Exactly Protocol, a decentralized credit market on the Optimism (OP) blockchain, has been targeted by a bridge exploit worth as much as $12 million. Source
Crypto Lender Exactly Hit by $12M Bridge Exploit
Month: August 2023
Bitcoin Liquidations Top $500 Million Amid $1 Billion Crypto Decimation
Bitcoin liquidations have been ramping up over the last day following the market crash that rocked the crypto space on Thursday. The result of this is a liquidation event, the likes of which have not been seen since the FTX collapse back in 2022. And Bitcoin’s numbers have shot up as long traders are completely obliterated in the process. Largest Single Crypto Liquidation Event In 2023 Following Bitcoin’s price decline to the low $25,000s, the liquidations picked up quickly with over $1 billion dollars of crypto positions being closed rapidly.…
Chinese giant’s impact on digital markets
China’s Evergrande’s bankruptcy filing reverberates in the crypto markets, triggering significant drops in major digital assets and casting a shadow over Tether’s financial backing. Once the leading property developer in China, Evergrande has recently transformed into a prominent representation of China’s property crisis. On Aug. 17, Evergrande sought refuge from debtors by filing for Chapter 15 protection under the US bankruptcy code. This provision assists non-US companies in shielding themselves during restructuring, keeping creditors at bay. Evergrande’s affiliate, Tianji Holdings, followed suit in Manhattan bankruptcy court. This development underscores the…
What is Feedzai, and how is it used to detect financial fraud?
Financial scams are rising, with losses amounting to $8.8 billion in 2022 alone. According to the United States Federal Trade Commission, losses from financial fraud have increased by 30% from 2021 to 2023. This paints a dire portrait of the dark underbelly of digital advancement, with scammers now leveraging generative artificial intelligence (AI) to craft increasingly complex and realistic scams. Multiple reports suggest scammers can create chatbots that mimic human conversation, ask for personal financial details, create malware, write sophisticated phishing emails and even mimic human voices. The immediacy of…
SpaceX Bitcoin write-down sparks confusion, Bitcoiners quiz Elon Musk
SpaceX’s Bitcoin write-down report on Aug. 18 sparked confusion among the crypto community. The report published in The Wall Street Journal puzzled many, who questioned whether SpaceX held $373 million worth of Bitcoin (BTC) and sold it in 2021–2022 or whether they only reduced their Bitcoin exposure by the same amount. Several social media outlets reported that SpaceX had sold its entire BTC holdings, while others expressed uncertainty, claiming they were unable to confirm the amount based on the wording of the report. I actually read the WSJ report. I…
Single Trader Lost $55M on Ether Long Yesterday
CryptoX – Cryptocurrency Analysis and News Portal That was nearly 30% of all liquidated futures on Binance, the data shows. Source The post Single Trader Lost $55M on Ether Long Yesterday appeared first on CryptoX. CryptoX Portal
Shiba Inu Price Shows Resilience As Shibarium Reboots
Shibarium, Shiba Inu’s layer-2 network, is still waiting for a reboot. At the time of going to press, Shibarium was still not producing any blocks, as Shibariumscan.io’s block explorer shows. As a reminder, Shiba Inu’s highly anticipated layer-2 went offline minutes after its official launch on Wednesday. In the wake of the unexpectedly high traffic that temporarily took the Shibarium network offline, the Shiba Inu team is diligently working on a solution to restore normalcy, the devs assured today. With many investors keeping a close eye on developments, there is…
ICO consultation on the draft biometric data guidance
The Information Commissioner’s Office (ICO) is producing guidance on biometric data and biometric technologies. The first phase of this guidance (draft biometric data guidance) is now published for public consultation. The second phase of this guidance (biometric classification and data protection) will include a call for evidence early next year. The draft biometric data guidance explains how data protection law applies when you use biometric data in biometric recognition systems. The consultation will run from 18 August to 20 October 2023. Source
Shiba Inu’s Shibarium Network resumes block production after brief pause
Shiba Inu’s layer-2 Shibarium network has resumed block production following a nearly day-long transaction pause. As per Shibariumscan.io block explorer, Shiba Inu’s layer-2 blockchain, Shibarium, has reactivated and is generating blocks. The Shibarium network entered a fail-safe mode and paused operations to safeguard funds due to unexpectedly high traffic after the mainnet launch. Lead developer Shytoshi Kusama verified that elevated blockchain traffic led to certain challenges, saying that fund security remains intact. He asserted that both the bridge and the chain are functioning smoothly and Shibarium is poised for a swift restart.…
ChatGPT politically biased toward left in the US and beyond: Research
ChatGPT, a major large language model (LLM)-based chatbot, allegedly lacks objectivity when it comes to political issues, according to a new study. Computer and information science researchers from the United Kingdom and Brazil claim to have found “robust evidence” that ChatGPT presents a significant political bias toward the left side of the political spectrum. The analysts — Fabio Motoki, Valdemar Pinho Neto and Victor Rodrigues — provided their insights in a study published by the journal Public Choice on Aug. 17. The researchers argued that texts generated by LLMs like…