SafeMoon, a once-thriving cryptocurrency protocol, has filed for Chapter 7 bankruptcy amidst allegations of fraud and mismanagement. The founders of SafeMoon, Kyle Nagy, Thomas Smith, and Braden Karony, are facing a $200 million SEC lawsuit for securities fraud.The bankruptcy filing, officially submitted on December 14th, is a form of liquidation bankruptcy. SafeMoon’s Chief Restructuring Officer […]
A recent exploit in the Ledger Library, which is integrated into many cryptocurrency projects, has caused widespread concern and market instability. This event highlights the pervasive risks in the digital asset landscape, particularly in the emerging field of decentralized finance (DeFi).The core of the crisis lies in a critical vulnerability in the “LedgerHQ” library, a […]
Tether, the largest issuer of stablecoin USDT, has implemented a new policy to freeze crypto wallets associated with individuals and entities sanctioned by the US Treasury’s Office of Foreign Asset Control (OFAC). This move aims to strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem.An analysis of the Ethereum blockchain reveals […]
In a recent security breach, unknown attackers targeted Ledger, a popular hardware wallet provider, with the aim of exploiting their LedgerConnect kit. The attack involved injecting a “wallet-draining payload” into the NPM package, which allowed the attackers to hijack the front end of multiple apps and steal hundreds of thousands of dollars worth of assets. […]
Lolli, a popular Bitcoin rewards application, has successfully raised $8 million in a Series B funding round, according to a report by TechCrunch. The investment, led by BITKRAFT Ventures, will allow Lolli to expand its rewards program to enterprise partners such as exchanges, neobanks, banks, payment companies, and browsers.Since its launch in 2018, Lolli has […]
The token of decentralized finance protocol SafeMoon (SFM) experienced a significant drop of 31% in just five hours following the company’s bankruptcy filing. SafeMoon filed for Chapter 7 bankruptcy protection, with the voluntary petition being submitted to the United States Bankruptcy Court in the District of Utah. The firm’s chief restructuring officer allegedly wrote a […]
A security engineer named Shakeeb Ahmed has pleaded guilty to carrying out two DeFi hacks on the Solana blockchain, resulting in the theft of over $12 million. The first attack occurred in July 2022, when Ahmed targeted an unnamed decentralized exchange and generated $9 million through inflated fees. He agreed to return all but $1.5 […]
The hype around ‘Bitcoin NFT’ has reached the prestigious auction house Sotheby’s, as a Super Mario-style mushroom character sold for a staggering $200,000. This marked the first sale of the historic auction house’s “NFTs on Bitcoin” collection, which featured three pixelated images of mushroom-themed artwork. The collection attracted approximately $450,000, surpassing the highest estimates by […]
A recent security issue in the Ledger Connect Kit library has put users of Ledger, a prominent hardware wallet company in the cryptocurrency industry, at risk. The malicious version of the software allowed attackers to redirect users’ funds to their own wallet through a modified interface. This means that users could unknowingly send their cryptocurrency […]
A security vulnerability in Ledger’s Connector library has led to a major security breach in the crypto community. Attackers were able to replace a genuine version of the library with a malicious file, resulting in the compromise of several decentralized applications (dApps) and the theft of over $500,000 from multiple wallets.The incident occurred after a […]
