GROK, a memecoin inspired by Elon Musk’s Grok xAI chatbot service, has experienced a significant drop in value after it was revealed that its developer has a history of involvement in crypto scams. Despite its name and logo resembling Musk’s company, the token is unrelated to it. On-chain investigator ZachXBT uncovered evidence that the developer […]
Raft, a decentralized finance platform, recently experienced a security breach despite undergoing multiple security audits. The breach resulted in a loss of $6.7 million worth of funds. The hacker exploited a smart contract glitch to mint 6.7 million R tokens by borrowing 6,000 Coinbase-wrapped staked Ether (cbETH) on Aave. The primary cause of the exploit […]
Aave, the decentralized lending protocol, has resolved security vulnerabilities and resumed its operations. The Community Guardian has unpaused Aave V3 markets, indicating that the issues have been resolved. A vulnerability affecting lending markets on Ethereum and other blockchains was discovered on November 4, prompting Aave DAO to temporarily disable the stable rate borrowing feature. Aave […]
The Australian Taxation Office (ATO) has provided guidance on the tax treatment of decentralized finance (DeFi) and wrapping crypto tokens. The ATO clarified that Australians will be taxed on capital gains when wrapping and unwrapping tokens. This is part of the ATO’s focus on crypto capital gains, which was outlined in May 2022. The transfer […]
Consumers in Switzerland can find advantageous consumer loans by using online comparison sites such as comparis.ch, moneyland.ch, and bonus.ch. These platforms provide a comparison of different loan offers from banks and other lenders, displaying information on interest rates, fees, and other conditions.It is important for individuals to carefully review the terms and conditions of the […]
An employee of FTX’s charity wing, Ross Rheingans-Yoo, is seeking payment of $275,000, the remaining amount of his claimed 2022 salary bonus. Rheingans-Yoo’s lawyers argue that only $375,000 of his $650,000 bonus was paid by FTX, with the remaining funds owed when the crypto exchange filed for bankruptcy in November 2022. FTX has objected to […]
Two separate incidents of theft targeting Binance clients have recently come to light. In the first incident, an attacker stole $27 million worth of Tether (USDT) from a victim connected to Binance. While some reports suggest that Binance’s own contracts were hacked, a Binance spokesperson stated that the user made a valid withdrawal from Binance, […]
The United States Financial Services Committee (FSC) has scheduled a hearing on November 15th to delve into the issue of illicit activities within the cryptocurrency ecosystem. The hearing, titled “Crypto crime in context: breaking down the illicit activity in digital assets,” will feature prominent figures from the crypto industry as witnesses. Among them are Bill […]
Crypto exchange Binance may have fallen victim to a hack, potentially losing $27 million worth of stablecoins. The hack is yet to be confirmed, but it is believed to have targeted one of Binance’s wallets, making it quite a significant achievement for the individual or group responsible. The transaction hash associated with the hack suggests […]
A new phishing scam has emerged in China, targeting cryptocurrency users. The scammers are using a fake Skype video app to deceive users and steal their funds. The scam takes advantage of China’s ban on international applications, as mainland users often search for these banned apps through third-party platforms. The hackers have created a fake […]
