Author: Rochelle Stanton
High Court of England and Wales Orders Oasis to Reclaim Stolen Funds Oasis, the decentralized finance (DeFi) platform, has successfully retrieved assets linked to the $140 million exploit of the Wormhole bridge last year. The platform used its own multi-signature wallet software, which the hacker had deposited funds into, Oasis to recover the stolen crypto. Following a court order from the High Court of England and Wales on February 21, Oasis exploited a vulnerability in the design of the admin multisig access to seize the funds. The funds were then returned to an authorized third party. Oasis has stressed that…
Binance, the world’s largest cryptocurrency exchange, has recently launched its Airdrop Portal, a platform that offers users a complete overview of all the airdrops supported by Binance. The Airdrop Portal is a one-stop platform that enables users to keep themselves informed on the latest developments in ongoing airdrops. Airdrops are a popular marketing tool used by blockchain projects to distribute tokens to users for free or in exchange for performing certain actions. By using the Airdrop Portal, users can stay informed about the latest airdrops and avoid missing out on potential rewards. Binance’s Ongoing Commitment to Innovation in the Cryptocurrency…
In a major development for the Binance USD (BUSD) saga, Charles Cascarilla, CEO of Paxos, has announced that his company is actively in discussions with the U.S. Securities and Exchange Commission (SEC) regarding the recent restrictions on the issuance of BUSD. Paxos, which was recently ordered by the New York Department of Financial Services to cease BUSD issuance, disagrees with the SEC’s view that BUSD is a security under federal securities law. Cascarilla confirmed in an internal communication that the company plans to defend its position in court through litigation. Paxos CEO’s Constructive Discussions with the SEC Paxos CEO According…
The CEO of EminiFX.com, Eddy Alexandre, who is Haitian, is reportedly set to plead guilty to charges of running a Ponzi scheme that allegedly collected over $59 million. Alexandre is the founder, president, and sole owner of EminiFX, a company that promised investors they could make substantial profits by investing in cryptocurrency and forex markets. However, according to a complaint filed in the Southern District of New York, the profits investors believed they were making were not real. The Appeal of EminiFX Despite the charges, many investors have come forward to defend Alexandre. They were drawn to EminiFX’s online investment…
The current market dynamics have led to a bullish run for Ethereum (ETH), with supply-demand playing a key role in bidding the cryptocurrency higher. The transition to Proof-of-Stake (PoS) has resulted in a decrease of $40 million in the altcoin’s circulating supply, leading to a surge in its price. This article delves into the deflationary trends driving the current price rally and explores the 2023 outlook for ETH, including Ethereum Classic and Ethereum 2.0. Deflationary Trends for Ethereum Following the Merge, the issuance of ETH has been steadily decreasing, making it a deflationary cryptocurrency. This event marked the transition from…
North Korea-Linked Crypto Assets Frozen by Binance and Huobi: Elliptic Blockchain analytics firm Elliptic has reported that it has collaborated with leading cryptocurrency exchanges Binance and Huobi to freeze cryptocurrencies worth around $1.4 million linked to North Korea. These stolen funds were dormant until recently and originated from the June 2022 hack of Harmony’s Horizon Bridge. In this article, we explore this incident and its implications for the cryptocurrency industry. Binance and Huobi Freeze North Korea-Linked Crypto Assets Elliptic announced on Tuesday that it has worked with Binance and Huobi to freeze “Lazarus Group hack proceeds.” The two crypto exchanges…
Since 2009, Bitcoin has been the world’s most popular cryptocurrency. With a decentralized system and lack of central authority, Bitcoin ushered in an era of digital transactions that bypass traditional financial institutions. But as its fame grows, one question often asked is, “how many bitcoins are there?” This article will examine the current bitcoin supply. Introduction to Bitcoin Supply To understand how bitcoin is created, we first must understand its creation process. Unlike traditional fiat currency, Bitcoin isn’t printed or minted by a central authority but rather created through mining – solving complex mathematical equations on the blockchain that verify…