Month: September 2023

North Korean Hackers Tapping Russian Crypto Exchanges To Funnel Illicit Digital Assets, According to Chainalysis

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A market intelligence firm says that hackers from North Korea are using Russian crypto exchanges known to launder money to move stolen digital assets. In a new blog post, crypto analytics platform Chainalysis says on-chain data reveals that hacking groups linked with North Korea are using Russian crypto exchanges to launder funds stolen from the exploitation of decentralized app project Harmony (ONE) earlier this year. “In the wake of a historic arms meeting between Kim Jung-un and Vladimir Putin, on-chain data reveals disturbing information: Democratic People’s Republic of Korea (DPRK)-linked…

PolkaWorld ceases operations, criticizes Polkadot’s OpenGov governance system

PolkaWorld has announced its decision to cease operations after Polkadot’s treasury rejected its funding proposal.  PolkaWorld, a community in the Polkadot ecosystem, raised concerns over treasury management under Polkadot’s new open governance platform, OpenGov, claiming that it negatively affects long-term ecosystem contributors. PolkaWorld cited numerous instances where the treasury denied organizations and subsequently left the Polkadot ecosystem. The previous governance system — where a council elected by Polkadot DOT holders evaluated proposals — was more effective and should be incorporated into the current OpenGov model, it argued. 🫥 It’s super…

Magic Eden adds support for Solana-powered compressed NFTs 

The Magic Eden non-fungible token (NFT) marketplace has expanded its support for compressed NFTs (cNFTs) — a new system of NFT creation powered by Solana. This strategic decision offers creators a cost-efficient solution for their digital collectible minting, the company explained. Magic Eden, which recently welcomed BRC-20 tokens to its multi-chain platform, announced its support for cNFTs on X, formerly known as Twitter. At a time when the longstanding crypto winter is crippling NFT trading volume, Magic Eden says the latest feature will bring about a notable transformation in non-fungible…

DeFi economic activity drops 15% in August —VanEck

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The decentralized finance (DeFi) ecosystem has suffered more setbacks in August as on-chain economic activity dwindled. According to an analysis from investment manager firm VanEck, exchange volume declined to $52.8 billion in August, 15.5% lower than in July.  The findings are based on VanEck’s MarketVector Decentralized Finance Leaders Index (MVDFLE), which tracks the performance of the largest and most liquid tokens on DeFi protocols, including Unisawp (UNI), Lido DAO (LDO), Maker (MKR), Aave (AAVE), THORchain (RUNE), and Curve DAO (CRV). ​​The DeFi Index underperformed Bitcoin (BTC) and Ether (ETH) in…

Jaguars quarterback Trevor Lawrence reaches resolution in FTX endorsement lawsuit

Jacksonville Jaguars quarterback Trevor Lawrence, who previously endorsed the now-defunct FTX, is ready to pay settlements to clear his name. Lawrence is among the list of famous names who promoted FTX and is currently facing charges related to the fall of the exchange. Lawrence, high-profile figures embroiled in FTX scandal Lawrence is set to settle allegations surrounding his endorsement of the now-defunct FTX cryptocurrency exchange. This settlement, which also includes YouTube influencers Kevin Paffrath and Tom Nash, forms part of a legal battle involving sports figures accused of participating in…

Celsius acquires Texas mining site from Core Scientific for $14m

Core Scientific sold a Cedarvale, Texas-based mining location to bankrupt crypto lender Celsius for $14 million, while also releasing $31 million worth of claims against the company. According to a court filing, Core Scientific jettisoned the mining location in Ward County, Texas. The deal with Celsius came to light in a Thursday court filing, which also revealed that Core Scientific is releasing its $31 million worth of claims against Celsius, elevating the overall transaction to $45 million. Celsius court filing The court filing stated, “After months of negotiations, Celsius and…

Mark Cuban loses $870K in MetaMask-related crypto scam

Renowned entrepreneur and Dallas Mavericks owner Mark Cuban reportedly fell victim to a cryptocurrency scam, resulting in a loss of nearly $870,000 across various digital assets. How Mark Cuban fell victim According to DL News, Blockchain sleuth WazzCrypto was the first to detect suspicious activities on a wallet titled “Mark Cuban 2” on EtherScan. Cuban was caught off guard when DL News informed him about the suspicious wallet movements. The billionaire later confirmed that he had been scammed, saying, “Someone got me for 5 ETH.” Cuban believes the exploit happened…

Glassnode Co-Founders Weigh In On Bitcoin (BTC) Path To $30,000

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Bitcoin has had an eventful week, gaining by over 5% to trade above the $26,000 price. Even following the release of the US Consumer Price Index, which showed an inflation rise of 0.6%, the premier cryptocurrency remained resilient with little to no price drops. As BTC now hovers around the $26,500 price mark, market analysts and crypto enthusiasts continue to speculate on the token’s next movement.  Notably, co-founders of market intelligence platform Glassnode Jan Happel and Yan Allemann have plotted a possible path through which Bitcoin may return to $30,000…

Base Posts New All-Time High In Daily Transactions Amidst Friend.tech Resurgence

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Base, the Coinbase-incubated Ethereum layer 2 (L2) network, has seen rising adoption since opening its door to the public barely a month ago. While the blockchain platform has gained significant traction, its pool of users and protocols has also witnessed substantial expansion. In a testament to this rapid growth, Base recently registered its highest number of transactions in a single day. Base Network Records Massive On-Chain Activity In One Day According to data from IntoTheBlock, Base has seen its daily transactions soar to a new all-time high. The blockchain platform…

Magic Eden integrates Solana’s compressed NFTs into marketplace

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Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles. Today we’re releasing support for cNFTs (find them in our popular collections) cNFTs are a new wave of NFT creation only possible on Solana. The “c” stands for compressed (not Cardano don’t worry) which allows them to be produced at a fraction of the cost of traditional… pic.twitter.com/WbO4qqWLEt — Magic Eden (@MagicEden) September 14, 2023 cNFTs are different from the usual Solana NFTs…