Alexey Pertsev, the developer of the Ethereum blender Tornado Cash, was found guilty of money laundering by a Dutch court and sentenced to 64 months in prison.A Dutch judge at the s-Hertogenbosch court said Tornado Cash was “for criminals” and “fully supports criminal users.” As a result, the developer was found guilty of laundering $1.2 billion in illegal assets.The court said that between July 9, 2019 and August 10, 2022, Pertsev had made a “habit of committing money laundering” with Tornado Cash and should have been more suspicious about the criminal origin of transactions on the platform.His lawyers have 14…
Author: Crypto Flexs
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Posted 1 minute ago In ~ Zero-knowledge project Hylé has raised $2.6 million in new funding led by venture firm Framework Ventures.Cherry Crypto, Fabric Ventures, First Capital, and Heartcore Capital also participated in this round. To date, Hylé’s total initial funding is $3.4 million, and it has generated an additional $1.5 million in revenue from its NFT project briqNFT, the company’s co-founder Sylve Chevet told The Block. Hylé’s board of directors will not change. Hylé builds the Hylé Network using zero-knowledge proofs (ZKP) for scalability and privacy. According to a release shared with The Block, Hylé wants to become a…
Coinbase, the world’s second-largest exchange by trading volume, suffered a large-scale outage on May 14.Coinbase announced a system-wide outage lasting three hours at 4:19 AM UTC. According to its status page, the exchange was eventually fully restored by 7:34 AM (UTC).X Exchange specified in post:source: coinbaseThe exact cause of the service outage is not yet known, but Coinbase said it will continue to investigate the matter.According to CoinMarketCap data, Coinbase is the second-largest exchange in the world with 24-hour trading volume of $2.4 billion, compared to market leader Binance’s $18.7 billion.source: CoinMarketCapRelated: WBTC thieves return $71 million worth of stolen…
CertiK discovered and patched a major security flaw in the Aptos network’s Wormhole bridge, potentially saving $5 million. The vulnerability allowed attackers to create fake token transfers, but CertiK’s quick action ensured that users’ funds were protected. Aptos’ Wormhole Bridge $5 million security flaw discovered CertiK discovered a flaw in Aptos’ Wormhole bridge and reported it to the Wormhole team. The issue was caused by incorrect implementation of the ‘public(friend)’ and ‘entry’ qualifiers in the MOVE programming language. The ‘public(friend)’ modifier allows the function to be called by other people within the same module or by a specified external account.…
OKX X Layer discontinues swap productIn a recent announcement, OKX The suspension will take effect from May 30, 2024. X-layer swap functions, including trading, adding liquidity, and removing liquidity, will be gradually discontinued.Due to product discontinuation, functions such as exchange, liquidity removal, and transaction history inquiry within the Swap product will no longer be available. Users are encouraged to remove existing liquidity via X-layer swaps prior to the outage date.Impact on UsersUsers are encouraged to remove liquidity prior to the suspension date. If liquidity is not removed within the specified period, the assets may be…
Changpeng Zhao, the enigmatic founder of cryptocurrency giant Binance, has sparked a storm of speculation with a recent social media post hinting at a potential career change. After a legal battle with the U.S. Department of Justice that resulted in a surprisingly lenient ruling, CZ, as it is known in the cryptocurrency world, may be trading spreadsheets for scribbles. Binance in the hot seat The past few months have been a turbulent time for Binance. The exchange, which once dominated the cryptocurrency market with massive trading volume, has become embroiled in a legal dispute with U.S. authorities. Although the specifics…
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Ethereum ETH -2.30% Co-founder Vitalik Buterin proposed new Ethereum improvement proposals. EIP-7706 proposes a new gas category for transaction call data.Ethereum transactions currently involve two main types of gas: One is for execution, which deals with the computational effort required to process a transaction, and the other is for storage, which is the cost associated with storing the data as a “blob.”Buterin’s proposal recommends setting up a third type of gas specifically for call data, a segment of an Ethereum transaction that carries the data sent to a smart contract when a function is called.This latest proposal was introduced just…
Last week, Jack Melnick, head of DeFi at Polygon (MATIC) Labs, announced that he was leaving the company. Melnick has now revealed his new role at Cosmos-based Berachain. Despite the move, Melnick insisted he maintains a positive outlook on Polygon. Another Polygon (MATIC) Labs executive joins. In recent months, the project has withstood an onslaught of key executives over competing projects, from president in November 2023 to head of business development in January 2024. Now the company’s former head of DeFi, Jack Melnick, has followed suit. He announced his departure last week. Melnick Announces New Role On Monday, May 13th,…
Chainlink’s LINK price is struggling to break above the $13.80 resistance. A break above the $13.00 support could lead the price to continue falling. Chainlink price is showing bearish signs below the $14.00 resistance level against the US dollar. The price is trading below the $13.60 level and the 100 simple moving average (4-hours). There is a major bearish trendline forming on the 4-hours chart of the LINK/USD pair with resistance near $13.50 (data source from Kraken). Breaking out of the $13.80 resistance area, the price could begin a significant rise. Chainlink (LINK) price turns red Over the past few…