Orion was the victim of a reentrancy attack (in which an attacker repeatedly withdraws funds from a smart contract), PeckShield said in a Twitter message. Gal Sagie, CEO of cybersecurity company Hypernative, said the attacker deployed a fake token called ATK which was used to manipulate the orion pools. It utilized a self-destructing smart contract. Source
press release PRESS RELEASE. FIO Protocol, the leading decentralized solution for global blockchain usability, has announced the launch of FIO Domain wrapping on the Polygon blockchain. Wrapping is the process of taking a token from one blockchain and making it available for use on another. This launch moves FIO Protocol into the $31.4 billion NFT market by enabling users to buy, sell, and trade their FIO Domains as ERC-721 NFTs on all Polygon-enabled marketplaces. Founded in 2019, FIO Protocol offers NFT domain names that grant users full custody of their…
Decentralized finance (DeFi) protocols experienced a boom in total value locked across different staking pools in January 2023. The market hit $74.6 billion worth of staked assets, increasing by 26% from December. In its latest monthly report, DappRadar outlined the growth of the DeFi sector alongside rejuvenated nonfungible token (NFT) markets that have also had upticks in trading volume and sales. Optimism emerges as the top DeFi performer, seeing a 57.44$ increase in total value locked (TVL) at $808 million. Blockchain Analyst Sara Gherghelas told Cointelegraph that Optimism’s transaction volumes…
According to local news outlet JS China, on Feb. 1, an annual meeting regarding the trial of the digital yuan central bank digital currency (e-CNY CBDC) was attended by senior Communist Party officials in the City of Suzhou. As part of the meeting outcomes, party officials have set a tentative key performance indicator (KPI) of 2 trillion CNY ($300 billion) for e-CNY CBDC transactions in the city by the end of 2023 to be implemented by municipal administrators through promotional efforts. Officials have also set a target of processing $30…
Cryptocurrency exchange Kraken has reportedly closed its office in Abu Dhabi less than 12 months after receiving regulatory approval to operate in the region. According to a Feb. 2 report from Bloomberg, Kraken shut down its Abu Dhabi office, laying off roughly eight people on the team focused on the Middle East and North Africa, or MENA. The exchange had been licensed to offer services in the Abu Dhabi international financial center and Abu Dhabi Global Market since April 2022 — prior to the market downturn affecting many crypto firms.…
Barclays analyst said Coinbase volumes rose 56% in January from the previous month. Source
CryptoX – Cryptocurrency Analysis and News Portal CEO Richie Lai cited the “new economic environment” as the primary reason for the cuts. Source The post Crypto Exchange Bittrex Laying Off More Than 80 People appeared first on CryptoX. CryptoX Portal
In this week’s episode of Market Talks, Cointelegraph welcomes Budd White, chief product officer and co-founder of Tacen, a United States-based software company developing compliance software for a well-regulated crypto space. To kick things off, we get to know Budd a little better and find out his background and what drew him to the space. We also find out what he’s looking forward to the most this year in the crypto market and how 2023 is going to differ from 2022. The big question on everyone’s minds is what will be the…
Public blockchains still have promise to help solve the world’s most intractable problems, even if they haven’t yet. Source
Lines were drawn when the Ordinals protocol, which stores non-fungible tokens (NFTs) on Bitcoin, launched on the dominant blockchain last month. That showdown created two factions – purists who insist on using Bitcoin exclusively for payments and Ordinals fans who welcome NFTs, including this “Taproot wizard” sketch that nearly filled an entire 4 megabyte (MB) block, incurred no transaction fees (although a premium off-chain fee was likely paid) and left Bitcoiners of both stripes mystified. Original