Dear PointPay Family,
This week's news was interesting and diverse. In order not to get lost among the many headlines, we have selected for you the top 5 most important news of this week! Read them in TL:DR format to stay up to date and stay in the loop.
Unprecedented Data Breach Exposes Billions of Fresh Passwords
Cybersecurity experts have uncovered a record-breaking data breach exposing 16 billion login credentials across major global platforms like Apple, Google, Facebook, GitHub, and Telegram. Unlike previous leaks, this collection includes newly compromised, active accounts that pose a serious security risk.
The stolen data is neatly organized, making it easy for cybercriminals to launch large-scale phishing attacks and account hijackings. Researchers warn that the breach could lead to mass takeovers, as the credentials are fresh, structured, and ready for use in automated hacking tools.
Barron Trump's Crypto Wealth Faces Potential IRS Hit
Barron Trump, son of former President Donald Trump, may soon see his cryptocurrency earnings reduced by up to $15 million due to tax obligations. As a Web3 ambassador for World Liberty Financial (WLF), Barron has reportedly earned about $40 million through the family's crypto venture.
Launched in late 2024, WLF has quickly become a significant player, selling over $550 million in tokens. Despite his growing involvement in the business world, Barron remains a student at NYU. Close sources describe him as private and focused, balancing his studies and family commitments.
CoinMarketCap Hit by Wallet Drainer in Web3 Popup Scam
CoinMarketCap users were recently targeted by a supply chain attack that tricked visitors into connecting their crypto wallets via fake Web3 popups. The malicious popups appeared after hackers exploited a vulnerability in the site's homepage doodle image.
The attackers used this security gap to inject harmful code, which drained funds from users' wallets. CoinMarketCap confirmed the breach was quickly addressed, and security measures have since been strengthened. The attack resulted in over $43,000 stolen from at least 110 users.
Texas Leads Nation with First State-Backed Bitcoin Reserve
Texas has become the first US state to officially invest public funds in Bitcoin, setting aside $10 million to create a dedicated Bitcoin reserve. Signed into law by Governor Greg Abbott, this move highlights Texas' commitment to integrating digital assets into its financial strategy.
The reserve will be independently managed and protected by new legal safeguards to prevent accidental spending. Unlike other states that approved similar plans without follow-through, Texas has taken real financial steps, positioning itself as a leader in the future of state-backed crypto assets.
Google's Quantum Progress Raises Future Concerns for Bitcoin Security
Google's latest quantum computing breakthrough has significantly reduced the resources needed to break traditional encryption, raising long-term concerns for cryptocurrency security. The company now estimates that just one million qubits, instead of 20 million, could be enough to compromise systems like RSA.
Although Bitcoin currently uses different cryptographic methods, experts warn its protections could also become vulnerable to quantum computers in the future. While there's no immediate threat, the industry agrees that Bitcoin will eventually need to adopt more advanced, quantum-resistant security to stay safe.
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