Day: January 16, 2023

Onchain Researchers Discover $63M in Ethereum From Harmony Bridge Attack Moved, Hackers Attempt to Launder Funds on Major Exchanges – Bitcoin News

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On Jan. 15, 2023, onchain researchers discovered that funds stolen during the Harmony bridge attack had been moved. The suspected thieves, who are allegedly associated with the North Korean hacking syndicate Lazarus Group, moved 41,000 ethereum, worth $63.2 million at current exchange rates. Onchain Researchers Track Stolen Ethereum From Harmony Bridge Attack and Help Major Exchanges Freeze Funds On June 23 of last year, the Harmony development team disclosed that $100 million in cryptocurrency funds had been stolen from the Horizon bridge. Reports indicated that the attacker had utilized a…

Iran and Russia Jointly Working on Gold-Backed Stablecoin

The two countries shall use this stablecoin to facilitate cross-border transactions and foreign trade between the two. Amid the changing global geopolitical scenario, Iran and Russia have come together to issue a joint gold-backed stablecoin in the market. The executive director of the Russian Association of Crypto Industry and Blockchain, recently said that the Central Bank of Iran is considering the creation of such a stablecoin with its Russian counterpart. Gold-backed Stablecoin Russian news agency Vedomosti describes this stablecoin as a “token of the Persian Gulf region” and would serve…

Glassnode Points Out Bizarre Consistency In Bitcoin Cycles

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Glassnode has pointed out a bizarre consistency between the current and previous Bitcoin cycles in terms of a metric, here’s what. Bitcoin Breaks Above 200-Day Simple Moving Average Line A “simple moving average” (SMA) is an analytical tool that produces an average of any given quantity over a specific period of time. As its name already implies, it moves along with the quantity and changes its value accordingly. SMAs can be quite useful for studying long-term trends, as they smooth out the curve and filter out any short-term fluctuations in…

Signs of Change as US Lawmakers Create Subcommittee for Crypto – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). Bitcoin exploded last week with an incredible 24% move, as Bitcoin mining difficulty rallied too. Bitcoin mining difficulty is a measure of how difficult it is to create the next block of transactions. This metric resets every two weeks and climbed by over 10% last week according to data from BTC.com – the largest rise since October. Bitcoin mining difficulty fell 3.6% before the last update, after a winter storm led some miners to shut down. However, now miners…

Alleged North Korean Cyber Criminals behind Harmony Hack Lazarus Group Moves $64M in Stolen Crypto over Weekend

Harmony hack perpetrators Lazarus Group recently moved $63.5 million in ETH, with Binance and Huobi recovering $2.5 million.  North Korea’s Lazarus Group of cyber criminals linked to the $100 million Harmony hack recently made moves again. According to pseudonymous blockchain detective ZachXBT, Lazarus Group moved a sizable part of the stolen Harmony funds over the weekend. Speaking on this development, ZachXBT pointed out on Twitter: “North Korea’s Lazarus Group had a very busy weekend moving $63.5m (~41000 ETH) from the Harmony bridge hack through Railgun before consolidating funds and depositing on three…

Bitcoin price breakout or bull trap? 5K Twitter users weigh in

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Bitcoin (BTC) is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion for Bitcoin bear market survivors. Bitcoin bull trap fails to convince It has been called the “biggest bull trap” ever seen, and despite holding above $20,000, BTC price action is fooling no one. This week, with Wall Street closed until Jan. 17, out-of-hours trading continues to support higher levels, but faith in these staying around for…

Oxfam Reveals How Richest 1% of All People Became Richer in Two Years

While inflation gulps the wages of at least 1.7 billion workers, billionaires see their fortune increase by $2.7 billion on a daily basis. According to a new report from global poverty charity Oxfam, two-thirds of the entire new wealth created globally has been amassed by the richest 1% of people in the past two years. The report mentions the alarming rate of multiple crises, including hunger, devastating economies, and the negative effect of the coronavirus, which many are still struggling with. While poverty has increased for the first time in…

Binance to let institutions store crypto with cold custody

Amid the crisis of centralized cryptocurrency exchanges (CEX), crypto exchange Binance is moving to improve its institutional trading services with cold custody opportunities. Binance announced on Jan. 16 the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody. The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, by mirroring cold storage assets through a 1:1 collateral on Binance account. Binance emphasized that the new solution enables more security, allowing traders to access the exchange ecosystem…

CBDCs not worth the costs and risks, says former BoE advisor

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Central banks worldwide are pushing forward with digital asset projects despite the various crypto industry implosions of the past 12 months. China has rolled out its central bank digital currency (CBDC) to several cities and made it available for use at the Winter Olympics. Many other central banks, including the Bank of England, are considering how to roll out a CDBC, while Nigeria’s CBDC has had poor uptake so far. India has already launched a pilot scheme, while Mexico has confirmed the launch of a digital peso. However, Tony Yates, former senior adviser to…