Author: Karikari Daniel

Article written by Karikari Daniel

Hacker Takes Advantage of Wormhole to Move $155M in Largest Crypto Heist in Recent Months

January 24, 2023 1 min read

The hacker behind the $321 million Wormhole bridge attack has shifted a large chunk of stolen funds, with transaction data showing that $155 million worth of Ether (ETH) was transferred to a decentralized exchange (DEX) on January 23. The Wormhole hack, which took place on Feb 2, 2022, was the third largest crypto hack of the year and resulted in the loss of 120,000 Wrapped ETH (wETH) worth around $321

Genesis Capital Courtroom Conflict Set to Begin

January 23, 2023 1 min read

On January 23, the first hearing in Genesis Capital’s bankruptcy case will take place in the United States Bankruptcy Court for the Southern District of New York. At the hearing, Judge Sean H. Lane will decide whether to accept the relief requested under Chapter 11 bankruptcy. The companies have requested a joint administration of the case and the appointment of a committee of unsecured creditors, which will have the right

Scammers Use Hacked Twitter Account of American TV Sports Channel to Push Ripple Scam

January 23, 2023 1 min read

The official Twitter account of GOL TV, an American sports channel, has been hacked and used to promote an XRP scam. XRP scams have become a common problem on social media, with scammers impersonating Ripple-affiliated entities and offering false investment opportunities. These scams often involve scammers posing as Ripple CEO Brad Garlinghouse and offering tempting investment opportunities that turn out to be too good to be true. Victims who fall

Polygon Collaborates with BitGo Following Controversial Hardfork Upgrade

January 20, 2023 1 min read

Polygon, a blockchain network, has partnered with BitGo, a crypto custody provider, to allow ERC-20 MATIC holders to stake their coins and earn rewards. This partnership will allow MATIC holders to securely store their coins and earn rewards for holding them. Chen Fang, the Chief Operating Officer at BitGo, said in a statement, “By offering more features for MATIC, we’re providing investors with a safer way to custody their assets

Stargate Finance partners with Metis for Interoperable Cross-Chain Data

January 19, 2023 1 min read

Stargate Finance, an open-source protocol for interoperable cross-chain data, has announced that it will integrate with Metis, a layer-2 scaling solution for cross-layer messaging. This integration will allow Stargate Finance users to benefit from Metis’s faster and cheaper layer-2 solutions for cross-chain messaging, which is a critical component of the Stargate Finance ecosystem. According to the co-founder of Stargate Finance, this integration will help to “address the scalability, cost, and

Hong Kong Crypto Layoffs: Singapore’s Amber Group Downsizes Workforce

January 19, 2023 1 min read

Singapore-based digital asset management firm Amber Group has reportedly cut its Hong Kong staff by half, from 80 to 40 people. According to a report by the South China Morning Post, Amber has cut its compliance workforce in Hong Kong to just five people from 20, and made its entire auditing team redundant. The report also states that payments to many of the company’s third-party vendors have been delayed, in

Digital Currency Group puts dividends on hold to preserve cash reserves

January 18, 2023 1 min read

Digital Currency Group (DCG), a venture capital firm, has announced that it will be halting its quarterly dividend payments in an effort to preserve liquidity. This decision is in light of the financial troubles faced by its subsidiary, crypto broker Genesis Global Trading. Genesis currently owes creditors over $3 billion, and DCG is considering selling some of its assets to mitigate these issues. Customers of Genesis have been unable to

Monex Group Among Potential Buyers for FTX Japan: Bloomberg

January 17, 2023 1 min read

Monex Group, a Tokyo-based online brokerage company, is interested in joining the bidding for the Japan subsidiary of collapsed cryptocurrency exchange FTX, according to a report by Bloomberg. Monex Group’s CEO, Oki Matsumoto, stated that “Generally speaking, we naturally are interested.” He also noted that it would be a “very good thing” for Monex to reduce the number of crypto exchanges it competes with. The U.S. Bankruptcy Court in Delaware

China’s Digital Currency Makes its Debut in Securities Trading

January 17, 2023 1 min read

Soochow Securities is the first financial institution to use the central bank digital currency (CBDC) in the securities market. Through the firm’s mobile app, investors can now purchase wealth management products with the digital yuan. This marks an important milestone in the adoption of the e-CNY and its use in the financial sector. The People’s Bank of China (PBOC) has been piloting the e-CNY in several cities since 2020. Last

Hong Kong to Release Official List of Cryptocurrencies for Public Trading

January 16, 2023 1 min read

Regulators in Hong Kong are taking steps to ensure the safety of retail investors in the cryptocurrency market. The Securities and Futures Commission (SFC) is creating a list of approved crypto assets for non-professional investors to trade in. SFC’s CEO, Julia Leung Fung-yee, stated that the whitelisted crypto tokens will be highly liquid and deemed safe enough for retail traders. The list will only include major virtual assets, as the

International Crypto Scammers Busted by Authorities

January 13, 2023 1 min read

In a coordinated effort, European law enforcement agencies have successfully taken down a cross-border cryptocurrency fraud network that spanned across Serbia, Germany, Cyprus, and Bulgaria. The network, which was using call centers to defraud international victims out of tens of millions of euros, was uncovered during an online scam investigation that was launched in 2021. The European Union Agency for Criminal Justice Cooperation and Europol arrested 14 people in Serbia

LBank Exchange Shares Bullish Thesis for 2023

January 13, 2023 2 mins read

INTERNET CITY, Dubai, 12th January, 2023, Chainwire LBank Co-Founder Johnason Chan has shared a bullish thesis for 2023, tipping the crypto industry to reach new milestones this year. Chan predicts a resurgence in the NFT market, further growth of Web3 through layer 2 solutions and the convergence of TradFi and DeFi. “Web3 will be a big opportunity for the next wave of blockchain applications, but more solid blockchain platforms are