The recent security incident involving Gala Game, a Web3 gaming project, showcased the risks associated with decentralized systems. An unknown attacker exploited a compromised admin address to mint 5 Billion GALA tokens, equivalent to over $200 million. This unauthorized action resulted in the sale of 600 million tokens worth $29 million on Uniswap. The Gala
Crypto
The recent surge in the price of Bitcoin and Ethereum has raised concerns among some prominent figures in the financial world, including Peter Schiff. Despite Bitcoin reaching a high of over $70,000, Schiff remains skeptical of the cryptocurrency’s future, especially with the potential approval of spot Ethereum ETFs by the US Securities and Exchange Commission
Polimec has recently made its debut on Polkadot, offering a groundbreaking approach to decentralized funding for Web3 projects. This innovative protocol aims to reshape how capital is raised and tokens are issued, providing a transparent and compliant environment for investors and startups globally. Polimec represents a major step forward in Web3 fundraising engagement, empowering community
The recent announcement of Michael Sonnhenshein stepping down as the CEO of Grayscale, the world’s largest Bitcoin ETF, has sparked interest and speculation within the cryptocurrency industry. His replacement by Peter Mintzberg, a seasoned professional from Goldman Sachs, signals a significant shift in leadership at the company. This move comes at a crucial time for
Bitcoin’s price has experienced some fluctuations in the past 24 hours, dropping below $67,000 on multiple occasions. However, it has managed to recover from each correction and is currently trading around that line once again. This demonstrates the volatile nature of the cryptocurrency market, where prices can shift rapidly in a short period. Altcoins Reacting
The upcoming economic week is set to be an intriguing one, with major events such as the release of the Federal Reserve meeting minutes and a significant earnings report from Nvidia. These events have the potential to influence markets significantly and provide valuable insight into the state of the economy. In addition to the Federal
The recent arrest of Aiden Pleterski, known as Ontario’s ‘Crypto King,’ has sent shockwaves through the cryptocurrency community. Accused of fraud and money laundering in connection with an alleged Ponzi scheme, Pleterski and his associate Colin Murphy are facing serious charges. The allegations suggest that they stole around $30 million from unsuspecting victims, leading to
Recently, a confidential United Nations report uncovered the alarming activities of North Korea’s cybercriminal group, the Lazarus Group. This group managed to transfer millions of dollars’ worth of stolen cryptocurrency back to North Korea through various illicit means. One notable incident involved the theft of $147.5 million in cryptocurrency from a prominent crypto exchange owned
Recently, two siblings who attended the Massachusetts Institute of Technology (MIT) have been accused of exploiting a vulnerability in the Ethereum blockchain. This resulted in them swindling $25 million in just 12 seconds, marking it as a unique cybercrime. The accused, Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, are now facing federal charges in Manhattan
Polkadot recently announced a groundbreaking partnership with Founder Institute to launch the first Web3 cohort in its Core Program. This collaboration signifies a new chapter in startup acceleration and Web3 technology education, according to Founder Institute. The program, set to launch on May 28, will be guided by top experts from the Polkadot community. This
Bitcoin experienced a highly positive trading week, with its price skyrocketing to over $67,000 – the highest it has been in almost a month. The digital asset retraced slightly to just over $60,000 last Friday before bouncing back and climbing to $63,000 on Monday. Despite a brief dip to $61,200 on Tuesday, Bitcoin saw a
The Chinese police recently made headlines for busting a massive underground banking operation that utilized the popular stablecoin Tether (USDT) to facilitate transactions worth 13.8 billion yuan ($1.9 billion). This operation, which was based in Chengdu Municipal, involved 193 suspects who were directly linked to the criminal activities. It was reported that the police managed
One of the key factors that could potentially contribute to Dogecoin flipping Ripple’s market cap is the influence of Elon Musk. Having Musk as a supporter brings enormous credibility and publicity to Dogecoin, creating a strong foundation for growth. On the other hand, Ripple needs a champion with a similar cachet to stay ahead in
The world of artificial intelligence (AI) and cryptocurrency has been rapidly evolving in recent months. With the introduction of a new ChatGPT model by OpenAI, the potential for growth in this niche market has been on the rise. As the total market capitalization of AI-related cryptocurrencies surpasses the $30 billion mark, investors are looking for
The cryptocurrency market experienced a surge in green today, with several leading digital assets, including Solana (SOL), Cardano (ADA), and Chainlink (LINK), seeing substantial gains. Amidst this positive market sentiment, Doland Tremp (TREMP), a Donald Trump-themed meme coin, stood out by skyrocketing 60% in the past 24 hours, reaching a new all-time high of $1.07
The crypto market has been witnessing a significant shift in dynamics, particularly in the comparison between Ethereum’s Ether (ETH) and Bitcoin (BTC). More than 19 months after Ethereum’s Merge upgrade, it is evident that Ether is struggling to keep up with Bitcoin, with the ETH/BTC price ratio hitting a three-year low at 0.044. This trend
Bitcoin, the world’s leading cryptocurrency, has been experiencing a lackluster trading period over the past couple of months, with minimal upward or downward movement. Despite this, analysts at CryptoQuant have observed various key market conditions that could influence future price movements. Historically, Bitcoin’s most significant growth periods have been associated with substantial increases in the
On a fateful Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs experienced a significant outflow of $39.3 million, marking the highest total outflow since their launch on May 2. The spot Bitcoin funds from prominent issuers like Bosera, China Asset Management, and Harvest collectively lost $32.7 million, while Ethereum funds from the same
CoinGate, a blockchain payment processor based in Lithuania, has recently announced the addition of Shiba Inu as a payment method. This move is seen as a significant step towards mainstream adoption of the meme coin, as it has been integrated with Polygon and Binance Smart Chain. By enabling businesses to buy, sell, manage, and accept
Bitcoin’s price has been facing challenges in maintaining its upward momentum ever since it dropped from the $75K level. However, despite the appearance of a bearish reversal and downtrend on the daily chart, there are indications that a new bullish wave might be on the horizon. The price has been consolidating within a large descending
The recent earnings report from the millennial trading platform, Robinhood, was quite impressive as it surpassed analyst expectations. The company reported record revenues of $618 million for the first quarter, marking a 40% increase compared to the previous year. Notably, revenue from cryptocurrencies saw a substantial surge, jumping by 232% to $126 million. Transaction-based revenues
Polkadot, a blockchain protocol, has recently made significant improvements to its network performance. One of the key advancements includes enabling Asynchronous Backing on the network. This optimized approach for validating parachain blocks by the Relay Chain has resulted in blocks being produced twice as fast and a 6-10 times boost in available blockspace. As a
In a disturbing incident in Hong Kong, four men abducted a crypto investor, causing alarm in the community. The unidentified woman, who is involved in crypto investments, was attacked with a stun gun while riding in a car with her husband. The suspects were determined to take her, leading to a tense situation as the
Cryptocurrency is quickly becoming a significant topic of discussion in the U.S. presidential election. According to a recent survey conducted by Digital Currency Group (DCG), about one in five registered voters consider crypto to be a major issue in the upcoming 2024 election. This shows a clear shift in the political landscape, with more voters
In the last 24 hours, the cryptocurrency market has shown signs of stabilization, putting a stop to the bearish attack and entering a phase of consolidation. Bitcoin’s price is currently hovering around $61K, with Ethereum falling below the crucial $3K mark. The drastic correction in Bitcoin’s price, dropping below $61K and losing approximately 3.5% in
Core Scientific, a prominent player in the Bitcoin mining sector, recently unveiled its financial results for the first quarter of 2024. The company showcased a remarkable turnaround following its emergence from bankruptcy, reporting a net income of $210.7 million. This stands in stark contrast to the net loss of $0.4 million suffered during the same
Despite a recent 20% weekly decline in its price, analysts are optimistic about a significant rally for Shiba Inu. Several factors are contributing to this positive forecast, including a sharp increase in SHIB’s burn rate, enhancements to its Shibarium layer-2 platform, and other bullish signals for its future price. Even though Shiba Inu has experienced