Month: September 2023

CoinEx to resume crypto services after $70m Lazarus hack

CoinEx, which reportedly lost $70 million in crypto to North Korean hackers, plans to restore deposits and withdrawals for several tokens including Bitcoin (BTC) and Ether (ETH) on Sep. 21. The crypto exchange announced the reconstruction and deployment of a new wallet system set for Thursday, Sep. 21, 2023, at 8:00 UTC. Following the CoinEx hack, the team decided to generate new deposit addresses for BTC, ETH, USDT, USDC, TRX, LTC, BCH, DOGE, SHIB, and BNB. All users were advised to only deposit crypto into the new wallet addresses.  Please…

Bitcoin Reserves On Exchanges Approaching A 6-Year Low, Good For Price?

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Bitcoin (BTC) held by leading crypto exchanges like Coinbase, Binance, and Kraken are near a six-year low, CryptoQuant data on September 20 reveals. The contraction was recorded when the broader market steadied after posting sharp losses in the better part of August and the first half of September. As of September 20, BTC prices are still below $30,000, but with important sideways movement over the past few weeks.  Bitcoin exchange reserves are declining. Source: CryptoQuant Bitcoin Reserves On Exchanges Falling  According to trackers, exchanges control 2.09 million BTC when writing.…

Bitcoin pioneer Hal Finney talks zk proofs in 25-year-old unearthed footage

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Early Bitcoin (BTC) pioneer Hal Finney shared his vision for zero-knowledge proofs more than 25 years ago, a full decade before the launch of the first cryptocurrency, Bitcoin.  The video, purportedly from the Crypto ‘98 conference held on Aug. 26, 1998, in Santa Barbara, shows Finney discussing in detail, the concept of zero-knowledge proofs — a cryptographic technology that gained immense popularity decades later. ️ NEW: Bitcoin legend Hal Finney discusses Zero-Knowledge Proofs in a newly unearthed presentation, made 25 years ago at Crypto ’98 in Santa Barbara. Have you ever…

Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $27.5K

Bitcoin price is struggling to clear the $27,500 resistance. BTC is slowly moving lower and might revisit the $26,200 support zone in the coming sessions. Bitcoin is still struggling to clear the $27,500 resistance. The price is trading above $26,800 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a bearish wave below $26,800 if it continues to struggle below $27,500. Bitcoin Price Faces…

INX Digital to list Unicoin security token on its trading platform

INX Digital Company Inc. announces the upcoming listing of asset-backed Unicoin security token on INX.One, expanding its regulated assets portfolio.  A U.S.-regulated broker-dealer, INX Digital Company divulged its plans through an official press release. Unicoin is set to join INX’s regulated trading platform that specializes in crypto and tokenized assets. A strategic partnership The Deputy CEO and COO of INX, Itai Avneri, lauded Unicoin’s innovative approach to investment. Noting the diversity of its global investor base, Avneri emphasized that the new listing will enhance the trading liquidity of listed tokenized…

Australian regulator sues Kraken provider over margin trading product

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The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings against Bit Trade, the provider of the Kraken crypto exchange in Australia, for failing to comply with design and distribution obligations for one of its trading products.  According to a Sept. 21 media release from ASIC, the Australian financial regulator alleged that Bit Trade did not make a target market determination before offering its margin trading product to Australian customers. Design and distribution obligations (DDO) are a legal requirement for firms that offer financial products in Australia. The obligations…

Polygon zkEVM Successfully Completes First Major Upgrade, Introduces Dragonfruit

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Polygon (MATIC) zkEVM, a zero-knowledge scaling solution designed to be compatible with the Ethereum Virtual Machine (EVM), has achieved a significant milestone by completing its first upgrade.  The upgrade, known as the Dragonfruit Upgrade, marks a significant step forward for Polygon zkEVM since its launch in mainnet beta in March 2023. Polygon zkEVM Implements Key Improvements As an EVM equivalent ZK rollup scaling solution, Polygon zkEVM aims to ensure seamless compatibility with existing smart contracts, developer tooling, and wallets. This compatibility allows for a “smooth transition” and continued operation without…

Justin Sun’s crypto initiative raises concerns for Huobi Global

Justin Sun’s stUSDT has quickly become a high-yield darling for crypto investors, amassing $1.8 billion in investments, but the project’s success brings both operational and reputational challenges for the affiliated Huobi Global exchange. In June, Justin Sun unveiled a new project that piqued the interest of crypto investors looking for high yields. Dubbed stUSDT, the project promised a compelling 5% return on low-risk securities such as government bonds. Within a mere two and a half months, stUSDT amassed a staggering $1.8 billion in investments, showcasing its meteoric rise and its…

Whales, Fresh Wallets Accumulating, Maker (MKR) Spikes 120% In 3 Months

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On-chain data reveals that whales and new wallets are scooping more Maker (MKR), which seems to be propping the token, fanning demand. As of September, MKR is one of the top-performing tokens, adding roughly 120% in three months from June 2023 lows. When writing, MKR is changing hands above $1,300 and inching closer to July 2023 highs. Notably, MKR is up 14% in the past week of trading, driving market cap above $1.27 billion and trading volume by 36% on the last day. Fresh wallet buying more MKR: NerdBot Whales And Fresh…

Balancer blames ‘social engineering attack’ on DNS provider for website hijack

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The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider was what led to its website’s front end being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X post. Approximately eight hours after the first warning of the attack, Balancer said its decentralized autonomous organization (DAO) was actively addressing…