Here’s what happened in crypto today – Cointelegraph

The United States securities regulator has reissued a warning to investors about crypto "FOMO" days ahead of the anticipated approval of spot Bitcoin ETF. Hackers from North Korea stole $600 million worth of cryptocurrency in 2023, and crypto traders have gambled $1.5 million on what the eagerly awaited results of potential Bitcoin (BTC) exchange-traded fund (ETF) approval results may be.

The United States Securities and Exchange Commission (SEC) has reissued a warning about FOMO crypto investing only days ahead ofthe anticipated approval of spot Bitcoinexchange-traded funds.

In a Jan. 6 post to X (formerly Twitter), the SECs Office of Investor Education again warned retail investors of the risks associated with digital assets, including meme stocks, cryptocurrencies, and nonfungible tokens (NFTs).

One of the first appearances of the Say no go to FOMO blog post came on Jan. 23, 2021, amid a roaring crypto and equities bull market that saw Bitcoin, Ether (ETH) , and many other altcoins reach new all-time highs by November 2021. The warning was issued again around March 2022 when the markets were cooling.

Several users across social media theorized the report could suggest the SEC is soon to approve one or more spot Bitcoin ETFs, which is currently awaiting a decision sometime before a Jan. 10 deadline.

Hacker groups associated with North Korea siphoned $600 million worth of digital assets in 2023, according to blockchain intelligence firm TRM Labs.

The Jan. 5 report suggested that North Korean hackers may have stolen up to $700 million worth of crypto, though only $600 million was confirmed. Since 2017, North Korean hackers have stolen roughly $3 billion worth of crypto.

According to TRM Labs, North Koreas money laundering methods are constantly evolving to evade international law enforcement pressure. These hackers usually target users private keys or seed phrases before transferring the stolen funds into North Korea-controlled wallets. The funds would eventually be swapped for Tether (USDT) or Tron (TRX).

North Koreas hacking prowess demands continuous vigilance and innovation from business and governments, TRM Labs said.

As the crypto community eagerly awaits the SECsdecision on spot Bitcoin ETF applications, some traders are using this time of suspense to gamble on whether they will be approved by Jan. 15.

At the Polygon-based gambling site Polymarket, traders have placed their Yes or No bets on whether the applications will be approved. At the time of writing, around $1.5 million worth of bets have been placed, with most of the traders buying shares of Yes.

The value of a share, which represents the odds of whether the result will be a yes or a no, fluctuates similarly to the crypto market. At the time of writing, the cost of a Yes share is $0.79, while a No share is $0.21. One of the top holders, with the pseudonym Kiwi, holds around $421,000 of Yes shares. On the other hand, the top holder for No holds only around $15,000 in No shares.

According to Polymarket, the market will resolve to Yes if any spot Bitcoin ETF receives approval from the SEC by Jan.15, at 11:59:59 pm Eastern Time. Otherwise, this market will resolve to No. This means holders of either bets will see their earnings or losses by the deadline set.

The site says the primary resolution source for the market will be information from the SEC. However, it added that a consensus of credible reporting may also be used to resolve the market.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Here's what happened in crypto today - Cointelegraph