Security

Fred Rispoli’s concern over XRP’s legal status highlights potential regulatory inconsistencies, suggesting it could be deemed a security in California but not in New York. Despite Judge Phyllis Hamilton dismissing several claims against Ripple in the Zakinov lawsuit, including allegations of securities law violations, the debate over whether XRP qualifies as a security remains unsettled. Prominent legal expert Fred Rispoli has raised a significant concern about XRP’s legal status, suggesting the possibility that the coin could be classified as a…

On June 20, Ripple Labs Inc. secured a significant win in the federal class action with Judge Phyllis J. Hamilton granting summary judgment to dismiss both federal and state class claims that XRP was sold as an unregistered security. Despite the dismissal of the class action claims, the court left the question of whether XRP is a security to be decided by a jury, based on the Howey test’s criteria. On June 20, Ripple Labs Inc. achieved a significant victory…

Ripple Labs has tapped a procedure win regarding a Class Action lawsuit it is facing in California. The case centers around the classification of XRP as a security, a suit that may form a crucial precedence. American technology company, Ripple Labs Inc. has been granted procedural victory in its ongoing case with the US Securities and Exchange Commission (SEC). The next phase of the case will be sorted at a jury trial, where clarity on XRP’s security status will be…

The post Ripple Wins Big in Class Action Suit, But XRP Security Decision Still Pending appeared first on Coinpedia Fintech News The war between Ripple and the SEC just got hotter! In a recent development, the U.S. District Court for the Northern District of California dismissed several major claims in a class action lawsuit against Ripple, providing a procedural victory for the company.  Judge Phyllis Hamilton granted Ripple’s motion for summary judgment on federal class claims for unregistered and state…

Blockchain security firm CertiK has identified itself as the security researcher Kraken is claiming stole nearly $3 million worth of digital assets.  Kraken suffered a bug attack less than two weeks ago, losing nearly $3 million. At the time, the cryptocurrency exchange stated it was treating the incident as a criminal case and would coordinate with law enforcement agencies.  The Kraken Attack  On June 9, cryptocurrency exchange Kraken revealed it had suffered an exploit that saw the platform lose $3…

Ternoa launches zkEVM+ for enhanced digital asset security on Ethereum. Collaboration with Polygon CDK integrates advanced privacy and security features. According to today’s Medium update, Ternoa is set to launch zkEVM+, a Layer 2 solution on Ethereum focused on security and privacy, built using Polygon CDK. This new launch follows their successful 2023 release of a decentralized privacy stack available as a Polkadot SDK Layer 1 chain. Furthermore, a recent tweet by Polygon, aggregated by Polygon Labs, announced that Ternoa’s…

The post OKX Takes Action After Multi-Million Dollar Security Breach appeared first on Coinpedia Fintech News Cryptocurrency exchange OKX, with the help of its security partner SlowMist, is studying a large-scale security incident in which unauthorised persons stole two users’ accounts through an SMS attack or phishing on June 9.  Initially discovered by the SlowMist founder, the leak entailed generating a new API key with the privileges of taking and trading. However, the amount that was embezzled is thought to…

George Town, Grand Cayman, June 11th, 2024, Chainwire Binance Labs, the venture capital and incubation arm of Binance, has invested in Zircuit, a zero-knowledge rollup with AI-enabled sequencer-level security. Zircuit is a new Layer 2 (L2) network that introduces a novel approach to on-chain security. The network safeguards users with sequencer-level security and built-in, automated AI mechanisms that guard against smart contract exploits and malicious actors. The network’s hybrid architecture, which combines battle-tested rollup infrastructure with zero-knowledge proofs, results in…

Tel Aviv, Israel, June 7th, 2024, Chainwire Obol Labs is a software development team at the forefront of blockchain security, pioneering Distributed Validator Technology (DVT) for the Ethereum network. Their mission is to build shared web3 technologies for infrastructure operators, creating a trust-minimized and credibly neutral infrastructure layer for web3. Sayfer, a leading blockchain security firm, recently joined forces with Obol. This strategic partnership leveraged Sayfer's expertise in dApp and API security to conduct rigorous assessments of Obol's infrastructure, ensuring…