News

As reported by Crypto Adventure, an unknown hacker exploited token-swapping network Poly to the tune of $600M on Tuesday. Many industry participants were shocked by the heist, the biggest ever hacking attack in the DeFi sector. However, in a stunning twist of events, the hacker has started returning some of the stolen hauls after Poly Network's appeal on Twitter. The attacker sent a message embedded in a crypto transaction on Wednesday, informing Poly Network that he was ready to return…

According to Coinmarketcap, there are over 11 thousand crypto assets. Although the number of crypto assets is increasing rapidly, very few are getting mainstream adoption, and others fail. According to a statistic, as of 2019, over 1000 crypto coins had failed. Generally, one factor that contributes to the failure or success of an asset is the level of popularity. The more popular the asset, the higher the investor's chance to consider it and vice versa are also true. Therefore, the…

BitMEX exchange has agreed to pay $100 million to settle the charges by the U.S. Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN) unit of the U.S. Treasury Department. The lawsuit arose from BitMEX unlawfully accepting customer funds to trade cryptos without registration. In addition to this, they failed to conduct customer due diligence. According to CFTC and FinCEN, this went on for six years with U.S. customers. What the Lawsuit Entailed The order found that…

The infrastructure bill is a US senate proposed bill that aims to spend over $1.2 trillion developing infrastructure. This bipartisan $1 trillion infrastructure bill results from the years of hard work to improve the American infrastructure systems.  It includes lump sum spending on developing roads, rails, power, environment, drinking water, airports, and many more. The main issue with this trillion-dollar bill is the way to fund the projects.  In a 2700 page document, the infrastructure bill contains new regulations that…

After 2009 when the first decentralized cryptocurrency, Bitcoin, was created by Satoshi Nakamoto, many other founders emerged and came up with new projects. These projects either sought to be better than Bitcoin or cover the niches in Bitcoin. Although cryptocurrencies are based on blockchain technology, many individuals are becoming more innovative in the industry. These founders come from various backgrounds including, development, economics, or the corporate world. Their backgrounds and experiences inspire them to develop unique ideas to solve real-world…

On Tuesday 10th August 2021, cross-chain Defi platform Poly network got hacked, with the alleged attackers draining more than $600 million on BinanceChain, Ethereum, and OxPolygon. This is the largest DeFi hack to date. According to Igor Igamberdiev, the leading cause of the attack is attributed to a cryptographic issue – although this is not usually the case. It can be likened to the Anyswap exploit, which led to $7.9 million's theft due to the hacker reversing the private key.…

The BTC bulls continued to cement higher support on Aug 10 as the price touched $46K following a slight correction to the $43.5K zone. The strength of the bitcoin comeback was evident after the BTCUSD pair rallied from lows of $42,855 to reclaim the $45K support.  The world’s first cryptocurrency extended its gains during the European session and logged an intraday high near $46,500 before losing upward momentum. BTC is currently consolidating gains at its price of $45,450, per data…

According to a post on Circle's website by Founder and CEO Jeremy Allaire, the USDC stablecoin has filed with the Securities and Exchange Commission to become a U.S. federally-chartered national commercial bank. This happens amid executives at Tether, its larger rival, facing a criminal probe by U.S. prosecutors. Though the firm officially announced its decision to become a bank in its August 9th blog post, their  S-4 filing to the SEC on August 6th insinuated its plans to become a…

What asset should I Invest in this year? The above question troubles every investor at some point in their investment life. It's the desire of an investor to put their money in assets that have excellent returns and the best prospects. However, in a financial world with many investment options, it could be hard to select the type of investment and precisely the asset to work with. Primarily, a crypto investor wants to find a sustainable asset performing well in…