Month: August 2022

Invest Only ₹1000 | Best Crypto to BUY now | CRYPTO News

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Ongoing Solana-based wallet hack has already seen millions drained

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A security vulnerability impacting the Solana ecosystem has reportedly seen millions in funds drained across a number of Solana-based wallets. At the time of writing, Solana (SOL) is currently trending on Twitter as countless users are either reporting on the hack as it unfolds, or are reporting to have lost funds themselves, warning anyone with Solana-based hot wallets such as Phantom and Slope wallets to move their funds into cold wallets. IMPORTANT- please retweet and tag @phantom and @solana 1. Many users are claiming they are getting notifications that they…

Binance Mining Pool Tutorial 2022 (Bitcoin Mining Pool Binance)

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Textbook publisher wants to use NFTs to skim the used-textbook market

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Textbook publisher Pearson has revealed its plans to use non-fungible tokens (NFTs) to keep track of digital textbook sales and effectively “diminish the secondary market” for its digital textbooks.  According to a Bloomberg report on August 1, Pearson CEO Andy Bird wants to assign NFTs to its digital textbooks in order to keep better track of sales and capture revenue that was previously lost on the secondhand market. Bird hopes the company can use the technology to earn commission on second-hand sales of its textbooks, which are normally done privately…

Robinhood Crypto Fined $30 Million by New York Regulator for ‘Significant Failures’ in Multiple Areas – Regulation Bitcoin News

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The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The New York State Department of Financial Services (DFS) announced Tuesday that Robinhood Crypto LLC (RHC) will pay a $30 million penalty to New York State for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” The failures resulted in violations of the department’s Virtual Currency Regulation, Money Transmitter…

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‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss

Online brokerage Robinhood will lay off nearly a quarter of its employees, citing a continued deterioration of the macro environment and a broad crypto market crash.  The bad news came in a blog post on August 2 from cofounder and CEO Vlad Tenev, on the same day it released tepid Q2 financial results, while the New York Department of Financial Services announced a $30 million fine for the company’s crypto branch due to alleged anti-money laundering, cybersecurity, and consumer protection violations. Tenev wrote that the layoffs would impact all functions…

Gucci becomes first major brand to accept ApeCoin payments

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Italian high-end fashion giant Gucci has become the first major brand to accept payments in the Bored Ape Yacht Club affiliated ApeCoin (APE). The move was announced on August 1 and could provide the ApeCoin project with significant mainstream exposure along with bringing further utility to the cryptocurrency. Gucci customers in the United States (U.S.) will now be able to purchase items in-store with APE, while the payment infrastructure will be provided by BitPay, a firm that has helped big names such as AMC Theaters accept crypto payments in the…

Solana Wallets Targeted in Latest Multimillion Dollar Hack

Some users suspect the hack could be related to transactions on Magic Eden’s Solana-based non-fungible token (NFT) marketplace, though the source of the exploit has yet to be confirmed. Magic Eden did not respond to CoinDesk’s request for comment, but tweeted a warning for users to revoke permissions from their wallet to avoid being attacked. Source

BTC wholecoiners up by 40K since June crash began

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Smaller Bitcoin (BTC) investors have found a unique opportunity during the crypto slump to snap up their favorite cryptocurrency. The number of “wholecoiners” has surged by 40,000 since the June slump alone.  According to LookIntoBitcoin, the number of BTC “wholecoiners” has been steadily increasing since January 31, when the BTC price was around $38,000. However, Bitcoin’s price fell around 27% in May and another 40% in June, the same month that saw 25,389 new wallets holding at least one whole Bitcoin. BTC’s price at the current time of writing is…