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FilDA Lending Platform Suspends Activities After Security Breach Resulting in Loss of $700,000
11 months ago 1 min read

Cross-Chain DeFi Project FilDA Finance Halts Operations After Losing $700K to Hackers

Cross-chain lending DeFi project FilDA Finance recently suffered a major setback when it halted its operations on the Elastos Smart Chain (ESC) and REI Network due to an exploit that resulted in a loss of approximately $700,000. The hack occurred on April 23, and the company has stated that it is still investigating the incident. In a public statement, FilDA announced that it has identified the vulnerability and isolated the attack vector. However, the ESC and Rei FilDA platforms have been temporarily suspended. FilDA is tracing the activities of the hacker, and initial investigations show that the attacker’s address interacted

Ripple Takes on Financial Inequality, Pledging to Serve 3.7 Billion People Globally
11 months ago 1 min read

Ripple Plans to Provide Financial Services to 3.7 Billion People Around the World

Blockchain-based fintech company Ripple has set its sights on helping over 3.7 billion unbanked and underbanked individuals around the globe. In a tweet released on Earth Day, Ripple announced its plans to tackle one of the most pressing challenges of the century – the global climate crisis – with the help of blockchain innovation in carbon markets. Ripple has been working on this initiative since 2018 and has partnered with various fintech companies, foundations, universities, social entrepreneurs, and NGOs to make progress. The partners are currently active in over 80 countries and have already provided $150 million in donations. According

The deputy chairman of the Tax Committee of Ukraine
11 months ago 1 min read

Ukraine Embraces EU’s MiCA Regulations to Boost Financial Market Stability

The world’s first major comprehensive crypto regulatory framework, the Markets in Crypto Assets (MiCA) regulations, was recently approved by the European Union Parliament, and Ukraine has wasted no time in announcing plans to adopt the framework. MiCA represents a significant step in integrating crypto assets with the world’s financial system, and Ukraine is poised to become one of the first countries to implement the regulations into national legislation. In a statement on April 20, Yaroslav Zheleznyak, the deputy chairman of the Tax Committee of Ukraine, expressed the intentions of the Eastern European nation to adopt MiCA regulations. As a candidate

Study Finds Over 30% of Crypto Investment Videos on TikTok Are Misleading
11 months ago 1 min read

TikTok Users Beware: Study Finds Over 30% of Crypto Investment Videos are Misleading

A recent study conducted by dappGambl has found that over 30% of TikTok videos on Bitcoin and cryptocurrency investments are misleading. The study analyzed over 1,161 TikTok videos that used the hashtag ‘#cryptok’ to post crypto-related content. The research found that 1 in every 3 videos on crypto TikToks was misleading, with just 1 in 10 videos containing any form of disclaimer to warn users about the risks of investments. Moreover, 47% of TikTok creators were found to be pushing services to make money. Even mainstream influencers, such as Kim Kardashian, Jake Paul, and Soulja Boy, were accused of promoting

CoinSwitch Users Prefer Shiba Inu (SHIB) and Bitcoin (BTC) as Most Active Trading Pairs
11 months ago 1 min read

Shiba Inu (SHIB) and Bitcoin (BTC) Top the List of Most Traded Assets on CoinSwitch

Shiba Inu (SHIB) has emerged as the most traded asset on CoinSwitch, India’s leading crypto exchange, according to recent reports. The surge in trading volume for SHIB on the platform coincided with the week spanning April 15 to April 20, during which it surpassed Bitcoin (BTC) as the most traded coin. Shiba Inu’s growing popularity is evident on other Indian crypto exchanges, including WazirX, where it was the most traded asset for the past year. WazirX’s end-of-year report revealed that 27% of first-time cryptocurrency buyers on the platform purchased SHIB, while 50% of all SHIB tokens traded on the platform

Trust Wallet has announced the discovery and resolution of a major vulnerability
11 months ago 1 min read

Trust Wallet Addresses Security Breach: Plans to Reimburse Users Affected by $170,000

Trust Wallet has announced the discovery and resolution of a major vulnerability in its core wallet software library that could have resulted in an estimated loss of around $170,000. The vulnerability impacted wallet addresses on Ethereum and other blockchains generated through the Trust Wallet browser extension between November 14 and November 23, 2022. The issue was caused by a vulnerability in WebAssembly, a computer code format that enables developers to use multiple programming languages to build web applications, including those used in crypto wallets. Trust Wallet’s core software library employed WASM format to facilitate the user creation of their crypto

SEC's Securities Fraud Allegation Against Do Kwon Dismissed by Lawyers
11 months ago 1 min read

Terra Co-Founder’s Lawyers Dismiss SEC’s Securities Fraud Allegation

Do Kwon’s lawyers have reportedly argued in court against the allegations pressed by the US Securities and Exchange Commission (SEC), who had sued Kwon for allegedly defrauding US investors by illegally offering unregistered securities. However, Kwon’s lawyers have asked the judge to dismiss the SEC lawsuit on the grounds that the federal agency’s allegations were unfounded. According to them, US law prohibits regulators from using federal securities law to assert jurisdiction over digital assets in this case. The legal proceedings started when Do Kwon was arrested at Podgorica airport, Montenegro on March 23, while attempting to fly to Dubai using

Gemini, the US-based cryptocurrency exchange
11 months ago 1 min read

Gemini expands its offerings with new crypto derivatives platform for non-US customers

Gemini, the US-based cryptocurrency exchange, is set to launch a new crypto derivatives platform outside of the United States. This move comes amidst the current mass withdrawal of crypto organizations from the US. The new division, Gemini Foundation, will allow eligible users outside the US to trade on both spot and derivatives markets. The first product to be launched on the platform will be a BTC perpetual contract denominated in GUSD, Gemini’s US-dollar-pegged stablecoin. The exchange plans to launch an Ethereum perpetual contract (ETH/GUSD) shortly thereafter. The platform will be available to customers in Singapore, Hong Kong, India, Israel, Thailand,

the past 2 years have seen the emergence of NFTs and memecoins
11 months ago 2 mins read

The Impact of Memecoins and NFTs on Crypto Cycles: A Look into the Future

The world of cryptocurrency has been known for its volatile nature, with capital flowing from fiat currencies to Bitcoin and other large caps before trickling down to mid and low caps. However, the past two years have seen the emergence of non-fungible tokens (NFTs) and memecoins, which have disrupted the existing patterns in the industry. NFTs, especially Profile Picture NFTs (PFPs), are a hybrid of an identity solution, a club, and a fungible token. The NFT market has different sizes based on market cap, with Bored Ape Yacht Club (BAYC) and Azuki leading the large-cap category. In the mid-cap category,

Bitcoin drops to lowest position in April, while altcoins suffer even more
11 months ago 1 min read

BTC hits a new low for April at $27,000 as altcoins continue to struggle

The world’s most popular cryptocurrency, Bitcoin (BTC), has continued its downward spiral, hitting a 25-day low of $27,000. Other altcoins have fared even worse, with Dogecoin experiencing significant losses, while APT and OKB have experienced the biggest slump among mid-cap altcoins. BTC made a significant jump on April 10, soaring past $30,000 for the first time since June 2020. Later that week, it hit its highest price point at just over $31,000 on April 14. However, the following week was less volatile, with BTC hovering around $30,000. On April 19, things took a turn for the worse, and BTC plummeted

SafeMoon Hacker Agrees to Give Back Majority of Stolen Crypto in Recent Agreement
11 months ago 1 min read

SafeMoon Breach: Hacker to Return 80% of Funds Stolen

The cryptocurrency world is no stranger to hacks and exploits, and the SafeMoon community recently suffered a major breach that saw the hacker walk away with $8.9 million worth of BNB. However, in a recent development, the hacker has agreed to return 80% of the stolen funds while keeping the remaining 20%. According to an April 18 blockchain message from the SafeMoon development team, the hacker has agreed to return the majority of the funds that were taken. The message was encoded, and it is part of the ongoing communications between the team and the hacker to resolve the issue.

Cardano ecosystem
11 months ago 1 min read

Cardano ($ADA) Reports Impressive Growth: 1,227 Projects Being Built and 65 Million Transactions Processed

Input Output Global (IOG) has released the weekly development report for the week ending on Friday, April 21, 2023, showcasing the latest statistics on the Cardano ($ADA) network. The report highlights the progress of various teams working on core technology, wallets and services, smart contracts, scaling, and governance. Among the updates, the Adrestia team released an update for Cardano-wallet with new endpoints for shared wallets and performance improvements. The Marlowe team added integration tests for ApplyInputs and state pretty-print choices in the Marlowe Explorer prototype. The Hydra team worked on smoke test improvements and enhanced the API for voting use