Category Archives: Allgemein

Hydro-Québec CEO Departs, Successor yet to be Named

• Sophie Brochu, the CEO of Hydro-Quebec, is officially stepping down in April after three years in the role.
• Hydro-Québec proposed suspending new power supply to the blockchain industry last year.
• The Board of Hydro-Québec will recommend a successor to the Québec Cabinet, but the name has not been released yet.

Sophie Brochu, the CEO of Hydro-Quebec – the utility company of the province of Quebec – is departing the firm on April 11, according to a Jan. 10 statement. Ms. Brochu has been with the firm for three years and was appointed the CEO in April 2020. During her tenure, she developed a new strategic plan that was accepted by many internal contributors and representatives of Québec society.

Last year, the utility firm proposed to Canada’s energy regulator to suspend the allocation of new 270 megawatts (MW) power supply, already planned for the blockchain industry. The company’s reasoning was that the industry was taking up too much power, which posed a threat to the province’s energy security. The proposal didn’t explicitly mention which part of that industry was being targeted, but the Canadian province has been an ideal place for crypto miners to set up due to its abundant supply of energy.

In response to the proposal, many crypto miners feared that their businesses would be affected and that the move would lead to a significant reduction in the industry’s presence in the province. However, the Québec Cabinet ultimately decided not to accept the proposal.

The Board of Hydro-Québec will recommend a successor to the Québec Cabinet, but the name of the candidate has not been revealed yet. Ms. Brochu’s departure will undoubtedly have implications for the company, and it remains to be seen how the new CEO will approach the blockchain industry. In the meantime, the utility firm will continue to supply power to the industry, as well as other businesses in the province.

Binance Launches Custody Service to Secure Institutional Investor Collateral

• Binance announced that it will allow institutional investors to post collateral from cold wallets with Binance Custody.
• The crypto exchange said that this will enable investors to keep their collateral off the platform and in cold storage.
• Once trades are settled, the assets would then become accessible to the user again.

Binance, the leading cryptocurrency exchange, announced on Monday that it will enable institutional investors to post collateral from cold wallets with Binance Custody. This will enable investors to keep their collateral off the platform and in cold storage, which can provide an extra layer of security for the assets.

Under the new service, institutional investors can place their assets in cold wallets which are kept off the internet and are thus much less vulnerable to hacking and other security threats. When the investor is ready to place a leveraged position, they can post the collateral from the cold wallet to the exchange, and once the trades are settled, the assets would then become accessible to the user again.

Binance said that its Custody service will provide a secure and reliable way to store and manage digital assets, while also allowing users to get the most out of their investments. The exchange said that its Custody service is designed to provide users with the highest levels of security and convenience, with a range of advanced features designed to protect user funds.

Furthermore, Binance said that its Custody service also provides users with access to a wide range of digital asset management tools, including asset tracking, automated trading, and portfolio risk management. Additionally, the exchange said that its Custody service is designed to provide users with the flexibility to develop their own asset management strategies, which can help them to maximize their investments.

Overall, Binance’s new Custody service is a welcome addition to the crypto community, as it provides institutional investors with an extra layer of security for their collateralized positions. This service will also allow users to get the most out of their investments, as they can access a wide range of asset management tools, as well as develop their own strategies.

$100M Harmony Network Hack Likely By Lazarus Group, Huobi Blocks Funds

• North Korea’s Lazarus Group is likely behind a $100 million hack on the Harmony Network.
• Over the weekend, the group moved $63.5 million (~41,000 ETH) from the hack.
• Crypto exchange Huobi blocked funds tied to the hack on Monday morning.

North Korea’s Lazarus Group is the likely perpetrator behind a $100 million hack on the Harmony Network, and over the weekend, the group moved $63.5 million (~41,000 ETH) from the hack. On Monday morning, crypto exchange Huobi blocked funds tied to the attack.

The news was reported by pseudonymous blockchain sleuth ZachXBT, who said on Twitter that the Lazarus Group had “a very busy weekend, moving $63.5 million (~41,000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing on three different exchanges.” The funds were moved before Huobi was able to block them.

The hack on the Harmony Network, which occurred in April 2020, was one of the largest in the history of blockchain. The hacker was able to exploit a vulnerability in the Harmony bridge, which allowed them to steal nearly 43,000 ETH from users. At the time, the value of the stolen funds was estimated to be around $100 million.

An analysis by blockchain research firm Elliptic revealed that the Lazarus Group was likely behind the attack. The group is believed to be responsible for a number of other high-profile hacks, including the WannaCry ransomware attack in 2017.

In response to the attack, Huobi blocked the funds on Monday morning and contacted the blockchain research firm to investigate the incident further. The exchange said that it is “committed to the safety of our customers’ funds,” and that they are “working to ensure that all stolen funds are recovered and returned to their rightful owners.”

The incident highlights the need for users to be vigilant when it comes to their crypto security, as malicious actors are constantly finding new ways to steal digital assets. In order to protect themselves, users should always make sure to store their funds in a secure wallet, and to use two-factor authentication wherever possible.