News

Mango Markets – a Solana-based trading platform – suffered a $117 million DeFi hack on Friday due to a price manipulation exploit. The blockchain security firm, Certik, has broken down how the hack was executed.  According to a brief provided by the company, the attacker manipulated the price of MNGO – the platform’s native token and collateral asset. First, the attacker funded one of his accounts with about 5 million USDC. Those funds helped him sell 488,302,109  MNGO worth of…

BNY Mellon – the oldest bank in the United States – just became the first to begin offering crypto custody services for its clients.  The custodian will now protect users’ cryptocurrencies alongside their traditional investments on its platform.  A Bank Adopts Bitcoin According to the Wall Street Journal, the bank partnered with the established crypto custodian Fireblocks to offer the service. The latter serves institutional clients and has hired former SEC chairman Jay Clayton as an advisor. The service is…

Earlier today, yield farming platform TempleDAO suffered losses scaling $2 million after a hacker breached the protocol. This attack is the latest in a series of exploits across the DeFi industry over the past few weeks.  Almost 2000 ETH Stolen Twitter user spreekaway first caught sight of the attack via on-chain data which they shared in a tweet. Blockchain security company Peckshield later confirmed the news on their Twitter page. According to the firm’s report, the attacker funded the exploit…

The European Union has taken a major step toward the regulation of cryptocurrencies within the region. In a recent vote, the European Parliament Committee on Economic and Monetary Affairs (ECON) showed almost unanimous support for forthcoming crypto regulation policies. 28 Members Vote in Support and 1 Against Committee member, Stefan Berger revealed in a Twitter post that the ECON has approved the Markets in Crypto-Assets framework, MiCA. Berger described the move as “good news” in a tweet announcing the vote.…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $944 billion. Bitcoin has increased by nearly 2% this week. Ethereum gained almost 3% over the past seven days. XRP is up by nearly 16% this past week. Almost all altcoins are trading in the green, with few exceptions. The DeFi sector dropped the total value protocols (TVL) to around $17 billion. Crypto Trends…

In a Friday blog post, Bitmex co-creator Arthur Hayes shared his thoughts on how fiscal authorities will respond to unfavorable economic conditions. This is after the Bank of England revealed it would buy an unlimited amount of government bonds to palliate the effect of the current inflation. Indeed, the entrepreneur believes central banks globally will soon turn to money printing as a solution to the currently worsening inflation. He is also certain this will drive up the price of digital…

U.S. officials charged a man in California on Friday for unlawful importation of drugs and conspiracy to commit money laundering. He allegedly sold those counterfeit drugs for Bitcoin.  As detailed in a press release by the Department of Justice, 27-year-old John Khuu was brought to Federal court for his charges on Thursday.  He allegedly serviced customers across the United States with controlled substances on dark web markets, including counterfeit pharmaceutical pills. Khuu and his co-conspirators would typically have his customers…

The BNB smart chain is back online after the team put activities on hold due to a recent hack on its cross-chain bridge. An official update from the network noted that validators were verifying their status and also upgrading community infrastructure. In a tweet, Binance founder Changpeng Zhao placed the losses from the exploit at an estimated $100M worth of assets.  Binance Puts Operations On Hold The network initially announced that they were halting operations late on Thursday due to…

Per a Thursday release from a local outlet, the court has dismissed the arrest warrant against TFL executive Yoo Mo. The executive received the warrant on account of his role as head of the Terraform Labs’ business team. Judge Hong Jin-Pyo of the Seoul Southern District Court dismissed the charges but did not extend this treatment to TFL founder Kwon Do-Hyeong.  Judge Deems Yoo Moo’s Arrest Unimportant, Dismisses Warrant A few weeks ago, Seoul’s Southern District Prosecutors Office reopened the…