USDT News: Lazarus Group Suspected in Major Tron Hack; Regulatory Pressures on Stablecoins Rise

In the ever-evolving world of cryptocurrency, recent events have once again highlighted the vulnerabilities and regulatory challenges faced by digital assets. Here’s a closer look at a major hack involving USDT on the Tron blockchain and the growing regulatory scrutiny on stablecoins.

Lazarus Group Suspected in $3.1M Tron Hack

A new victim has been hacked on Tron, leading to a loss of about $3.19M in USDT. The stolen funds were transferred to Ethereum, split among 10 addresses, and deposited into Tornado Cash. Crypto sleuth ZachXBT attributes this hack to the North Korean Lazarus Group. The hacker reused a theft address from the Michael Kong (Fantom/Sonic CEO) hack in October 2023.

Regulatory Pressure Mounts on Stablecoins, Time to Embrace Decentralized Alternatives?

The start of 2025 has been challenging for stablecoins. The EU’s MiCA regulation led to European exchanges delisting Tether’s USDT and other non-compliant stablecoins. The U.S. introduced the GENIUS Act with stringent rules for issuers. Stablecoins, except for USDC, are under intense scrutiny. Despite this, market participants prefer USDT over USDC due to its crypto collateral. The regulatory landscape is rapidly evolving for stablecoins.

Binance to Delist USDT Trading Pairs in EEA

Binance will remove all spot trading pairs that include USDT for users within the European Economic Area (EEA) effective March 31, 2025. This change is in preparation for the upcoming Markets in Crypto-Assets (MiCA) regulations within the European Union. However, Binance emphasizes that this adjustment only affects trading and not user funds, as deposits and withdrawals will remain open. Users will no longer be able to directly trade USDT against other cryptocurrencies or fiat currencies on the Binance spot exchange after the specified date.