Day: March 20, 2023

Damex Releases in-App Utility Token Damex Token, Enables Users to Earn Rewards for Staking Tokens – Press release Bitcoin News

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press release PRESS RELEASE. WATERPORT PLACE, GIB., March 20th, 2023 – Digital Asset Management Limited and the Damex group (“Damex” or “Damex.io”)), a Distributed Ledger Technology provider based in Gibraltar, recently announced its utility token IEO, the Damex Token ($DAMEX), which can be used within the Damex App along with other non-fungible tokens (NFTs), to earn rewards for adopting a healthier and more active lifestyle. Damex announced its token IEO for 19th April. Its utility went live and was tested during the Q1 of 2023, with future developments for both…

EU’s MiCA Crypto Law Debate Scheduled for April 18

The legislation offers crypto companies such as wallets and exchanges a license for operating across the bloc in exchange for meeting governance and consumer protection norms, and also introduces reserve requirements for stablecoins. If approved, it will be published in the EU’s official journal and takes effect between one and three years later. Source AprilCryptoDebateEUsLawMiCAScheduled CryptoX Portal

Hacker of Euler Finance Sends 100 ETH to a North Korean Address

As per blockchain intelligence firm Chainalysis, Euler Finance transferred a total of 100 ETH to an address having links to North Korea. Another major hack rocked the decentralized finance (DeFi) market last week in March. The attack on DeFi protocol Euler Finance drained a massive $197 million making it the biggest DeFi hack in 2023 so far. While tracking the details of the movement of hacked funds, it turns out that the hack could be linked to North Korea. Among the series of transfers made by the hacker, one transaction…

Project claiming to be ‘AI-powered’ drains $1M from users

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As artificial intelligence (AI) recently became a trending topic due to the capabilities displayed by ChatGPT v4, a project claiming to be an “AI-based” decentralized application has taken almost $1 million from its users in a suspected scam.  Blockchain security platform CertiK has recently confirmed that Harvest Keeper has stolen around $933,000 of users’ assets at the time of writing. In addition, users have also lost around $219,000 from ice phishing transactions across the Ethereum, BNB Smart Chain and Polygon networks according to CertiK. The security firm urged users to…

General Bytes Loses Over $1.5M to Crypto Hack

The ATM maker shuttered its cloud services to limit further compromise of sensitive user information. Bitcoin ATM maker General Bytes has reportedly lost BTC worth about $1.5 million to a crypto hack. The company reported a security incident between March 17 and 18 that allowed unauthorized access to compromising user information. According to the press release, the attacker gained remote access to the entire database, API keys, hot wallets, user names and passwords. Consequently, the attacker could also turn off 2-factor authentication and access terminal event logs showing customers who…

Bitcoin gains $26 billion as banking crisis sparks rally

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Bitcoin is up 50% so far in 2023, beating major commodities and stock indexes. Industry insiders said the bank collapses have sent investors looking for alternatives to the traditional banking system and there is also anticipation of a slowdown in interest rate rises, which is helping bitcoin. Filip Radwanski | Sopa Images | Lightrocket | Getty Images Bitcoin jumped on Monday as some investors turned to digital currencies amid a crisis in the traditional banking sector. Bitcoin was up 5% at $28,378.35 at around 5:20 a.m. ET, according to CoinDesk.…

FDIC Announces Sale of Signature Bank Assets to New York Community Bancorp

FDIC said that the deal between Signature and Flagstar would cost the Deposit Insurance Fund an estimated $2.5 billion. On Sunday, March 19, the Federal Deposit Insurance Corporation announced that Flagstar Bank, a subsidiary of the New York Community Bancorp, has entered an agreement with US regulators to secure the deposits and loans from Signature Bank, which announced shutdown a week back. The FDIC said that roughly $4 billion of Signature Bank’s deposits and $60 billion worth of loans would remain with it in receivership. However, Flagstar Bank will only…

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week in an unmistakably bullish position as it passes $28,000. Crypto markets continue to climb on the back of the banking crisis, which still rages in the United States and abroad — where will they go next? After a week of chaos for macro markets and solid gains as a result, Bitcoin and altcoins are circling levels, which some have not seen for nine months. The 2022 bear market is feeling like an increasingly distant memory as old resistance levels tumble and bulls attempt to…

DefiLlama Rocked by Internal Crisis as Employees Disagree over Token Plan

The decision to launch the token did not sit well with most DefiLlama contributors who have now openly rejected it. There is an ongoing dispute among the employees of the decentralized finance analytics dashboard DefiLlama. According to an employee simply identified as 0xngmi, the company’s founders are planning a ‘LLAMA’ token launch without as much as soliciting employee support. Comparing the plan to a “hostile takeover,” 0xngmi has now distanced himself and other developers from the proposed launch. Hence, causing the team of developers to fork a new version of…