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Stolen Poloniex Ether worth $53M never made it back to the exchange

The Poloniex hacker moved over 17,800 Ether (ETH) from six different wallets into a single Tornado Cash address.

Over half of the $100 million worth of Ether (ETH) linked to the infamous Poloniex hack from November 2023 has been siphoned via the privacy protocol Tornado Cash.

On Nov. 10, 2023, wallets belonging to crypto exchange Poloniex recorded massive unauthorized outflows. Investigations later confirmed that over $100 million worth of ETH was lost to a hack.

Despite Poloniex claiming to have identified the hacker weeks later and offering a $10 million bounty, the stolen funds never made it back to the exchange. According to the blockchain security firm CertiK, the incident was likely a “private key compromise.”

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BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Charges

BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering ChargesAccording to a press release from the U.S. Department of Justice, Alexander Vinnik, a former operator of the BTC-e exchange, has admitted to a conspiracy to launder money. This admission of guilt comes over six years following his arrest in Greece on July 25, 2017. BTC-e’s Vinnik Pleads Guilty to Money Laundering The Department of […]

Cardano Primed To Continue Surging As Whales and Institutions Accumulate ADA, Says Crypto Analyst

Binance’s $1B emergency ‘SAFU’ fund now makes up 3% of UDSC supply

Binance’s billion-dollar emergency fund was previously held in three wallets: Bitcoin, Tether, True USD and BNB.

The world’s largest crypto exchange, Binance, is converting its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin and now holds 3% of its circulating supply. 

The company announced the move on April 18, stating that “we are transferring 100% of SAFU’s assets to USDC” but didn’t elaborate on why, other than it was “making use of a trusted, audited, and transparent stablecoin for SAFU,” which further enhances its reliability and ensures it remains stable at $1 billion.

The exchange’s Secure Asset Fund for Users is an emergency insurance fund established in 2018 to protect Binance users in extreme situations, such as exchange hacks, where users could be reimbursed for unforeseen losses. 

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Cryptocurrency Exchange Fixedfloat Hacked, Close to $26 Million Lost in BTC and ETH

Cryptocurrency Exchange Fixedfloat Hacked, Close to  Million Lost in BTC and ETHFixedfloat, an automatic cryptocurrency exchange, has been hacked by an unknown attacker who siphoned almost $26 million worth of BTC and ETH. The exchange, which has already acknowledged the attack, is investigating the event and working to eliminate all possible vulnerabilities. Meanwhile, Fixedfloat’s platform remains closed until further notice. Fixedfloat Loses $26 Million in ETH […]

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