Month: July 2023

Binance integrates The Bitcoin Lightning Network

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance, a cryptocurrency trading platform, has successfully integrated the Bitcoin Lightning Network. Users can now make bitcoin deposits and withdrawals.  The announcement comes a little under a month after the exchange revealed its intentions to incorporate the Bit Lightning Network. Binance customers can utilize the layer-2 scaling solution for bitcoin deposits and withdrawals. The exchange verified the progress in a blog post on July 17. The BNB Smart Chain (BEP20), Bitcoin, the BNB Beacon Chain (BEP2), Bitcoin Core…

National Australia Bank joins crypto exchange boycott, cites ‘scams’

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Another “Big Four” bank in Australia has said it will put blocks on certain cryptocurrency platforms, citing high levels of scams risk in the industry. National Australia Bank (NAB) on July 17 officially announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.” Alongside halting “millions in payments” between March and July 2023, NAB will also introduce blocks on “some cryptocurrency platforms” in order to help protect customers from scams. NAB did not specify the names of cryptocurrency exchanges that are expected…

Crypto Traders Take Heavy Bearish Bets on BNB

A short squeeze is a rapid move higher driven by bears abandoning their bearish bets. For a short squeeze to occur, the market needs to have a higher-than-usual bearish activity, as is the case in BNB perpetual futures. In such situations, a minor price bump can send bears or short sellers running to square off their positions, which, in turn, drives prices further up. Source bearishBetsBNBCryptoheavyTraders CryptoX Portal

AnubisDAO’s 13.5K ETH rug pull money washes away on Tornado Cash

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Nearly two years after the dog-inspired decentralized finance (DeFi) project — AnubisDAO — was rug-pulled for almost $60 million in Ether (ETH), the stolen funds were siphoned away using Tornado Cash. In October 2021, AnubisDAO raised 13,556 ETH from crypto investors owing to the predated Dogecoin (DOGE) trend. However, roughly 20 hours into the investment, the funds were sent to a different address — resulting in an instant loss for the investors. Between July 15 and 16, the illicit funds were moved via Tornado Cash, a decentralized protocol that allows…

Financial Stability Board Calls for Tougher Global Crypto Norms After FTX, Celsius Scandals

The Financial Stability Board (FSB), which groups regulators from some two dozen jurisdictions, including the U.S., EU, China and the U.K., published recommendations to ensure “consistent and comprehensive” regulation of the sector. The recommendations build on proposals originally floated in October and are focused on preventing the kind of behavior alleged to have been carried out by companies such as FTX and Celsius. Source

How easy is a SIM swap hack and how does one guard against it?

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Despite the rise of cybersecurity infrastructure, the online identity still faces many risks, including those related to the hacks of one’s phone numbers. In early July, LayerZero CEO Bryan Pellegrino became one of the latest victims of a SIM swap attack, which allowed hackers to briefly take over his Twitter. And… we’re back in. This was basically my life for the past 24 hours. Luckily we saw hack immediately and the battle began pic.twitter.com/pjrkMfQ2vT — Bryan Pellegrino (@PrimordialAA) July 5, 2023 “My guess is that somebody grabbed my badge out…

A simple tile game is spiking daily txs on Sui Network: Data platform

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A simple blockchain game has been behind a massive spike in daily transactions on the Sui Network, with one data platform even suggesting it has surpassed Solana in network activity. Similar to the 2014 viral browser-based puzzle game 2048, Sui 8192 is a sliding tile game where the players use their arrow keys to shift and combine tiles until they reach a tile worth 8192. It was first launched in October 2022. Each instance of the game mints a new object, similar to minting an NFT, and each move in…

Metaverse bank robberies, Trump NFT biz prefers crypto over cash, and more

Stick em’ up! Bank robbery drills in the Metaverse The Bank of America is mixing a virtual reality metaverse and artificial intelligence to train new employees on everything from handling angry customers to bank robberies. Bloomberg reported July 13 that the bank’s 2,000 new hires undergo a week-long training regime that includes slipping on a VR headset to practice responding to a variety of simulated situations. The VR modules include mundane situations like helping an upset customer or quizzing one which asks for a large swath of cash, and extreme…

Binance completes integration of Bitcoin Lightning Network

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Cryptocurrency exchange Binance has announced it has successfully integrated Bitcoin (BTC) on the Lightning Network, enabling the use of the layer-2 scaling solution for Bitcoin withdrawals and deposits. Binance confirmed the news in a July 17 blog post, where they explained that Binance users can now access their BTC deposit address on the Lightning Network. #Binance has completed the integration of Bitcoin ( #BTC ) on the Lightning Network and deposits and withdrawals are now open. More details here https://t.co/aIofPdtAGY — Binance (@binance) July 17, 2023 Binance first hinted at…

What is Bitcoin Ordinals? | Blockchain News

Bitcoin Ordinals, also known as digital artifacts, are a way to inscribe digital content on the Bitcoin blockchain. They were introduced in January 2023 by Casey Rodarmor, a programmer and artist, who saw an opportunity to create a unique experience on the Bitcoin blockchain similar to non-fungible tokens (NFTs) on Ethereum and other blockchains. What are Bitcoin Ordinals? Bitcoin Ordinals are a system for numbering and tracking individual satoshis (the smallest unit of Bitcoin), transforming them into non-fungible tokens (NFTs). Ordinals are based on ordinal theory, which gives individual identities…