On November 22, 2023, Huobi HTX, previously known as Huobi Global, experienced a serious security breach. The attack caused significant losses, initially estimated at $13.6 million, but later valued at approximately $30 million. This incident is yet another in a series of cybersecurity issues facing businesses. cryptocurrency exchange and related platforms. Following the attack, Huobi HTX issued a statement reassuring users about the security of their funds. The exchange pledged to fully compensate for losses incurred due to the attack and emphasized its commitment to the safety of user funds. Despite the significant losses, HTX said the incident had minimal…
Author: Crypto Flexs
Read More
Binance encouraged eligible users to convert their BUSD assets to other stablecoins before February 2024. The exchange added that Binance-Peg BUSD token withdrawals via the BNB Chain, Avalanche, Polygon, and Tron networks will be suspended in September. Deposits on these networks, including Ethereum, will continue until further notice. Following the SEC crackdown, the company previously exchanged $1 billion worth of BUSD for USDT and TUSD in its SAFU fund. Users with BUSD balances on Binance are advised to convert their holdings to another supported stablecoin or asset before February 2024. The August 31 announcement noted the gradual closure of BUSD-related…
RocketX’s APIs are equipped with robust anti-money laundering (AML) protocols to ensure multi-chain asset exchanges occur in a compliant manner. RocketX has released the beta phase of its developer application programming interface (API) that simplifies the deployment of multichain decentralized applications (dApps) on any blockchain. According to a press release shared with Coinspeaker, the API integrates advanced search and routing algorithms to enable self-managed asset exchange both on-chain and between other chains. Leverage a liquidity pool of over $100 billion across 450+ centralized and decentralized exchanges. simple line of code Currently in beta, the API allows developers to easily integrate…
prime protocol Users can deposit an asset on a supported chain and take out another asset loan backed by the entire asset portfolio. The scope of this audit was the wormhole path used to pass messages in the protocol. Prime has partnered with Ackee Blockchain to conduct a security review of the Wormhole route in the Prime protocol with a total donation of time. Engineering 5 days in the period between January 9th and January 13, 2023. methodology We began our review using a static analysis tool called Woke. We then analyzed the contract logic in depth and used the…
Weild joins Tritaurian Capital to advance Dignity Gold David Weild IV, former Vice Chairman of Nasdaq, will assume a day-to-day advisory role to help tailor Dignity Gold’s processes and controls to meet the needs of institutional investors. Dignity GoldLLC (“Dignity”), a company providing a new way to invest in the U.S. precious metals, mining and minerals sectors utilizing security tokens, today announced the following: Waled & Company Retained to advise Dignity on strategy and operating procedures and to raise capital from institutional markets. Weild will also consult with Dignity on its work with U.S. public regulators. Wald & Company joins…
Umami Labs CEO Alex O’Donnell grew up outside Philadelphia and attended Temple University, where he studied literature and economics. That path led him to work as a financial journalist at Reuters for seven years, specializing in M&A IPOs. He said his academic focus created “a very natural integration” in financial journalism. But he said he had become “disillusioned” with his industry while confined to his home during the COVID-19 pandemic. “There was really a three-way alliance between journalists, government officials and technology companies trying to control the flow of information,” O’Donnell told Cointelegraph. He started working with cryptocurrencies, which led…
The price of XRP is down 18.5% from its local high of $0.67 on November 23, and the cryptocurrency’s sell-off is likely to increase in the coming weeks.XRP Technical Hints on Extended CorrectionXRP (XRP) has not broken above the downtrend line resistance since January 2018, and has yet to record a break above it in November 2023, showing psychological selling pressure around the line.XRP/USD weekly price chart. Source: TradingViewAfter testing descending trendline resistance, each bearish rejection has historically led to a decline toward the rising support trendline. The downside target appears to be around $0.50, which interestingly is closer to…
Top news this week U.S. officials announce $4.3 billion settlement with Binance, request transaction with CZ Binance and co-founder Changpeng “CZ” Zhao have reached a settlement with the U.S. Department of Justice in criminal and civil lawsuits. CZ will plead guilty to one felony charge as part of a negotiated settlement. Attorney General Merrick Garland announced the settlement, alleging that Binance’s policies allowed criminals involved in illegal activities to move “stolen funds” through the exchange. As part of the agreement, CZ announced via He added that U.S. officials are “proud to point out” that they have not alleged that Binance…
The Monetary Authority of Singapore (MAS) recently reaffirmed its commitment to promoting technological innovation within the financial sector with the introduction of the latest version of the Financial Sector Technology and Innovation Initiative (FSTI 3.0). This initiative highlights our ongoing efforts to drive advancements and embrace new technologies in the financial industry. below this planMAS will allocate up to $150 million over the next three years to accelerate the adoption of cutting-edge technologies and foster a thriving technology ecosystem within the industry. FSTI 3.0 consists of three new tracks to support projects that leverage new technologies and have regional impact.…
The High Court of Podgorica, the capital of Montenegro, approved the extradition of Do-Do Kwon, co-founder of Terraform Labs, at the request of Korea and the United States.The court said Friday it was seeking extradition on charges related to financial crimes in both countries. Although Mr. Kwon agreed to be repatriated to Korea, the court added that the final decision on which country will be given priority for repatriation will be made by Montenegro’s Minister of Justice.If the minister approves, Mr. Kwon will be extradited after serving four months in prison in Montenegro on charges of document forgery.Mr. Kwon was…