Tag: Million

Synapse Liquidity Provider Abruptly Dumps 9 Million SYN Tokens, Price Plunges By 20%

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Cross-chain bridge Synapse has seen the value of its native token SYN plummet after a liquidity provider (LP) dumped all their tokens. According to data from CoinGecko, the token’s price declined by nearly 25% a few hours after the sell-off. On Tuesday, 5th of August, Synapse Labs announced – via a post on X (formerly Twitter) – that one of the liquidity providers sold their SYN tokens and removed liquidity from the Synapse protocol.  Lookonchain reported a whale dumping 9 million SYN tokens an hour after this disclosure. According to…

Hottest New Meme Crypto ‘Sonik Coin’ Nears $1.5 Million Raised With 20 Hours Left In Presale

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The speedy new meme coin Sonik Coin (SONIK) has exploded past $1.35 million in its presale after launching less than three weeks ago.  Now, investors are poised with just 20 hours remaining to buy $SONIK at its presale price or face buying it on the open market after its initial exchange offering (IEO). With little time remaining, investors have begun piling into the presale at sonikcoin.com, opening the door to a possible sell-out due to its $2,098,547 hard cap. The project will be listed on Uniswap, with rumors circulating it…

Shibarium Achieves 1 Million Wallets Milestone amid SHIB Price Challenges

Kaal Dhairya, one of the key developers behind Shibarium, has revealed a series of significant upgrades aimed at bolstering the network’s capabilities while appreciating the community’s efforts to adopt the protocol. Shibarium, a layer-2 network associated with the Shiba Inu (SHIB) protocol, has reached a remarkable milestone, surpassing one million wallets within its ecosystem. This achievement stands out in the face of SHIB’s recent price decline of over 20% since the network launched in August. Shibarium’s recent surge in activity and the increase in wallets can be attributed to several…

South Korean Crypto Exchanges Must Keep $2.3 Million in Reserves Beginning September

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As part of enhanced consumer protection, South Korean cryptocurrency exchanges will be required to keep at least $2.3 million (3 billion won) in reserves in bank accounts. Media reports said these requirements were outlined in July guidelines issued by the Korea Federation of Banks.The Korean banking association asked the locally registered crypto exchanges to set aside a minimum of 3 billion won or 30% of average daily deposits in reserves to “fulfill their liability for damages to users” in the case of a risk event. However, the banking association has…

OnlyFans Parent Company Buys $20 Million Worth of Ethereum

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OnlyFans, the well-known adult content subscription platform, has made a bold move into the world of cryptocurrencies. Its parent company, Fenix International, recently revealed its significant investment of nearly $20 million in Ether (ETH) in 2022.  According to official financial filings submitted to the UK corporate registry, Fenix International acquired nearly $20 million worth of ETH over a two-year period. While the company’s investment in Ether demonstrates its progressive approach, it wasn’t immune to the market’s inherent volatility. By the end of November 2022, the value of Ether had plummeted…

PEPE Whale Exits After Making Over 54,000x Gain And $1.73 Million In Profit

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One of PEPE’s early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023. However, by the time the trader exited, less than six months later, selling off all his tokens, he had realized a decent gain, raking in 1,001 ETH, or roughly $1.7 million at spot rates. PEPE…

$6.5 Million Lost In Latest Base-Native DeFi Protocol Rug Pull

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Magnate Finance, a DeFi lending protocol on the Ethereum layer-2 network Base, is reported to have conducted a rug pull, robbing its users of $6.4 million worth of assets. This event represents the latest troubling incident on the Base network in merely a month of its official mainnet launch. 3 Rug Pulls, $16.7 Million Lost – Who’s Responsible?  On Friday, August 25, blockchain security intelligence Peckshield confirmed Magnate Finance’s rug pull, stating that the project developers manipulated the provider of the price oracle, allowing them to withdraw all assets of…

Shiba Inu Burn Sees Another 350 Million Meme Coins Incinerated

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The world of digital currency has brought some challenges to the Shiba Inu (SHIB) ecosystem. The ups and downs in this digital money landscape have caused the value of many coins connected to SHIB to drop, making things a bit shaky. But here’s something good: the SHIB token burn is happening faster than before. This means they’re getting rid of more tokens, which is a positive thing. It’s like a bright spot in the midst of all these changes, showing that there’s something strong and good still happening in the…

XRP whale moves 29 million tokens to Bitstamp amid price slide

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As XRP (XRP) struggles to maintain upward momentum following Judge Analisa Torres’ summary judgement in the United States Securities Exchange Commission v. Ripple Labs case that XRP isn’t a security, investors appear to be selling off their holdings. Adding to this, a significant whale has moved 29 million XRP, valued at over $15 million, to a crypto exchange amid a price decline approaching the support level. Whale Alert posted on Aug. 24 that a large holder transferred 29.3 million XRP worth $15.13 million to Bitstamp exchange. Additional information suggests the possibility…

Israeli police links local businessman to $290 million crypto scam

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Israeli police are accusing Moshe Hogeg of fraud and allege that he was involved in a $290 million crypto scam. They now want state prosecutors to charge him. According to local reports, police claim that Hogeg might have committed multiple crimes, ranging from wire fraud, theft, money laundering, and sex-related offenses where he raised $290 million by primarily scamming investors to participate in fake crypto projects. In November 2021, he was apprehended and placed under house…