Day: November 23, 2023

Justin Sun’s cryptocurrency venture loses over $100m in recent hack

In a Nov. 22 post from the cybersecurity firm Cyvers Alerts, it was reported that a suspicious address received $12.4 million from HTX exchange. At the same time, another address accumulated approximately $85 million from HECO Chain bridge, both linked to Justin Sun’s business ventures. Taken together, the alert suggests that Justin Sun’s Poloniex, a prominent cryptocurrency exchange, is now facing the results of a loss of more than $100 million in various cryptocurrencies. Additional data from Arkham Intelligence highlights that HECO Chain Bridge transferred a large number of Tokens to the…

KyberSwap DEX exploited for $46 million, TVL tanks 68%

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Around $46 million in various crypto assets has seemingly been drained from the decentralized KyberSwap exchange in the latest decentralized finance exploit. On Nov. 23, the Kyber Network team alerted its users stating in an X (Twitter) post that KyberSwap Elastic “has experienced a security incident.” It advised users to withdraw their funds as a precaution and added it was investigating the situation. Urgent Dear KyberSwap Elastic Users,We regret to inform you that KyberSwap Elastic has experienced a security incident. As a precautionary measure, we strongly advise all users to…

Director YOLO’d $4M of Netflix budget into Dogecoin, made $27M: Report

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The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding. The Times report details the behind-the-scenes drama of Rinsch’s sci-fi Netflix series Conquest, which the streaming giant doled out $55 million to make, but is yet to receive an episode. In March 2020, 16 months…

CEO’s Bold Prediction Points To 10 US States Adopting Pro-BTC Laws In 2024

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In a recent statement, Dennis Porter, the co-founder and CEO of Satoshi Action Fund, expressed his belief that the year 2024 will mark a crucial turning point in the history of Bitcoin.  Porter’s remarks amidst growing anticipation surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) and the highly anticipated halving event scheduled for April 2024.  According to Porter, these events, combined with the efforts of the Satoshi Action Fund, have the potential to impact the price and adoption of Bitcoin significantly. Satoshi’s Plan To Establish The US As Global…

Nansen reports continued withdrawals from Binance

According to a Nov. 22 post, despite withdrawals continuing, Nansen is not seeing a mass exodus of funds. Among withdrawals, including a $17 million negative netflow, there were more outflows than inflows earlier in the day. An uptick in holdings At the same time, the blockchain analytics firm has seen noteworthy growth, rising from $64.6 billion to $65.2 billion, factoring in both outflows and price fluctuations during this period. Here’s our latest update on @binance, 12 hours after our previous one At the time of writing, withdrawals are continuing, and…

BNB Price Crash To $5 Unlikely Despite Binance Critic’s Dire Predictions

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A Binance critic, “Whale Wire,” on X, who also claims to be a crypto whale, has issued a bold prediction that BNB, the native currency of the BNB Chain and which is used to incentivize trading activity on Binance, could plunge 95% to under $5 in the coming months.  Regarding Binance agreeing to pay $4 billion in fines related to legal settlements with U.S. regulators, Whale Wire argued that tighter oversight will supposedly “destroy Binance’s entire business model.” He further contended bankruptcy could be imminent as the effects of the BNB lead…