The final week of 2024 marked notable developments in the cryptocurrency sector, chief among them Ethereum co-founder Vitalik Buterin’s adoption of a viral internet sensation, the pygmy hippopotamus Moo Deng, with a generous donation to a Thailand zoo. The donation totaled 88 Ether, equivalent to around $292,000, signaling Buterin’s interest in wildlife sponsorship.
In financial news, James Howells continued his legal battle to retrieve a hard drive containing private keys for over 8,000 Bitcoin, valued at approximately $773 million. Misplaced in a landfill in 2013, the Bitcoin represents holdings from the cryptocurrency’s early days. Despite facing an ongoing legal confrontation with the Newport City Council over access impediments due to environmental concerns, Howells remains hopeful about reclaiming the lost assets. Should he succeed, he plans to invest in blockchain projects and benefit the crypto community.
Internationally, 15 North Koreans were sanctioned by South Korea over their involvement in cryptocurrency thefts, reportedly aiding North Korea’s missile development funding. These hackers, affiliated with notorious groups like the Lazarus Group, have been implicated in high-profile cyber heists, such as the $600 million Ronin network breach.
Meanwhile, cyber theft in the crypto space reached alarming levels in 2024, with losses exceeding $2.3 billion from 165 incidents. This marked a 40% increase from the previous year, highlighting significant vulnerabilities in centralized exchanges and crypto custodians.
On the Solana network, the Jito staking pool surpassed $100 million in monthly tips from priority fees, reflecting the network’s growing popularity and the increased earnings from optimizing transaction prioritization known as Maximum Extractable Value (MEV).
In the decentralized finance (DeFi) market, most top cryptocurrencies posted gains for the week. Bitget Token emerged as the biggest winner with an 81% increase, driven by a recent token merger. Virtuals Protocol came in second, showing a 51% rise.
This recap of the week’s crypto activities underscores the field’s dynamic evolution, with both promising developments and ongoing challenges.
