Crypto
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More than $4.7M stolen in Uniswap fake token phishing attack
A sophisticated phishing campaign targeting liquidity providers (LPs) of the Uniswap v3 protocol has seen attackers make off with at least $4.7 million worth of Ethereum (ETH). However, the community is reporting the losses could be even greater. Metamask security researcher Harry Denley was one of the first to raise the alarm bells of the attack, telling his 13,000 Twitter followers on July 11 that 73,399 addresses had been sent malicious ERC-20 tokens to steal their assets. ⚠️ As of block 151,223,32, there has been 73,399 address that have been sent a malicious token to target their assets, under the false impression of a $UNI airdrop based on their LP’s Activity started ~2H ago0xcf39b7793512f03f2893c16459fd72e65d2ed00c cc: @Uniswap @etherscan pic.twitter.com/5W...
Online brokerage M1 Finance to launch crypto trading accounts
Despite the bear market scaring away many crypto investors in 2022, online brokerage firm M1 Finance is set to launch crypto trading accounts and trading services over the next few weeks. The Chicago-based company was founded in 2015 and claims to have more than $5 billion worth of assets under management (AUM). The brokerage also offers retirement accounts in addition to providing commission-free trading on stocks and exchange-traded funds (ETFs). In a July 11 blog post explaining the move, M1 CEO and founder Brian Barnes noted that it was primarily driven by strong consumer demand to support crypto assets: “The crypto market is still young and volatile; Bitcoin emerged just 13 years ago.” he stated before adding, “Cryptocurrencies are a roughly trillion-dollar asset class that over 20% o...
Online brokerage M1 Finance to launch crypto trading accounts
Despite the bear market scaring away many crypto investors in 2022, online brokerage firm M1 Finance is set to launch crypto trading accounts and trading services over the next few weeks. The Chicago-based company was founded in 2015 and claims to have more than $5 billion worth of assets under management (AUM). The brokerage also offers retirement accounts in addition to providing commission-free trading on stocks and exchange-traded funds (ETFs). In a July 11 blog post explaining the move, M1 CEO and founder Brian Barnes noted that it was primarily driven by strong consumer demand to support crypto assets: “The crypto market is still young and volatile; Bitcoin emerged just 13 years ago.” he stated before adding, “Cryptocurrencies are a roughly trillion-dollar asset class that over 20% o...
Helium network team resolves consensus error after 4-hour outage
The Internet of Things (IoT) blockchain Helium shut down for about 4 hours on July 11 due to validator outages from a software update, causing delayed transaction finality. During the outage, devices transferring data over the network were not affected, but miner rewards and token transfers were left pending. The team resolved the issue by skipping the blockchain forward by one block and resuming normal functions. At 10:20 am EDT, the Consensus Group stopped producing blocks at block height 1435692 on the Helium (HNT) blockchain, according to a status update. Lacking network consensus, token transfers could not be completed, and new blocks were not being produced. We’re back folks. The chain just processed block 1,435,693. We’ll continue to monitor the chain throughout the day....
Helium network team resolves consensus error after 4-hour outage
The Internet of Things (IoT) blockchain Helium shut down for about 4 hours on July 11 due to validator outages from a software update, causing delayed transaction finality. During the outage, devices transferring data over the network were not affected, but miner rewards and token transfers were left pending. The team resolved the issue by skipping the blockchain forward by one block and resuming normal functions. At 10:20 am EDT, the Consensus Group stopped producing blocks at block height 1435692 on the Helium (HNT) blockchain, according to a status update. Lacking network consensus, token transfers could not be completed, and new blocks were not being produced. We’re back folks. The chain just processed block 1,435,693. We’ll continue to monitor the chain throughout the day....
Dutch bank ING sells digital asset tool Pyctor to GMEX
ING Group, a Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX. GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday. The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi), GMEX CEO Hirander Misra told Cointelegraph. Pyctor expands MultiHub with a number of digital asset-focused capabilities, including smart contract features, post-trade custodial and institutional network capabilities like the fragmentation...
Binance ban off the cards, says Philippine trade and industry department
A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which the group believes was done without the necessary permits. Binance had looked to acquiesce the parties involved, telling Cointelegraph that it intends to secure virtual asset service provider and e-money issuer licenses in the Philippines. ...
Binance ban off the cards, says Philippine trade and industry department
A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which the group believes was done without the necessary permits. Binance had looked to acquiesce the parties involved, telling Cointelegraph that it intends to secure virtual asset service provider and e-money issuer licenses in the Philippines. ...
PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher
As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and positions the crypto as a digital bond. Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. The researcher explained that this gives the ecosystem a 95% reduction in issuance, limiting the number of ETH that can be sold in a day. Additionally, the researcher also explained that the platform would be running o...
PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher
As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and positions the crypto as a digital bond. Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. The researcher explained that this gives the ecosystem a 95% reduction in issuance, limiting the number of ETH that can be sold in a day. Additionally, the researcher also explained that the platform would be running o...
Tether fortifies its reserves: Will it silence critics, mollify investors?
There is an old Arabic proverb: “The dogs bark, but the caravan moves on.” It could summarize the journey to date of Tether (USDT), the world’s largest stablecoin. Tether has been embroiled in legal and financial wrangling through much of its short history. There have been lawsuits over alleged market manipulation, charges by the New York State attorney general that Tether lied about its reserves — costing the firm $18.5 million in fines in 2021 — and this year, questions voiced by United States Treasury Secretary Janet Yellen as to whether USDT could maintain its peg to the U.S. dollar. More recently, investment short sellers “have been ramping up their bets against Tether,” the Wall Street Journal reported on June 27. But, Tether has weathered all those storms and seems to keep mov...
Tether fortifies its reserves: Will it silence critics, mollify investors?
There is an old Arabic proverb: “The dogs bark, but the caravan moves on.” It could summarize the journey to date of Tether (USDT), the world’s largest stablecoin. Tether has been embroiled in legal and financial wrangling through much of its short history. There have been lawsuits over alleged market manipulation, charges by the New York State attorney general that Tether lied about its reserves — costing the firm $18.5 million in fines in 2021 — and this year, questions voiced by United States Treasury Secretary Janet Yellen as to whether USDT could maintain its peg to the U.S. dollar. More recently, investment short sellers “have been ramping up their bets against Tether,” the Wall Street Journal reported on June 27. But, Tether has weathered all those storms and seems to keep mov...
