Binance

Major crypto exchange Binance is prepared to set up a unit of experts to aid Twitter's crypto and blockchain-focused ventures. News of this emerged via a report on Oct 28 not long after Tesla billionaire Elon Musk completed the controversial, high-profile Twitter deal.  Musk Finalizes Twitter Deal Binance’s new team will probe into the best ways to deal with Twitter’s drawbacks using blockchain technology. These include the abundance of bots on the platform, Musk’s single greatest issue with Twitter, and…

Binance is on the road to uncovering the identity of the hacker behind the Oct 7 BNB cross-chain bridge attack. CEO of the leading exchange ChangPeng Zhao revealed this in a recent interview with news outlet CNBC’s “Squawk Box Europe.” Binance Enlists Law Enforcement Personnel Changpeng Zhao stated that the exchange has been working alongside law enforcement agents globally since the attack. CZ explained that the platform is collaborating with the relevant authorities to “chase the bad players.” This, CZ…

With many crypto industry firms struggling through the bear market, the world’s largest digital asset exchange has offered to lend a hand. Binance Pool has announced a $500 million lending project to help support struggling crypto miners, helping keep the ecosystem afloat. According to Binance’s official announcement on Thursday, Binance’s pool will support both crypto miners and “digital infrastructure providers.”  Loans to such firms will be available for an 18 to a 24-month term, with interest rates ranging from 5%…

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…

In a Monday update, leading exchange Binance revealed that it had burned $1.8M worth of  Terra Classic token trading fees.  The move came as a response to a community proposal from September and aimed at shedding some of the token supply.  Binance Completes the First Burn CEO Changpeng Zhao informed users that the company had completed the first LUNC burn via a post on Twitter. The exchange had sent about 5.5 million LUNC tokens worth 1,863,213.47 Tether (USDT) to the…

Coinberry – a Toronto-based cryptocurrency exchange – recently disclosed losing 120 BTC to customers in a lawsuit targeting the perpetrators.  One target of the lawsuit is Binance, an exchange that Coinberry alleges helped launder some of the stolen funds.  As reported by the Financial Post, the loss had never been revealed until Coinberry’s lawsuit was filed in June. The lawsuit explains that customers stole Bitcoin from Coinberry in 2020 by exploiting a software bug exploiting interac e-transfers.  Users could e-transfer…

Samson Mow – a popular Bitcoin advocate and developer – recently commented on Binance’s decision to remove USDC trading from its platform.  He called it “the beginning of the end for USDC,” predicting that it will drastically reduce the coin’s usage and market cap.  How Binance Can Steal Circle’s Reserves In a Twitter thread on Wednesday, Mow dismissed attempts from certain industry leaders to place a “positive spin” latest move.  “You can say it’s good UX for USDC users, but…

The Binance security team is working with law enforcement to track the culprits.   Major crypto exchange Binance has identified two suspect addresses in the frontend exploit the KyberSwap Network suffered on Thursday. Around 3 pm on the first of this month, the Kyber team noticed some unusual activity in its front end. Further investigation revealed it to be a malicious code in the decentralized exchange’s Google Tag Manager (GTM). Bad actors had used this to hack into the platform,…

Major crypto exchange Binance will halt operations involving Ether (ETH) and ERC-20 tokens during the Ethereum network’s forthcoming upgrades, according to an official release. Binance cited the possibility of a hard fork and explained that the move is to ensure the safety of user funds in such a scenario. Binance to Close Withdrawals and Deposits to Protect Customers Ethereum is set to carry out its transition to the proof-of-stake Beacon chain in September. This event, dubbed the Merge, has seen…