80,000 this year, as it saw a massive rally before last week ended. However, there are still massive attacks present in the market, as it was allegedly claimed that North Korea had laundered as much as $147.5 million in stolen crypto.
On the other hand, the US Federal Bureau of Investigation (FBI) has successfully arrested the alleged thieves behind an Ethereum attack.
Bitcoin is Rallying; Forecast Predicts $80,000 Value
After a slump since early May, Bitcoin was found to be rallying yet again in the charts. The coin's valuation has skyrocketed as much as $10,000 since its $57,000 drop this month. The coin is now at $68,000 and has stayed that way over the weekend, prompting hopefuls to find, yet again, a new hope for the coin's future growth.
In a recent report by CoinGape, the industry experts and speculators did not change their forecast for Bitcoin regarding its possible $80,000 valuation to achieve within the year. While that is still $12,000 away, the massive support and lifeline it got from when it dropped prevented it from seeing itself in another slump.
Earlier last March, Bitcoin reached an all-time high of as much as $73,000 before dropping to the $60,000 area and down to its lowest point below $58,000 this May.
It also came alongside the SEC approval of spot Ethereum ETFs, but it is not believed that this influenced the top coin's rally.
North Korea Allegedly Laundered Stolen Crypto
There is now a new report from the United Nations that it believes North Korea has allegedly laundered the stolen cryptocurrency it got ahold of via Tornado Cash, a virtual currency platform. It is also believed that this took place last March, following its attack against a cryptocurrency exchange which was not named.
It was reported that North Korea's attack happened last year, with 97 suspected cyberattack cases linked to the country against crypto firms. The dictatorial state took $147.5 million, and this figure alone was taken from HTX cryptocurrency before being laundered earlier this year.
According to estimates, North Korea committed 11 crypto thefts in 2024 alone, resulting in illicit digital holdings worth $54.7 million. The UN also believed that North Korean IT workers have been operating globally to generate income for the country.
FBI Arrests Alleged Thieves Behind ETH Attack
The FBI arrested two brothers believed to be behind an Ethereum attack, one that amounted to $25 million worth of cryptocurrency allegedly stolen by the pair. This centers on a scheme where it defrauded the Ethereum blockchain, exploiting its systems that allowed them to steal the massive figure that took them only 12 seconds to do.
Boston native Anton Peraire-Bueno and James Pepaire-Bueno of New York were charged with conspiracy to commit wire fraud, money laundering, and wire fraud in their indictment.
This heist has cast doubt on Ethereum's integrity, particularly as the brothers have used their computer science and mathematics expertise to enact this scheme against the blockchain.
