Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost V1 and Defrost V2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and Avalanche (AVAX) tokens from the MetaMask wallets. Moments after a few users complained about the unusual loss of…
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign Messengers Banks in the Russian…
The momentary arrest of former FTX CEO Sam Bankman-Fried (SBF) can be attributed to the efforts taken by the crypto community to aid investigations and track down the whereabouts of the infamous entrepreneur. While SBF eventually escaped prison time via a $250 million bail bond, the community continues to monitor his every move publicly. Just three days after being released…
A strategist at global investment bank JPMorgan says crypto is effectively nonexistent as an asset class for most large institutional investors. “The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging,” he added. JPMorgan on Institutional Crypto Investing JPMorgan Asset Management’s head of institutional portfolio strategy, Jared Gross, discussed crypto…
The host of Mad Money, Jim Cramer, says he would not touch crypto in a million years. He called investors who own various altcoins idiots and urged the U.S. Securities and Exchange Commission (SEC) to do “a big sweep” on the crypto industry. Jim Cramer’s Crypto Warnings The host of CNBC’s Mad Money show, Jim Cramer, has issued more warnings…
People involved in financial tech, software programming, cyber security, and cryptocurrencies have been talking about the Lastpass data breach that was disclosed two days ago. The password management company detailed that a breach, committed earlier this year, allowed hackers to obtain a “backup of customer vault data.” Lastpass Reveals ‘Threat Actor Was Also Able to Copy a Backup of Customer…
Top Stories This Week SBF sent home after his parents put up their house to cover his astronomical bail bond Sam Bankman-Fried will spend the holidays with his family in Palo Alto, California, after his parents secured $250 million in bail funds with the equity in their home. Among the conditions of the bail are home detention, location monitoring and…
Crypto-based scams are constantly sweeping the nonfungible token (NFT) space; therefore, staying updated is the most significant way to prevent both new and existing NFT scams. Other than fraud, intense rivalry for newly minted NFTs may cause prices to rise and transaction fees to skyrocket, making them unaffordable for early supporters. Nonetheless, these issues have been solved by NFT providers…
Following FTX co-founder Sam Bankman-Fried’s arrest and the statements from his co-workers Gary Wang and Caroline Ellison, the spotlight has turned on the remaining executives who were part of the team’s inner circle. Another person people are curious about these days is Alameda Research’s ex-co-CEO Sam Trabucco. The 30-year-old executive left Alameda in Aug. 2022, but since Ellison detailed misconduct…
The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes. The loss represents the combined personal equity of 17 people in the space, with over 15 losing more than half of their fortunes since March. As a…
