Month: August 2023

Worldcoin’s Orb had serious security vulnerability in operator onboarding: CertiK

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The controversial Worldcoin project had a serious security vulnerability, CertiK has disclosed on X (formerly known as Twitter). Worldcoin pays people to become part of its World ID ecosystem by submitting scans of their irises through a device Worldcoin calls an Orb.  According to security platform CertiK, the vulnerability in the vetting process for operators could have allowed an attacker to bypass the verification process and operate an Orb without being interviewed or having a proper ID. “It would not need to be a company,” according to the post. 1/…

Korean superconductor LK99 joins memecoin craze

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Last month, a team of South Korean scientists claimed they engineered a superconducting material, dubbed LK-99, that works under ambient temperature and pressure. In layman’s terms, the team allegedly created a material allowing electrical currents to flow without resistance or energy loss. Previously, such types of materials were only thought to have functioned at absolute zero temperatures. First claimed successful replication of LK-99 Accomplished by a team at the Huazhong University of Science and Technology and posted 30 minutes ago. Why this is evidence:The LK-99 flake slightly levitates for both…

Crypto Trading Volumes Fall To Lowest Level In 2023 Amid Bear Market Woes

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According to a report by CCData, a digital assets data provider, crypto trading volumes on centralized exchanges in July fell to their lowest this year as the bear market lingers. Spot trading volumes dipped by 10.5% to $515 billion, while derivatives volume dipped by 12.7% to $1.85 trillion.  This slump has been attributed to the low volatility in the price action of the two leading crypto tokens – bitcoin and ether. Both tokens have continued to experience sideways price movement since the beginning of July, thus keeping the market players…

Germany is dragging Europe’s economy down — and that’s great for crypto

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In the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman discusses the recession in Germany, Europe’s largest economy. According to a recent headline in The Wall Street Journal, “Germany is dragging down Europe’s economy.“ The article explains how the country heavily depends on manufacturing, which has been hurt as foreign governments rush to protect domestic industries. According to Pechman, Germany’s gross domestic product (GDP) ranks fourth globally, 42% bigger than France’s GDP. Moreover, manufacturing is responsible for nearly 20% of its economy. To make things worse, the manufacturing industry…

Crypto Investor HashKey Aims to Raise $100M for New Digital Assets Fund

HaskKey Capital, a digital asset financial services firm, announced plans to launch a liquid digital assets fund regulated by the Hong Kong Securities and Futures Commission (HK SFC) on September 1. HashKey is aiming to raise at least $100 million for the open-ended fund, which will focus entirely on virtual assets, a HashKey representative told CoinDesk. Original Source 100MAimsAssetsCryptoDigitalFundHashkeyInvestorRaise CryptoX Portal

Bitfinex Heist: Ilya Lichtenstein Admits He Was Behind Colossal 2016 Crypto Exchange Hack

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The notorious “Crypto Couple” Ilya Lichtenstein and Heather Morgan pled guilty on Thursday to money laundering conspiracies relating to the massive 2016 hack on the crypto exchange Bitfinex. Lichtenstein also copped to executing the hack himself, clearing up years of mystery regarding how the couple first came into possession of the stolen Bitcoin (BTC) from Bitfinex. The U.S. Department of Justice (DOJ) says Lichtenstein used “a number of advanced hacking tools and techniques” to crack Bitfinex’s network and fraudulently authorize more than 2,000 transactions. In total, he transferred 119,754 BTC,…

Crypto Miner Argo Blockchain Mined 129 Bitcoins in July 2023

Argo Blockchain PLC, a leading global cryptocurrency miner listed on both the London Stock Exchange (LSE:ARB) and NASDAQ (NASDAQ:ARBK), has released its operational update for July 2023. The company reported mining 129 Bitcoin or Bitcoin Equivalents (BTC), averaging 4.2 BTC per day. This represents an 11% decrease from the daily average of 4.6 BTC in June 2023, primarily due to increased downtime at the Helios facility caused by weather-related curtailment and onsite construction. Despite the decrease in BTC production, Argo Blockchain’s mining revenue for July remained stable at $3.87 million,…

Core Scientific appoints Adam Sullivan as CEO amid restructuring process

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Publicly traded Bitcoin (BTC) miner Core Scientific has appointed Adam Sullivan its CEO. Sullivan, who previously served as the company’s president, took the role on Aug. 4, while co-founder and former CEO Mike Levitt remains chairman of the board. Sullivan has over a decade of financial services experience, particularly in digital assets and infrastructure, with a background that includes strategy, corporate finance, and mergers and acquisitions. Before joining Core Scientific, he held roles at XMS Capital Partners, overseeing transactions totaling over $5 billion, including Core Scientific’s merger with Power &…