Check out this week’s Bad Crypto podcast. Bitcoin ends the week about 6 percent up, still beneath $11,000 but having set a record of 63 days above $10,000. Some traders are starting to find the digital coin’s stability boring. They’re looking for more excitement in altcoins and DeFi tokens. OMG network recently jumped more than […]
Continue Reading
They’ve already gotten the police involved. As the fallout from the hack on its platform continues, KuCoin said it has identified suspects and have now officially involved law enforcement in the investigation. KuCoin CEO Johnny Lyu tweeted on Oct. 3 that the exchange now has substantial proof that identifies who hacked the service on Sept. […]
Continue Reading
Bitcoin futures and options sentiment held steady despite the BitMEX and Kucoin news, signaling a $12K bull run is near. BitMEX used to be the indisputable leader of Bitcoin (BTC) futures trading and if something similar to yesterday’s civil enforcement action were to happen back in 2015-2018 the crypto markets would have completely collapsed. Regardless […]
Continue Reading
The highest number of exchanges defying regulatory norms are in Europe More than half of all exchanges worldwide have weak KYC identification protocols — with exchanges in Europe, the U.S. and U.K. among the worst offenders, according to a new study by blockchain analysis firm CipherTrace CipherTrace analyzed more than 800 decentralized, centralized, and automated […]
Continue Reading
The KuCoin hack is the first high-profile case of a decentralized exchange being used to launder stolen funds. Cybercriminals have continued to come up with new, innovative attack vectors that a lot of prominent crypto platforms are still falling prey to. For example, Johnny Lyu, the CEO of Singapore-based cryptocurrency exchange KuCoin, stated on Sept. […]
Continue Reading
But it remains unclear where KuCoin is actually headquartered. Chainalysis, a major global cryptocurrency analytics firm, is expanding its presence worldwide to embrace more jurisdictions for its crypto investigations. Providing services to federal agencies like the Internal Revenue Service and the FBI, Chainalysis is launching new offices in Singapore and Tokyo to better service customers […]
Continue Reading
Eminence, an unreleased project being built by Yearn’s Andre Cronje has been drained of $15 million. The decentralized finance (DeFi) community’s insatiable appetite for unaudited code has once again ended in tears and the loss of millions. Eminence, an unfinished “economy for a gaming multiverse” being built by Yearn Finance’s Andre ‘I test in production’ […]
Continue Reading
Are the KuCoin hackers DeFi noobs? After a major hack at KuCoin cryptocurrency exchange, cybercriminals continue to move stolen crypto to decentralized exchanges, or DEXes. According to data from crypto transaction tracking service Whale Alert, KuCoin hackers keep sending thousands of dollars worth of Synthetix Network Token (SNX) to Uniswap — the largest decentralized finance […]
Continue Reading
Bitcoin tests $11,000 on Donald Trump’s tax revelations but KuCoin’s $150 million may yet put a dampener on bulls. Bitcoin (BTC) starts the week pushing for $11,000 as ranging behavior continues, but futures gap danger remains. Cointelegraph takes a look at five factors that could shape Bitcoin price action in the coming week. Trump tax […]
Continue Reading
He isn’t surprised attacks happen. Crypto exchange security is once again in the news after hackers breached KuCoin. But this shouldn’t surprise people as exchanges are vulnerable by design, according to ByBit CEO Ben Zhou. Zhou told Cointelegraph that exchanges act as a single point of failure. As a centralized web application, exchanges are susceptible […]
Continue Reading