WeChat hackers use victims’ friends to steal crypto. South Korean exchange Korbit denies hack after 12-hour maintenance. Chinese social media influencers have been targeted in a wave of WeChat account hacks, with attackers suspected of exploiting the messaging platforms security feature meant to keep them out. Since April, multiple victims claim hackers gained access to their WeChat login credentials and then triggered the platforms friend verification system. This security feature, one of three login options on WeChat, allows a users contacts to receive verification requests on their behalf when logging into a new device. Its intended as a backup when SMS or QR code authentication is unavailable. Cos, co-founder of blockchain security firm SlowMist, broke down the method in a June 17 post on X. He noted that attackers appear to target contacts with whom victims had minimal interaction, increasing the chances those users might mindlessly approve the request and forward the code. Read more
The platform launched the betting market for the GENIUS Act after the US Senate passed it on Tuesday. Cryptocurrency users are betting on the odds that US legislation to regulate payment stablecoins will move forward, following a crucial vote in the Senate and a public push from President Donald Trump to “get it to [his] desk.” As of Thursday, the online betting platform Polymarket shows an 89% chance of the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, passing the US Senate and House of Representatives and being signed into law by the president before 2026. The Polymarket bet seemed to have been launched roughly 18 hours after the bill passed in the Senate in a 68-30 vote on Tuesday. It’s unclear whether the bill will have enough support to pass the House in its current form or whether lawmakers could add amendments to address concerns over Trump’s connections to the crypto industry, including World Liberty Financial’s stablecoin, USD1. A majority of senators voted against ...