Wazirx: Crypto and INR Balance Solutions Top Priority, Urges Users Not to Panic

August 16, 2024 Bitcoin.com

bitcoin.com

Indian crypto exchange Wazirx has informed users that it is focusing on resolving issues related to INR and crypto balances. The exchange emphasized that both solutions require ongoing legal analysis and urged users not to panic. Wazirx acknowledged users’ frustration but cautioned that drastic actions could cause further delays. Wazirx’s Update on Top Priority Post […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Wazirx Moves Funds to New Wallets After $230M Crypto Theft

August 14, 2024 Bitcoin.com

Wazirx Moves Funds to New Wallets After 0M Crypto Theft

Assets

Indian crypto exchange Wazirx is in the process of migrating the remaining assets from custodian Liminal to new multisig wallets following a security breach that resulted in the theft of over $230 million. Wazirx claims that while its own systems remain secure, the custodian’s interface was compromised, prompting this precautionary measure. Wazirx Updates on Cyberattack […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Binance Security Team Recovers $73 Million in Stolen Crypto Funds This Year

August 9, 2024 Bitcoin.com

Binance

Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security. Binance Recovers $73 Million in Stolen User Funds Crypto exchange Binance announced on Wednesday that its security team […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Bitrace warns of new crypto scam using QR codes

August 8, 2024 Coin Telegraph

Coin Telegraph

The scam starts with a small payment of Tether (USDT) to the user.

According to a social media post by blockchain analysis firm Bitrace, scanning the wrong QR code could drain users’ wallets.

Bitrace is warning of a new type of crypto scam “where theft is carried out through a payment QR code transfer test, essentially deceiving users into authorizing wallets.”

According to Bitrace, the scam follows a specific pattern. First, the scammer proposes that the user swap tokens over-the-counter (OTC) — through a wallet-to-wallet transfer rather than an exchange — and offers an exchange rate that beats the market.

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Ronin Network Reclaims $12 Million in Stolen Digital Assets

August 7, 2024 Bitcoin.com

Ronin Network Reclaims Million in Stolen Digital Assets

bitcoin.com

Ronin Network stated that digital assets worth $12 million, siphoned by so-called white hat hackers on August 6, were returned in full the same day. The Ronin team mentioned that they paused the bridge approximately 40 minutes after the first on-chain action was detected. The team also assured users that their funds were “safe and […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Microsoft blames Crowdstrike meltdown on 2009 European Union deal

July 22, 2024 Coin Telegraph

Coin Telegraph

The security incident affected 8.5 million Windows systems worldwide as commercial operations were hit with the “blue screen of death.”

According to The Wall Street Journal, a Microsoft spokesperson blamed the recent Crowdstrike failure on a 2009 regulatory deal between Microsoft and the European Union.

The spokesperson claimed Microsoft agreed to give external security developers the same level of access to interact with the software as Microsoft, paving the way for critical bugs.

Patrick Wardle, the CEO of DoubleYou, explained that monolithic ecosystems like Apple’s MacOS are more resistant to such critical errors because of their walled-off architecture. In 2020, Apple revoked similar security clearances for its operating system, insulating it from third-party security failures and coding conflicts.

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Wazirx Offers $23M Bounty to Recover Stolen Assets After Massive Security Breach

July 21, 2024 Bitcoin.com

Wazirx Offers M Bounty to Recover Stolen Assets After Massive Security Breach

bitcoin.com

Indian crypto exchange Wazirx has announced a $23 million bounty program to recover assets stolen in a cyberattack on its multisig wallet. Emphasizing community involvement, co-founder Nischal Shetty outlined the rewards for tracking, freezing, and ethically recovering the stolen funds. He insists that the attack was not due to phishing but involved multiple hardware wallets […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Li.Fi releases incident report following $11M hack

July 18, 2024 Coin Telegraph

Li.Fi releases incident report following M hack

Coin Telegraph

The team also announced it was working on a voluntary compensation plan to reimburse 100% of funds to users affected by the exploit.

Following the $11.6 million exploit of the Li.Fi protocol, an API used to bridge and swap digital assets across blockchains, the Li.Fi team released an update outlining the technical details of the breach.

According to the security update, the deployment of a new smart contract facet was ground zero for the malicious attack. A vulnerability in the code allowed users calling the smart contract to initiate calls to any contract without prior validation.

This function is a result of code taken from the LibSwap library, used to facilitate calls between decentralized exchanges, service providers, and clients to coordinate the asset bridging and swapping processes.

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals

July 12, 2024 Bitcoin.com

Anniversary

Binance is celebrating its seventh anniversary, reflecting on its growth and achievements in the rapidly evolving cryptocurrency industry. In an open letter, Binance CEO Richard Teng shared his insights and perspective on the company’s journey and future. Binance CEO Richard Teng on Successes, Challenges, and the Road Ahead In his reflection shared with Bitcoin.com News, […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

SEC will not pursue enforcement action against Paxos

July 11, 2024 Coin Telegraph

Binance USD

The stablecoin issuer received an SEC Wells notice in February 2023 warning of a potential lawsuit over Binance USD as an unregistered security.

The United States Securities and Exchange Commission intends to drop its investigation into stablecoin issuer Paxos and not file an enforcement case.

According to a July 9 letter by Jorge Tenreiro, acting chief of the crypto assets and cyber unit, the SEC will not recommend an enforcement action against Paxos over the Binance USD (BUSD) token. In February 2023, Paxos received an SEC Wells notice claiming that BUSD was an unregistered security and that the platform violated federal securities laws.

“Paxos Trust Company has always maintained that its USD-backed stablecoins are not securities under federal securities laws and that the Wells Notice was unwarranted and unjustified,” said Paxos in a July 11 statement. “We are proud of our relentless advocacy for stable-value digital assets and that the SEC staff determined it will not bring enforcement action against Paxos in connection with BUSD.”

Security

Share this video