Browsing:Crypto News

Base network achieved an unprecedented milestone
4 days ago 1 min read

Coinbase’s Base Network Hits Milestone: 1.88 Million Daily Transactions

Coinbase’s Layer 2 network, Base, is rewriting the rules of crypto with its remarkable achievements. On September 14th, the network achieved an unprecedented milestone, processing a staggering 1.88 million daily transactions. This impressive feat propels Base ahead of well-established competitors like Arbitrum and Optimism. Base’s rapid rise to prominence, which began less than two months ago, can be attributed to several factors, including Coinbase’s significant influence and the growing enthusiasm for decentralized applications (dApps) such as Friend.Tech. While the record-breaking transaction count on September 14th grabs headlines, other key metrics underscore the network’s robust health. The base boasts an average

FTX Readies Itself to Return Online After Security Incident
5 days ago 1 min read

FTX Gets Ready to Resume Operations After Security Breach

Cryptocurrency exchange FTX has been on a journey to mend its relationship with users after a turbulent period last year. However, their efforts faced a setback in August when a cyberattack disrupted their operations, leading to funds being siphoned off by hackers. Now, as they put the security threat behind them, the exchange is gearing up to go back online. On Sunday, September 17, FTX announced the reopening of its Customer Claims portal, featuring upgraded security measures. Previously, the platform faced a security breach involving its bankruptcy claims agent, Kroll, which exposed non-sensitive data. The breach, which occurred on August

100 million XRP tokens valued at nearly $50 million—has been on the move.
5 days ago 2 mins read

100 Million XRP Transferred to Ripple Wallet: What’s Behind the Move?

Recently, crypto data tracker Whale Alert reported a notable transfer of XRP, a digital asset closely associated with Ripple, to a Ripple wallet. Here’s what we know: In the past 24 hours, a substantial amount of XRP—specifically, 100 million tokens valued at nearly $50 million—has been on the move. These tokens were transferred from an unidentified wallet to one linked with Ripple, the blockchain company behind XRP. While the exact motive behind this significant transfer remains shrouded in mystery, some theories have emerged. One possibility is that this transfer represents a wallet restructuring, where assets are shuffled between wallets for

Hackers Target Mark Cuban's Wallet
5 days ago 1 min read

Mark Cuban Falls Victim to Hackers: Cryptocurrency Wallet Drained

Billionaire entrepreneur Mark Cuban’s cryptocurrency wallet, known as “mcuban” on OpenSea, experienced some unusual activity on the Ethereum network. The wallet, which had remained dormant for exactly 160 days, suddenly sprang to life as it initiated transfers of all its assets. The total value moved in this transaction amounted to approximately $800,000. Here’s a breakdown of the transfers that took place: This sudden flurry of activity within a matter of minutes has piqued the interest of crypto enthusiasts and observers. The reasons behind these asset transfers remain shrouded in mystery, and speculation has been running rampant. One plausible explanation could

Jordan Peterson Advocates Abandoning Banks in Favor of Bitcoin
5 days ago 1 min read

Jordan Peterson: Bitcoin Should Replace Traditional Banks

Renowned Canadian psychologist and best-selling author, Dr. Jordan Peterson, has ignited a lively debate within his community of over 4.6 million followers on Social Media Platform X. On September 14, he weighed in on the ‘unbanking’ movement and suggested that Bitcoin (BTC) could serve as a means to “scrap banks.” Peterson’s comments were prompted by news from Australia, where Macquarie Bank’s branches announced their intention to eliminate cash, cheque, and phone payment services. Australia is not alone in this trend. Across many European countries, cash usage is already restricted primarily to smaller transactions. Nigerian banks have also implemented low cash

CoinEx Crypto Exchange Breach
1 week ago 1 min read

CoinEx Crypto Exchange Hacked: Over $43 Million Stolen

Hong Kong’s cryptocurrency exchange, CoinEx Global, fell victim to a security breach on Tuesday, resulting in a substantial estimated loss of approximately $43 million in various cryptocurrencies. As the exchange diligently investigates the incident, it has come to light that the breach involved a second set of suspicious wallet addresses. These addresses were used to siphon off a range of tokens, including Ether, XRP, Solana, Kadena, and Dagger. The situation remains fluid as CoinEx works to determine the full extent of the cryptocurrency assets that have been compromised. Before CoinEx released its latest update on the situation, the blockchain security

PayPal Unveils Crypto Payment Feature
1 week ago 2 mins read

PayPal Introduces Cryptocurrency Payment Option

PayPal, the global online payment giant, has unveiled an exciting new feature called PayPal On and Off Ramps. This integration is set to transform the way we buy and sell cryptocurrencies in the US. So, what exactly are PayPal On and Off Ramps? It’s an extension of PayPal’s existing services, allowing US consumers to seamlessly purchase and sell cryptocurrencies backed by PayPal. But the real game-changer here is that it opens the doors for web3 merchants, cryptocurrency wallets, decentralized apps (dApps), and NFT marketplaces to connect with PayPal’s payment platform. This integration is designed to provide users with a lightning-fast

The Shiba Inu (SHIB) network has been buzzing with activity as $115 million worth of SHIB has been shuffled around by large holders
1 week ago 1 min read

Whales Move $115 Million in Shiba Inu (SHIB)

The Shiba Inu (SHIB) network has been buzzing with activity, as a $115 million worth of SHIB has been shuffled around by large holders. This surge in whale transactions, amounting to a 5x increase, has caught the attention of the crypto community. However, what’s perplexing is that this significant whale activity has not translated into a corresponding surge in SHIB’s price. As of the latest data, SHIB is trading at $0.00000723, showing a consistent downward trend. The key question here is: What is causing this noticeable disconnect between whale activity and price movement? Let’s delve into some possible explanations. One

BTC Dominance Signals Potential Bitcoin Rally on the Horizon
1 week ago 1 min read

BTC Dominance Surge: Bitcoin Rally Anticipated

Bitcoin (BTC) has returned to its familiar sideways trading pattern after briefly dipping into the lower $25,000 range. However, chart patterns are now hinting at the possibility of the flagship cryptocurrency breaking out of its dominance downtrend, potentially setting the stage for a rally in the decentralized finance (DeFi) sector. Bitcoin dominance plays a pivotal role in the cryptocurrency market’s dynamics. Recently, Bitcoin dominance broke its local downtrend while maintaining its higher timeframe uptrend. This development carries a bullish connotation, as history has shown that such a scenario often precedes an upward impulse for Bitcoin. A notable observation by pseudonymous

Following the massive $41 million hack of cryptocurrency casino Stake, the hackers responsible have executed another series of transactions involving Polygon (MATIC) and Binance Coin (BNB) tokens, totaling $328,000.
1 week ago 1 min read

Hackers Behind $41M Stake Heist Transfer BNB and MATIC

The hackers responsible for the $41 million crypto heist at Stake’s casino have recently executed additional transactions, transferring around $328,000 worth of Polygon (MATIC) and Binance Coin (BNB) tokens. These latest movements come in the wake of the exploit on September 4th and have been reported by blockchain security firm CertiK. In their most recent activity, the hackers transferred 300 BNB tokens valued at around $61,500 to an externally owned address labeled “0x695.” These tokens were then bridged to the Avalanche blockchain on September 11th at 4:09 p.m. UTC. Additionally, 520,000 MATIC tokens, worth over $266,000, were moved to Avalanche

Binance.US has taken a firm stance against the U.S. SEC request for depositions from the exchange's executives and further discovery.
1 week ago 2 mins read

Binance Counters SEC’s Deposition Request, Deeming it ‘Excessive

Binance.US has taken a firm stance against the U.S. Securities and Exchange Commission’s (SEC) request for depositions from the exchange’s executives and further discovery. In a redacted response, Binance.US has termed the SEC’s motion “unduly burdensome” and “freewheeling,” highlighting the absence of evidence supporting allegations that customer funds were wrongfully diverted. Binance.US emphasized that despite the extensive discovery process already conducted during the expedited discovery period, the SEC has failed to provide any concrete evidence to substantiate its allegations of investor assets being diverted. The exchange firmly stated that all available evidence, including documents, declarations, and sworn deposition testimony, supports

FTX Accuses LayerZero of Unauthorized Withdrawals, Initiates Legal Action
1 week ago 2 mins read

FTX Sues LayerZero for Alleged Unauthorized Fund Withdrawals

Cryptocurrency exchange FTX has initiated legal proceedings against LayerZero Labs, a cross-chain protocol, in an attempt to recover $21 million in funds that FTX claims were illicitly withdrawn prior to its closure in November. The dispute revolves around a series of transactions conducted between Alameda Ventures and LayerZero earlier in the year. Alameda Ventures, the venture capital arm of Alameda Research and a sister company to FTX, engaged in transactions with LayerZero from January to May 2022. These transactions included payments exceeding $70 million to acquire a 4.92% stake in LayerZero. Additionally, Alameda Ventures paid $25 million for 100