Author: Mahamat Ashraf

Article written by Mahamat Ashraf

This play-and-own mobile gaming platform GAMEE loses over $14 million to hackers

January 24, 2024 1 min read

The play-and-own mobile gaming platform GAMEE suffered a security breach in its GMEE token contracts on the Polygon network. The exploit resulted in the theft of 600 million GMEE tokens, worth around $14 million. As the crypto community awaits further developments, GAMEE has provided preliminary insights into the incident and outlined its plans for dealing with the fallout. On January 22, the X (formerly Twitter) account of GAMEE Token advised

Over 580 million people now own crypto globally

January 23, 2024 1 min read

According to a recent report from Crypto.com, global crypto ownership increased by 34% in 2023, rising from 432 million to an impressive 580 million. This surge in crypto adoption coincides with economic challenges, geopolitical tensions, and the pandemic’s ongoing effects. Bitcoin and Ethereum led the charge in the crypto adoption race, with growth rates of 33% and 39%, respectively. Bitcoin now controls 51% of the global market, with Ethereum accounting

Terraform Labs, the company known for the failed TerraUSD stablecoin declares bankruptcy

January 22, 2024 1 min read

Terraform Labs Pte. filed for Chapter 11 bankruptcy in Delaware on January 21, according to court documents. The company, best known for its involvement in the ill-fated TerraUSD stablecoin, has revealed financial details, including assets and liabilities valued between $100 million and $500 million. The collapse of TerraUSD and Terra’s LUNA token in May 2022 resulted in significant losses for investors, ushering in a difficult period in the crypto world.

Manta Network Faces DDoS Attack Shortly After Token Issuance, $MANTA Prices Surge

January 19, 2024 1 min read

Manta Network, a well-known layer-2 blockchain, experienced a distributed denial-of-service (DDoS) attack shortly after the issuance of its governance token, $MANTA. Despite the disruption, $MANTA prices rose by 25%, bringing Manta’s market capitalization above $550 million. The DDoS attack on Manta Network occurred on Thursday, resulting in network delays and slower withdrawals. Manta developers acknowledged the incident in an X post, explaining the network impact and assuring users that they

Ethereum Developer Praises EIP-1559 as “The Great Equalizer”

January 18, 2024 2 mins read

Péter Szilágyi, an Ethereum (ETH) developer, recently praised Ethereum Improvement Proposal 1559 (EIP-1559), describing it as “the great equalizer.” In a post published on January 16, Szilágyi praised the protocol’s ability to level the playing field between validators and regular Ethereum network users. EIP-1559, implemented to improve Ethereum’s gas fee mechanism, introduced the concept of a “base fee” that users could bid for transactions. The base fee is then burned

Cathie Wood criticizes Vanguard’s rejection of Bitcoin ETFs

January 15, 2024 1 min read

The Securities and Exchange Commission’s (SEC) approval of Bitcoin ETFs, a recent twist in the crypto landscape, marked a significant milestone for the digital asset realm. However, Vanguard, the investment giant, has chosen not to include Bitcoin ETFs in its offerings, drawing criticism from prominent figures such as Cathie Wood, CEO of Ark Invest. Cathie Wood publicly expressed her dissatisfaction with Vanguard’s decision, calling it “terrible.” She expressed concern that

Robinhood to List the 11 Approved Bitcoin ETFs

January 11, 2024 1 min read

Robinhood is preparing to list 11 new Bitcoin spot ETFs that have been approved by the US Securities and Exchange Commission (SEC). Tenev sees these approved financial instruments as a game changer in managing the investment risks associated with digital assets. Notably, this is a milestone for the first-ever approved Bitcoin spot ETFs in the US. Robinhood is committed to providing educational resources on Bitcoin, ETFs, and effective risk management

Apple App Store in India has blocked Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC crypto exchange apps

January 10, 2024 2 mins read

Apple’s App Store in India recently restricted access to crypto exchange apps such as Binance, KuCoin, Bitget, Huobi, OKX, Gate.io, and MEXC. This decision comes just weeks after the Indian government issued a noncompliance notice to nearly a dozen offshore cryptocurrency exchanges. The Financial Intelligence Unit (FIU) of the Indian Ministry of Finance issued a notice to several exchanges, including Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex, and

Nigeria’s CBN to launch cNGN stablecoin on February 27

January 8, 2024 1 min read

The Central Bank of Nigeria (CBN) is preparing to launch its naira stablecoin, cNGN, on February 27, 2024, in a significant step toward embracing blockchain technology. This ground-breaking initiative is part of a pilot program within the CBN’s regulatory sandbox, and it represents a significant step forward in improving global transactions. The Africa Stablecoin Consortium, comprised of Nigerian banks and fintech firms, was instrumental in obtaining approval for the cNGN

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

January 5, 2024 1 min read

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

January 2, 2024 1 min read

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for

Thunder Terminal was the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL

December 28, 2023 1 min read

Thunder Terminal, an on-chain trading platform, was recently the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL. Despite the breach, Thunder Terminal responded quickly, assuring users that all funds are secure and taking immediate steps to mitigate the impact. The hackers took advantage of a vulnerability by gaining access via a MongoDB URL, allowing them to execute fraudulent withdrawal requests and steal large