Blockchain

Trung Nguyen, the CEO, and co-founder of Axie Infinity is facing allegations of insider trading after recent data shows he transferred $3 million worth of tokens shortly before disclosing the March hack. At the time, the attack saw the P2E blockchain game lose $622 million worth of assets. Sky Mavis, the game studio behind Axie Infinity, debunks the accusations, claiming the founders transferred the assets to create more flexibility in response to the Ethereum sidechain attack. Moreover, Nguyen says the…

In recent days, the Solana network has been the victim of a widespread attack that has affected over 8000 user accounts. So far, the culprit behind the hack has drained wallets of more than $8M worth of crypto assets.  According to the Solana team, it appears only Slope wallets have been susceptible to the hacks so far. No Bugs On Solana’s End Solana’s security personnel claims to have identified the origin of the breach. In an update that went up…

American jewelry retailer Tiffany & Co. has partnered with blockchain firm Chain to offer CryptoPunk holders exclusive necklaces. The high-end jewelry brand revealed this news via a tweet on July 31. [embed]https://twitter.com/TiffanyAndCo/status/1553811244536270852[/embed] NFTiff is a collection of 250 digital passes, which the firm is offering CryptoPunk holders. Each pass has a price tag of 30 Ether (ETH), and buyers can redeem their passes to get a custom-designed pendant that resembles their CryptoPunk. Additionally, Tiffany & Co. will offer buyers an…

The acquisition deal between Thai-based crypto exchange Bitkub and SCB X is still in the due diligence stage. Bitkub Capital Group Holdings CEO Jirayut Srupsrisopa revealed this news during an interview with Bloomberg TV on August 1. In the interview, Srupsrisopa said, I can’t mention about the deal publicly yet because it’s under the due-diligence process. But everything is still in the same timeline. That’s all I can mention about the deal. SCB X, the parent company of Thailand’s oldest…

Citing plans for a hitch-free launch, the Cardano team shared news of yet another delay to the long-anticipated Cardano Vasil hard fork via a Youtube video yesterday. Not the First Delay The upcoming hard fork is the most significant update to the network users have seen since September 2021’s Alonzo hard fork. Input Output Global, the Cardano network’s research and development organization has tagged the Vasil hard fork a “game changer.” Reportedly, the upgrade will take Cardano’s speed and scalability…

On Wednesday, the Harmony blockchain team shared a tentative reimbursement strategy for those affected by June’s Horizon Bridge attack . As the hack robbed the platform of about $99M, the devs intend to mint almost 5 billion native ONE tokens to compensate victims.  Details of Minting Proposal Harmony published a blog post sharing the proposal with its community members.  The Harmony team has worked tirelessly to brainstorm and develop paths towards reimbursing those who were impacted by the recent hack…

American billionaire investor Mike Novogratz has acknowledged that he was wrong about the size of leverage in the crypto space. During the Bloomberg Crypto Summit on July 19, Novogratz said the recent crypto crash is a full-fledged credit crisis. He added that this crisis has hurt confidence in crypto. [embed]https://www.youtube.com/watch?v=DtFucHueMG8[/embed] Novogratz, who currently serves as the founder and CEO of Galaxy Digital, said: What I don’t think people expected was the magnitude of losses that would show up in professional…

The Federal Reserve Board of the United States recently surveyed 80 banks on their future financial and investment expectations. A majority of respondents displayed little interest in investing in distributed ledger technology (DLT) in the near term. Just a quarter of surveyed banks called DLT-related investment a “medium” or “high” priority within the next 2 years. Meanwhile, 22% called it “low priority,” while 33% said it was no priority at all. On a 2 to 5-year timeframe, the results were…

The Dubai Virtual Assets Regulators Authority (VARA) has granted crypto exchange OKX, formerly OKEx, a provisional virtual assets license. OKX announced this bullish news through a press release on July 14. The license would allow the Seychelles-based exchange to offer select services to qualified investors in the United Arab Emirates (UAE). According to the press release, the license will also allow OKX to build a regional hub at the Dubai World Trade Center. This hub would go a long way…