It has been an eventful week in the crypto world, featuring everything from million-dollar hacks to billion-dollar deals. A U.S. government crypto wallet that previously held seized Bitfinex funds was hacked, leading to a loss of $20 million.
This shocking incident reinforces the need for secure and reliable crypto wallets. Plus Wallet is stepping up to meet this demand, offering advanced security measures to protect users from malicious activity. Users have also taken advantage of its passive income model, earning rewards for every trade without worrying about the safety of their assets.
In other major news, Stripe has acquired the stablecoin platform Bridge for approximately $1.1 billion, highlighting the growing importance of stablecoins in the expanding market.
U.S. Government Crypto Wallet Hack: $20M Stolen!
A U.S. government crypto wallet, which previously held funds seized from Bitfinex, was reportedly hacked on Thursday, resulting in a loss of $20 million. Hackers drained various cryptocurrencies, including Tether (USDT) and Ethereum (ETH). Reports suggest the hacker converted stablecoins to ETH before moving them to multiple addresses labelled as “Binance Deposit.”
Blockchain intelligence firm Arkham noted that the hacker has started laundering the stolen funds through suspicious channels. Interestingly, just before the hack, the government withdrew $5.4 million and $1.12 million in Tether from the Aave platform, marking their first activity on the wallet in eight months.
Stripe Acquires Bridge: A $1.1 Billion Stablecoin Deal
Stripe has acquired the stablecoin platform Bridge for approximately $1.1 billion, marking one of the largest deals in crypto history. This move suggests that stablecoins could be key for increasing liquidity in crypto markets and making traditional finance (TradFi) more efficient.
The acquisition comes shortly after Stripe announced it would resume accepting crypto payments in the US using stablecoins. Bridge CEO Zach Abrams shared his excitement about joining forces, while Stripe CEO Patrick Collison emphasized their goal to build top-notch stablecoin infrastructure, showcasing the importance of this deal for both companies.
Plus Wallet: Strong Security with Easy Passive Income
As profit potential in the crypto market has grown, so have attacks from hackers—who use various tactics to drain users’ wallets. In this risky environment, regular crypto wallets just don’t cut it for security. However, Plus Wallet is stepping up as a promising solution, offering premium features designed to keep assets safe from these threats.
Plus Wallet uses strong encryption and stores private keys directly on the user’s device. This setup ensures that only the user can access their funds, and not even Plus Wallet can see this information.
Another important part of using the wallet is the recovery phrase, which is needed for access if users forget their private key. Losing this phrase can mean losing funds permanently, so secure backups are essential. Plus Wallet also boosts security with Face ID and PIN code authentication, keeping assets secure even if users’ device is compromised.
Setting up the wallet is simple: download the app, follow easy instructions to create their wallet, set the recovery phrase and that’s it. Once set up, Plus Wallet’s user-friendly interface allows both beginners and experienced users to manage their assets effortlessly.
Along with strong security, Plus Wallet offers dual passive income streams and cross-chain support for major networks like Bitcoin, Binance, and Ethereum. With a strong focus on user benefits at every turn, Plus Wallet claims the number one spot as one of the top crypto wallets of 2024.
The Top Crypto Wallet For Security In 2024
Stripe’s $1.1 billion acquisition of Bridge shows stablecoins’ promising role in the future of crypto and traditional finance. Meanwhile, the recent $20 million hack of a U.S. government crypto wallet demonstrates that even major accounts are not safe from advanced hacking.
Users looking for long-term gains in the crypto market must choose wallets that offer effective security measures. Plus Wallet stands out with its multiple security features and built-in rewards model. It provides necessary protection while still offering valuable benefits to users. Those seeking a secure and rewarding wallet need to look no further, Plus Wallet delivers across the board.
Explore Plus Wallet:
Website: https://pluswallet.app/
Download: https://onelink.to/pluswalletapp
Twitter: https://x.com/pluswalletapp
Instagram: https://www.instagram.com/pluswallet.app/
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.