Search results for ZachXBT
Crypto
U.S. musician loses 5.9 bitcoin after entering recovery phrase into fake Ledger Live app
Garrett Dutton, a U.S. musician known as G. Love, said he lost 5.9 bitcoin worth $420,000 after installing a malicious app impersonating Ledger Live that he downloaded from Apple’s App Store. He said he entered his wallet recovery seed phrase and his holdings were taken. ZachXBT said the bitcoin moved through nine transactions to a KuCoin-related deposit address. The FBI said U.S. crypto losses exceeded $11 billion in 2025.
Crypto
Circle pushes EURC to step up UK push as debate grows over why it gained early lead
Circle is expanding its influence in Europe’s stablecoin market with its euro-backed stablecoin EURC, prompting debate over whether the gains reflect product competitiveness or regulatory and policy shifts. DeFi analyst Ignas calls it “Europe’s failure” and says Circle benefited from MiCA, claiming it secured licensing and rapidly lifted market share. He also links the trend to digital euro discussions and argues Circle is pursuing a similar approach in the UK. Critics also question Circle’s response to a Solana-based Drift Protocol hack.
Crypto
Drift $285 million hack sparks dispute over Circle USDC freeze authority
A $285 million hack of Drift has fuelled debate over whether Circle should have acted more aggressively to block fund movements, CoinDesk reported on Thursday. Blockchain security firm PeckShield said the attacker stole about $71 million in USDC, converted most assets into USDC and used Circle\'s cross-chain transfer protocol to move $232 million worth of USDC from Solana to Ethereum, complicating recovery efforts.
