El Salvador is reportedly nearing a $1.3 billion loan agreement with the International Monetary Fund (IMF), contingent on modifications to its Bitcoin Law.
The proposed deal, expected to finalize within weeks, would make Bitcoin acceptance optional for businesses, rather than mandatory. The Financial Times cited sources stating the arrangement could also unlock $2 billion in additional funding from the World Bank and the Inter-American Development Bank.
Radiant Capital Hack Tied To North Korea
This marks a significant shift for El Salvador, the first country to adopt Bitcoin as legal tender in 2021. The IMF has consistently opposed the move, citing financial stability risks. Talks regarding the loan and potential legal changes began in October. Meanwhile, Radiant Capital revealed on Dec. 6 that an October hack stealing $50 million was linked to a North Korea-aligned group.
According to Radiant, a hacker impersonated a former contractor, sending malware-laden files via Telegram. The cybersecurity firm Mandiant attributed the attack to a North Korean threat actor. Radiant explained that the malware, once shared among developers, enabled the intrusion.
In another incident, the Cardano Foundation’s X (formerly Twitter) account was hacked on Dec. 8. The attacker posted phishing links promoting a fraudulent token, “ADAsol,” which generated $500,000 in trading volume before crashing.
The hacker later claimed the Foundation would cease support for ADA due to U.S. regulatory scrutiny. Both posts have been removed, and the Foundation is working to secure its account. Users are advised to avoid interacting with the account until further notice.
These developments highlight ongoing challenges in crypto adoption, cybersecurity, and regulation.
