Month: September 2022

ETHW confirms contract vulnerability exploit, dismisses replay attack claims

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Post-Ethereum Merge proof-of-work (PoW) chain ETHW has moved to quell claims that it had suffered an on-chain replay attack over the weekend. Smart contract auditing firm BlockSec flagged what it described as a replay attack that took place on Sept. 16, in which attackers harvested ETHW tokens by replaying the call data of Ethereum’s proof-of-stake (PoS) chain on the forked Ethereum PoW chain. According to BlockSec, the root cause of the exploit was due to the fact that the Omni cross-chain bridge on the ETHW chain used old chainID and…

Crypto market bloodbath leads to $432M in liquidation

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The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours. The ongoing bearish turmoil has led to nearly half a billion in liquidations for the leverage crypto traders over the past 24 hours. Data from Coinglass highlight that 130,087 traders were liquidated with a total liquidations value of $431.51 million. Bitcoin (BTC) leverage traders lost $44.5…

Working Group to Develop Efficiency Standard for Crypto Mining in Russia – Mining Bitcoin News

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Crypto industry experts have formed a working group to draft a standard for energy-efficient and profitable cryptocurrency mining in Russia. The rules will aim to help developers and data center operators offer investors increased hardware uptime. Russia Prepares to Improve Efficiency of Mining Facilities in 2023 A group of crypto specialists have teamed up to elaborate a standard that should improve the overall efficiency of mining and in particular the use of energy to mint digital currencies. The set of rules and procedures will be designed to increase the time…

What is Arbitrum Nova? Social & gaming blockchain (Arbitrum One, Ethereum Layer 2)

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Arbitrum One, one of the biggest Layer 2 blockchains on Ethereum has launched a new chain catered to social and gaming applications – meet Arbitrum Nova! What is Arbitrum Nova? Faster and cheaper than both Ethereum and Arbitrum One, Arbitrum Nova is a perfect fit for blockchain games and social apps. Popular social site Reddit has chosen Arbitrum Nova as its blockchain of choice to run its Reddit Community Points, which you can earn for participating in Reddit! Find out more about…

Nigerian Inflation Rate Rises to 20.52% in August — Month-on-Month Rate Drops – Africa Bitcoin News

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While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in the costs of production are said to be the factors behind the latest increase. Currency Depreciation Driving Inflation According to the latest data from Nigeria’s National Bureau of Statistics (NBS), the West African country’s headline…

Ava Labs President on the Ethereum Merge

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Ava Labs President John Wu joins Emily Chang and Bloomberg’s Sonali Basak to discuss the impact of the Ethereum Merge on other blockchains, the macro environment and crypto winter, and why he thinks bridges will become increasingly important in a tokenized world. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Samsung Named Most Active Investor in Crypto and Blockchain Startups – Finance Bitcoin News

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Between September 2021 and mid-June 2022, Samsung invested in 13 crypto/blockchain companies thus making the South Korean corporation the most active among the top 40 corporations. Google’s parent Alphabet firm, on the other hand, tops the category of top corporations that participated in the biggest funding rounds. 40 Corporations Invest $6 Billion According to the research firm Blockdata’s analysis of investments in blockchain and crypto startups by top corporations between September 2021 and mid-June 2022, the South Korean electronics giant Samsung was the most active having invested in 13 companies.…