Author: Karikari Daniel

Article written by Karikari Daniel

US authorities issue subpoenas to hedge funds as part of Binance investigation

January 9, 2023 1 min read

US federal prosecutors have reportedly issued subpoenas to several hedge funds as part of an ongoing investigation into potential money laundering violations by Binance Global Inc., according to the Washington Post. The US attorney’s office for the Western District of Washington in Seattle is seeking records of the subpoenaed firms’ communications with Binance, according to sources familiar with the matter. It is not yet clear if the subpoenas will lead

Immunefi Researcher Saves $200 Million from Being Stolen on Three Polkadot Parachains

January 6, 2023 1 min read

A security researcher known as pwning.eth discovered and reported a software vulnerability that could have been exploited to steal up to $200 million from three Ethereum-compatible parachains on the Polkadot network. The vulnerability was found in a program called Frontier that is used for “wrapping” native tokens on the Moonbeam, Astar Network, and Acala parachains. Wrapping is the process of converting native crypto assets into tokens that can be more

Evmos introduces automatic conversion feature for Ethereum and Cosmos token swaps

January 6, 2023 1 min read

Evmos, a blockchain in the Cosmos ecosystem with native support for Ethereum applications and tokens, has introduced automated conversions for token swaps between the Cosmos and Ethereum ecosystems in its latest version 10.0 upgrade. The upgrade allows users to send native Cosmos tokens to Evmos, which will automatically be converted to Ethereum-compatible tokens for use on Evmos or other Ethereum-compatible blockchains. Similarly, users can transfer Ethereum-based tokens to other Cosmos

Sam Bankman-Fried’s Alameda Empire faced challenges before downfall

January 5, 2023 1 min read

A report from the Wall Street Journal suggests that financial crypto firm Alameda Research, owned by Sam Bankman-Fried, experienced problems years before the collapse of the FTX exchange. Alameda allegedly made significant profits through arbitrage in Japan, but saw these profits decline as the price gap closed in 2018. The firm’s trading algorithm also reportedly made incorrect predictions on price moves, leading to losses. Alameda also reportedly lost two-thirds of

Former FTX attorney informed US prosecutors of SBF fund abuse: Reuters

January 5, 2023 1 min read

Former top lawyer for collapsed cryptocurrency exchange FTX, Daniel Friedberg, shared information with US prosecutors about the alleged abuse of customer funds by FTX founder Sam Bankman-Fried. Friedberg joined a meeting on 22 November with officials from the Federal Bureau of Investigation, the Department of Justice and the Securities and Exchange Commission at the US Attorney’s office in the Southern District of New York, according to a source close to

NFT influencer loses over $300,000 worth of CryptoPunks in cyberattack

January 5, 2023 1 min read

NFT influencer CryptoNovo announced on January 4 that he had fallen victim to a cyberattack, resulting in the loss of two CryptoPunks and other NFTs including Meebits, CloneX, Mutant Ape Yacht Club, and Bored Ape Yacht Club. The two CryptoPunks were quickly sold by the attacker, one for 70 Ether (worth $88,434 at the time of publication) and the other for 199 ETH (worth $251,404), resulting in losses of over

SideKick Finance launches decentralized NFT crowdfunding platform

January 4, 2023 1 min read

Decentralized finance (DeFi) platform SideKick Finance has launched JumpStart, a decentralized non-fungible token (NFT) crowdfunding platform. JumpStart is deployed across multiple Ethereum Virtual Machine networks and aims to provide a scalable and interoperable crowdfunding platform for use cases including gaming, music, art and charity. The platform uses NFTs and smart contracts to allow creators to crowdfund projects securely, transparently and decentralized, while also offering contributors the ability to verify and

FTX’s Bankman-Fried pleads not guilty to charges

January 4, 2023 1 min read

Sam Bankman-Fried, the founder of the now-bankrupt crypto exchange FTX, has pleaded not guilty to criminal charges of wire fraud and conspiracy. The charges stem from allegations that Bankman-Fried used customer funds from FTX to cover loans taken out by Alameda Research, an affiliated crypto hedge fund, and to make investments in other companies and donate to political campaigns. Bankman-Fried has maintained his innocence and says he was unaware that

Ukrainian pharmacies accept cryptocurrencies through Binance Pay

January 3, 2023 1 min read

One of the largest pharmacy chains in Ukraine, ANC Pharmacy, has teamed up with Binance Ukraine to allow customers to make cryptocurrency payments at their stores through the contactless Binance Pay service. The payment feature will initially be available at ANC pharmacies in Kyiv and at stores including Kopiyka and Shara. In order to pay with cryptocurrency at ANC pharmacies, customers must first download the Binance app and then visit

Binance plans to enter South Korean market through acquisition of Gopax

January 3, 2023 1 min read

Binance has concluded its investigation into the purchase of Gopax, a South Korean cryptocurrency exchange, and is now back in the country. The acquisition, first revealed in December 2021, experienced some setbacks due to final negotiations. Changpeng Zhao, the CEO of Binance, has expressed his interest in returning to the South Korean market, a major hub for cryptocurrency economies. Binance is currently in the process of obtaining a majority share

DeFi Hacks Result in Loss of $1.5 Billion in 2022’s Top 5 Cryptocurrency Attacks

January 1, 2023 1 min read

The cryptocurrency industry faced significant difficulties in 2022, with various companies experiencing financial difficulties and even bankruptcy. In addition, over $3 billion was reportedly stolen from crypto projects this year, according to Forbes. These setbacks have caused turmoil in the industry and raised concerns about its stability. The report indicates that more than 125 hacks occurred, with the top five (all involving decentralized finance (DeFi) protocols) accounting for $1.48 billion

Philippines SEC Warns Against Unlicensed Crypto Exchanges

December 31, 2022 1 min read

The Securities and Exchange Commission (SEC) of the Philippines has warned against using unlicensed cryptocurrency exchanges. In a statement, the SEC recommended that the public avoid interacting with these exchanges, which are believed to be operating in the Philippines but are not registered or regulated. The warning follows the collapse of the crypto exchange FTX, which left hundreds of thousands or even millions of unsecured creditors with little or no