Day: October 9, 2023

OpenSea ‘unaware’ of any involvement of former exec in $60M rug pull

boss

Nonfungible token (NFT) platform OpenSea says it is unaware of any evidence pointing to a former employee being involved in the infamous AnubisDAO rug pull in 2021 following new accusations on social media.  In an Oct. 6 thread on X (formerly Twitter), the anonymous account NFT Ethics tagged OpenSea, asking it to respond to accusations that its former head of ventures, Kevin Pawlak, is linked to the pseudonymous identity “0xSisyphus” and was involved in “various dubious business dealings.“ 1/ Dear @OpenSea, what do you think of the fact that your…

LTC Could Retest $60 Before Fresh Surge

Litecoin price is struggling to gain pace above $66.40 against the US Dollar. LTC could revisit the $60 support before the bulls take a strong stand. Litecoin is correcting losses from the $63 support zone against the US Dollar. The price is now trading below $66 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $65.50 on the 4-hour chart of the LTC/USD pair (data feed from Kraken). The price could drop toward the $60 support before it starts a fresh…

Crypto exchange Upbit was targeted by hackers 159K times in H1: Report

boss

South Korean cryptocurrency exchange Upbit has been targeted by hackers on more than 159,000 occasions in the first half of 2023, according to its operating firm. The figures were reported by Dunamu — the firm operating Upbit — to South Korean Representative Park Seong-jung of the People Power Party, according to an Oct. 9 report by South Korea-based Yonhap News Agency. The figure marks a 117% increase from the first half of 2022 and a whopping 1800% increase from the first half of 2020. Upbit is one of South Korea’s largest…

Ethereum Price Topside Bias Vulnerable Unless It Surges Past $1,665

Ethereum price is slowly moving lower toward the $1,600 support against the US dollar. ETH remains at risk of more losses unless it clears $1,650 and $1,665. Ethereum is struggling to stay above the $1,600 support zone. The price is trading below $1,640 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels. Ethereum Price Holds…

Gitcoin screws up transfer, sends $460K to unrecoverable address

boss

Crypto developer platform Gitcoin has admitted to losing approximately $460,000 of Gitcoin (GTC) tokens after mistakenly sending the funds to an unrecoverable contract address. On Oct. 6, project lead “CoachJonathan” posted details of the incident on the Gitcoin governance forum. He said the transfer of GTC from the treasury was intended for a merchandise, memes, and marketing budget proposal. However, rather than going to a multisignature address, it instead went to a GTC token contract instead. “This has rendered the funds stuck in the contract, with no way of recovering…

US consumer watchdog mulls applying e-banking laws to crypto

The top United States agency for consumer financial protection is considering applying the Electronic Fund Transfer Act (EFTA) to crypto, in an attempt to protect consumers from fraudulent crypto transfers. Speaking at an Oct. 6 payments conference by the Brookings Institution think tank, Consumer Financial Protection Bureau (CFPB) director Rohit Chopra said his agency is looking at applying the EFTA to “private digital dollars and other virtual currencies.” “To reduce the harms of errors, hacks, and unauthorized transfers, the CFPB is exploring providing additional guidance to market participants to answer…

Bitcoin Price Could Restart Increase But Can Bulls Send BTC To $30K?

Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone. Bitcoin is holding gains and showing positive signs above the $27,450 zone. The price is trading above $27,800 and the 100 hourly Simple moving average. There is a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could soon revisit the $28,500 resistance zone in the near term. Bitcoin Price Aims Higher Bitcoin…

FTX used Python code to fake its insurance fund figure: Gary Wang

boss

Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund — a pool of funds meant to prevent user losses during huge liquidation events — according to testimony from FTX co-founder Gary Wang.  In a damning new testimony on Oct. 6, FTX’s former chief technology officer, Gary Wang, said that FTX’s so-called $100 million insurance fund in 2021 was actually fabricated, and also never actually contained any of the exchanges’ FTX tokens (FTT) as claimed. Instead, the figure shown to the public was calculated by…

Bitcoin is a ‘super logical’ step on the tech tree: OpenAI CEO

boss

OpenAI CEO Sam Altman has called Bitcoin (BTC) a “super logical” step on the tech tree, which is both free of government control while helping to fight corruption. “I’m excited about Bitcoin,” Altman told Joe Rogan during an Oct. 6 episode of The Joe Rogan Experience podcast. “I think this idea that we have a global currency that is outside of the control of any government is a super logical and important step on the tech tree.” The OpenAI boss’ wide-ranging interview with Rogan covered his thoughts on Bitcoin as a…