Hong Kong is making progress in allowing individual investors to trade cryptocurrencies, but retail stablecoin trading is not yet allowed. Christian Hui, the Secretary for Financial Services and the Treasury, recently stated that Hong Kong has not adopted regulations for stablecoins like Tether USDT and USD Coin USDC, meaning retail investors are not allowed to […]
The crypto community has rallied behind $REPO, a cryptocurrency that has demonstrated unwavering commitment from its developers. This trust has been rewarded with a valuation of $2 million within hours of its launch. Rumors circulate about the team’s extensive experience and affiliations with some of the juggernauts in both the big tech and Web3 sectors. […]
Yedidia was called to testify about a bug in FTX’s accounting software that caused it to overstate the amount of money Alameda Research owed exchange customers by $8 billion. This was a big problem, as customers had wired their money to the trading firm and then got credited in their FTX account. The arrangement was […]
Crypto money laundering is on the rise, with a staggering $7 billion in suspicious or high-risk funds already laundered through cross-chain and cross-asset platforms. The use of decentralized exchanges (DEXs), cross-chain bridges, and coin swap services has become increasingly prevalent, with the Lazarus Group being the third-largest contributor to the burgeoning cross-chain crime landscape.Data presented […]
Stars Arena, a decentralized social media platform based on Avalanche, recently patched an exploit that saw attackers escape with $2,000. In response, the Stars Arena team dismissed what it called “coordinated FUD” and declared that they were “at war” with malicious actors.The exploit was caused by a vulnerability in the platform’s price function, which allowed […]
A hacker has managed to steal 234 Ether (ETH) worth approximately $385,000 in less than 24 hours by manipulating the SIM cards of four Friend.Tech users. The victims reported that the scammer was able to switch their SIM cards to an iPhone SE at the Apple store. Manifold Trading has warned that up to $20 […]
Julie Schoening, former chief risk officer at FTX-owned LedgerX, was terminated in August 2022 after raising concerns about special privileges granted to FTX’s affiliated trading firm Alameda Research. In May 2022, Schoening’s team discovered code showing that Alameda received special treatment, such as being able to have a negative balance as high as $65 billion. […]
Alameda Research, the parent company of FTX, has been accused of using customer funds without their knowledge. According to The Wall Street Journal, some U.S.-based employees of FTX reportedly knew that the exchange had a backdoor that allowed Alameda to withdraw customers’ funds. The employees discovered the backdoor while examining the code used by FTX […]
Amid the ongoing trial of FTX co-founder and former CEO Sam Bankman-Fried, a report has surfaced alleging that some of the company’s US-based employees found a hidden backdoor allegedly used by Alameda Research to siphon billions worth of customer funds from FTX, six months before the crypto exchange’s fall.The employees reported the issue to the […]
The Hong Kong Securities and Futures Commission (SFC) has teamed up with the Hong Kong Police Force to form a working group to investigate and monitor crypto exchange-related crimes. This comes after the Dubai-based JPEX exchange, a major player in the Hong Kong crypto industry, was involved in a scandal. The SFC revealed this in […]
