Day: September 25, 2023

Optimism Slumps Most Among Crypto Majors Ahead of $30M Token Unlock

Cryptocurrency projects often lock a part of the token’s supply and release it gradually to prevent early investors and insiders from selling in large quantities immediately after they get the allocations. When the tokens are unlocked, they become available to sell, and thus, such events are usually considered bearish; often they induce price drops. However, sometimes investors front-run and may sell before the unlocking happens. Source

Hong Kong to tighten crypto regulation, Thailand to tax crypto overseas: Law Decoded

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Hong Kong regulators are looking to tighten the noose around the crypto market after arresting six individuals following allegations of fraud around an unlicensed crypto exchange, JPEX. The government intends to increase its efforts to inform investors and remind them only to utilize platforms granted Securities and Futures Commission licenses.  Meanwhile, Thailand’s Revenue Department plans to impose personal income tax on foreign revenues, including those from crypto trading, of any person residing in Thailand for more than 180 days. Under the previous regulation, only foreign income remitted to Thailand in…

Mixin Network temporarily halts operations following $200m defi exploit

Mixin Network has temporarily suspended its deposit and withdrawal services following a major attack, jeopardizing over $200 million in crypto assets. A defi protocol Mixin Network has verified a report from blockchain security firm SlowMist, confirming a hack involving over $200 million. 🚨SlowMist Security Alert🚨 On September 23, the Mixin Network cloud service provider database was attacked, the amount of funds involved was ~ $200M. SlowMist is assisting in the investigation. Please wait for @MixinKernel updates for more information. — SlowMist (@SlowMist_Team) September 25, 2023 According to a statement released…

$200 Million In Crypto Lost As Mixin Network Comes Under Attack

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Decentralized finance peer-to-peer service Mixin network, experienced an attack on Saturday, September 23, 2023, leading to $200 million worth of crypto funds lost as a result of the attack. $200 Million In Crypto Lost In The Attack The decentralized finance (DeFi) network Mixin network revealed that the attack was caused by a compromise in the network’s cloud service provider database. The attack reportedly led to a loss of approximately $200 million worth of crypto funds stolen from its mainnet. Blockchain security platform Peckshield conducted a separate investigation and it was…

Crypto Exchange HTX Suffers $8 Million Ether Hack, Justin Sun Confirms

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HTX, formerly known as Huobi, has fallen victim to a security breach resulting in the loss of 500 ether (ETH), valued at approximately $8 million. This incident, as reported by HTX advisor and Tron founder Justin Sun, transpired on Sunday and was promptly detected. Sun assured the crypto community via the social media platform X (formerly Twitter) that HTX has fully covered the incurred losses, assuring the safety of all funds. The compromised wallet appears to be one of HTX’s hot wallets, which has received approximately $500 million in deposits…

SEC raises concerns over Coinbase in objection to Celsius restructuring plan

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The United States Securities and Exchange Commission (SEC) has filed an objection to Celsius Network’s reorganization plan based in part on the regulator’s own ongoing lawsuit with crypto exchange Coinbase. In a Sept. 22 filing in U.S. Bankruptcy Court for the Southern District of New York, the SEC filed a limited objection and reservation of rights over Celsius’ most recently proposed restructuring plan. The fourth revision of the bankruptcy plan, filed on Aug. 15, followed an initial proposal in March but has not been approved. A supplement to the reorganization…

Bitcoin Social Media Talk Drops To 3-Month Low, All Eyes On Altcoins?

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Data shows the social media talk around Bitcoin has dropped to low levels recently, indicating that investors are paying attention to altcoins instead. Bitcoin Social Dominance Has Declined To Just 17% Recently According to data from the on-chain analytics firm Santiment, BTC-related discussions on social media have dropped recently. The relevant indicator here is “social dominance,” based on the concept of “social volume.” The social volume of any asset is a measure of the degree of talk it receives on the major social media platforms. The metric makes this measurement…

Princess Diana’s law firm to file a lawsuit against OneCoin

The British law firm that represented Diana, Princess of Wales, is now going after OneCoin masterminds. Mishcon de Reya, a London-headquartered international law firm, is about to file a class-action lawsuit on behalf of OneCoin investors who suffered losses as a result of the crypto fraud. In a press release published on Monday, Sept. 25, the firm said that a civil claim would be brought in London’s High Court in an effort to “recover for investors the losses they suffered at the hands of those who perpetrated the fraud.” Mishcon…

ChatGPT can now speak, listen and see images

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The generative artificial intelligence (AI) space continues to heat up as OpenAI has unveiled GPT-4V, a vision-capable model, and multimodal conversational modes for its ChatGPT system.  With the new upgrades, announced on Sept. 25, ChatGPT users will be able to engage the chatbot in conversations. The models powering ChatGPT, GPT-3.5 and GPT-4, can now understand plain language spoken queries and respond in one of five different voices. ChatGPT can now see, hear, and speak. Rolling out over next two weeks, Plus users will be able to have voice conversations with…

Cardano Sees Spike In Activity, Can The Price Of ADA Follow?

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Cardano (ADA) has been experiencing a persistent downside trend since the start of 2023; the selling pressure has increased in the past week. However, network development continues to grow and could hint at a reversal for the cryptocurrency. Cardano (ADA) trades at $0.24 with sideways movement on its weekend price action as of this writing. In the previous seven days, the cryptocurrency recorded a 4%, with the potential for further losses if the price of Bitcoin continues on its current trajectory. ADA’s price trends to the downside on the daily…