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North Korean crypto hackers tried to launder $60 million through Railgun mixer

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North Korean hackers crypto

North Korean crypto hackers from Lazarus Group tried to launder cryptocurrency stolen in the Harmony Bridge cross-chain hack through a Railgun mixer. This was reported on his Twitter page by onchain researcher @zachxbt. According to him, hackers used the Railun mixer to launder about 41,000 ETH (over $60 million).

The North Korean hacker army tried to confuse the transfer history by distributing the stolen cryptocurrency among different wallets. However, the onchain researcher was still able to trace over 350 addresses involved in the cryptocurrency laundering scheme.

According to their data, North Korean hacker Lazarus Group deposited the laundered cryptocurrency into the deposit accounts of three cryptocurrency exchanges. The researcher didn’t specify which cryptocurrency exchanges they were referring to. According to them, the hackers were laundering cryptocurrency last weekend (January 14 to 15).

However, hours after @zachxbt publicly claimed cryptocurrency laundering through certain cryptocurrency exchanges, Binance CEO Changpeng Zhao tweeted that cryptocurrency stolen in the Harmony Bridge hack was being laundered through Huobi. At the time of writing, Huobi representatives had no comment on the cryptocurrency laundering allegations.

In December, analysts at blockchain firm Elliptic ranked the Railgun mixer second on their list of dangerous cryptocurrency businesses. In addition to Railgun, cryptocurrency has also been laundered through Buccaneer V3, White Ethereum (White Wash ETH), 0xTIP, Messier 87 Black Hole and Cyclone Protocol after U.S. authorities imposed sanctions against Tornado Cash.

As a reminder, Harmony Bridge cross-chain was hacked in the summer of 2022, stealing $100 million from the project. In May 2019, the project held an initial coin offering (ICO) in partnership with Binance. Horizon Bridge allows customers to swap cryptocurrency with other blockchains such as Ethereum, Bitcoin and BNB Chain (formerly Binance Smart Chain).

We previously reported that more than half of the transactions on cryptocurrency exchanges turned out to be cryptocurrency manipulation.

Cryptocurrency

Bitcoin Investors Favor Accumulation Over Distribution Amid Price Surge: Glassnode

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In the past two months, Bitcoin investors have favored accumulation over distribution. BTC’s price movement this week did not change that.

Despite the asset hitting new highs this week, there is still a supply crunch, indicating that investors would rather accumulate than distribute their holdings. The market research firm Glassnode reported that these investor moves suggest they see current prices as offering relatively compelling value.

Bitcoin Investors Are Accumulating

Analyzing the raw Accumulation Trend Score, Glassnode discovered that this intense accumulation wave emerged when BTC first rallied past $100,000. After the breakout, investors gradually began to distribute more, and this gave way to stalled price action for a while.

Following the all-time high (ATH) of over $111,000 in May, BTC saw renewed accumulation pressures, which have remained elevated since then. The accumulation metric hovered above its historical average even as BTC sat through an extended consolidation phase. It is still above the average.

“This suggests that investors increasingly see the current range as a more favorable environment, despite price conditions being similar to those during the previous distribution phase in late-2024,” Glassnode said.

Long-term Holder Supply Grows

The persistent accumulation among investors is evident in the growing long-term holder (LTH) BTC supply. Evaluating the 30-day growth in LTH supply, Glassnode discovered that accumulation by this investor cohort is outpacing the monthly coin issuance. Miners are producing about 13,400 BTC monthly, but LTHs are increasing their balances at a pace of 19,300 BTC per month.

Bitcoin investors holding less than 100 BTC are also in accumulation mode. The cohorts, categorized into Shrimps (<1 BTC), Crabs (1–10 BTC), and Fishes (10–100 BTC), represent investors ranging from retail participants to high-net-worth individuals.

This accumulation trend suggests that supply-side conditions are tightening, with LTHs absorbing newly issued supply at a fast pace. Glassnode noted that these investors have become price-insensitive as they accumulate and are unwilling to distribute their assets at current market prices. Analysts believe they are waiting for more meaningful market action before they start distributing.

Meanwhile, on-chain and derivatives market indicators are flashing signals of elevated volatility in the coming weeks. The supply-side tightening has made the market susceptible to demand shocks, and moderate fluctuations can trigger significant price volatility. Glassnode said the coiling and compression of prices across multiple timeframes support this observation.

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XLM Skyrockets 70% in a Week, Hits $0.40 on Upgrade Buzz

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TL;DR

  • XLM leads the top 20 crypto assets with a 26% daily surge and a 70% weekly gain amid strong volume.
  • Protocol 23 upgrade vote set for August 14, expected to improve network speed and efficiency.
  • Franklin Templeton tokenizes $446M on Stellar; DeFi TVL jumps 21%, boosting investor confidence.

XLM Price Leads Market with 25% Daily Gain

Stellar (XLM) surged 25% in the last 24 hours, reaching a price of over $0.4. The move brought it to the critical resistance level once again after the initial quarter of 2025. XLM now stands at a 70% increase over the past seven days, making it the top-performing asset among the 20 largest cryptocurrencies.

Consequently, the 24-hour trading volume crossed $2.2 billion, showing strong interest from market participants. The surge coincides with a broader market rally led by Bitcoin, alongside key developments within the Stellar ecosystem.

Protocol 23 Upgrade Drives Investor Interest

Purchasing interest towards XLM has spiked as users wait in anticipation of the next Protocol 23 update. The proposal will be voted on on the Stellar mainnet on August 14, 2025. It proposes modifications to the execution of transactions and state management upon the Soroban, which is a smart contract platform of Stellar.

The upgrade is designed to improve network speed and performance. It comes after steady growth across the Stellar ecosystem and growing use in real-world applications.

In addition, technical analysis shows XLM has broken above a long-standing downtrend line that had been in place since 2021. This triggered an impulsive rally and signaled accumulation by buyers. According to analyst Javon Marks, XLM is targeting $0.681 as the next resistance level. If it is breached, the price could advance toward $1.2918.

The altcoin is currently trading above the upper Bollinger Band, indicating strong upward momentum. The 20-day simple moving average at $0.2599 was surpassed during the breakout.

The Money Flow Index sits at 90.12, reflecting overbought conditions and increased volatility. A short-term pause or pullback remains possible if buying pressure slows.

XLM price chart
Source: TradingView

Institutional Activity and On-Chain Growth

Meanwhile, institutional participation keeps growing with Franklin Templeton lately tokenizing 446 million U.S. Treasuries on the Stellar blockchain. This step highlights the increasing trust in Stellar by asset tokenization.

DeFiLlama reports that Stellar’s Total Value Locked (TVL) in decentralized finance rose 22% in the past 24 hours, reaching $120.25 million. The increase adds to the bullish sentiment and supports the current market momentum.

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Will Ripple Shift to Full XRP Control? Bitwise CEO Thinks So

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TL:DR

  • Ripple controls 42% of XRP supply, raising talk of a corporate pivot toward treasury-like operations.
  • Bitwise CEO suggests Ripple may become an XRP treasury firm as holdings grow rapidly.
  • RLUSD stablecoin custody by BNY Mellon boosts Ripple’s push into institutional digital asset services.

Ripple’s Growing XRP Holdings Raise New Questions

Ripple may be transitioning from a payments-focused company to one with deeper ties to XRP as a reserve asset. According to Bitwise CEO Hunter Horsley, the company could be referred to as an “XRP treasury company” within the next year. This suggestion follows increasing corporate interest in holding XRP and the firm’s growing influence over the token.

Ripple’s Q1 2025 XRP Markets Report stated that the company currently holds 4.56 billion XRP. Additionally, a large portion of XRP’s total supply—roughly 42%—remains under its control through monthly escrow releases.

While the escrowed XRP is managed by on-chain contracts, its long-term release structure continues to tie Ripple closely to the asset.

XRP Holdings Fuel Talk of a Corporate Pivot

Ripple CEO Brad Garlinghouse has publicly questioned the company’s $11 billion valuation, suggesting it doesn’t account for Ripple’s massive XRP holdings.

“That $11 billion number is very outdated,” Garlinghouse said in a previous statement, pointing to the company’s roughly $100 billion XRP-linked balance.

Meanwhile, this shift comes at a time when several public companies are exploring XRP treasury strategies. Trident Digital Tech Holdings is aiming to raise $500 million worth of XRP. Webus International has outlined a $300 million goal, while VivoPower and Wellgistics Health have secured $121 million and $50 million, respectively, in XRP for corporate reserves.

Stablecoin Efforts Continue with New Custody Deal

Ripple’s growing interest in digital assets extends beyond XRP. Its stablecoin, RLUSD, has reached a market cap of over $500 million. The company has tapped Bank of New York Mellon (BNY Mellon) to serve as custodian for it.

The oldest bank in the United States, is known for supporting digital asset custody services. Ripple’s choice adds traditional financial credibility to its stablecoin operations across XRPL and Ethereum.

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