DEUS Finance, a DeFi protocol, was hacked over the weekend, resulting in a loss of over $6 million. The hackers exploited a vulnerability in DEUS Finance’s own stablecoin DEI on BNB Smart Chain and Arbitrum networks. However, a significant portion of the lost funds has now been recovered. The Hack According to blockchain security firm
Blockchain
TBD, the crypto firm of Jack Dorsey, has collaborated with Ray Youssef, co-founder of Paxful, to launch a new decentralized peer-to-peer (P2P) crypto trading platform called Civilization Kit (Civ Kit). The platform aims to provide thousands of plug-and-play P2P marketplaces worldwide. Details of Civ Kit Civ Kit will be developed on Nostr, a decentralized network
The US Justice Department is currently investigating whether Binance Holdings Ltd. was involved in allowing Russians to bypass US sanctions and transfer money via the cryptocurrency exchange. Bloomberg News reported that the Justice Department’s national security division is assessing whether Binance or its officials acted unlawfully when it came to sanctions in relation to Russia’s
A financial analyst has warned that US-based crypto exchange, Coinbase, is facing an “existential risk” as the Securities and Exchange Commission (SEC) continues its crackdown on the crypto industry. This warning follows renewed concerns among Coinbase investors that tokens listed on the exchange could be considered securities under SEC rules, which would bring a host
Democratic Senator Elizabeth Warren plans to reintroduce a crypto bill with the aim of cracking down on money laundering and terrorist financing. During a Senate Armed Services Committee hearing, Warren announced that she would reintroduce the Digital Asset Anti-Money Laundering Act. The Purpose of the Bill The Digital Asset Anti-Money Laundering Act seeks to ensure
Several major media outlets, including The New York Times, The Financial Times, and Bloomberg, have requested access to a list containing the names of approximately 9 million FTX customers and creditors who lost their money when the exchange filed for bankruptcy in November 2020. While transparency is typically beneficial in legal situations, concerns have been
Robert F. Kennedy Jr., a Democratic presidential candidate, recently took to Twitter to voice his opinions on cryptocurrency regulation. He criticized the Biden Administration’s renewed call to propose a 30 percent tax on crypto-mining, calling it a “bad idea.” Kennedy believes that cryptocurrencies, led by bitcoin, are a major innovation engine. It would be a
The US Securities and Exchange Commission (SEC) has been cracking down on crypto companies lately, but according to an editorial by Bloomberg, this could be beneficial to the industry in the long run. The editors of Bloomberg suggest that the crackdown represents an opportunity for crypto to gain mainstream adoption and acceptance, which is necessary
The White House’s Council of Economic Advisers has proposed taxing cryptocurrency miners to pay for the costs that are inflicted on the environment and local communities. In a blog post published on Tuesday, the council noted that the electricity used in crypto-mining was similar to what is used to power all of the country’s home
The Blockchain Association, one of the largest cryptocurrency lobbying groups, has announced that it will move its resources out of New York to concentrate on federal policy. The CEO of the organization, Kristin Smith, has stated that the group will continue to hire full-time staff in Washington D.C. to promote its mission of advancing the