The attacker who drained $46 million from KyberSwap relied on a “complex and carefully engineered smart contract exploit” to carry out the attack, according to a social media thread by Ambient exchange founder Doug Colkitt. Colkitt labeled the exploit an “infinite money glitch.” According to him, the attacker took advantage of a unique implementation of KyberSwap’s concentrated liquidity feature to…
Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital asset space, including stablecoins. Speaking with Cointelegraph at the North American Blockchain Summit on Nov. 16, Consensys senior counsel and director of global regulatory matters Bill Hughes said it was “an…
Bitcoin (BTC) may not see a $40,000 BTC price reclaim despite increasing excitement over a spot exchange-traded fund (ETF). In recent analysis, crypto market participants have started to reconsider just how bullish the ETF narrative really is for BTC price action. Trader: “Not sure” BTC price will reach $42,000 The dust continues to settle on the U.S. versus Binance regulatory…
BTC futures and options held firm despite a wave of negative news, and data shows traders targeting $40,000. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-traders-target-40-k-btc-price-now-that-binance-resolved
In this era of digital and remote business operations, it’s not uncommon to hear that choosing the location of a company’s headquarters isn’t as important a decision as it used to be. However, if an entrepreneur is launching a decentralized finance company, they’d be wise to set that advice aside. Launching in a relatively young industry with unsettled regulatory environments…
U.S. prosecutors are pushing for CZ to stay in the country, saying they “would not be able to secure his return” if he’s allowed back to Dubai. Source: https://cointelegraph.com/app/public/index.php/news/cz-a-flight-risk-should-stay-in-us-doj
Crypto exchange HTX, formerly Huobi Global, will resume deposits and withdrawals within 24 hours after suffering a $13.6 million exploit on Nov. 22. According to its official announcement, the exchange promised to “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds.” In addition, developers wrote, “the amount of funds lost by Huobi…
CoinFLEX creditors claim former CEO Mark Lamb and the OPNX exchange “misappropriated” their assets in a court filing. Source: https://cointelegraph.com/app/public/index.php/news/coin-flex-creditors-unsatisfied-with-restructuring-process-to-opnx
“I literally had two coffees and a beer, and I had this eureka moment at four in the morning,” Solana co-founder Anatoly Yakovenko recalls as he leans back thoughtfully. Speaking to Cointelegraph at the annual Breakpoint conference in Amsterdam, the co-founder recounts a late night brainwave of a “hyper-optimized, fast as possible” smart contract blockchain protocol. “The use case that I…
The conventional wisdom of the cryptoverse is that there is a boom-and-bust cycle to the blockchain and cryptocurrency industry. This cycle is led by the “King of Cryptos,” Bitcoin. Bitcoin (BTC) is programmatically set to have a halving cycle roughly every four years, which cuts the supply of new coins awarded to miners in half. The halving sends a supply…
