During a recent crisis involving the real-estate-backed stablecoin Real USD (USDR), a trader suffered a significant loss after swapping 131,350 USDR for 0 USD Coin (USDC). The swap took place on the BNB Chain through decentralized exchange OpenOcean, at a time when USDR had depegged from its par value by nearly 50% due to a […]
In the ongoing trial of Sam Bankman-Fried, the creator of FTX, shocking revelations have emerged from the testimony of Caroline Ellison, his former partner and ex-head of Alameda Research. Ellison’s testimony has uncovered a potential conspiracy to manipulate the price of Bitcoin, which has significant implications for the cryptocurrency market.According to Ellison, she presented a […]
Bitcoin’s failure to reach $100,000 during the 2021 bull market may have been due to market manipulation by defunct exchange FTX, according to analysis. Testimony in the trial of former FTX CEO Sam Bankman-Fried revealed that FTX executives sold BTC using customer funds, potentially adversely affecting the entire bull run. The scale of these operations […]
A former engineer at Alameda Research, the sister hedge fund of FTX, has alleged that the firm suffered losses of over $190 million due to preventable scams. Aditya Baradwaj, the whistleblower, highlighted the frequent security incidents resulting from the company’s fast-paced operations. Baradwaj documented these allegations in a post titled “The Hacks” on the platform […]
Anonymous hackers have been moving stolen assets from the now-defunct exchange FTX, coinciding with the ongoing trial of FTX founder Sam Bankman-Fried. Blockchain analytics firm Elliptic reported that 72,500 Ether (ETH) worth $1,544 has been awakened for the first time since the exchange was hacked in November 2022. The thief has converted $120 million worth […]
Former engineer Aditya Baradwaj has made shocking claims about security lapses at Alameda Research, alleging that the company lost $190 million due to avoidable mistakes and lax security practices. One notable incident involved an Alameda trader who accidentally clicked on a malicious link while validating a decentralized finance transaction, resulting in a loss of over […]
Evidence presented in court during the ongoing criminal trial against Sam “SBF” Bankman-Fried, former CEO of FTX exchange, has revealed his belief that Binance leaked an Alameda balance sheet to the media in 2022. The evidence includes a memo created by SBF on November 6, 2022, which outlined potential investors and parties to reach out […]
Kraken founder accuses venture capital firms, including Sequoia, of enabling fraud at FTX, a bankrupt company. The founder claims that these “incompetent VCs” invested in FTX despite the obvious signs of fraud. This revelation raises questions about the due diligence conducted by these firms before investing. The accusations highlight the need for stricter scrutiny and […]
TangibleDAO, the creator of the real estate-backed USDR stablecoin, has announced that it will discontinue the project after it depegged on October 11. The decision was made due to the numerous attack vectors in the stablecoin’s design and the ease with which measures to protect users could be manipulated. The team plans to deprecate the […]
Caroline Ellison, the former CEO of Alameda Research, testified against her ex-boyfriend and former boss, Sam Bankman-Fried, in a high-profile trial. Ellison tearfully recounted the downfall of her hedge fund and the FTX exchange, expressing relief that the truth about their fraudulent activities had come to light. She described feeling immense guilt for the employees […]
