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📣 OKX Opens First SUI Token Public Sale For $0.1 On Apr 23
OKX Jumpstart will start selling the new SUI token on April 23, 2023. The event will be held for the first time in registration lottery mode. According to the official announcement, the first public sale of SUI tokens will take place on April 23 on OKX Jumpstart in the form of a token allocation lottery. OKB holders can use their OKB to get lottery tickets and winning tickets will have a chance to buy SUI. An additional recognition sale will be available to Sui ecosystem contributors. To participate in Accreditation Sales, users must be officially whitelisted by the Sui Foundation. Whitelisted users can purchase up to 1,500 SUI from a total of 25,000,000 SUI for just $0.03, and the tokens will be fully unlocked during the mainnet launch. The awarded SUI tokens will be distributed over a 12-month period. After confirming the number of winning tickets, users will unlock 1/13 of their tokens on the same day, and an additional 1/13 can be unlocked on the same day each month. Unlocked SUI tokens will be automatically released to the user’s Funding account. OKB to purchase SUI during the OKX Jumpstart event. Anyone participating in this special event will still be able to participate in the token allocation lottery.
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🪙 Ethereum’s Pending Withdrawals Reaching Over $3 Billion After Shapella
The new Ethereum Shapella upgrade resulted in the long-awaited release of staked ETH. Several experts predicted a drop in the market value of ETH, which resulted in a return to the previously set price range and a considerable rise in pending withdrawals. After the network’s high-profile Shapella update, Ethereum’s total pending withdrawals, or the amount of ETH confirmed to withdraw, including prizes, have reached over $3 billion. According to the data-tracking website token.unlocks, 1.48 million ETH worth $3.11 billion is now awaiting withdrawal. Coupled with a rising withdrawal queue, the price of ETH has surged after Shapella’s introduction, contrary to the forecasts of certain experts and short sellers. The native currency of Ethereum is now trading a little around $2100. The net staking balance from yesterday is around -103,600 ETH (calculated by subtracting the entire amount of ETH removed from the total amount of ETH deposited). Roughly 201,840 ETH has been withdrawn, with a total deposit of 98,240 ETH. The current total amount of ETH staked, excluding earned prizes, is 17.23 million coins, accounting for 15.34% of the entire supply.
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💰 Bitcoin Miner Bitdeer Stock Slumps Nearly 30% at Trading Debut
Bitcoin miner Bitdeer listed today on the Nasdaq after several delays, to lukewarm reception, as the shares of the miner, under the ticker BTDR , lost almost 30% of their value, trading around $6.81 at the time of publication. The stock was halted shortly after market open, several times, for volatility. Other crypto mining stocks saw single-digit upticks in their share value at the same time frame. The Singapore-based firm is one of the largest miners in the world, shows a March prospectus filed with the U.S. Securities and Exchange Commission. It has six mining sites across Washington state, Texas, Tennessee and Norway, with a total energy capacity of 775 megawatts (MW) as of the end of 2022, about less than what it had estimated in February 2022. Its hashrate or computing power at the end of January stood at a total of 16.2 exahash per second (EH/s), second only to bankrupt Core Scientific (CORZ) and higher than Riot Platforms (RIOT) and Marathon Digital Holdings (MARA).
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🟠 Binance Burns Over 2 Million BNB Tokens, Shocking Crypto Investors!
Binance has burned 2,020,132.25 BNB in its 23rd quarterly burn. This brings the total amount of BNB taken out of circulation to $674 million, which is about half its all-time high. The latest burn includes about 656 BNB ($218,000) as part of the exchange’s Pioneer Burn Program, which was introduced in 2020 to help users who lose assets by sending them to the wrong address. Binance’s auto-burn system adjusts the amount of BNB according to the coin’s. Despite the recent burn, the BNB price chart suggests a bullish trend. The price broke out from a long-term descending resistance line and validated it as support, creating a long lower wick and initiating the current upward movement. The wave count also supports the increase, suggesting that the price is in wave three of a five-wave upward movement. The sub-wave count is given in black, also indicating that the price is in sub-wave three. As a result, BNB could be in the portion of the movement in which the rate of increase accelerates. The most likely target for a top would be at $453, a horizontal resistance area. Reaching it would also give waves one and three a 1:1.61 ratio.
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💰 Texas Senate Passes Bill to Limit Bitcoin Miners' Participation in Demand Response Programs
The Texas Senate passed a bill that will cap how much bitcoin (BTC) miners can participate in demand response programs, under which they get paid to curtail their operations at times of high energy demand. Bill SB 1751 passed the Senate with uninanimously and is now heading to the House. If approved, it will have to be signed into law by Texas Governor Greg Abbott. The bill aims to limit bitcoin miners participating in demand response programs. The House vote is expected to be more contentious, in part because bitcoin miners have cranked up their advocacy against the bill. Three lobbying groups including the Texas Blockchain Council, the Chamber of Digital Commerce, and Satoshi Action Fund launched a campaign against the bill on Monday, which they say is "anticompetitive." Bill SB 1751 will likely fail in the House because "the opinions in the House are much more aligned with the positive aspects and the benefits of bitcoin mining," said Fred Thiel, CEO of bitcoin mining firm Marathon Digital Holdings (MARA), which has some of its operations in Texas.
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📣 Euler Under Legal Threats If It Doesn’t Return $2M To DeFi Nexus Mutual Insurer
DeFi insurance company Nexus Mutual is demanding a $2 million refund from claimants of the Euler hack after the team got most of the money back from the hacker. Previously, Euler was hacked for $200 million, but the perpetrator returned almost all the money. So Nexus Mutual covered losses for those who ended up not actually losing. According to CoinDesk, the head of DeFi insurance company Nexus Mutual said that if policyholders suffered losses. On-chain data shows that Nexus Mutual is awaiting refunds from five customers who submitted claims following this attack in March. In total, these customers received nearly $2.4 million in claims, about $2 million of which was in crypto. Additionally, according to Dune data, Euler Finance’s redemption portal returned $133 million in assets to 457 users, six of whom were also Nexus Mutual policyholders. Euler’s hackers have already replaced the funds, and as a result, Euler on Wednesday began processing redemption transactions, including those already paid for by Nexus Mutual. the team even added a notice to the complaints portal reminding policyholders that they owe money.
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🇸🇻 El Salvador Grants First Digital Asset License to Bitfinex
El Salvador granted Bitfinex that country’s first license for digital asset service providers, the company said on Tuesday. The new license was issued subsequent to a law passed in January by the Legislative Assembly of El Salvador that regulates digital securities and created a framework for the Central American country to launch bitcoin-backed bonds. “We are delighted to be the first company to be awarded this license,” Paolo Ardoino, chief technology officer at Bitfinex, said in the statement. “It will enable Bitfinex Securities to facilitate the issuance and secondary trading of assets with clearly defined rights and obligations as outlined in the new digital asset regulatory regime.” Ardoino has worked closely with El Salvador on the bitcoin bond project. Among the products that the new regulation will allow to launch are tokenized shares and yield-bearing assets, said Jesse Knutson, head of operations at Bitfinex Securities.
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🇭🇰 Hong Kong Regulator Says DeFi Projects Could Face Regulatory Requirements
Decentralized finance (DeFi) projects could be subject to licensing requirements and regulation, a Hong Kong regulator said on Wednesday. Keith Choy, interim head of intermediaries at Hong Kong’s Securities and Futures Commission (SFC), said that as long as DeFi activity falls within the scope of the Securities and Futures Ordinance (SFO) it will be subject to the same regulatory requirements as traditional financial activity. Choy made the comments during a speech at the Web3 Festival in Hong Kong as the U.S. and France also published reports on DeFi regulation recently. The SFC had previously highlighted DeFi as an area in need of regulation but had not laid out its stance. "Providing automated trading services is a regulated activity under the SFO," Choy said. "If a decentralized platform allows trading in virtual assets, which constitutes securities or futures as defined under the SFO, the platform and operators are required to have a Type 7 license," he added. Offering a collective investment scheme to the public in Hong Kong is subject to authorization requirements.
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🪙 Ethereum is burning ETH at a rate of $5.5 billion per year as Shapella upgrade approaches
Going into Ethereum's high-profile "Shapella" upgrade, the leading smart-contract protocol is burning ether at a rate of $5.5 billion per year, according to data-tracking website ultrasound.money. Ethereum began burning ether 613 days ago when it implemented Ethereum Improvement Proposal 1559 — which burns a portion of fees generated through transactions — but EIP-1559 itself hasn't decreased the blockchain's total supply. Since EIP-1559 went live, the total supply of ether has increased by 3.23 million coins ($6.2 billion). It wasn't until Ethereum implemented its high-profile switch from the energy-intensive proof-of-work to the more environmentally friendly proof-of-stake consensus mechanism — commonly known as "The Merge" — that the ether supply began to shrink in earnest. Since The Merge took place 208 days ago, the total supply of ether has dropped by 82,924 coins (more than $159 million). Had The Merge never occurred, the ether supply would have increased by 2.33 million ($4.5 billion) coins over the last 208 days.
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📣 Bitcoin mining firm Bitmain reportedly fined for tax violations in China
Bitmain has reportedly failed to pay personal income taxes in accordance with China’s laws on the administration of tax collection. Beijing-based cryptocurrency mining firm Bitmain has reportedly violated tax regulations in China, with local authorities imposing major fines. Bitmain Technologies has been slapped with a tax penalty from the Beijing Municipal Office of the State Administration of Taxation. According to the data, Bitmain was penalized on April 4, 2023, with the firm allegedly failing to pay personal income taxes in accordance with China’s laws on the administration of tax collection. The statement specifically referred to certain violations related to taxes on the income from Bitmain employees’ salaries, bonuses, labor dividends, allowances and more. The tax authority also mentioned that tax inspectors delivered notice on certain tax violations to Bitmain in August 2022. So far, Bitmain’s Beijing unit has failed to pay personal income tax totaling 16.6 million yuan, or $2.4 million. Founded in 2013, Bitmain is one of the world’s largest cryptocurrency mining companies, widely known for manufacturing crypto mining-specific hardware.
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💰 Over 50% Of Bitcoin Supply Lying Down For The Last 2 Years
According to Glassnode statistics, more than half of the Bitcoin supply has not moved in the last two years. This implies that many people who purchased coins more than two years ago are still hanging on to them, unable to sell them. The proportion of supply that was active more than two years ago has risen to an all-time high of 53%, demonstrating that Bitcoin investors remain bullish on the asset’s long-term prospects. Additionally, according to Pomp, an influencer on Twitter, about 29% of all BTC in circulation. From there, we can see that over 2,700,000 Bitcoin has been lost, forgotten, or are in the hands of the world’s most “disciplined investors.”. Besides, BTC’s holdings are decentralized, and regular investors have started to engage in the market. The number of BTC wallet addresses holding more than 100 coins dropped to a three-month low. As the market grows, we may expect to see greater decentralization and equality in BTC ownership, ordinary investors, and even sharks entering the market.
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📣 Crypto Exchange Bitget Starts $100M Asia-Focused Web3 Fund
Seychelles-based crypto exchange Bitget has started a $100 million fund targeting Web3 startups as Asian countries build a framework for developing Web3. East Asian countries have been making strides to promote crypto in the last few months, with Hong Kong seemingly easing its crypto regulations and Japan approving a white paper for Web3 development last week. "Despite the bear run, Bitget has always been supporting promising and innovative projects and the development of the Web3 environment with a focus on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023,” Gracy Chen, managing director of Bitget, said to CoinDesk in a statement. A spokeswoman for Bitget said that the fund is self-funded. “Bitget is debt-free with adequate cash flow, thanks to its steady development and fast-growing business,” she said.
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🇭🇰 Hong Kong Continues Building Web3 Development Strategy
Hong Kong’s Financial Secretary Paul Chan issued an article in favor of Hong Kong’s Web3 policy of “proper regulation” and “promotion of development.” According to Paul, the world is vying to see who can provide the most room for Web3 innovation under the concept of manageable risks. He also added that, although some exchanges have closed in the past, now is the greatest moment to encourage the growth of Web3. The finance secretary stated Web3 festivals that embody Hong Kong’s vision and Web3’s growth plan had piqued the attention of industry insiders and will include frequent events this week. Web3 infrastructure, trading platforms, virtual assets, wallets and payment instruments, and security-verified networks are all examples. Notwithstanding the recent volatility in the cryptocurrency market. As Coincu reported, Hong Kong regulators are seeking for talks between crypto businesses and bankers to assist sector funding. The gathering intends to enable bank funding for money firms in order to propel Hong Kong closer to being a crypto center.
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🇺🇸 US DOJ Confiscates $112 Million Worth of Crypto Linked to ‘Pig Butchering’ Scams
The authorities seized the crypto assets from six accounts based in Los Angeles, the District of Arizona, and the District of Idaho. The United States Department of Justice (DOJ) seized $112 million in cryptocurrencies previously drained through the so-called “pig butchering” scams. One particular account based in Los Angeles contained more than $66 million worth of digital assets. Prosecutors claimed that criminals used the addresses to launder proceeds of various crypto fraud, including “pig butchering” scams. “Pig butchering” refers to fattening a pig before slaughter. Criminals would contact victims via direct messages and offer them a great “investment” that could bring substantial profits. They might explain how they found the contact details and lure people into suspicious schemes (which, in many cases, are too good to be true). Such wrongdoers could even develop a romantic relationship with their victims only to win their trust. Unfortunately for those who fall into that trap, there is no real love behind those fake gestures but only an attempt to steal one’s funds. The American authorities confiscated the digital assets from six accounts based in Los Angeles, the District of Idaho, and the District of Arizona.
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💰 Polygon Becomes The 2nd Largest Gaming Blockchain In March
Layer-2 scaling solution Polygon is making a reputation for itself in the game industry after seeing an increase in daily unique active wallets (UAWs) last month. According to a Blockchain Games report released on April 6 by the decentralized application (dApp) monitoring platform DappRadar, the number of UAWs engaged with games on Polygon reached 138,081 in March, a 53% rise from February. The layer 2 is significantly ahead of third and fourth-ranked Hive and the BNB Chain, which have 84,000 and 80,000 UAWs, respectively, but Wax Blockchain (WAXP) remains the top blockchain game, with a UAW that is nearly 228% more than Polygon. According to the statistics, Wax was the most active gaming blockchain in March, with 314,976 daily unique active wallets. This reflected a reduction of 8.11% over the previous month. The statistics also indicated that Alien Worlds had a 66% share of the Wax activity. In terms of on-chain dApp activity, the action role-playing game has subsequently ascended to become one of the top five blockchain games.
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📣 BitPay Already Supports Users To Buy ETH With Apple Pay
BitPay, a cryptocurrency payment service provider, revealed on April 15 that consumers might buy Ethereum (ETH) using Apple Pay. According to its official website, customers may buy Ethereum online using the platform’s self-custody wallet software or the purchasing widget, which is Apple Pay compatible. Users may buy over 60 cryptocurrencies, including Ethereum and Bitcoin, using the BitPay app, which allows cryptocurrency payments. Users may buy over 60 cryptocurrencies, including Ethereum and Bitcoin, using the BitPay app, which allows cryptocurrency payments. © 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: editor@coincu.com. BitPay was incorporated into Apple Wallet and Apple Pay in 2021, enabling Bitcoin to be consumed online, in retail, and via applications. The Apple Pay connection is part of the company’s bigger aim to capitalize on the recent surge in Bitcoin values. BitPay accepts 14 cryptocurrencies for purchase with Apple Pay, including Bitcoin, Ethereum, Polygon, USDC, and Dogecoin, and there is no cost.
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🔵 Arbitrum AIP 1.05 To Return 700M ARB Tokens Fails With 84% Votes Against
Arbitrum’s controversial AIP 1.05 to return 700M ARB tokens failed overwhelmingly with 84% against it. Notable holders prioritize platform viability, raising questions about future steps for the contentious funds. Arbitrum Improvement Proposal 1.05 (AIP 1.05), which aimed to return 700 million ARB governance tokens, has failed by an overwhelming majority. 141 million ARBs participated in the voting, and 84% voted against the proposal. The reasons behind voting against the proposal could involve the perception that more-minor voters are primarily concerned with increasing the value of Arbitrum’s governance token. At the same time, larger holders mainly prioritize the platform’s long-term viability and the Arbitrum Foundation’s capacity to distribute tokens. Furthermore, some individuals might have considered the suggested forced buyback a radical measure intended more as an attention-seeking tactic than a practical solution. Additionally, certain parties argue that AIP-1.1 already tackles the issue of the contentious funds since the Arbitrum Foundation intends to transfer the tokens.
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🪙 Ethereum Layer 2 Network zkSync Era Jumps to Nearly $250M in Locked Value
Ethereum scaling blockchain zkSync Era has attracted over $245 million in around three weeks after launch as investors search for the next big bets to place on newer projects building on upstart networks. Data from L2Beat, which tracks activity on layer 2 networks built on top of the Ethereum blockchain, shows over 70,000 ether (ETH), $81 million in USD coin (USDC) stablecoin and $8 million in mute (MUTE) tokens have been locked on zkSync since March 22, when the network first launched. The TVL amount is distributed among several zkSync-based projects for purchasing ecosystem tokens or providing liquidity to exchanges on the network. DefiLlama data shows on-chain exchange Syncswap leads in total value locked (TVL) among Era-based services, with over $64 million. It is followed by Velocore at $25 million and Mute at $15 million. On-chain derivatives trading has not caught up among Era users so far, data suggests. Era-based Onchain Trade, a derivatives DEX, holds just over $2 million in TVL and has seen zero volumes for futures in the past 24 hours. Spot trading on the DEX, however, has racked up $600,000 in volume.
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💰 Bitcoin’s Record-Breaking Run Continues, Reaching $31,000
Bitcoin has finally reached a milestone by crossing $31,000 for the first time in almost one year. Investor sentiment has recovered drastically, and money is pouring back into the industry. The positive momentum has left a bullish aftertaste in the mouth of investors, who are feeling more confident about the future of the market. This is a significant achievement for the digital asset, especially considering the uncertainty and volatility that has plagued the market in recent months. The price of Bitcoin crossed the $31,000 mark in the early hours of Friday, marking a significant milestone for the digital asset. The last time that Bitcoin was at this price point was back in June 2022, a couple of months before the FTX implosion. The months that followed were challenging for the cryptocurrency market, but the recent recovery has signaled a positive shift in the industry. Bitcoin has had an impressive week, with the digital asset moving above $30,000 and solidifying its rally. In fact, the asset’s price has seen an over 10% increase in the last week alone, pushing its market cap toward $600 billion. This is a remarkable achievement considering that BTC has now risen around 100%.
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📣 Bitcoin miner Riot Platforms responds to NYT with cheeky video saying facility doesn’t literally produce CO2
Bitcoin miner Riot Platforms posted a tongue-in-cheek video and a written statement defending itself after The New York Times published a story about the "enormous carbon pollution" and high electricity costs created by the mining industry. We were especially disappointed to read a false and distorted view of our company and our industry in the article published by The NYT. Worse still, The NYT chose to publish the article with information its authors knew to be false. The Times estimated that 96% of the power used by Riot comes from fossil fuels and found that in Texas, increased demand from mining resulted in electric bills nearly 5% higher, another $1.8 billion a year. The additional use of power causes as much carbon pollution as adding 3.5 million gas-powered cars to America’s roads. The Times reported that Riot's mine in Rockdale, Texas, "uses about the same amount of electricity as the nearest 300,000 homes, making it the most power-intensive Bitcoin mining operation in America." bitcoin miner by market cap, said its data center uses electricity from the Texas grid, which it claimed is the cleanest and most renewable energy-sourced grid in the United States.
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🟠 Binance Will Support Staked ETH Withdrawals From April 19
Major exchanges have begun to allow users to open unstake ETH but have not announced a specific time when they can redeem the amount of ETH rewards. Binance was the first exchange to let users know about this information, that is, after one week. Binance stated on Thursday that customers who staked Ethereum (ETH) on the exchange would be able to redeem currencies for BETH holdings on a 1:1 ratio beginning April 19. Binance said that once a withdrawal request is received, it cannot be canceled, and the process may be lengthy at first, taking 15 days to several weeks to complete. Redeemed ether will be sent to users’ spot wallets, and pending BETH tokens trapped in pending ETH withdrawal requests will not be eligible for staking incentives. Binance’s BETH token is a wrapped token that is 1:1 tied to ETH on the Ethereum network. The Shanghai onerous split of Ethereum, also known as “Shapella,” has been completed, allowing customers who’ve “staked” their ETH to secure and confirm transactions on the blockchain to withdraw.
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📣 Crypto Miner Core Scientific Appoints a New President
Crypto hosting and mining company Core Scientific (CORZ) has appointed crypto veteran Adam Sullivan as its new president, a court filing shows. Sullivan spent the past six years in various roles at financial services firm XMS Capital Partners, where he was most recently managing director and head of the digital asset and infrastructure group. At Core Scientific, Sullivan will work on financial and strategic matters, including working with customers, suppliers and creditors as well as help with the reorganization of the company’s management team, according to the filing. Todd DuChene, Core Scientific' current president, will become chief legal officer and chief administrative officer, leading corporate, legal, financial and administrative tasks. In December, the Austin, Texas-headquartered company, one of the largest publicly traded crypto mining companies in the U.S., filed for bankruptcy after a year of low crypto prices and high energy prices.
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📣 Glassnode Estimates $300M Ether May be Sold After Shanghai Upgrade
While analysts from traditional banks remained mixed on the market impact of ether (ETH) after the much-awaited Shanghai upgrade later today, an on-chain report from Glassnode estimates at least $300 million worth of selling pressure. Glassnode said the estimate was made based on a “50% withdrawal credential update, our segmentation of depositors, and assumptions regarding investor conviction, and profitability”. Shappella – a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that are expected to occur simultaneously on April 12 – will allow investors to withdraw their ether staked on the Ethereum blockchain. Staked ether cannot be withdrawn or freely traded currently. Banks such as JPMorgan (JPM) say ether will likely face some selling pressure from the upgrade as more than one million ether staking rewards become instantly available this week. The bank says it expects ether to underperform bitcoin (BTC) over the next few weeks.
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🇺🇸 SEC Is Adding Attorneys to Crypto Enforcement Unit
The U.S. Securities and Exchange Commission is hiring general attorneys for its crypto enforcement division in New York, Washington and San Francisco, according to a job posting. The call for attorneys to join the regulator's Crypto Asset and Cyber Unit, or CACU, comes after the agency said in March that it was "planning to add additional staff" to the unit, which was initially meant to be a 20-person operation but has since doubled in size. Under Chairman Gary Gensler, the SEC has been cracking down on the crypto industry with renewed vigor since the 2022 market turmoil saw the collapse of big firms in the sector, crypto exchange FTX among them. The attorneys joining the CACU are expected to conduct investigations involving "crypto asset securities," develop litigation plans, draft legal documents including subpoenas and conduct depositions. The CACU "exercises the full range of the Division's investigative and law enforcement powers, and focuses on violations of the federal securities laws," the job posting said. Compensation for the positions range between $140,000 and $260,000 depending on the location.
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🇲🇪 Montenegro partners with Ripple to launch its own digital currency
Montenegro’s central bank announced today that it has signed an agreement with Ripple to develop a strategy and pilot program for a national stablecoin or central bank digital currency (CBDC). It is essential to know that the exact nature of the potential future of CBDC is not yet known, however, as Montenegro has no national currency of its own. The country has been using the euro since 2002, despite not being part of the Eurozone. Ripple’s Vice President for Central Bank Engagements and CBDCs, James Wallis, said that the project would go through several stages, including identifying practical applications of the digital currency and a sandbox stage to put the future digital currency into circulation under controlled conditions. The project will begin this month, he added. The Central Bank of Montenegro Governor Radoje Žugić said in a statement that the central bank would work with the government and academic community to analyze the advantages and risks of CBDCs or national stablecoins in terms of electronic means of payment, security, efficiency, compliance with regulations, and the protection of end-users rights and privacy.
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📊 Bankruptcy Claims Exchange OPNX Surges To Over $12,000 Daily Volume
The bankruptcy claims exchange Open Exchange (OPNX), founded by Su Zhu, the founder of Three Arrows Capital and others, had a bad start with a first-day trading volume of just $13.64. However, today, this number has spiked to more than $12,000, marking an increase of over 90,000%. The exchange announced on Twitter that the trading volume of OPNX on the fifth day was $12,398. It is much higher than the performance of the previous few days. OPNX was already functioning 5 days ago. The exchange’s Twitter account, which was launched by the creators of the bankrupt 3AC crypto hedge fund, was removed soon after its first day of operation. Su Zhu said that the US government had shut down OPNX’s official Twitter account and included a link to a Chinese Telegram group. He did not, however, explain the precise reason. Customer’s claims against insolvent cryptocurrency businesses will be tokenized by the exchange, allowing them to use bankruptcy claims as collateral while trading indefinitely. CoinFLEX and FLEX tokens have been transferred to OPNX.
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📣 Sushi DEX Recovers 100 Ether After Millions Lost on Weekend Exploit
Decentralized Finance protocol SushiSwap has recovered $186,000 worth of ether (ETH) that a hacker drained from one of its users’ wallets following a $3.3 million exploit this weekend, according to a Sunday tweet from blockchain security firm Blocksec. The attack exploited a vulnerability in the 'RouterProcessor2' contract, which is used to conduct trade routing on the SushiSwap exchange. BlockSec recovered the 100 ETH on Sunday by intercepting a transaction from prominent SushiSwap user @0xsifu’s wallet to the hacker’s wallet. BlockSec detected malicious activity during the attack attempt and was able to effectively rescue part of the funds. As such, SushiSwap lead developer Jared Grey said on Sunday that the protocol is working on a retrieval plan to secure the stolen funds and make affected users whole. “Rest assured the team is working diligently to mitigate risk and retrieve user funds,” Grey wrote in an early Sunday message on Discord.
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📣 zkSync Boosts Over 100,000 Bridging Users In Just 2 Weeks
zkSync Era, the first zkEVM platform open to all Ethereum users, has achieved impressive results since its launch. According to the latest data from Dune Analytics, the number of zkSync bridging users has increased. At the time of writing, this indicator has exceeded 800,000, reaching 802,144. It is currently the Ethereum Layer 2 network with the largest number of bridging users. The current total value of bridging storage is 245,838 ETH. Historical data shows that the number of zkSync bridging users exceeded 700,000 on March 26, which means that the number of new bridging users exceeded 100,000 in the past two weeks. zkSync Era is the first Ethereum Virtual Machine zk-Rollup to launch on the mainnet, allowing most compatible Ethereum dApps to simply roll over with very little change. Its competitor StarkWare is also using a bespoke language called Cairo to enhance its solution. Account Abstraction will be supported by zkSync Era from the start. This is a new improvement given to Ethereum last month that allows cryptocurrency wallets to be turned into smart contracts, hence simplifying wallet usage when activities.
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📣 $3.3M in ETH Drained From SushiSwap Approval Contract
The funds were siphoned off a single user. The blockchain security resource PeckShield was the first to inform about the exploit against SushiSwap’s approval contract. According to the firm, all 1,800 ETH (worth about $3.3 million) were drained from a single user – @0xsifu. The “RouterProcessor2” contract in question is used to execute trade routing on the popular decentralized exchange. Jared Grey, SushiSwap’s head developer, also weighed in on the matter, outlining the “approval bug” and advising users to revoke the approval as soon as possible. Additionally, Grey tried to caution the community by noting that the team behind the DEX is working on finding a proper solution. The blockchain security resource PeckShield was the first to inform about the exploit against SushiSwap’s approval contract. The “RouterProcessor2” contract in question is used to execute trade routing on the popular decentralized exchange. According to the firm, all 1,800 ETH (worth about $3.3 million) were drained from a single user – @0xsifu.
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🟠 Binance.US Having Difficulty Finding A Cash Banking Partner In The US
Binance.US is trying to find a bank to handle its clients’ cash, the Wall Street Journal said on Saturday, citing individuals familiar with the case. According to the WSJ, citing people familiar with the subject, the recent collapses of Silvergate and Signature Bank left Binance.US without banking facilities, relying on middleman’s banks to keep cash on its behalf. Earlier, deposits were transmitted to Signature Bank or Silvergate. The report says that Binance.US uses at least one middleman to keep cash, and since the money is stored by a third party, it may impede sending and transferring payments. The company has sought unsuccessfully to develop ties with Cross River Bank and Consumers Bancorp Inc, but banks are hesitant owing to regulatory risk. A spokesperson for Binance.US told the WSJ. Customers of Binance.US have been impacted by the absence of a direct bank. In a recent status update, the exchange said that it would be migrating to new banking and payment service providers over the next few weeks, and that certain USD deposit services might be temporarily disrupted.
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