Binance will release a new tool for tax!

Published on:

Sam Bankman-Fried lawyers reach agreement on use of messaging apps; North Korean hackers stole more crypto in 2022 than any other year; Binance will release new tool for tax.

Sam Bankman-Fried lawyers reach agreement on use of messaging apps

Attorneys for Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, have reached a settlement with prosecutors. Bankman-Fried, who has been banned from using messaging apps for a while, has agreed not to use encrypted and temporary messaging apps, including the Signal app.

However, according to the agreement, SBF will be able to use FaceTime, Zoom, iMessage, SMS, e-mail and Facebook Messenger applications.

In addition, it was stated that Bankman-Fried can also use the WhatsApp application under certain conditions. Bankman-Fried will also be able to use this application when the conditions are met for the SBF’s mobile phone to install tracking technology that automatically records and protects all WhatsApp communications.

On January 30, it was reported that Bankman-Fried contacted John Ray, the new CEO of FTX, trying to hear from current or former employees of Alameda Research.

However, on February 1, FTX and Alameda Research were barred from communicating with current or former employees so that the SBF could remain on bail pending trial.

SBF, on the other hand, has been under house arrest in California since late December. Bankman-Fried’s next hearing is expected next October.

North Korean hackers stole more crypto in 2022 than any other year

A leaked secret United Nations (UN) report revealed that North Korean hackers stole a record amount of cryptocurrencies in 2022.

Read more:  Cristiano Ronaldo sued for promoting Binance and unregistered securities

The report stated that only North Korea-linked hackers stole between $630 million and $1 billion worth of crypto assets in 2022. In addition, hackers were found to target the networks of foreign aerospace and defense companies.

The UN report also highlighted that cyberattacks are more sophisticated than in previous years, making it harder than ever to track down stolen assets.

According to independent officials, in the report submitted to the UN Committee, North Korea has used increasingly sophisticated cyber techniques to both access cyber-finance-related digital networks and steal potentially valuable information, including weapons programs.

North Korean hackers have been stealing more crypto than ever before. Source Chainalysis

According to a report by blockchain analytics company Chainalysis, the most hacking attacks were carried out by North Korea-related cyberattacks, with $1.6 billion in damage.

According to Chainalysis, $1.1 billion of said stolen assets were carried out in DeFi protocols. This situation is thought to be the driving force in the record DeFi attacks in 2022 and trigger it more.

Binance will release new tool for tax! 

Many countries are preparing to take steps to introduce taxation in the cryptocurrency market. Therefore, it is imperative that the stakeholders of the sector be prepared in this regard and facilitate the work of their users. Binance launched its tool called Binance Tax to make it easier for users to access their reports during the taxation period.

Binance released an announcement on February 6. In the published announcement, it was announced that the Binance Tax tool was launched. The tool is a tax reporting tool. By using this tool, users will be able to track crypto transactions more easily and quickly get the necessary reports during tax periods.

Read more:  $46 million stolen from KyberSwap DEX!

Binance Tax will allow users to download a tax summary report of their Binance account gains and losses during the year. These include spot purchases as well as crypto donations and blockchain-based fork rewards.

Users have been asking a lot of questions about their tax obligations lately. Binance also said that the new tool was released to answer these questions.

Binance Tax will expand to many global markets where Binance is located later in the year. However, the two countries selected for the pilot were France and Canada. The tool, which can only be used for information held on Binance platforms for now, may work in integration with other platforms in the industry in the future. The company underlined that this is in their plans.

The new tax reporting tool was not an unexpected move for Binance, which has always declared that it will act in line with global sanctions.

Sam Bankman-Fried lawyers reach agreement on use of messaging apps; North Korean hackers stole more crypto in 2022 than any other year; Binance will release new tool for tax.