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CRYPTO
$330 Million Bitcoin Stolen in Scam

A major crypto theft has shaken the community, with $330 million in Bitcoin stolen in what appears to be a sophisticated social engineering scam. New insights from blockchain analyst ZachXBT have revealed that the victim is an elderly individual from the U.S. While full recovery of the funds is unlikely, efforts by ZachXBT and Binance have frozen about $7 million of the stolen Bitcoin.

The theft likely occurred through a phone scam, where attackers convinced the victim to grant access to their crypto wallet. This manipulation, known as social engineering, bypasses security without exploiting technical weaknesses.

Further investigation has uncovered potential links to a fraudulent call center operation. ZachXBT pointed to two suspects: "X,". Both suspects have erased their online presence. As the investigation continues, digital sleuths are tracking wallet movements in hopes of identifying more culprits.

CRYPTO
Strategy Acquires 1,895 Bitcoin for $180M

Strategy (MSTR) acquired 1,895 Bitcoin last week for $180.3 million, with an average purchase price of $95,167 per Bitcoin. This raised the company’s average purchase price to $68,550 per Bitcoin across its entire holdings. Now, Strategy holds 555,450 Bitcoin, totaling over $38 billion in acquisitions.

Led by Executive Chairman Michael Saylor, the purchase was financed through the sale of $128.5 million in common stock and $51.8 million in STRK preferred stock. The common stock sale completed MSTR’s remaining $21 billion at-the-market offering for 2024, and the company introduced a new $21 billion ATM offering last week.

With Bitcoin’s current price around $94,000, Strategy’s Bitcoin holdings are now worth more than $52 billion. Despite the positive developments.

FINANCE
Buffett Praises Tim Cook’s Leadership

At Berkshire Hathaway’s annual meeting, Warren Buffett praised Apple CEO Tim Cook for his leadership, reflecting on the success of their investment in Apple. Buffett, known for his cautious approach to tech investments, saw Apple not just as a tech company but as a consumer goods giant, similar to Coca-Cola. Berkshire Hathaway’s Apple investment began in 2016, marking a rare tech foray for Buffett, who had long avoided the sector. By 2024, he was even Apple's largest investor outside of ETFs.

Buffett acknowledged the crucial role Cook has played since Steve Jobs' death, calling him the right successor to Jobs. He credited Cook with taking Apple to new heights, saying, “Tim Cook has made Berkshire a lot more money than I’ve ever made for Berkshire.”

Buffett’s admiration for Apple stemmed from the company’s ability to create products people loved. Over time, Apple became one of Berkshire’s most valuable investments, though the firm has recently reduced its stake.