Crypto bridge Nomad has recovered over $22.4 million of the $190 million-worth of Ethereum and Ethereum-based tokens stolen earlier this week. Earlier this week, hackers pinched funds in Ethereum, USDC, DAI, WBTC, and CQT worth $190 million from Nomad, a project that allows users to move assets between blockchains. The bridge said it was working with “its community, law enforcement…
The crypto industry faced headwinds in recent months as May’s collapse of the Terra ecosystem took its toll. In June and July, major crypto lending platforms (including Celsius, BlockFi, Voyager and Vauld) took drastic measures in the wake of “extreme market conditions.” June’s leverage-related fallout for crypto lenders continued into July but did not extend to cryptocurrencies, which rallied. ETH…
India’s Directorate of Enforcement, or ED, has announced it froze roughly $8.1 million in funds and conducted a search connected to cryptocurrency exchange WazirX as part of an investigation into instant personal loan fraud. In a Friday announcement, the Directorate of Enforcement alleged WazirX facilitated transactions by unnamed fintech firms “to purchase crypto assets and then launder them abroad” as…
The 2022 bear market has been brutal as more than $2 trillion in value has been wiped away from the crypto economy. In addition to record values lost, the crypto winter has managed to break a number of popular bitcoin price models like the rainbow price chart and Plan B’s infamous stock-to-flow model. Moreover, since May 11, 2022, the well…
A group of five lawmakers from the United States House of Representatives has requested data on the diversity and inclusion practices of 20 major firms dealing with cryptocurrencies and Web3. In a Thursday notice, House Financial Services Committee chair Maxine Waters along with Representatives Joyce Beatty, Al Green, Bill Foster and Stephen Lynch penned a letter requesting U.S.-based crypto firms…
As nonfungible tokens (NFTs) are advertised as blockchain-based technologies, there are misconceptions on how they are stored according to two experts. They argued that technically, these tokens do not exist in the blockchain but are actually stored elsewhere. In a Cointelegraph interview, Jonathan Victor, the Web3 storage lead at Protocol Labs and Alex Salnikov, the co-founder of Rarible, discussed decentralized storage, the…
The United States Labor market added 528,000 jobs in July, much better than the 258,000 estimate. Wages saw growth of 5.2% year-over-year and 0.5% over the month. This suggests that inflation remains high and the U.S. Federal Reserve may continue with its rate hikes in the near future. After staying in close correlation with the U.S. equities markets for the…
India’s chief economic enforcement agency, the Enforcement Directorate (ED), announced Friday that they have frozen $8.14 million (64.67 Crore rupees) in assets from crypto exchange WazirX. The ED alleged that the exchange unlawfully broke currency exchange regulations. The Mumbai-based crypto exchange is India’s largest, with reported user figures exceeding 6 million, and over $5.3 million traded over the past 24…
Theta network was trading at its highest point in three months on Friday, as prices broke out of a key resistance level. Today’s move comes as crypto markets were mostly higher in the session, climbing 2.86% as of writing. Near protocol rose by 17%, also recording multi-month highs. Theta Network (THETA) Theta network (THETA) was one of Friday’s notable gainers,…
With the Bitcoin (BTC) price moving at a very steady pace during the crypto winter, the return on investment (ROI) on a new mining device seems like a shot in the dark. But a mining expert explained there may be hope for miners to make a comeback to profit. Phil Harvey, the CEO of crypto consultancy firm Sabre56, told Cointelegraph…
