Galxe, a cryptocurrency platform, has announced that it will be compensating users who lost funds in a recent hack by 110%. The company expressed its gratitude to those who have supported them during this difficult time. The affected users will have their funds automatically returned to their wallet addresses on October 16, unless they request […]
Tensions ran high in court as lawyers representing BlockFi and 3AC clashed over the handling of the legal proceedings. BlockFi’s lawyer accused 3AC of prolonging the case and accumulating a hefty $16 million in legal fees. In response, 3AC’s lawyer deemed these comments inappropriate and reckless. He reminded the court that the founders of 3AC […]
3Commas, a popular crypto trading bot, recently experienced a security incident where unauthorized trades were made on users’ accounts. The incident was limited in scope, but it highlights the vulnerability of the tool to bad actors. The trades occurred shortly after affected users had reset their passwords, indicating a data breach. However, the users’ API […]
Ethereum gas fees, a major obstacle to mainstream adoption, have reached all-time lows recently. The average gas price dropped to 8.8 gwei, surpassing the previous record of 8.9 gwei. This decline can be attributed to the increased usage of layer 2 scaling solutions like Optimism and Arbitrum, which process transactions off-chain and reduce congestion on […]
Friend.tech has introduced a two-factor authentication (2FA) password feature in response to a series of SIM-swap attacks targeting its users. These attacks involve hackers gaining control of users’ phone numbers and unauthorized access to their accounts, resulting in the loss of valuable digital assets. The new 2FA password provides an additional layer of protection, particularly […]
Bankrupt crypto firm Alameda Research is believed to have minted around $40 billion of Tether’s USDT stablecoin, accounting for approximately 47% of its circulating supply. This analysis was conducted by Coinbase director Conor Grogan, who also noted that the amount of USDT minted exceeded Alameda’s assets under management at the peak of the crypto market. […]
BitVM, a computing paradigm introduced by Robin Linus of ZeroSync, aims to bring smart contract capabilities to the Bitcoin blockchain. The whitepaper, released on October 9, has sparked a heated debate within the crypto community. BitVM contracts are similar to optimistic rollups on Ethereum, allowing for the verification of computations without changing the network’s consensus […]
Street artist Nelson Saiers, also known as the “Warhol of Wall Street,” has unveiled his latest guerilla installation titled “Rug Pull” in front of the United States Securities and Exchange Commission (SEC) in downtown Manhattan’s Financial District. The installation features vibrant doormats that have been spray-painted with the word “pull,” symbolizing the victims of rug […]
Canadian Bitcoin mining company Hut 8 has announced that it mined 111 Bitcoin in September 2023, bringing its total self-mined BTC reserves to 9,366 Bitcoin. This represents an 8% increase from the previous month, although it is still significantly lower than the 147 BTC mined in May 2023. Despite the decline in mining volumes, Hut […]
Ripple, the cryptocurrency company, has been returning a significant portion of its unlocked XRP tokens to its escrow system after each monthly release. This move is aimed at supporting the price of XRP. Bill Morgan, a pro-XRP legal expert, explained that if Ripple were to sell all the tokens, it could negatively impact the token’s […]
