Day: August 5, 2023

XRP Whales Trigger Price Decline With Large Selling

boss

Massive XRP whale wallets are at it again as recently, some of the largest holders of XRP have dumped over 100 million tokens, putting major selling pressure on the XRP price.  On-chain data shows that since July 19, the overall supply in addresses holding between 100,000-1,000,000 coins has decreased from 6.85 billion to 6.75 billion. Whales Taking Profit After Pump The actions of whales or large holders of cryptocurrencies seem to always tell the nature of general market sentiment. When whales sell off chunks of their holding, it often triggers…

Alchemix reports return of all stolen funds from Curve pools

Lending platform Alchemix has announced the return of all stolen funds by the Curve finance hacker. The attack took place on July 30 and resulted in over $61 million in cryptocurrencies drained, including $13.6 million from Alchemix’s alETH-ETH pool.  Along with Alchemix, JPEGd’s pETH-ETH pool saw outflows of $11.4 million, and Metronome’s sETH-ETH pool was drained in over $1.6 million. The hacker targeted stable pools on Curve Finance using vulnerable versions of the Vyper programming language through reentrancy attacks. We are extremely happy to announce that all funds stolen by…

DeFi faces stress test, DoJ fears run on Binance, Hong Kong’s…

boss

Top Stories This Week The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days, hammering the performance of tokens and even stablecoins as a result of the dramatic ups and downs in this story. As the community navigates the aftermath of this exploit, Cointelegraph compiled the week’s events, presenting…

Worldcoin flaw allowed anyone to become an orb operator

In late May, CertiK, a blockchain audit firm, discovered a serious security flaw in Worldcoin’s code that would have allowed an unapproved user to gain access and become an Orb operator, bypassing the strict verification process. With this flaw, CertiK adds, the intruder would have easily circumvented Worldcoin’s rigorous onboarding criteria for becoming an Orb operator.  1/ On May 29th, CertiK reported a security vulnerability to #WorldCoin’s security team that could potentially allow an attacker to become an Orb operator by bypassing the verification process. — CertiK (@CertiK) August 3,…

Blockchain Security Firm Exposes Unverified Orb Operator Access

Blockchain security company CertiK recently revealed a serious flaw that put the Worldcoin system at serious risk. The system’s security and integrity might have been compromised if the vulnerability allowed Orb operators unrestricted access. Users’ iris information was collected as part of Worldcoin’s Orb activities, necessitating a strong verification process to guarantee that only reputable businesses are in charge of the operations. The system’s fault, however, made it possible for bad actors to get through the rigorous verification process without fulfilling the requirements. Following the usual whitehat disclosure process, CertiK quickly…

Crypto Analyst Points To Bitcoin Price History Repeating Itself

boss

The general crypto market has recorded a slight decline in the last week, with the market leader Bitcoin losing 0.78% of its value over the last seven days.   This price loss amplifies BTC’s negative monthly performance, pushing its total loss in the last 30 days to around 5.38%, according to data from CoinMarketCap. At the time of writing, the premier cryptocurrency is trading at around $29,022, with its daily trading volume valued at $10.746 billion, having gone down 12.54%.  However, amidst Bitcoin’s current downtrend, it appears the token’s larger performance…

New York’s Attorney General investigating DCG’s subsidiary

Digital Currency Group’s subsidiary, Genesis Global Capital, is reportedly being investigated by the New York State Attorney General’s Office (NYOAG).  This development compounds the mounting series of ongoing inquiries directed at DCG’s financial operations. US federal prosecutors and the Securities and Exchange Commission (SEC) are already probing the matter. Genesis Global Capital, which sought bankruptcy protection earlier this year as a crypto lender, has seen its former top executives being scrutinized.  Notably, the former Chief Risk Officer of Genesis, Michael Patchen, has been questioned as part of the ongoing investigation. That the…

Optimism (OP) Tallies 13% In 7 Days Despite High Profile DeFi Hack

boss

In the midst of the ever-changing cryptocurrency landscape, Optimism (OP) has shown remarkable resilience, posting a notable price increase of 13.53% in the past seven days. Despite facing a slight decline of 1.80% in the last 24 hours and a further 1.35% shrinkage within the hour, Optimism remains on an upward trajectory. With the current price sitting at $1.68 per OP and still 48.38% below its all-time high of $3.26, traders and investors are eager to uncover the reasons behind its recent gains. This article explores the factors contributing to…

Polkadot and Helium coin holders exploring Tradecurve

Tradecurve is increasingly popular among traders who want to diversify their portfolios while concurrently aiming to unleash the full potential of digital assets. Subsequently, Polkadot (DOT) and Helium (HNT) investors can consider examining Tradecurve’s TCRV. Polkadot updates community Polkadot recently shared its Q2 updates on Twitter, highlighting the rapid adoption and increase in unique accounts.  The platform also announced new partnerships with Vodafone, Deloitte, Energy WebX, and others.  Additionally, they mentioned the Polkadot Decoded event.  Despite recent developments, DOT is down 1.63% on the last day, trading at $5.39. However, supporters are…

New York AG probes transactions at Genesis, ties with Barry Silbert: Report

boss

Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter. Federal prosecutors and the Securities and Exchange Commission are reportedly engaged in investigating, seeking interviews with potential witnesses associated with both Genesis and DCG. According to the report, the investigation examines loans and other transactions performed between the companies. DCG revealed last year that it had received around $575 million in…