People are once again pulling their money out of the US banking system. The latest data from the Federal Reserve Economic Data (FRED) system shows total deposits in all commercial banks fell $133.163 billion in seven days, from $17.580 trillion on April 10th to $17.446 trillion on April 17th. The new numbers have erased gains that […]
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ETH derivatives data shows pro traders’ appetite for risk declining, placing pressure on the $3,000 support level.
Ether (ETH) price plummeted by 21% between April 9 and April 14, hitting a 50-day low. Although it has recouped some of its losses, Ether continues to show signs of weakness following a failed attempt to breach the $3,200 resistance on April 14. Traders now question if the $3,000 support will hold for longer.
Investors are cautiously optimistic about the potential approval of a spot Ether exchange-traded fund (ETF) in May. However, the mixed signals from on-chain and derivatives data suggest the possibility of further corrections before the U.S. Securities and Exchange Commission (SEC) makes its decision.
Jan van Eck, CEO of VanEck investment firm, expressed doubt that the spot Ether ETFs would receive approval in May. He pointed to the SEC's extended inactivity on a list of seven pending applications, including those from major firms like BlackRock, Fidelity, ARK 21Shares, and VanEck.
Customers at a JPMorgan Chase branch say deposits aren’t showing up in their accounts, and the bank has been reluctant to address the issue. Carla Garling, a small business owner, says that despite having a deposit slip, her local Chase branch hasn’t confirmed a $13,478 deposit to her account, reports KFOR Oklahoma News 4. Since […]
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Hundreds of billions of dollars in deposits have exited US banks this year as consumers and institutions flock to money market funds to take advantage of the high interest rate environment. New data from the Federal Reserve Economic Data (FRED) system shows deposits in all US commercial banks plunged from $17.736 trillion at the start […]
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New numbers are shedding light on the multi billion-dollar flow of capital out of the US banking system. In a new report, S&P Global says total non-brokered deposits, or funds coming mostly from retail customers, recorded their sixth consecutive quarterly decline in Q3 of this year. The market intelligence firm says non-brokered deposits dropped from […]
The post $174,303,000,000 in Deposit Flight Hits US Banks in Three Months As S&P Global Declares Banking Industry Is ‘Gradually Shrinking’ appeared first on The Daily Hodl.
Several of America’s biggest banks are facing a flood of complaints about issues with account balances and direct deposits. Customers at JPMorgan Chase, Bank of America, US Bank, Wells Fargo and Truist say money that should have arrived in their accounts is not showing up. The network monitoring app Downdetector is reporting widespread issues at […]
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Three US financial titans just witnessed the flight of $44.354 billion in deposits in a single quarter. According to Bank of America’s (BofA) most recent quarterly earnings press release, the lender’s average deposits fell from $1.0063 trillion on June 30th to $980.1 billion by September 30th – a reduction of about $26.2 billion in three […]
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The newly created fake APT token called “ClaimAPTGift.com” made its way to 400,000 Aptos wallets, and users found they were able to deposit and sell it on the exchange.
South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal.
On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system.
The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21.
The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites.
However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as real Aptos tokens, allowing users to deposit them on Upbit and sell them for Aptos' market price, according to X user Definalist.
“It seems that during the process of reflecting $APT coin deposits, there was a failure to check the type arguments, and all same functions transfers were recognized as the same APT native token.”
⚡️How did such a huge and foolish incident occur?
— Definalist (@definalist) September 24, 2023
- It seems that during the process of reflecting $APT coin deposits, there was a failure to check the type arguments, and all same functions transfers were recognized as the same APT native token.
- Under normal circumstances,… https://t.co/CvDgTdqnGl pic.twitter.com/8gEx5YnOLH
This reportedly led to users being able to walk away with funds. Upbit’s customer center has reportedly started to request refunds from users who sold the fake APT tokens.
The issue has since been fixed. As of Sept. 24 at 11:00 pm local time, Upbit confirmed it has resumed deposits and withdrawals after completing the wallet inspection.
Related: Aptos token rises 11.6% after Microsoft deal to marry AI with blockchain
“The action against the abnormal deposit attempt has been completed, and there is no problem with your Aptos transaction,” it said in a statement.
It however warned that there could be delays in processing deposits and withdrawals, and possible temporary price fluctuations in the APT tokens as compared to other exchanges.
APT is currently trading at $5.31 over the last 24 hours, however, the price of APT on Upbit is around $5.56, according to CoinGecko.
Magazine: China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express
CoinEx has rebuilt its wallet system following a $70 million hack and is set to resume deposit and withdrawals for select cryptocurrencies.
Cryptocurrency exchange CoinEx is set to resume deposit and withdrawals for its users more than a week after it suffered a $70 million hack due to compromised hot wallet private keys.
In previous correspondence with Cointelegraph, the exchange outlined its priority to build and deploy a new wallet system to facilitate activities for the 211 blockchains and 737 tokens that it served before the hacking incident.
The latest statement from the exchange announces the resumption of deposit and withdrawal services of BTC, ETH, USDT, USDC and other tokens from Sept. 21.
CoinEx will update deposit addresses for the listed tokens and will generate new deposit addresses for its users.
CoinEx customers were advised not to deposit into old addresses on the platform, as this would result in assets being permanently lost. The exchange also warned of a potentially large number of pending withdrawals at the resumption of its operations:
“We ensure the new wallet system is stable, and we will gradually resume deposit and withdrawal services for more assets.”
The exchange maintains that it has implemented a 100% asset reserve policy to safeguard users against potential security threats. Previous updates following the hacking incident also stated that users assets were not affected and that CoinEx's User Asset Security Foundation would cover any financial losses.
Cointelegraph has reached out to CoinEx to ascertain if it will refund users in the event that assets were affected or are affected in the future by the event.
Gemini is investigating the root cause behind the suspected price glitch.
Crypto users have reported seeing “wonky” prices for Ripple’s XRP (XRP) token on the Gemini crypto exchange hours after it relisted the token on its platform for deposits and trading.
Several crypto community members on X (Twitter) on Aug. 11 posted screenshots of what many have described as a "price glitch" that has seen XRP’s displayed price on the exchange rise above $1 a number of times and even spiking to $50 on one occasion.
Major exchange @Gemini had a glitch.
— JackTheRippler ©️ (@RippleXrpie) August 10, 2023
$50 per #XRP! pic.twitter.com/UBEWN7Rv7j
However, the current market price for XRP is $0.63, according to the crypto tracking website CoinGecko.
Wow. Current price of $XRP on @Gemini. Is this a glitch? pic.twitter.com/Nbzro1ahlW
— Yassin Mobarak (@Dizer_YM) August 11, 2023
Meanwhile, as of Aug. 11, 1:25 am UTC, Gemini announced it has put its platform into full site maintenance.
“We are currently performing maintenance on the Gemini platform and so all services are currently unavailable. All customers assets and funds remain secure. We will provide updates here once we have more information to share.”
It also reported some users were seeing timeout issues on spot markets.
Related: Digital Currency Group files motion to dismiss Gemini lawsuit, claiming it’s a PR campaign
Gemini announced it had made XRP available again for trading on the crypto exchange on Aug. 10.
It comes after United States District Court Judge Analisa Torres ruled in the Ripple’s case against the Securities Exchange Commission that XRP is not a security when sold on exchanges.
Xcited to announce $XRP is now available for trading on Gemini. pic.twitter.com/E9Xiv8BTo3
— Gemini (@Gemini) August 10, 2023
Magazine: Deposit risk: What do crypto exchanges really do with your money?
