Day: November 25, 2022

1inch releases new tool to protect traders against ‘sandwich attacks’

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Exchange aggregator 1inch released a new tool called “Rabbithole” on Nov. 25, which the company says will protect traders against malicious “sandwich attacks.” The team announced the launch of the tool in a press release that has been made available to Cointelegraph. Rabbithole works by allowing users to submit transactions directly to Ethereum nodes, bypassing the mempool. In order to use it, users need to change the remote procedure call (RPC) endpoint in their crypto wallet. After that, each swap initiated via 1inch will be analyzed by the private tx…

Binance publishes official Merkle Tree-based proof of reserves

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Two weeks after Binance initially pledged to develop a proof-of-reserve (PoR) mechanism in response to the FTX liquidity and bankruptcy fiasco, it published its official response. In an announcement on the Binance website, the exchange outlined how users can use the mechanism to verify its holdings. Currently, the only token available to verify through the Merkle Tree-based system is Bitcoin (BTC), though the announcement says additional coins will be added in the coming weeks. It also highlighted upcoming transparency updates, which include the involvement of third-party auditors to audit its PoR results…

BTC, ETH Move Lower on Black Friday – Market Updates Bitcoin News

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Bitcoin was marginally lower on Nov. 25, as markets returned to action following the U.S. Thanksgiving holiday. Overall, cryptocurrency markets were mostly in consolidation in today’s session, with the global market cap up 0.12% as of writing. Ethereum was also largely unchanged, with the token hovering below $1,200. Bitcoin Bitcoin (BTC) was mostly unchanged on Friday, as cryptocurrency markets consolidated, following the U.S. Thanksgiving holiday. Following a high of $16,641.32 on Thursday, BTC/USD fell to an intraday low of $16,388.40 earlier in today’s session. Today’s decline saw a three-day winning…

Here’s how centralized exchanges aim to win back users after the FTX collapse

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Centralized crypto exchanges play a huge part in the crypto trading ecosystem. However, the FTX collapse showcased how difficult it is to trust exchanges with user funds. Despite this, crypto trading platforms continue to believe that they can win back the community’s trust.  Speaking to Cointelegraph, executives from crypto exchanges OKX, Gate.io and Bitpanda shared their insights on how trading platforms can recover from the effects of the FTX debacle. According to Dion Guillaume, an executive at Gate.io, transparency in terms of custody of user assets has become of vital…

Tron Latest Update Seen Giving TRX Price A Boost

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Investor interest in Tron is growing as the protocol receives updates. The new Java-tron GreatVoyage-4.6.0 upgrade, codenamed Socrates, is a required update that includes crucial enhancements that greatly improve the protocol’s ability to utilize storage. Since time is of the essence, here is a quick rundown of TRX: Major new enhancements that will smooth out the protocol’s operation have been released The proposal from PancakeSwap has the potential to be a strong positive catalyst Current price action is negative, but a reversal would be bullish 📢Java-tron GreatVoyage-4.6.0(Socrates) has been released!…

Turkey seizes FTX assets in the country amid the ongoing investigation

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Assets belonging to former FTX CEO Sam Bankman-Fried have been seized by the country’s Financial Crimes Investigation Board, locally known as MASAK, following the collapse of his main business. An official announcement from Turkey’s MASAK outlined preliminary findings and actions taken against Bankman-Fried following bankruptcy proceedings of its core business. MASAK began investigations on Nov. 14. Cointelegraph translated the latest announcement from MASAK, which highlighted three key points from the investigation. The Turkish investigatory body found that FTX failed to safely store user funds, embezzled customer funds through shady transactions, and…

Dogecoin Jumps 10%; Will Buterin and Musk Work Together?

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Crypto influencer David Gokhshtein has told his nearly 700,00 followers on Twitter that he expects Ethereum co-founder Vitalik Buterin and and Elon Musk to join forces to upgrade Dogecoin. The Dogecoin price, possibly triggered by Gokhshtein’s speculation, saw a massive spike of more than 12% at one point in the aftermath. The price shot up from $0.0823 to as high as $0.0913 on Binance. At press time, however, DOGE was already experiencing a slight correction of the swing and was trading at $0.0882. Dogecoin pumping, 1-hour-chart. Source: TradingView “I feel…

Bitcoin addresses holding at least 1 BTC close in to a million

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Smaller wallet addresses in the Bitcoin (BTC) ecosystem continue accumulating BTC despite market turmoil. The number of known addresses on the Bitcoin blockchain that hold 1 BTC or more has hit a new all-time high. According to blockchain analytics company Glassnode, the number of wallets holding at least 1 BTC or more reached 950,000. Bitcoin balances of 1 BTC or more has surged since November. Source: Glassnode Bitcoin podcast host Jake Woodhouse told Cointelegraph that “To the untrained eye, the price of something reflects the value. However, price action should…