Category: Crypto

A hacker has stolen $950,000 in ether from a crypto wallet via the same vanity address exploit linked to an attack on trading firm Wintermute last week. The hacker stole 732 ETH on Sept. 25 and sent it directly to the sanctioned cryptocurrency mixing service Tornado Cash, according to PeckShield citing on-chain data. Here it will have been mixed with other cryptocurrency and withdrawn to the hacker’s own wallet. The exploit was made possible due to the recent vanity address weakness that was picked up on GitHub in January but…

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A report by The Information claims that Apple is pressuring companies to pay its customary 30% fee for in-app purchases on all NFT trades, discouraging startups from providing services to the users of the tech giant. “So far, though, most see some obstacles, including the up to 30 percent commission Apple charges on in-app purchases, as well as pricing conventions that are difficult to apply to volatile digital assets,” the report added. The media outlet also quoted Magic Eden’s co-founder and chief technology officer, Sidney Zhang, who revealed that because…

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The Financial Services Regulatory Authority (FSRA), the financial regulator of Abu Dhabi Global Market free economic zone (ADGM), published its “Guiding Principles” on its approach to digital asset regulation and supervision. Friendly in tone to the crypto industry, the principles pledge to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions. Five principles were published without date specification on the official webpage of the ADGM. They go under the titles of Internationally Recognised Regulatory Framework, Dynamic and Market-Oriented Regulations, Risk-focused and…

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The top 10 Ethereum non-exchange addresses have seen an 11% decline in their holdings over the past three months, while on-exchange whale addresses have seen a 78% increase. The Ethereum blockchain is slated for one of the most significant updates since its inception as it transitions from its current proof-of-work mining consensus to a proof-of-stake (PoS) one. The Merge date is scheduled for Sept. 15, after the successful Goerli testnet integration — the final testnet merger before the actual transition. Ether (ETH), Ethereum’s native token, saw a bullish surge in…

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According to multiple sources China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the country. To do so, passengers simply need to download the e-CNY app, deposit funds and scan the QR code located in the bus payment section to pay for their ride. Similarly, the day before, the city of…

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Traders are increasingly betting on a deeper dive to June’s lows or even beyond, with $20,000 struggling to hold. Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle completed. The pair had been unable to make up for lost ground over the weekend, and just days from the end of the month, even $20,000 appeared vulnerable as support. At the time…

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Elliptic, a London-based blockchain analysis provider has revealed that over $100 million worth of Non-Fungible tokens’ have been stolen between July 2021 and July 2022. NFTs had their debut on mainstream media and crypto in 2021 with explosive interest and return on investments following the launch of well-known NFT drops like the Bored Ape Yacht Club (BAYC) and Mutant Apes (MA). Despite being popularized in 2021 with the growth of NFT collections all over the world, the origins of NFTs can be traced back to 2012/13. TNFTs are cryptographic assets…

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Commenting on the rollout, Crypto.com’s Karl Mohan tipped the adoption of an AUD-backed stablecoin as being the catalyst to make crypto payments mainstream in Australia. Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday. As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange Crypto.com and DataMesh, a Sydney-based payment systems provider. The exchange has provided its Pay…

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Tesla CEO Elon Musk said he will continue “supporting Doge wherever possible” in reaction to the news that The Boring Company is now accepting Dogecoin as payment for a ride. Elon Musk has been a backer of Dogecoin ever since he stated in April 2019 that the meme coin was his favorite cryptocurrency. He has since been a strong supporter of Dogecoin, tweeting about everything from having SpaceX put a “literal Dogecoin on the literal moon” to mining the meme token with his children. In the weeks leading up to…

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The recent market downturn has spurred Michael Saylor to publicly state that MicroStrategy is not in danger of being liquidated. The company’s financial reports seem to back his claim. Michael Saylor insists that MicroStrategy is not at risk of liquidation despite the recent Bitcoin crash. The MicroStrategy CEO retweeted a May 10 post today in which he laid out the company’s financial situation. In the original post, MicroStrategy claimed that it would only be at risk of getting liquidated on a $205 million loan it received to buy Bitcoin if…

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Coinbase is the latest crypto firm to take an axe to its workforce, outlining plans to lay off around 1100 people – 18% of its workforce – as it looks to cut costs in the face of “current market conditions”. In an SEC filing, the firm says it will reduce its workforce to about 5000 this quarter – by 30 June. The move will cost between $40 million and $45 million in severance and other termination benefits. Coinbase had already put in place a hiring freeze and rescinded a host…

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Ethereum just completed its first big dress rehearsal for a long-awaited makeover that will be its most significant overhaul since the digital currency was launched nearly a decade ago. Cryptocurrencies such as ethereum and bitcoin are often criticized for the process of mining to generate new coins. Both currently use a so-called proof-of-work mining model, involving complex math equations that massive numbers of machines race to solve. Ethereum has been working to shift from the energy-intensive proof-of-work method for securing the network to a proof-of-stake model, which requires users to…

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The price of Terra (LUNA) has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28. Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens, also referred to as LUNA 2, are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST). According to data from CoinGecko, LUNA has dropped roughly 69% since its opening of $18.87 on Saturday to sit at around $5.71 at the time of writing. At this stage,…

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Monero (XMR) price may witness a sharp pullback by June because its 75% rally in the last two weeks has left the gauge almost “overbought.” Monero price RSI meets rising wedge Downside risks have been mounting due to XMR’s relative strength index (RSI), which almost hit 70 this May 23, indicating that the market is considered overvalued. An oversold RSI could amount to a bout of declining moves, as a rule of technical analysis. Additionally, Monero is also painting a bearish reversal pattern, dubbed the rising wedge. Rising wedges form…

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European Union (EU) officials discussed banning Bitcoin trading during a debate on a proposal to ban Proof of Work mining according to documents obtained through a freedom of information request. According to a report, published by German digital culture organization Netzpolitik, officials from the EU went as far as suggesting that an all out ban on trading Bitcoin (BTC) should be enforced in order to curb its overall energy consumption. The most worrying comments from the crypto community’s perspective came from a document that detailed the minutes from an EU…

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