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 $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Ronin Bridge Hack
Axie Infinity CEO Moved $3M in Tokens before Hack Disclosure
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…
3 years ago
Binance Reclaims $5.8 Million from the Ronin Bridge Hack
Binance has recovered $5.8 million worth of tokens stolen from Axie's Ronin Network late last month. In March, malicious hackers initially ripped off a total of about $600 million. This means more than 99% of the loot yet remains awol. Binance Shows Support The hack of Axie Infinity's Ronin Network last month resulted in a loss of about 173,000 ETH and 25.5 million USDC. CZ, the CEO of Binance, said on Friday that the hackers, "Lazarus Group" distributed the stolen…
3 years ago