Author: Harshini

A $200 million loss for a Hong Kong firm due to a crypto hack is a cautionary tale Hackers stole roughly $200 million from crypto startup Mixin early on Saturday, the company announced on social media site X on Monday, in what researchers claim is the greatest crypto theft of the year so far. Mixin, which claims its headquarters as Hong Kong on LinkedIn, stated that the database of its network’s cloud service provider was “hacked, resulting in the loss of some assets” and that “the funds involved are approximately US$200 million.” Mixin describes itself as a digital asset transfer…

Upbit Successfully Stops the Influx of Fake APT Tokens and Quickly Restores Services to Users Upbit, a South Korean cryptocurrency exchange, has reinstated Aptos APT deposits and withdrawals following the resolution of an incident in which a counterfeit APT token was mistakenly identified as a genuine item. After detecting an “abnormal deposit attempt,” Upbit unexpectedly discontinued Aptos token services on September 24, sparking an assessment of the wallet system. The issue appears to have been caused by a freshly minted bogus APT token called “ClaimAPTGift.com,” which had made its way into 400,000 Aptos wallets after its formation on September 21.…

Binance CEO Zhao files court move for sec lawsuit dismissal of a significant crypto legal development Binance CEO Changpeng “CZ” Zhao and his cryptocurrency exchange have filed a joint motion to dismiss the SEC’s case against them. Binance Holdings and Zhao both claimed in a September 21 filing in the United States District Court for the District of Columbia that the SEC had overstepped its authority in the litigation against them. Lawyers for Binance and Zhao accused the SEC in the 60-page petition of failing to create clear guidelines for the industry before its case against the crypto exchange and,…

A detailed overview of the crypto dispute involving FTX and the parents of founder bankman-fried Managers at the bankrupt corporation accuse the pair in a petition of retaining millions of “fraudulently transferred” cash and turning a blind eye to company malfeasance. The case was brought on behalf of those who were owed money following the firm’s demise. Mr Bankman-Fried was arrested last year as a result of the company’s demise. Prosecutors in the United States have accused the former millionaire, dubbed the “King of Crypto,” of unlawfully moving millions from the exchange to cover losses at his trading firm, make…

The latest decline in the Ether ratio continues a trend that began more than a year ago The Ethereum network is being dominated by crypto whales. These powerful people have a huge impact on the crypto market dynamics due to their large holdings of Ether, the native cryptocurrency of the Ethereum network. As significant token holders, including Ethereum co-founder Vitalik Buterin, shifted assets to crypto exchanges, presumably as a prelude to selling, the ether-to-bitcoin ratio fell to a 14-month low. According to TradingView statistics, ETH-BTC fell to roughly 0.0602 on Tuesday, its lowest level since July. The recent price movement…

Genesis, a crypto trading firm, has announced the closure of its crypto trading business operations Under a spokeswoman, Genesis, the crypto-trading industry devastated by the failures of Three Arrows Capital and FTX last year, has suspended all trading operations. The company closed its U.S. desk last week, but the worldwide spot and derivatives trading operations are also ending, according to the spokeswoman. The announcement adds, “Genesis has decided to discontinue offering digital asset spot and derivatives trading through GGC International, Ltd. (GGCI).” “I made this decision voluntarily and for business reasons.” Genesis no longer provides trading services through any of…

Suspicion of a $27 million hack prompts CoinEx crypto exchange to halt withdrawals CoinEx has banned withdrawals from its platform following the theft of millions of dollars in tokens by a suspected hacker. After numerous cybersecurity firms raised the alarm on X, formerly known as Twitter, yesterday, Coinex announced that it had “detected anomalous withdrawals from several hot wallet addresses used to store CoinEx’s exchange assets.” Initial warnings indicated that the losses in Ethereum (ETH), Tron (TRON), and Polygon (MATIC) may total $27 million. On Tuesday night, CoinEx stated that the exact amount of the loss was still being calculated,…

Learn how the G20’s support will likely lead to a more balanced approach to crypto regulations As stated by a senior government official, a blanket ban on this new emerging technology is unlikely because the G20 member nations have established a framework for the regulation of cryptocurrency assets by endorsing the recommendations of the International Monetary Fund (IMF) and the Financial Stability Board (FSB). The official stated, “If any country wants to ban it, you can ban it, but if the rest of the countries are not banning it, it will be very difficult to implement the ban.” The official…

Know about the phishing attack that stole $24 million worth of ETH from Crypto Whale’s wallet A cryptocurrency whale was the target of a massive phishing attack, which resulted in the loss of millions of dollars worth of staked Ether on the liquid staking platform Rocket Pool. On September 6, according to the cryptocurrency security company PeckShield, the investor lost all of their Lido Staked ETH (stETH) and Rocket Pool ETH (rETH) address balances. Only two transactions were required to accomplish the hack, with 9,579 stETH and 4,851 rETH taken in each. At the time of the incident, the stolen funds…

Know about the guide on considering the opportunities for a crypto bull market In 2021, there was a lot of anticipation and hope surrounding the crypto market, but there were also many obstacles and setbacks. Grayscale’s legal victory over the SEC regarding its application for a Bitcoin ETF was the most recent occurrence that raised hopes for a bull market in cryptocurrencies. This was a significant development for the cryptocurrency market since it might increase institutional acceptance and innovation. The market response, however, was short-lived, and Bitcoin and other cryptocurrencies quickly lost their appeal. The cryptocurrency bull market appears elusive,…