Today's Major Developments in the Cryptocurrency Sector
Owners of Apple Mac computers with M-series silicon chips might face security risks, as new reports suggest these devices are susceptible to hacks that could expose users' encryption keys. More alarmingly, it appears this flaw might be beyond repair.
Apple M-Series Chip Vulnerability Exposes Risk to Encrypted Data
A recent study conducted by university researchers in the United States has unveiled a critical weakness in Apple's M-series chips. This flaw could potentially allow nefarious individuals to gain access to secure encryption keys on MacBook models.
Published on March 21, the research highlights the issue as a side channel attack. This type of exploit could enable unauthorized acquisition of encryption keys during the execution of standard cryptographic operations by Apple's chips.
This vulnerability, however, is not just a typical software glitch that can be fixed with an update. It's ingrained in the silicon chip's microarchitecture, rendering it unfixable.
Possible End in Sight for Grayscale’s Record Outflows
Crypto asset manager Grayscale's Bitcoin Trust (GBTC) reported outflows of $358.8 million as of March 21. This follows a record-breaking week, with the largest single-day outflow on Monday reaching $642 million, according to Farside Investors.
The recent data marks a total weekly outflow of $1.8 billion for GBTC, amid consecutive days of negative net flows across all Bitcoin ETFs.
Despite these significant outflows and a relative decline in inflows to other Bitcoin ETFs, Bloomberg ETF analyst Eric Balchunas suggests this trend might be nearing its end. On March 21, Balchunas noted that the bulk of these outflows likely stem from the bankruptcies within the crypto sector. He predicts a tapering off in the coming weeks, foreseeing a more stable flow pattern similar to February's trends.
As of the latest update, Grayscale’s Bitcoin Trust holds assets totaling $23.2 billion under management, having lost $13.6 billion since its conversion to an ETF on January 11.
Former OneCoin Official Seeks 'Time Served' in Court
In a recent legal development, Irinia Dilkinska, the former head of compliance for OneCoin, is seeking a lenient sentence. Her attorney, John Buza, filed a request for 'time served' in the Southern District Court of New York on March 20.
Dilkinska, who admitted guilt in money laundering for OneCoin co-founders Karl Sebastian Greenwood and Ruja Ignatova, is currently facing the repercussions of her involvement in what was revealed as a $4 billion fraudulent scheme. The attorney’s filing emphasizes her unique position and current plight as grounds for a time-served sentence.
