The exploit took place due to a smart contract vulnerability that saw hundreds of users other than the hacker also get involved, taking away as much as they can by simply copy-pasting the transaction data used by the initial hacker and changing the wallet address to theirs. The event was later deemed as a decentralized robbery by many due to…
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets to Dodge Taxes The National…
The cryptocurrency ecosystem has been rocked by a widespread exploit targeting Solana wallets that have been ongoing since Aug. 3. Phantom and Slope, two Solana-based wallet services, initially flagged the attack on their social media platforms, alongside a host of cryptocurrency influencers, blockchain analytic and security firms and victims of the hack as it continued to unfold. A handful of…
The European Union’s securities regulator continues to strengthen its focus on cryptocurrency regulation, initiating a move to implement increased scrutiny of crypto transactions. The European Securities and Markets Authority (ESMA) on Tuesday issued a public tender document aiming to collect additional information about trading data on crypto transactions. The regulator is specifically looking for “crypto off-chain data” or crypto-related transactions…
In brief Crypto and esports industry firms have engaged in sponsorship deals plus collaborated on NFT and gaming projects and more. Decrypt spoke with leaders from crypto firms and notable esports teams to explore the reasons for the increasing convergence and what’s ahead. When cryptocurrency exchange FTX announced a 10-year, $210 million sponsorship and naming rights agreement with leading esports…
The ability to save up is an essential tool for self-regulation and planning for the future, but when inflation becomes uncontrollable, those who put in their efforts to delay gratification get punished for their choice. On the other hand, Bitcoin (BTC) does the opposite, according to clinical psychologist Dr. Jordan Peterson. In the show called What is Money?, Peterson joined…
This week, the Chamber of Deputies in Brazil might approve a cryptocurrency bill introduced earlier this year. According to the leader of the Federal Government in the Chamber, Ricardo Barros, the bill is set to be discussed, but there are still no reports on a possible vote as the Chamber is set to also discuss other time-sensitive bills. Cryptocurrency Bill…
Robinhood, the beleaguered stock-trading app whose gamified user interface brought crypto and “meme-stock” trading into the mainstream last year, is laying off 23 percent of its staff, the company announced Tuesday. The decline in the value of cryptocurrencies, along with inflation, were among the causes, the company said. Robinhood cuts staff, again It’s the second time in almost as many…
As the broader crypto market trades sideways on Wednesday morning, several decentralized finance (DeFi) tokens are outperforming the rest of the pack by a hefty margin. These include LDO, the native token behind the liquid staking platform Lido Finance, which is up 17.6% over the day. LDO hit a daily high of $2.45 on Tuesday night but has slipped to…
With Solana (SOL) hitting the headlines for succumbing to a hack on Aug. 3, prominent crypto CEOs — including Binance’s Changpeng “CZ” Zhao, KuCoin’s Johnny Lyu and OKX’s Jay Hao — recommended SOL investors move their holdings over to their own exchanges as an immediate security measure. Numerous blockchain investigators and crypto investors flagged an alleged widespread private key compromise,…
