Day: February 1, 2022

Hackers Move $383M Worth of Bitcoin From 2016 Bitfinex Hack

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Large amounts of bitcoin stolen from the cryptocurrency exchange Bitfinex six years ago were moved by hackers early on Tuesday. According to Twitter account Whale Alert, bad actors transferred 10,000 bitcoins worth more than $383 million to an unknown wallet during Asian hours. The number of bitcoin transferred amounted to 8% of the total 119,756 BTC drained from Bitfinex in 2016, one of the biggest bitcoin hacks to date. Hackers last moved the stolen bitcoin in April 2021, transferring over $700 million worth of coins to unknown wallets during the…

VanEck Launches New Crypto Exchange-Traded Note (ETN) in Europe

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VanEck’s European arm has announced the launch of a multi-token cryptocurrency fund that gives European investors the financial benefits attached to holding it as an asset. The company’s European arm has listed a new Exchange Traded Note (ETN) on the SIX Swiss Exchange and the Deutsche Borse Xetra that enables investors to invest in a basket of the major crypto assets with the greatest liquidity. The asset management firm said that the new crypto fund (the VanEck Vectors Crypto Leaders ETN-VTOP) tracks the MVIS CryptoCompare Crypto Leaders VWAP Close index,…

India to Levy 30% Tax on Crypto Income, CBDC Launch in 2022-23

Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of virtual digital assets, a first for the nation. Additionally, she also said that the digital rupee will most likely be issued in the 2022-23, which is the first time the government has given a timeline on the launch of a central bank digital currency (CBDC). “There has been a phenomenal increase in transaction in virtual digital assets. The magnitude and frequency of these transactions have made it…

Binance Announces SAFU Fund Has Reached $1 Billion – Bitcoin News

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Binance has announced one of its trademark features, the SAFU fund, has reached a milestone in its development. The SAFU fund, an acronym that stands for “Secure Asset Fund for Users,” has reached the amount of one billion dollars, securing the funds of users in case of a hacking emergency. The exchange, which is one of the pioneers in the establishment of such structures, invited other exchanges to also take similar measures. SAFU Reaches $1B, Transparency Highlighted Binance, the leading exchange in volume traded, has announced a milestone…

More than 80% of the NFTs Minted for Free Were Unoriginal or Fake 

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OpenSea, one of the largest NFT marketplace has reported in a Twitter post that more than 80% of the NFTs created for free on its platform were plagiarized from other artists, fake, or spam. The company reported that users are misusing the free minting tools on the platform to commit fraud and create spam.  OpenSea revealed this rampant fraud shortly after the announcement that users would now be able to make a maximum of five collections with 50 NFTs for each collection using the free feature.  The company created the…

SOL Surges 17% After Coinbase Lists Two Solana Ecosystem Tokens

Solana’s SOL jumped 17% in the past 24 hours to regain the $100 and above level after Coinbase listed two other tokens of the Solana ecosystem. The crypto exchange said on Monday it would list ORCA and FIDA, tokens of Solana-based decentralized exchanges Orca and Bonfida respectively, as reported. The move marked the first time non-Ethereum assets were listed on Coinbase. It previously only stuck to list tokens built atop the Ethereum blockchain or the native tokens of blockchains, such as Avalanche (AVAX) and Solana. nice, @coinbase supports @solana SPL…

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