Day: May 29, 2023

Hacker drops control over Tornado Cash as they use it to wash stolen funds

A hacker who recently took over the cryptocurrency mixer Tornado Cash has given up control while still using the protocol to launder the digital tokens stolen in the attack. Hacker uses Tornado Cash to wash stolen tokens In the incident, the attacker obtained 483,000 TORN coins, the protocol’s native currency, and later converted a sizable amount of the loot into ETH.  This was due to exploitation of a weakness in the Tornado Cash governance system, which is generally run by the crypto community. The user has also reportedly used the…

Over $250m worth of OP tokens set to enter circulation

A substantial number of $OP tokens, totaling 154.6 million ($252 million), will be unlocked within a day, making them accessible for trading or transfer. This represents approximately 3.6% of the total supply and a significant 46% of the circulating supply. $252 million in circulation According to a tweet from @lookonchain posted on May 29, 2023 154.6 million $OP tokens, valued at $252 million, which were previously restricted or held, will become available for use or circulation, a total of 3.6% of the total supply. Optimism Locked Charts| Source: @lookonchain Twitter Out of…

BKEX suspends withdrawals amid money laundering probe

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BKEX, a cryptocurrency exchange, has suspended withdrawals of user funds as it looks into claims that the platform was used for money laundering. BKEX partners with authorities to investigate the situation The British Virgin Islands-based cryptocurrency exchange BKEX revealed on May 29 that its system could have been exploited for money laundering. The exchange suspended withdrawals and promised to assist law enforcement with the inquiry. The exchange stated that it is currently collaborating with law enforcement…

Bitcoin critic Peter Schiff to launch NFT collection with ordinals

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Peter Schiff, a long-time critic of cryptocurrencies and a vocal detractor of NFTs, is preparing to launch his own NFT art on the bitcoin blockchain. According to a tweet sent out on May 26, the release will be done in collaboration with the artist Market Price. Not backed by gold Peter Schiff, the CEO and chief strategist of Euro Pacific Capital, has been known for his unwavering belief in the value of commodities such as gold,…

Crypto Exchange BKEX Suspends Withdrawal to Aid Money Laundering Probe

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Cryptocurrency exchange BKEX has frozen customer withdrawal on its platform to cooperate with police investigation into alleged money laundering by some of its users. The exchange on Monday said it decided to halt withdrawal in order to aid authorities in collecting evidence. “The team will actively work with the relevant authorities to resolve the current issues faced to ensure that the rights of our users are protected to the greatest extent possible,” BKEX said in a statement on its blog. #BKEX Announcement on Suspension of Withdrawals – Details: https://t.co/gDh6Z3bg9apic.twitter.com/EMTEuU2DDO —…

Laos government reportedly prioritizes blockchain technology for digital transformation

On May 26, the Laotian government reportedly hosted the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation in the country’s capital, Vientiane. The conference, which was led by Laotian Prime Minister Sonexay Siphandone, was attended by blockchain experts and various leaders from the main economic departments within the country.  Blockchain 4.0 is revolutionizing #Laos. It’s driving financial inclusion, fostering transparency, and enhancing security in transactions. Smart contracts and decentralized finance are opening new avenues for growth. Truly, a game-changer for the nation’s economy. #MetaBankLaos… pic.twitter.com/oyaAKzFNjk — MetaBank (@MetaBankSG) May 27,…

Solana: Crypto’s Next Apple? Co-Founder Shares Bold Vision For The Blockchain’s Future

Solana is a layer-1 blockchain that has been making waves in the crypto industry since its launch in 2020. The co-founder, Raj Gokal, recently spoke to TechCrunch+ about the potential of Solana to become the “Apple of crypto.” Solana Co-Founder Thinks Its Blockchain Could Rival Apple’s Success According to Gokal, Apple’s success can be attributed to its relentless focus on user experience and performance. He believes Solana shares this same focus and is working to create a network that feels like the regular Internet but is an entirely new financial…

The co-founder of BitMEX shares his ideas on the future of crypto investing

In a recent interview on the “What Bitcoin Did” YouTube channel, Arthur Hayes, co-founder of BitMEX, a cryptocurrency exchange platform, shared insights into his future plans with his fund, Maelstrom. Hayes acknowledged the rumors surrounding his quirky traveling habits and sleeping positions, disarming the audience with his openness. However, his key focus was on Maelstrom. This fund’s goal is purportedly to stimulate innovation in the cryptocurrency field while securing profit for its investors. The essence of his investment philosophy ties into Anthony Pompliano’s belief that bitcoin (BTC) has so far…

Do Kwon retains Dentons law firm to defend against US charges

Terra co-founder Do Kwon enlisted the services of global law firm Dentons following a passport forgery case, and extradition requests in Montenegro. Denton has been a highly ranked global law firm, and will help Do Kwon in his legal struggles. Addressing legal challenges Terra co-founder Do Kwon, who is embroiled in a passport forgery case in Montenegro, faced a setback as the court revoked his bail. Prosecutors successfully argued that Do Kwon posed a flight risk, deeming the initial bail amount insufficient for house arrest.  As discussions surrounding his potential…

Pancake Protectors to Bring Play-to-Earn to Gaming PancakeSwap Users

PancakeSwap launched the play-to-earn game “Pancake Protectors,” integrating their native token CAKE and offering rewards up to 10,000 CAKE for top-ranked players. On May 29th, PancakeSwap, the decentralized exchange (DEX) operating under the automated market maker (AMM) model, announced the launch of the play-to-earn (P2E) game “Pancake Protectors”, powered by GameFi Mobos’ PvP protocol. Pancake Protectors is based on the subgenre of strategy games known as Tower Defense (TD), where players’ main objective is to protect territories or possessions by strategically placing defensive structures on the assigned map. Pancake Protectors…