“If a reconciliation error occurs, the blockchain will stop producing new blocks, impacting downstream services such as bridges, deposits, and withdrawals on exchanges,” developers wrote on GitHub. “This drastic action is necessary to protect the chain and its users, so core developers and community members should investigate the issue as soon as possible.” Source link
Lawyers on behalf of FTX Trading Ltd. and Maclaurin Investments Ltd. (owned by Alameda Research, the hedge fund arm of the bankrupt FTX empire) asked the court to order the return of funds transferred to Patrick Gruhn, Robin Matzke, Brandon Williams, and Lorem Ipsum UG, the leadership of FTX Europe. Source
Dapper Labs made prior cuts in February and November. Source
The customer claims portal for insolvent cryptocurrency exchange, FTX, went offline shortly after its debut on July 10, leaving customers unable to make claims online. Kroll, the claims agent for FTX, said they are working on resolving the glitch for victims to submit claims. In the meantime, affected customers can still file claims by submitting a digital form on Kroll’s website or by mail. As of writing on July 12, the portal is still inaccessible. Former FTX boss facing 24 fraud charges FTX’s bankruptcy case is being handled in Delaware, and ongoing…
The current state of Web3 user experience is akin to driving a manual transmission car — there’s more control, but most users will find it unnecessarily clunky, according to several UX designers. Over the years, discussion around mainstream adoption of Web3 has centered around the need to improve crypto’s user experience and “ease of use.” However, in a July 12 Twitter post, Web3 UI/UX designer “0xDesigner” argued that certain properties of blockchain make it challenging to build easy-to-use Web2-like applications. Web2 vs Web3 UX I was asked by a reporter…
United States law enforcement agents slammed wire fraud and money laundering charges against a former security engineer from New York. He is accused of hacking a decentralized exchange (DEX) and stealing $9 million in July 2022. The development marks the first time prosecutors are bringing charges against a suspect for exploiting a DEX’s smart contract. Hacker facing charges The United States Attorney’s Office for the Southern District of New York, in a press release, alleged that Shakeeb Ahmed, who previously worked as a senior security engineer for an international technology firm,…
Crypto mining firm Hive Blockchain is now calling itself Hive Digital Technologies — after enacting a branding pivot that seeks to highlight its foray into artificial intelligence. The Vancour-based mining company said in a July 12 statement it has dropped “blockchain” from its name to better represent the company’s “evolving focus” on revenue opportunities in graphics processing units (GPUs) and cloud computing as well as “its mission to drive advancements in AI” and support the “new Web3 ecosystem.” “As we expand our GPU Cloud business, we require a strategy that…
Nearly 10,000 bitcoin (BTC), traced back to the darknet marketplace Silk Road, are seemingly on the move as per two as-yet-unconfirmed transactions. This would mark the most significant shift of Silk Road-related funds in recent months. Silk Road bitcoin on the move Of this total, around 8,200 BTC are being reallocated to new wallets, with the rest potentially moving to what is referred to as “change wallets.” However, the classification of this as a genuine fund movement remains a point of discussion, as these bitcoins might be returned to their…
The Binance-operated BNB Beacon Chain mainnet is set to add a new feature in its upcoming hard fork, which will give the blockchain the ability to “halt” the production of new blocks if certain conditions are met. In a July 12 statement from BNB Chain, the “ZhangHeng” upgrade is expected to take place at block height 328,088,888, which it expects will occur on July 19. Important information about our latest upgrade ⤵️https://t.co/4sJkTJbGeZ — BNB Chain (@BNBCHAIN) July 12, 2023 The hard fork will introduce Binance Evolution Proposal BEP-255, which seeks…
Nonfungible token collection and technology firm Dapper Labs has announced its third round of staff layoffs in less than a year. On July 13, Dapper Labs CEO Roham Gharegozlou announced that the firm has said goodbye to “51 brilliant colleagues and friends.” In a note to employees, he said that the latest round of cuts includes full-time staff and C1 contractors. “The decision was incredibly difficult because of the amazing people affected,” he said before adding that it was necessary and the right thing to do to “ensure a lean…