Day: August 25, 2023

Agency loses $55K in address poisoning scam

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The United States Drug Enforcement Administration (DEA) — the agency tasked with enforcing the country’s drug laws — lost $55,000 in seized Tether (USDT) earlier this year at the hands of a scammer. Forbes reported on Aug. 24 that in May, the agency seized over $500,000 worth of USDT from two Binance accounts it suspected of laundering money from drug sales as part of a multi-year investigation. The funds were put in DEA-controlled Trezor crypto wallets and stored securely, according to a search warrant seen by Forbes. As part of…

CZ Breaks Silence, Refutes Binance’s Bitcoin Dumping Allegations To Safeguard BNB

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In response to mounting speculation and accusations circulating within the crypto community, Binance CEO Changpeng Zhao (CZ) has addressed allegations of a significant sell-off of Bitcoin (BTC) by Binance. These allegations have been linked to a 7% BTC price drop.  CZ took to Twitter to respond, reposting a thread by a user named ZkHopium, who provided a detailed analysis debunking the claims and highlighting the fundamental basis of the situation. CZ Debunks Allegations Of Bitcoin Dumping The thread by ZkHopium sheds light on the events surrounding the Binance Coin (BNB)…

US SEC charges former police lieutenant over a crypto scam

The United States Securities and Exchange Commission (SEC) is charging John A. DeSalvo for his alleged involvement in a crypto scam. John A. DeSalvo, a former lieutenant at the New Jersey Department of Corrections, is said to have created a crypto scam targeting fellow police officers. According to information provided by the SEC, DeSalvo raised nearly $623,388 from 222 investors. Gurbir S. Grewal, director of the SEC’s Division of Enforcement, said: “We allege that DeSalvo orchestrated several fraudulent investment schemes that targeted law enforcement personnel and promised astronomical returns, including…

1inch Launches DEX Aggregation Protocol On Base Network

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Decentralized exchange (DEX) aggregator 1inch Network has announced the expansion of its operations to Coinbase’s Ethereum layer 2 (L2) network, Base.  1inch’s Aggregation And Limit Order Protocols Go Live On Base In a blog post published on Thursday, August 24, 1inch disclosed the deployment of its aggregation protocol and limit order protocol on the Coinbase-incubated Base network.  The project’s team stated that this action is in line with their goal to expand in the decentralized finance (DeFi) industry.  1inch will begin its operation by aggregating liquidity across 15 decentralized exchanges…

PEPE plunges 15% as strange token movements spark fears of rug pull

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The price of the frog-themed memecoin Pepe (PEPE) has plunged nearly 15% after recent changes to a multisig wallet and new token transfers ignited fears of a “rug pull” by its developers.  The allegations — as well as the negative price action — came as $16 million worth of Pepe tokens were sent from the developers’ multisig wallet to various crypto exchanges on Aug. 24. 1/4 1 hour ago, the Pepe multisig wallet, changed the amount of signatures required on their multisig from a 5/8 to 2/8. This comes after sending…

ARK Invest, 21Shares join queue to offer Ethereum futures ETF

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Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications. The two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), according to an Aug. 24 filing to the Securities and Exchange Commission. The filing states that ARKZ would invest at least 25% of its total assets in cash-settled Ethereum futures contracts, such as…

Charles Hoskinson says SEC will not charge Cardano

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent interview, Charles Hoskinson confirmed that the United States Securities and Exchange Commission (SEC) has no plans to take action against Cardano. This news was reassuring and is amid the uncertainty in the crypto regulatory landscape. Regulations surrounding crypto have sparked extensive discussions and speculations. As various projects, including exchanges like Binance and Coinbase, are scrutinized, investors and enthusiasts are actively seeking clarity on how specific digital assets, including ADA, are being approached by…

Ethereum Whales Ready For Next Leg-Up After Buying 56,000 ETH

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Following the crypto market crash last week, Ethereum whales look to be gearing up for a recovery as they accumulate ETH. This accumulation trend is very telling of what these large investors expect the market to do next, which could serve as an indication of what’s to come. Ethereum Whales Buy Over 56,000 ETH On Thursday, the on-chain data tracker Lookonchain took to X (formerly Twitter) to reveal the activities of Ethereum whales over the last week. The post shed light on the sentiment among these large holders and showed…