Month: September 2023

Ethereum Co-Founder Vitalik Buterin Moves 400 ETH to Coinbase

Just a few hours ago, the Ethereum founder deposited 400 ETH to Coinbase. With the price of ETH at $1,573.35 as of the time of writing, the value of the transfer amounts to an impressive $629,200. Ethereum co-founder Vitalik Buterin has recently been observed engaging in noteworthy transactions involving ETH, specifically directing substantial deposits to Coinbase. This development has sparked a myriad of conversations, speculations, and a quest to understand the motives behind such significant ETH movements. Just a few hours ago, the Ethereum founder deposited 400 ETH to Coinbase.…

DeFi Platform Mixin Network Faces $200 Million Crypto Hack

Mixin Network immediately suspended the deposits and withdrawals stating that they would soon announce their decision to deal with the lost assets. Earlier today, the decentralized finance (DeFi) project Mixin Network announced the suspension of all deposits and withdrawals after losing $200 million in crypto assets in a recent hack. The SlowMist team was the first to report this incident. It also noted that the breach happened through a compromise in Mixin’s cloud service database. During the hack, Mixin had $94.48 million worth of Ether (ETH), $23.55 million in Dai…

Will Dogecoin Bounce Back To $0.07? Here’s What To Watch For

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Dogecoin (DOGE) has been ensnared in a prolonged period of stagnation, hinting at the ongoing battle between the bulls and bears for market control. This extended phase of inactivity has been persistent for over a month, signifying a short-term consolidation stage. Against the backdrop of a tumultuous cryptocurrency market, DOGE enthusiasts and investors are eagerly seeking cues for the coin’s next move. A meticulous examination of the daily chart in a price analysis unravels two distinctive patterns that have been shaping DOGE’s price trajectory. There is a range formation with…

Arbitrum DAO takes $56M of unclaimed ARB as airdrop deadline ends

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Arbitrum, a major Layer 2 solution for the Ethereum blockchain, has officially added the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to the Arbitrum’s decentralized autonomous organization (DAO) treasury on Sept. 24, the foundation announced on X (formerly Twitter). The foundation emphasized that Arbitrum users will no longer be able to claim ARB tokens anywhere. “Please be safe out there,” the Arbitrum Foundation added. At the time of writing, the transferred amount of ARB is worth around…

5 Challenges for the Ethereum Network

A year on from the Merge, however, centralization remains one of Ethereum’s biggest challenges. To stake on Ethereum, a validator needs to lock up 32 ETH, or roughly $50,000 with the network – funds that earn a steady stream of interest, but can be revoked if a validator errs or acts dishonestly. Setting up a validator node to stake on the network can also be a complicated task, meaning financial penalties can result if things are set up improperly. Source

Sam Bankman-Fried (Probably) Won’t Get a 115-Year Prison Sentence

“When a judge is sentencing a defendant in a multi-count case, assuming conviction on multiple counts, judges generally say ‘I’m going to distill this down to what the alleged crime is,’” Auerbach said. “If the essential crime is, let’s assume a conviction that Bankman-Fried misled his investors, his lenders and his customers, basically those are all variations on the same theme, so [the judge will] sentence for that core wrongful conduct.” Source

Australian Couple Who Mistakenly Received $10.5M from Crypto.com Shall Face October Plea Hearing

The couple purchased 4 real estate properties and also sent 4 million AUD to Malaysian bank. Melbourne-based couple who accidentally got $10.5 million shall be facing a plea trial in October amid theft charges for spending all the funds that were mistakenly sent by Crypto.com. In May 2021, Thevamanogari Manivel initiated a fund transfer to her partner Jatinder Singh’s Crypto.com account. However, the exchange identified a discrepancy between the bank account and the exchange account. As a result, a refund was initiated, but instead of returning the intended 100 AU$…