Crypto News
MicroStrategy’s Bitcoin Holdings Surpass $2 Billion in Profits as Bitcoin Tops $42,000
The eye-catching Bitcoin pile of MicroStrategy has recently surpassed $2 billion in unrealized profit. As the price of bitcoin briefly surpassed $42,000, MicroStrategy’s bitcoin accumulation seems to be paying off handsomely on paper. Bitcoin surged from a 24-hour low of $39,400 to a high of $42,108 before dropping to its current price of $41,715. This …...
Bitcoin and Ethereum Remained Institutional Safe Havens Amid 2022 Chaos: Report
Leading crypto exchange Bybit has analyzed trader behavior during the wild market swings since 2022. Their asset allocation research explores how different groups shifted holdings across coins, stablecoins, and alt tokens as prices whipsawed. With crypto buffeted by crises like Terra’s collapse and FTX’s implosion, traders employed strategies aligning risk profiles and sentiment. However, significant …...
El Salvador’s Bitcoin Investment In the Green, Nayib Bukele Slams Critics
El Salvador’s venture into Bitcoin has taken a positive turn, with President Nayib Bukele announcing notable profitability that contradicts earlier negative narratives. Through his latest tweet, Bukele clarified that the current market conditions have not only allowed the nation to recover its entire Bitcoin investment but also to accrue an unrealized profit of $3,620,277.13. Addressing …...
SEC Ordered to Explain “False Statements” Leading to Asset Freeze
A federal judge has ordered the Securities and Exchange Commission (SEC) to show cause why it should not face sanctions after finding the agency made misleading statements about DEBT Box to obtain an emergency court order freezing over $49 million in assets last July. The rebuke from Chief Judge Robert Shelby spotlights “materially false” representations, …...
Platypus Hackers Walk Free After $8.5 Million Crypto Hack
Two brothers arrested for exploiting vulnerabilities in the decentralized finance protocol Platypus that led to the theft of $8.5 million worth of crypto assets were acquitted of all charges in a Paris court last week. The news was initially published by the news outlet Le Monde. In mid-February, an ethical hacker named Mohammed M. drained …...
KyberSwap Pledges Treasury Grants in Response to $48,000,000 Hack
Decentralized cryptocurrency exchange KyberSwap has pledged ongoing assistance to users and law enforcement following a devastating hack last week that resulted in nearly $50 million being stolen. The platform said it understands many are facing hardship and promised grants to affected users. On November 22, an exploiter took advantage of a vulnerability in KyberSwap’s Elastic …...
Coinbase Receives 13,079 Law Enforcement Requests, Reflecting a 6% Increase
Crypto exchange Coinbase published its fifth annual transparency report this week. With the report, the crypto exchange is shedding light on the number and nature of government and law enforcement requests for customer data that the company has received over the past year. The report, covering the period from October 1, 2022, through September 30, …...
Majority of Forkast Staff Let Go in Wake of CryptoSlam Merger
Forkast Labs, the merged entity of crypto news site Forkast.News and NFT data provider CryptoSlam, has laid off the majority of its editorial staff as part of a shift in focus to data products, The Block has learned. According to multiple sources close to the matter, the publication has stopped pushing out new articles and …...
Miami Crew Leader Receives 63-Month Prison Sentence for $4M Crypto Fraud
Esteban Cabrera Da Corte, also known as “Esteban Cabrera” was sentenced on Friday to 63 months in federal prison for leading a scheme to steal millions of dollars in crypto. The 27-year-old from Miami used stolen personal information to set up fake accounts and trick U.S. banks and a major cryptocurrency exchange into reversing legitimate …...
Crypto Hacks Soar in November, Resulting in $343,000,000 Stolen
The crypto industry witnessed its highest monthly losses this year in November 2023 as hacks and frauds targeting decentralized finance (DeFi) and centralized finance (CeFi) surged. With over $343 million lost, the ecosystem saw a 15-fold increase in damages compared to October 2023. The data is from a November 2023 crypto loss report. Major Incidents …...
MicroStrategy Acquires 16,130 Bitcoin (BTC) For $593,300,000
MicroStrategy, led by CEO Michael Saylor, has recently acquired an additional 16,130 Bitcoin for approximately $593.3 million. This latest acquisition brings the total Bitcoin holdings of the tech-focused firm to 174,530 BTC, valued at around $5.28 billion. Current Valuation and Profits: MicroStrategy holds 174,530 Bitcoin MicroStrategy’s Bitcoin journey, initiated in 2020 under the visionary leadership …...
KyberSwap Hacker Asks For Complete Control of the Firm
The pseudonymous hacker who exploited the decentralized exchange KyberSwap earlier this month has issued startling demands that would grant them complete authority over the battered protocol’s operations and assets. In an on-chain message addressed to “all relevant and/or interested parties,” the exploiter calling themselves “Kyber Director,” thanked the community for patience during this “uncertain time. …...
U.S. Treasury Imposes Sanctions on Crypto Mixer Sinbad Linked to Axie Infinity Hack Laundering
The U.S. Department of the Treasury announced sanctions today against the cryptocurrency mixing service Sinbad.io (Sinbad). The sanctions are based on its alleged involvement in laundering hundreds of millions of dollars in crypto stolen by the North Korean state-sponsored Lazarus Group. Crypto mixers or tumblers are designed to obscure the origin and destination of digital …...
Ronaldo Faces Lawsuit For Promoting Crypto Exchange Binance
Cristiano Ronaldo is facing a proposed class-action lawsuit alleging he promoted the cryptocurrency exchange Binance, which has since faced legal troubles in the United States. Filed on November 27 with a U.S. District Court in Florida, the lawsuit claims Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in …...
Velodrome and Aerodrome DEXs Suffer Frontend Attacks
In a series of tweets, two decentralized cryptocurrency exchanges (DEXs) on the Optimism and Base blockchains reported that their frontends had been hacked. Velodrome, the biggest DEX on Optimism in terms of total value locked, tweeted, “Our frontend is currently compromised. Please do not interact with Velodrome for the time being. The team is investigating …...
Binance.US Remains Unaffected Amidst Legal Drama, CZ Steps Down
Binance.US took to X (formerly Twitter) to assure its community that it stands unaffected by the recent settlements. The official statement emphasizes the crypto exchange’s commitment to operating independently and adhering to all U.S. rules and regulations. Launched with the explicit goal of serving United States customers, Binance.US has clarified that it is not implicated …...
Binance CEO Reaches Out to Users With An Important Message
Richard Teng, the newly appointed CEO of leading cryptocurrency exchange Binance, laid out his vision and commitments in his first public address since taking the helm. Teng formally succeeded company founder Changpeng “CZ” Zhao shortly after CZ stepped down. In the open letter posted to Binance’s blog, Teng underscored his core focuses as incoming chief …...
Crypto Funds Witness $346,000,000 Inflows, Here’s Why
Crypto investment products saw record inflows of $346 million last week, marking the largest weekly inflows during the current 9-week run, according to the latest report from CoinShares. The combination of rising cryptocurrency prices and growing investor inflows has now pushed total assets under management (AuM) in these funds up to $45.3 billion, the highest …...
Investors Caught in $15 Million Hong Kong Crypto Scam Say Warning Came Too Late
Several Hong Kong residents lost a total of nearly HK$120 million (US$15.4 million) in an alleged cryptocurrency investment scam, according to police reports. Many affected say warnings about the suspicious trading platform came too late, according to the South Morning China Post. The Securities and Futures Commission (SFC) added Hounax to its list of suspicious …...
Justin Sun Announces Airdrop For HTX and Poloniex Users Following Exploit
Cryptocurrency exchange Poloniex and its native token HTX were the targets of hacker attacks earlier this month, prompting the platform to temporarily suspend deposits and withdrawals. Now, Poloniex’s owner, Justin Sun, has announced plans to compensate affected users as services resume. In a recent tweet, Justin Sun said Poloniex and HTX “approach opening deposit and …...
