What Happened in Crypto Last Week?

Key Insights

• Pump.fun suspended its livestream feature after disturbing user behavior, ranging from suicide, violence, and child abuse to outright genocide.
• Bank Al-Maghrib, Morocco’s central bank, is considering a CBDC and plans to legalize Crypto after banning it in 2017.
• ZachXBT revealed that a former pro Fortnite player might have been involved in a series of Twitter account hacks and memecoin scams totaling $3.5 million.
• November saw $71 million stolen in crypto hacks, bringing the 2024 total across defi platforms to $1.48 billion.
• Security experts identified over 8,620 Solana wallets linked to the $21 million DEXX hack, the second most severe incident in November.

The memecoin market has always been known to contain a few “crazy” people. But how crazy can “crazy” get?

Last week, Pump.fun, the Solana-based memecoin creation tool, was forced to discontinue its livestream feature after a user threatened to commit suicide—on livestream

There were also reports of a former pro Fortnite player allegedly helping steal $3.5 million from memecoin scams.

Another insane story was how experts at MistTrack reportedly identified over 8,620 Solana wallets connected to the DEXX hacker, who stole a whopping $21 million in mid-November.

Overall, Immunefi reports that $71 million worth of losses occurred during the month, with the total theft score hitting nearly $1.5 billion for 2024.

In more positive news, though, the Moroccan central bank is set to legalize all cryptocurrencies, according to Reuters.

Here are some of the major events in Crypto over the last week.

Crazy Pump.Fun Users Force Suspension of Livestream Feature

Last week, on 25 November, Beau, a safety project manager at Pudgy Penguins, drew attention to something disturbing in a tweet.

It turned out that someone using Pump.fun’s live stream feature was threatening to commit suicide—specifically to hang themselves—if their coin did not reach a set market cap.

This is similar to other stories of rug pulls, violence, genocide, and other vices on the platform for the sake of pumping one coin or the other.

It is similar to other reports of a certain individual who claimed that they would “shoot up a school” if their memecoin didn’t go up, or another—a child—who threatened to “kill their family members” if their memecoin didn’t pump, amid other disturbing displays.

Eventually, after intense backlash from the Crypto community, the platform decided to shut down this feature until further notice.

Moroccan Central Bank to Legalize All Cryptocurrencies

According to reports from Reuters, Bank Al-Maghrib, the central bank of Morocco, is moving towards legalizing Crypto.

According to Reuters, the bank’s governor, Abdellatif Jouahri, said that Bank Al-Maghrib was “preparing a draft [that will] regulate crypto assets, which are currently in the adoption process.”

Recall that the Northwest African country issued a nationwide ban on Bitcoin and all other cryptocurrencies in November 2017, seven years before their re-legalization.

This comes amid worldwide Crypto adoption and an uptick in institutional interest within the sector.

According to Reuters, Jouahri also mentioned that the Moroccan central bank is exploring its own CBDC, much like many other countries around the world.

With this bullish news for Crypto in general, what comes next for the sector in Morocco and the rest of the world remains to be seen.

A Former Pro-Fortnite Player Helped to Steal $3.5 Million

Last week revealed something interesting from independent blockchain sleuth, ZachXBT.

According to one of his independent investigations, ZachXBT claimed to have found links between a former Australian Fortnite player and several hacked Twitter (X) accounts.

According to the thread published by the investigator on 27 November, these accounts were used to carry out scams worth $3.5 million from memecoin rug pulls.

The pro-Fortnite player in question was expelled from Overtime, an ESports organization, in June 2020 for cheating.

Interestingly, ZachXBT said that the hacked accounts included some well-known ones, including Usher, McDonald’s, Dean Norris, Andy Ayrey, and others.

Crypto Hackers Stole $71 Million In November

Hackers have run off with nearly $1.5 billion worth of funds this year, according to Immunefi.

In its latest report detailing November’s Crypto losses, the Crypto security firm noted that Crypto hackers stole as much as $71 million worth of funds within the month.

These hacks, which occurred throughout the year, were spread across as many as 209 incidents, with 26 of these occurring in November alone.

The $71 million theft marks an encouraging 15% decline year over year for November 2023 compared to November 2024.

Immunefi noted that two incidents in November caused the most losses, including Thala Labs (which lost $25.5 million) and DEXX (which lost $21 million).

Overall, Defi hacks were worse than Cefi’s, with 100% of the 26 cases targeting decentralized finance platforms.

BNB chain is reported as the most targeted network after being responsible for 46.7% of the total losses.

Security Experts At MistTrack Identified Over 8,620 Solana Wallets Linked to $21M Dexx Hacker

Speaking of the aforementioned November report from Immunefi, Thala Labs and DEXX were two of the worst-hit protocols, with Thala losing $25.5 million and DEXX losing $21 million.

According to a report from blockchain security firm MistTrack last week, the hacker responsible for the DEXX incident stole between $10,000 and $1 million from over 900 users.

MistTrack has identified as many as 8,600 addresses associated with this hacker.

On the other hand, DEXX has announced on X that it is monitoring the hacker’s wallets and trying to freeze the money after the incident.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.