Tag: Million

Elliptic Analysis Says $477 Million Stolen From FTX, ‘Accounts Drainer’ Becomes 35th Largest ETH Holder – Bitcoin News

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Three days ago, on Nov. 11, 2022, it was reported that FTX’s wallets saw unusual activities and FTX Telegram channel admins stressed that FTX was “hacked.” The same day, the new FTX CEO John Ray confirmed there were “unauthorized transactions.” A report by the blockchain intelligence firm Elliptic explains that out of “more than $663 million” worth of tokens moved, it is estimated that “$477 million is suspected to have been stolen.” Elliptic Says More Than $477 Million Siphoned from the FTX Exchange Wallet The blockchain analysis and intelligence company…

Crypto.com’s Exposure to FTX Less Than $10 Million Says CEO — CRO Token Not Used as Collateral – Featured Bitcoin News

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According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure to the crypto platform was below $10 million. Marszalek also claimed that Crypto.com has never used its crypto token as collateral. Crypto.com’s Business Model Kris Marszalek, the co-founder and CEO of Crypto.com, recently told his followers that when FTX collapsed, much of the $1 billion that was sent to the…

Renault Launches Its Industrial Metaverse, Aims to Save $330 Million by 2025 – Metaverse Bitcoin News

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Renault, one of the biggest automakers in the world, has announced it has built the first industrial metaverse, with all its production lines supplying data to this world. According to the company, this digital twin replica will allow it to save $330 million by 2025, diminishing warranty expenses, delivery times, and the carbon footprint of its activities. Renault’s Industrial Metaverse Already in Motion Automobile company Renault has announced that it is already running an industrial metaverse of its activities, fueled by a series of processes that allow the company to…

Former Huobi-linked entity says it has $18.1 million stuck on FTX

According to a new filing with the Stock Exchange of Hong Kong on Monday, investment holdings company New Huo Technology, formerly known as Huobi Global, said that it has $18.1 million worth of deposits stuck on troubled cryptocurrency exchange FTX. Of this amount, $13.2 million consisted of client’s deposits, and $4.9 million comprised of assets belonging to Hbit, another subsidiary.  New Huo Technology is majority-owned by Chinese businessman Lin Li, who also created Huobi Global, the 20th largest crypto exchange worldwide by trading volume. On November 13, the company disclosed…

Bitget Prepares 5 Million USD Builders Fund to Help Users Distressed by FTX Collapse – Press release Bitcoin News

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press release PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, influencers and professional traders who are distressed by the FTX collapse. The market witnessed the collapse of FTX within a week, and worse still, the exchange announced their wallet was hacked after filing for bankruptcy protection in the US. The remaining funds in the company have been wiped out completely. No one is the winner in this chaos,…

Fiat-to-Crypto Company Ramp Raises $70 Million to Solve the Crypto Onboarding Problem – Exchanges Bitcoin News

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Ramp, a fiat-to-crypto company, has announced it has raised $70 million as part of its Series B funding round. The round was co-led by Mubadala Capital and Korelya Capital, with Balderton Capital and Cogito Capital participation. The company explained that these funds would allow it to improve its app further and keep hiring talent. Ramp Raises $70 Million in Series B Funding Round Ramp, a company that specializes in providing fiat to crypto and crypto to fiat flows for different Web3 applications, announced it had raised $70 million in its…

Ukraine’s Cyberpolice Expose Members of Crypto Fraud Scheme Making €200 Million a Year – Bitcoin News

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A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees in a number of European countries. Cyberpolice Department Busts Ukrainian Arm of International Financial Fraud Scheme The cybercrime combatting unit of the National Police of Ukraine (NPU) has exposed five Ukrainian citizens accused of participating in a large-scale international scheme that lured victims with promises of high profits from fake investments in cryptocurrencies and securities. The…

Manhattan District Attorney Freezes $1.3 Million in Crypto — Seeks to Return Funds to Fraud Victims – Regulation Bitcoin News

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Manhattan District Attorney (DA)’s Office has frozen more than $1.3 million in cryptocurrency “during fraud investigations conducted over the past ten months.” The authority said: “We are returning that money to the victims of these schemes — while raising awareness to prevent future fraud.” $1.3 Million in Cryptocurrency Frozen Manhattan District Attorney (DA) Alvin Bragg announced Thursday that his office has “frozen more than $1.3 million in cryptocurrency during fraud investigations conducted over the past ten months.” Bragg detailed, “Using our blockchain analysis expertise, our investigators, prosecutors, and specialized cryptocurrency…

FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags – Altcoins Bitcoin News

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Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda Research, the token is still trading for $1.85 per unit. Moreover, FTT’s deployer contract surprisingly unlocked 192 million FTX tokens on Nov. 12, 2022. While a few crypto exchanges have halted FTT deposits, crypto coin aggregation sites like coingecko.com have flagged the…

3,500 ‘Sleeping Bitcoins’ From 2011 Worth Over $60 Million Wake up After 11 Years of Slumber – Bitcoin News

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On Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockfi, 3,500 ‘sleeping bitcoins’ from a wallet created on Oct. 7, 2011, moved for the first time in over 11 years. $60 Million Worth of 11-Year-Old Bitcoins Move Amid the Crypto Market Rout A large string of so-called ‘sleeping bitcoins’ moved on Friday morning (ET) after remaining idle for more than 11 years. The 3,500 BTC worth over $60 million stemmed from seven different BTC addresses created on Oct. 7, 2011. It is the first large string…