Category Archive: Cryptocurrency, No picture
DeFi Protocol Hack Drains $455K from Arcadia Finance
DeFi protocol Arcadia Finance fell victim to a code exploit, leading to a significant loss of approximately $455,000. Blockchain security firm PeckShield was the first to detect and reveal the breach, attributing it to a coding oversight concerning untrusted input validation. #PeckShieldAlert Our community contributor has detected that @ArcadiaFi has been exploited on both #Ethereum […]
Canada Places Trust in Regulated Crypto Investment Funds
The Canadian Securities Administrators (CSA) has confirmed its confidence in the regulated futures market for cryptocurrencies, considering Canada was the first country to launch a Bitcoin exchange-traded fund (ETF): “The presence of a regulated futures market can support the ability of authorized dealers and market makers to properly carry out their market making duties with respect […]
Multichain Halts Operations, Warning Users of Mysterious $126M Outflow
Multichain, a cross-chain bridge platform, has unexpectedly suspended its services and cautioned its user base against transacting after a staggering $126 million asset outflow. This exodus, initially reported by security firm PeckShield, involved cryptocurrency assets being transferred to unidentified wallets predominantly from Multichain’s bridge deployments on Fantom and Dogechain: The Multichain service stopped currently, and […]
DeFi Exclusion From EU’s MiCA Regulation Raises Concerns
The Association for Financial Markets in Europe (AFME) — the organization that represents European wholesale markets — has sounded the alarm on the exclusion of DeFi from the European Union’s Markets in Crypto-Assets (MiCA) regulation. AFME’s new report emphasizes that overlooking DeFi could undermine the effectiveness of the EU’s regulatory frameworks: “The industry remains nascent […]
SEC Investigation Triggers Pause at DeFi Protocol BarnBridge
DeFi protocol BarnBridge has disclosed that it is under scrutiny from the U.S. Securities and Exchange Commission (SEC). The specifics of the investigation remain undisclosed, with elected legal counsel, Douglas Park, citing ongoing and non-public proceedings. The revelation was later confirmed by BarnBridge CEO, Tyler Ward, first on Discord and then reposted on Twitter: “Because […]
Another Binance Exec Resigns Amid US Legal Scrutiny
Patrick Hillmann, Binance’s chief strategy officer, confirmed via a tweet that he is leaving the cryptocurrency exchange, parting ways amicably after a two-year tenure. His announcement joins the recent exits of other top compliance officers at Binance: Apologies for any typos, but I was not expecting to be tweeting about this today. It’s true that […]
Bitfinex Receives Payout From 2016 Hack; Customers to be Recompensated
Bitfinex, a leading digital currency exchange platform, has reported that it has reclaimed a portion of the funds lost in the 2016 security incident. The U.S. Department of Homeland Security (DHS) returned $312,219.71 in cash and 6.917 Bitcoin Cash (BCH) to the exchange as part of this ongoing recovery process. The seizure was accomplished through […]
$39M BTC Scandal Sends Georgian Billionaire to Court
George Bachiashvili, former head of the Georgian Co-Investment Fund, is accused of significant misappropriation of cryptocurrency and alleged money laundering. The Prosecutor’s Office of the Republic of Georgia is heading the case against Bachiashvili, alleging he misused a significant amount of Bitcoin in 2015. The case centers around Bachiashvili’s investments made in the summer of […]
Taylor Swift and Crypto: Sam Bankman-Fried Walked Away from FTX Deal
A partnership worth as much as $100 million was proposed between global pop star Taylor Swift and FTX, the now bankrupt cryptocurrency exchange, only to be shelved by FTX founder Sam Bankman-Fried, according to sources cited by The New York Times. The potential deal, which included the possibility of sponsoring Swift’s tour, was in negotiations […]
Hut 8 Starts Miner Recycling Program, Carbon Neutrality Dedication
Hut 8 Mining Corp., one of North America’s largest digital asset mining pioneers, has released its 2022 ESG report. This marks the second annual report from the company, following its inaugural 2021 findings in an effort to keep up its environmental sustainability, social responsibility, and governance (ESG) standards. In an effort to minimize its environmental […]
