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…
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KuCoin reported at least $129M of the affected funds are ‘safe.’ Following news of a security breach resulting in the loss of more than $200 million worth of tokens on KuCoin, many projects quickly reacted to prevent users’ holdings from being moved off to other exchanges. Speaking to Cointelegraph, KuCoin Global CEO Johnny Lyu said…
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After the $150 million KuCoin hack, traders appear unworried that open market sales by the hacker will drop Ethereum price. Analysts say that the unknown hacker behind the KuCoin breach is selling the stolen ERC-20 tokens on Uniswap. Although selling tokens on the Ethereum-based decentralized exchange allows the hacker to obtain Ether (ETH), it doesn’t…
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KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed. In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private…
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The rise of crypto-related crimes and money laundering cases is the result of the increasing mass crypto adoption. The modern world has become too small for comfort. The truth is that technological advancement is a double-edged sword, which has the potential to enhance human lives drastically at many levels and disrupt them in the blink…
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Why we need regulatory frameworks in the crypto space, with a focus on regulating the financial aspects of cryptocurrency-based operations. When Malta set out to provide a regulatory framework for the cryptocurrency sector, policymakers and advisers recognized how blockchain, distributed ledger technology and smart contracts, as well as related technologies, imposed new challenges to providing…
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bZX made all the right moves, but it wasn’t enough. The Fulcrum DeFi protocol developed by bZX, which had recently relaunched after a series of hacks in February forced the team to regroup, was hacked once again to the tune of about $8 million. According to the incident disclosure by bZX, the culprit is one…
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Taking account of more aggressive crypto tracking measures and what they mean for future government adoption of blockchain. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note One of the most persistent myths about Bitcoin is its supposed anonymity. More properly termed pseudonymity,…
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Before we run to build more DeFi products, let’s first walk to improving the underlying infrastructure. Decentralized finance has become the fastest-growing sector of the blockchain industry. Today, there are over 200 projects working on a wide variety of decentralized financial products and services. That number continues to increase every day as new DeFi-related projects…
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There is a nationwide alert for future ransomware campaigns against Chilean companies. Banco Estado, the only public bank in Chile and one of the three largest in the country, had to shut down its nationwide operations on Monday due to a cyberattack that turned out to be a ransomware launched by REvil. According to a…
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