Day: August 25, 2023

WinRAR patches zero-day bug that targeted stock and crypto traders

The developers behind file compression software WinRAR have patched a zero-day vulnerability that allowed hackers to install malware onto unsuspecting victims’ computers, enabling them to hack into their crypto and stock trading accounts. On Aug. 23, Singapore-based cybersecurity firm Group-IB reported a zero-day vulnerability in the processing of the ZIP file format by WinRAR. The zero-day vulnerability tracked as CVE-2023-38831, was exploited for approximately four months, allowing hackers to install malware when a victim clicked on files in an archive. The malware would then allow hackers to breach online crypto…

Ethereum Whales Accumulate – Can Price Start Recovery Now?

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Ethereum price is struggling to rise above $1,700 against the US Dollar. ETH whales seem to accumulate, and the $1,620 support could be the key. Ethereum is struggling to rise above the $1,680 and $1,700 levels. The price is trading below $1,670 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase above the $1,670 and $1,700 resistance levels. Ethereum Price Holds Support Ethereum’s price…

FTX’s bankruptcy rakes up nearly $50m monthly in legal fees 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied FTX creditors are looking to expedite bankruptcy proceedings as legal fees are becoming increasingly expensive, possibly eating into the money paid to creditors.  While attorneys of FTX are working towards recovering what remains of the once global crypto exchange and repaying customers, creditors have grown frustrated with the lengthy bankruptcy process and are seeking to hasten mediation.  According to a Reuters article on Aug. 23, the agreement was to repay users by liquidating FTX’s assets. However,…

Bitcoin Price Could Range Trade Before The Next Big Move

Bitcoin price is consolidating above the $25,500 level. BTC could start a decent increase if there is a close above the $27,000 resistance. Bitcoin is struggling to clear the $26,500 resistance zone. The price is trading near $26,100 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to trade in a range before the next major move. Bitcoin Price Slides Again Bitcoin…

Dropbox ditches unlimited storage offering, blaming crypto cloud miners

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The online storage platform Dropbox has binned its unlimited storage plan after discovering some of its users were using the service for resource-intensive purposes like mining crypto. In an Aug. 24 blog post, Dropbox said its unlimited Advanced plan has instead moved to a metered storage plan with new users getting 15 terabytes of storage — apparently enough to house 100 million documents. It added it knew its “all the space you need” plan would result in uneven usage levels but in recent months it had seen a surge in…

What is Base? Unpacking Coinbase’s new layer-2 network and its impact

Base, Coinbase’s new layer-2 blockchain network, was built to enhance Ethereum’s capacity for decentralized applications, improve user interfaces, and reduce transaction costs. Let’s explore how it works, its implications, and its challenges. On Aug. 9, Coinbase, a leading player in the cryptocurrency market, launched its Base layer-2 blockchain network. Far from a mere technical upgrade, this development has been marked by both anticipation and scrutiny. With promises of improved decentralized applications (dApps) on Ethereum (ETH), reduced transaction costs, and enhanced interfaces, the launch of Base has sparked curiosity and debate.…

1inch DEX aggregator deploys on Ethereum’s layer-2, Base

1inch Network is integrating its decentralized exchange (DEX) aggregation protocol on Ethereum’s layer-2 solution, Base. The decentralized finance (defi) protocol said the goal is to tap liquidity from leading DEXs, including Uniswap, Balancer, SushiSwap, and Base Swap. In this way, they can refine and offer better swap rates. A highlight of this integration is the inclusion of a limit order feature for Base users to exercise more control over their trades. This allows them to set a specific price at which they wish to execute their transactions. Trades are then…

VeChain and SingularityNET team up on AI to fight climate change

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Artificial intelligence firm SingularityNET and blockchain firm VeChain have become the latest firms to marry blockchain with artificial intelligence — this time, with the aim of cutting down carbon emissions. Over the last year, the crypto industry has seen an increasing amount of collaboration between blockchain and AI technology. On Aug. 24, VeChain — a smart contract-compatible blockchain used for supply-chain tracking — announced a strategic collaboration with the decentralized AI services-sharing platform SingularityNET. In a joint statement, the firms said the partnership will merge VeChain’s enterprise data with SingularityNET’s…

Ethereum Records Massive Whale Activity Amidst ETH Price Drop: Santiment

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Over the last week, Ethereum (ETH) has seen its price take a slight hit following the general market crash due to reports of a massive Bitcoin sell-off. According to data from CoinMarketCap, ETH is down by 5.01% in the last seven days, bringing its total price loss in the previous month to 10.80%.  Albeit, despite Ethereum’s negative performance, the on-chain analytics platform, Santiment, has noted some positive developments in terms of whale activity. Ethereum Experiences Highest Whale Activity In 4 Months On Thursday, August 24, Santiment posted a report on X…

Australian exchange enlists PayPal as banks ‘close ranks’ against crypto

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The CEO of Australian crypto exchange Independent Reserve says it has turned to payments giant PayPal to hedge against increasing bank restrictions against crypto exchange payments. The exchange has partnered with PayPal to enable an on-ramp that will give Independent Reserve’s customers the ability to fund their crypto accounts directly with fiat from their PayPal wallet as well as using PayPal to withdraw funds from the crypto exchange. Speaking to Cointelegraph, Independent Reserve CEO Adrian Przelozny said the new partnership offered Australian crypto investors extra choice, and also mitigates the…