Do Kwon, the discredited creator of Terra, was apprehended in Montenegro last week as he attempted to fly to Dubai using phony IDs. The most recent turn of events indicates that Do Kwon will reportedly be appealing the decision of the court to lengthen the amount of time spent in detention by nearly 30 days. … Read more
The internal leadership of the decentralized financial (DeFi) analytics firm DefiLlama is at odds with the direction the platform will go in the future. While some DefiLlama staff and investors are in favor of releasing a coin that will be known as LLAMA, others are opposed to the concept. Because of this, any plan to … Read more
After the confirmation by the Wall Street investment company Jefferies that it is in discussions with a prospective buyer for the failing FTX exchange, it is possible that plans to establish FTX 2.0 may begin to take shape gradually. After being ordered to cease operations by the relevant authorities, the exchange is anticipated to recommence … Read more
The industry for decentralized finance (DeFi) was shaken up by yet another significant attack during the last week of March. The hack on the DeFi protocol Euler Financial, which resulted in the loss of an enormous $196 million, is now the largest DeFi hack that has occurred in 2023. When investigating the specifics of the … Read more
According to reports, a crypto hack cost Bitcoin ATM manufacturer General Bytes approximately $1.5 million worth of Bitcoin. On March 17 and 18, the company disclosed a security problem that had compromised user information and permitted unauthorized access to such information. The press statement states (1) that the attacker was able to acquire remote access … Read more
As the decentralized lending protocol, Euler Finance attempts to recover from Monday’s $196 million hack, and it is leaving no stone left in its investigation. For the past two days, the Ethereum-based noncustodial lender has communicated with the hacker via several on-chain messages to negotiate a settlement with them. The conversations, on the other hand, … Read more
Hacking is one of the most pervasive threats to the growth and acceptance of cryptocurrency. Over the years, the sector has incurred (1) substantial losses through many vulnerabilities in crypto blockchain systems & related platforms. While there are many varieties of cyberattacks, zero-day flaws have risen to prominence as a preferred method of attack. The … Read more
The worst-case scenario for cryptocurrency investors is when a rapid shift in the market conditions triggers widespread panic and a run on the market. The combined effect of these two events typically results in price fluctuations that cannot be controlled and significant financial losses for investors. The recent announcement that Circle could not withdraw its … Read more
According to published reports, BlockFi also owns $227 million in the bankrupt Silicon Valley Bank, which was not covered by insurance. As the drama surrounding the closing of Silicon Valley Bank unfolds (1) more, other victims are coming to light. Circle, the company responsible for the widely used USDC stablecoin, was the first to suffer … Read more
Robert Kiyosaki has issued a warning that a third U.S. bank will fail, while Peter Schiff has stated that a “greater collapse” is on the horizon. As a result of the failure of Silicon Valley Bank (SBV) & Silvergate Bank within forty-eight hours, the financial system in the United States has been jolted, and economic … Read more