Browsing:Market News

hackers managed to conceal their stolen funds worth $35 million using the cross-chain liquidity protocol THORChain.
10 months ago 2 mins read

How Atomic Wallet Hackers Leveraged THORChain to Hide $35 Million Theft

In a recent heist that targeted the popular crypto wallet Atomic Wallet, hackers managed to conceal their stolen funds worth $35 million using the cross-chain liquidity protocol THORChain. Blockchain sleuth MistTrack has shed light on the incident, revealing that approximately $870,000 worth of ether (ETH) was transferred to THORChain before being exchanged for bitcoin (BTC). Additionally, some of the stolen ether was routed to multiple Bitcoin addresses via the Swft blockchain. Notably, the hackers also attempted to move a portion of the stolen funds to the crypto exchange Garantex, which has previously faced sanctions from the U.S. Treasury’s Office of

Mastercard has filed a trademark application for a range of tools designed to simplify crypto transactions.
10 months ago 2 mins read

Mastercard Files Trademark Application for Crypto and Blockchain Tools

Mastercard, one of the world’s leading payments companies, has been making significant moves in the world of cryptocurrencies and blockchain technology. In a notable development, the company has filed a trademark application for a range of tools designed to simplify crypto transactions. This article explores Mastercard’s strategic initiatives, including their plans to create a network connecting virtual asset service providers (VASPs) and their commitment to staying ahead in the evolving cryptocurrency landscape. Reports have confirmed that Mastercard has filed a trademark application to develop tools related to cryptocurrencies and blockchain technology. Patent attorney Mike Kondoudis has revealed that the company

Binance has announced the integration of the Lightning network on the Bitcoin network
10 months ago 2 mins read

Binance Implements Bitcoin Lightning Nodes for Effortless Deposits and Withdrawals

Leading cryptocurrency exchange Binance has announced the integration of the Lightning network on the Bitcoin network, paving the way for Lightning-based Bitcoin deposit and withdrawal services. The move is aimed at enhancing transaction speeds and alleviating network congestion for Binance users. The Lightning network is a second-layer solution for the Bitcoin blockchain that addresses the scalability challenges faced by Bitcoin by establishing payment channels that facilitate off-chain transactions between users. By conducting transactions off-chain, the Lightning network significantly reduces congestion on the main blockchain, resulting in faster transaction speeds and lower fees. With the integration of the Lightning Network, Binance

The UK Parliament has passed the Financial Services and Markets Bill
10 months ago 2 mins read

UK House of Lords Passes Bill Recognizing Crypto as a Regulated Activity

The UK Parliament has passed the Financial Services and Markets Bill, a piece of legislation that will regulate crypto-assets and their providers. The bill, which was first introduced in July 2022, was passed by the House of Lords on June 16, 2023. It now moves to the Queen for royal assent, which is expected to take place shortly. The Financial Services and Markets Bill is a significant development for the cryptocurrency industry. It is the first time that the UK government has taken steps to regulate crypto-assets. The bill will require firms that offer crypto-asset services to be authorized by

do-kwon founder of Terra Luna
10 months ago 1 min read

Do Kwon Sentenced to 4 Months in Jail for Document Forgery

Do Kwon, the founder of Terraform Labs, has been sentenced to four months in jail by a Montenegro court for his involvement in a document forgery case. The verdict, announced on Monday by a Basic Court in Podgorica, also confirmed the confiscation of several falsified passports and identity cards. Details of the Case Kwon and Han were detained in Montenegro on charges of possessing forged documents. The court’s verdict included the seizure of two Costa Rican passports, two Belgian passports, and two identity cards linked to the accused individuals. The four-month sentence takes into account the time already spent in

Matter Labs' zkSync Era recently reached a major milestone
10 months ago 2 mins read

zkSync Era Surpasses $500 Million in TVL

Matter Labs’ zkSync Era, a zero-knowledge (ZK) rollup solution designed to enhance Ethereum’s scalability, continues to attract significant capital. The platform recently reached a major milestone, with its total value locked (TVL) surpassing $500 million. This achievement reflects a remarkable 12% increase in just one week, according to data from L2Beat, a leading source of information on layer 2 scaling solutions. As zkSync Era gains momentum, it solidifies its position as the third-largest rollup platform, trailing only Arbitrum and Optimism in terms of total value locked. Rapid Growth of zkSync Era With Ethereum Virtual Machine (EVM) compatibility and native account

JP Morgan has taken a firm stance in favor of the crypto industry by calling for dedicated regulation from the US government.
10 months ago 2 mins read

JP Morgan Joins Call for Crypto Regulation Amidst Ongoing SEC Lawsuits

JP Morgan, one of the largest banks in the United States with a market capitalization of $413 billion, has taken a firm stance in favor of the crypto industry by calling for dedicated regulation from the US government. The recent legal actions taken by the Securities and Exchange Commission (SEC) against cryptocurrency exchanges have raised concerns for JP Morgan, as they believe it could lead to a potential flight of crypto capital to other markets outside the US. JP Morgan emphasizes the complexities in determining which cryptocurrencies should be classified as securities, a term frequently used in SEC lawsuits. This

Binance CEO Changpeng Zhao expressed his happiness and relief as the prolonged dispute with the US SEC came to a successful resolution.
10 months ago 1 min read

Binance CEO CZ Pushes Back Against SEC’s Emergency Relief Request, Calls it Unnecessary

Binance CEO Changpeng “CZ” Zhao expressed his happiness and relief as the prolonged dispute with the United States Securities and Exchange Commission (SEC) came to a successful resolution. The SEC’s scrutiny had created a period of uncertainty for the company, making the resolution a welcome development. With regulatory uncertainties starting to fade, CZ can now shift his focus to Binance’s future. In a tweet, the seasoned crypto entrepreneur emphasized that the SEC’s emergency relief request was unnecessary, stating that the mutually agreed resolution would allow Binance to progress without hindrance. In a significant turn of events, Judge Amy Berman Jackson

CoinEx Crypto Exchange Banned in New York and $1.7M Seized by Authorities
11 months ago 2 mins read

Crypto Exchange CoinEx Faces Ban in New York, Over $1.7M Seized

The state of New York, led by Attorney General Letitia James, continues its aggressive stance on crypto regulation with the recent ban of CoinEx, a global crypto exchange. The exchange, which launched in 2017, has been accused of operating illegally in the state and failing to register as a securities and commodities broker-dealer. As a result, more than $1.7 million has been recovered from CoinEx, with refunds to be issued to affected investors. New York Attorney General Letitia James has taken decisive action against CoinEx, accusing the exchange of falsely representing itself as a legitimate crypto trading platform. The ban

A hacker has been ordered to repay £100K after stealing unreleased music from Ed Sheeran and Lil Uzi Vert
11 months ago 2 mins read

UK Hacker Ordered to Pay £100k After Stealing Unreleased Ed Sheeran Music And Selling Them For Bitcoin

A computer hacker from Ipswich, England, known as Adrian Kwiatkowski but operating under the alias ‘Spirdark,’ has been compelled to reimburse £100,000 after orchestrating a lucrative scheme involving the theft and sale of unreleased music from globally recognized recording artists. His illicit activities, which involved trading the stolen tracks for cryptocurrency on the dark web, came to an end when authorities apprehended him. In October of last year, Adrian Kwiatkowski, a resident of Ipswich, England, faced an 18-month prison sentence for his involvement in stealing unreleased music from a multitude of high-profile artists, including the likes of Ed Sheeran and

Lamma crypto exchange has launched its own line of Visa crypto debit cards.
11 months ago 1 min read

Lamma Exchange Launches Visa Cards with Cashback in Crypto

Lamma crypto exchange has launched its own line of Visa crypto debit cards. The cards allow users to spend their cryptocurrency anywhere Visa is accepted. Lamma’s cards offer a variety of exclusive benefits, including Bitcoin cashback, flexible plans, and a commitment to security and compliance. Features and Benefits Lamma’s Visa crypto debit cards offer a variety of features and benefits, including: How it works To use Lamma’s Visa crypto debit cards, users first need to create an account and deposit cryptocurrency into their account. Once their account is funded, they can create a virtual or physical card. Virtual cards can

President of Brazil Signs Legislation to Bring Crypto Firms Under Central Bank's Authority
11 months ago 1 min read

Brazil Takes Steps Towards Crypto Regulation: President Signs Law Granting Central Bank Oversight

Brazilian President Luiz Inácio Lula da Silva has signed legislation providing guidelines for the country’s central bank and securities regulator to regulate the crypto industry. The new law aims to establish a legal framework for cryptocurrencies in Brazil and assign specific roles to regulatory authorities. The recently signed government decree, No. 11.563, outlines the rules and responsibilities assigned to the Central Bank of Brazil (BCB) and the Comissão de Valores Mobiliários (CVM) regarding cryptocurrencies. Under this law, the BCB is authorized to regulate and supervise virtual asset service providers (VASPs), ensuring that they operate in compliance with established guidelines. Meanwhile,

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