Sophisticated Trading Bot Exploits Synthetix Oracle, Funds Recovered

When Ethereum-based synthetic asset issuance platform Synthetix, which allows users to mint and trade synthetic currencies in a peer-to-peer fashion, lost track of more than 37 million synthetic Ether (sETH) on June 24, the company stopped all trading on its platform. While users only lost trading access for 24 hours, the event led to trades with 1,000x profits equalling $1 billion in less than an hour. The Australian-based company’s synthetic currencies provide access to the value of certain currencies, including Bitcoin and Ether. The platform says it makes it easy…

Cornell Professor Reopens Scaling Debate With Bitcoin Critique

One of the known security vulnerabilities in cryptocurrency is the human being and his or her capacity for foolish acts. If a transaction hasn’t cleared at least once on any blockchain, including Bitcoin, it’s not secure. No Means No in Blockchain Confirmations On faster blockchains like Tron or EOS, you can wait even longer. The point isn’t always to be sure the transaction is legitimate. Sometimes it’s to be sure you received it on the right chain. Earlier this year, CCN reported on a string of bitcoin ATM robberies in…

Stablecoin Market is Showing Signs of Solid Growth

The cryptocurrency market has possibly been one of the most innovative things to have emerged over the past decade or so, and during the course of that period, it has taken the world by storm. However, as everyone knows, ecosystems evolve, and that is what has been happening with regards to the cryptocurrency ecosystem as well. Eventually, the establishment of exchanges allowed millions of people to buy and sell cryptocurrencies with a few clicks. It was the brainchild of crypto exchanges to introduce a new digital asset class, which was…

Top Crypto Markets Report Losses, Bitcoin Hovers Around $11,000

Friday, July 5 — the top-20 digital currencies by market capitalization are trading in the red zone, with only Chainlink (LINK) seeing daily gains, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) has been trading in a narrow corridor from $11,701 to $10,751 as its highest point during the day. The leading crypto has lost 6.25% over the past 24 hours, and is currently trading at $10,969. In terms of its weekly performance, bitcoin has seen a price drop by 2.73%. Bitcoin has become less correlated…

Bitcoin Skeptic Schiff Receives $1,500 in the Crypto, Remains Cynical

Bitcoin Hater Now Owns The Crypto According to Bitcoin hater Nouriel “Dr. Doom” Roubini, the cryptocurrency industry is rife with scammers, criminals, rent-seeking individuals, and so on and so forth. But if you were to take a gander at Peter Schiff’s publicly-known BTC address, you may not think this is the case. You may instead think the industry is full of altruistic technologists and early-adopters. Over the past 18 or so hours, the prominent gold bull, who doubles as a staunch Bitcoin bear, has been a beneficiary of the crypto…

Pompliano Apparently Holds 50% of His Wealth in Bitcoin, Explains Why

American investor and co-founder of Morgan Creek Digital Assets Anthony “Pomp” Pompliano explained his investing strategy and skepticism towards fiat currency in an interview with Cointelegraph on July 5. When asked whether he thought that putting 50% of his wealth into the leading digital currency bitcoin (BTC) was a risky move, Pompliano said that risk is relative for every individual; however, he has a clear profile that he wants to undertake. Pompliano continued: “I would make the argument that having 100% exposure to fiat currencies is a really bad idea.…

Indian Authorities Arrest 4 Individuals Accused of Crypto Ponzi Scheme

The Criminal Investigation Department (CID) of India has arrested Vijay Prajapati, Dhiraj Patel, Kamruddin Syed, and Ashiq Shaikh, the alleged creators of the cryptocurrency KBC Coin, according to a report by The Times of India on July 4. As per the report, the CID argues that KBC is a Ponzi Scheme.  KBC reportedly launched 6 months ago, and its price has not moved since. KBC coins were reportedly issued at 10 paisas apiece, with the promise that they would skyrocket in value to 10 rupees in a short time ⁠—…

Oracle and World Bee Project to Track Honey Sustainability on Blockchain

Tech giant Oracle and the World Bee Project are developing a blockchain-based sustainability assurance system for honey on the supply chain, according to a report by Ledger Insights on July 5. The honey-tracing blockchain will reportedly be developed on the Oracle Blockchain Platform. According to the report, this partnership aims to launch a “BeeMark” label, which is a purported guarantee that so-labeled honey comes from ecological and sustainable sources.  In addition to blockchain technology, BeeMark also plans to make use of data science to monitor environmental factors pertaining to the…

Blockchain Browsers — How DLT Could Affect Web Surfing

The appearance of blockchain technology can be compared with the emergence of internet at the initial stage of its development: Users were cautious about a decentralized system and failed to understand many of its subtleties. But just as firms opened up to the internet, almost all corporations are now working on integrating blockchain into their processes — at least as a trial. And there are some reasons for this trend: With the acceleration of data transfers, globalization and the amount of information, the security questions concerning personal data are becoming…

Price Analysis 05/07: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, TRX, ADA

What are the critical levels to watch on bitcoin? Let’s study the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. The total market capitalization of bitcoin is close to $200 billion and its market dominance continues to sustain above 62%. This is a positive sign. It shows that market participants expect the…