Tag: Token

KyberSwap exploiter linked to $50M HXA token movement

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Blockchain security firm Cyvers detected a movement of $50 million in HXA tokens, the native utility token of the Herencia Artifex NFT project, linked to the KyberSwap exploiter.  The KyberSwap exploiter’s address got these tokens from an Ethereum address using the “transfer from function.” Decentralized application (DApp) users commonly use the “transfer from” function. It refers to a mechanism by which one party (sender) can transfer or send tokens from the balance of another party (owner) to a third-party address. However, improper use or vulnerabilities in implementing such functions can…

TON blockchain crippled by Bitcoin Ordinals-style token transactions

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The “most scalable blockchain ever” experienced a spike in activity, causing its network to experience delayed settlements. Transaction per second (TPS) speed on The Open Network (TON) fell as the blockchain buckled under increased usage triggered by a surge of TON20 transactions starting on Dec. 5. TON20 is an inscription standard inspired by the Bitcoin Ordinals protocols and launched by the Tonano team. According to developers, TON could not handle the load due to suboptimal hardware employed by some main network validators. TPS on TON crashed from 100,000 to under…

This BRC-20 Token Just Breached $1 Billion Market Cap

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The BRC-20 token ORDI, which is based on Bitcoin, surged by 181% today amid a wider cryptocurrency upswing and a recent rise in activity surrounding the Ordinals protocol. According to the most recent data, the token’s trade volume has increased by more than 900% during the last 30 days. The ORDI coin has experienced a downward trend since its entry onto the market. It began trading at around $10 in June of this year and gradually dropped back to slightly less than $3 by mid-September. Strong Performance: The BRC-20 Token…

Crypto is for criminals? JPMorgan has been fined $39B and has its own token

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JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime. “The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee on Dec. 5. “If I were the government, I’d close it down.” But crypto pundits quickly pointed out the seeming hypocrisy in Dimon’s statements, highlighting that JPMorgan is the second largest penalized bank, having paid…

Bitcoin Ordinals ORDI token tops $1B market cap after 850% monthly gain

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The Bitcoin Ordinals-based ORDI token has become the first BRC-20 token to top a $1 billion market capitalization after staging triple-digit monthly and weekly percentage gains. ORDI notched a new all-time high of over $65 on Dec. 5, surging more than 850% from around $6.80 on Nov. 5, per CoinGecko data. ORDI is up 216% in the last seven days. The sudden ORDI price uptick saw it become the first BRC-20 token to reach a $1 billion market cap on Dec. 5, it currently commands a value of $1.3 billion. ORDI…