Cryptocurrency

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is stepping up its security efforts, using cutting-edge AI technology to fend off hackers and bad actors. In the first half of 2024, Bybit protected users by executing 32 million withdrawals and prevented the loss of over $79 million in client assets by vetting close to $1 billion in suspicious withdrawal attempts. More than $37 million in project funds were also safeguarded.As part of its tiered approach to fund safety, Bybit’s focus on protecting hot wallets and cold wallets plays a critical role in preventing hacking and fraud. Bybit has strengthened its verification processes, applying extra scrutiny to large transactions and high-risk withdrawals. While most fraudulent attempts were prevented in the early stage, the exchange detected abnormal withdrawal requests involving over $940 million in cryptocurrency during the first six months of 2024, with over 8.4% confirmed as attempted fraudulent withdrawals.Fraud Prevention in an Evolving Threat LandscapeAs crypto adoption scales, fraudsters and hackers increasingly target individual users and institutional vulnerabilities. Bybit, as one of the leading crypto exchanges, stands as a critical line of defense against these threats, employing sophisticated AI-driven security protocols to foil illicit schemes. The rise of AI has emerged as an area of concern for security and risk experts, prompting service providers to reconfigure their security posture. Covering Every Vulnerability with AI-Driven ProtectionBybit’s deployment of AI technology serves as a robust shield against evolving risks. From securing user wallet systems to detecting complex, AI-enabled fraud attempts, Bybit’s enterprise-level AI fortifies each layer of its defenses.All Bybit users can opt into multi-channel verifications and biometric authentication to ensure that their identities are securely verified. For instance, Bybit’s risk engine recently thwarted an attempt involving face-swapping technology aimed at bypassing facial verification in its Know Your Customer (KYC) process. Thanks to its live face detection and virtual camera detection, Bybit’s system swiftly blocked the attempt by the hacker.With a proprietary risk control engine and user behavioral analytics models, Bybit streamlined fraud detection with a combination of both automated and human scrutiny. The wealth of data and algorithmic processes help the system and a team of over 50 risk and security experts detect irregular behavioral patterns and sound the alarm for suspicious activities. The approach significantly reduces the risk of unauthorized access, instructions and withdrawals.A “Safety-first” Approach to TradingBybit has recently announced a comprehensive upgrade of its security measures. Verified by blockchain auditor CertiK, Bybit’s state-of-the-art safety model helped it secure a 10/10 trust score on CoinGecko. By leveraging multi-faceted security frameworks and heavily guarded vaults, Bybit ensures its users’ assets are stored in infrastructures designed to withstand even the most vigorous hacking attacks. With its commitment to building lasting trust in the Web3 ecosystem, Bybit aspires to deliver the highest standards in security to set new security standards for the industry. #Bybit /#TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, readers can please visit Bybit Press. For media inquiries, readers can please contact: media@bybit.comFor more information, readers can please visit: https://www.bybit.comFor updates, readers can please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

While the world’s biggest cryptocurrency had initially logged a mixed reaction to the rate cut, it eventually tracked an uptrend in other risk-driven markets, specifically stocks. Broader cryptocurrency prices rose on Friday and were also set for weekly gains. Bitcoin rose over 1% to $63,514.0 by 08:21 ET (12:21 GMT) – its highest level since mid-August. Bitcoin was trading up around 6% this week, and was headed for a second positive week. Sentiment towards crypto markets was boosted by the Fed’s 50 basis point rate cut, given that lower rates free up more liquidity that can then be deployed towards speculative assets. The Fed’s cut marks the beginning of an easing cycle that analysts estimate could bring rates lower by as much as 125 bps by the end of the year. But bigger gains in crypto- and broader risk-driven markets- were still limited by comments from Fed Chair Jerome Powell, who said that the Fed’s neutral rate will be higher than seen in the past. His comments spurred doubts over just how low interest rates will fall. The Fed’s outsized cuts also sparked some concerns over the state of the economy, and whether growth will slow in the coming months. Low interest rates were a key driver of crypto’s 2021 bull run, although the sector has since seen an extended decline in retail interest. Spot Bitcoin exchange-traded funds provided a limited boost to trading volumes earlier this year. Bitcoin has also remained largely within a tight trading range for most of this year. Broader cryptocurrency prices rose in tandem with Bitcoin, although altcoins were set for a mixed weekly performance. Recent capital flows into crypto have been largely directed towards Bitcoin and Ether, with the former largely retaining its dominance over the market. World no.2 crypto Ether rose 4.8% to $2,554.74 and was sitting on a 5.6% gain this week.SOL, XRP, ADA and MATIC rose between 0% and 7%, with Solana up the most this week with a 10% jump. The rest were set for a flat-to-low weekly performance. Among meme tokens, DOGE rose 1% and was up 0.9% this week.Hundreds of bitcoin mined during the network’s early days were moved on Friday, marking one of the rare occasions when bitcoin from the so-called “Satoshi era” has been active. This period refers to the time when Bitcoin creator, Satoshi Nakamoto, was still participating in online forums, roughly between late 2009 and 2011.On-chain tracker Whale Alerts flagged the movement of over 250 BTC, valued at nearly $16 million at current prices, during the European morning hours. The transactions, which occurred within an hour, involved batches of 50 BTC being transferred to new wallets.It remains unclear whether the wallets belong to the same individual or entity, and as of now, none of the newly moved BTC have been sent to cryptocurrency exchanges.Blockchain data reveals that these bitcoins were received as a block reward in 2009, only months after the network’s launch, and had remained inactive until the recent transactions.Ambar Warrick contributed to this report. More

According to an official post shared via X Space, Agile Coretime introduces a novel approach to allocating resources on Polkadot. Unlike the previous auction-based system, which granted block space through two-year leases, Agile Coretime simplifies the process by creating a “core” — a virtual unit on the Polkadot Chain for managing transactions and running smart contracts for parachains. This system is overseen by the “Coretime Chain,” a specialized parachain that handles the purchase, renewal, and distribution of these resources. The Polkadot Chain will continue to serve as the network’s central hub, managing security, consensus, and cross-chain communication. Agile Coretime allows projects to obtain computational resources in two distinct ways: on-demand purchasing for new or smaller projects with variable needs and bulk purchasing for more established projects requiring steady blockspace. The bulk transactions are represented as non-fungible tokens (NFTs) and can secure blockspace for up to 28 days in advance.Polkadot 2.0, the term used to describe the future trajectory of the network, represents a series of changes designed to expand its capabilities. Founder Gavin Wood describes Polkadot 2.0 as an adaptable and scalable computing resource that will introduce features to improve scalability, lowering entry barriers, and meeting evolving market needs.Polkadot’s journey began with the release of its whitepaper in 2016, and the network hit a major milestone in 2023 with the launch of its final codebase. Beyond the technical aspects, the Polkadot 2.0 upgrade is already impacting the broader crypto ecosystem. High-profile projects like Mythical Games and Frequency have chosen Polkadot as their platform. The introduction of Agile Coretime gives developers more flexibility, allowing them to acquire blockspace in real-time based on their precise needs, which in turn improves the efficiency of resource management on the network. More

Nosana, the decentralized AI inference engine powered by a global network of consumer GPUs, reveals the official launch date for its Nosana Mainnet: January 14, 2025.Nosana, a leader in decentralized AI computing, is proud to announce the upcoming launch of its Nosana Mainnet, set for January 14, 2025. This marks a significant milestone for Nosana, following a year of rigorous testing and preparation for full-scale deployment.What Nosana’s Mainnet BringsNosana’s Mainnet will transform access to decentralized GPU resources, unlocking crucial power and efficiency for AI inference workloads. With the launch, Nosana’s users and GPU providers will enjoy new features and significant improvements:On September 30, 2024, Nosana will begin Test Grid Phase 3, its final stage of testing, focusing on refining pricing models, implementing staking, and ensuring the platform is fully prepared for the January launch. This phase will be the last opportunity to test critical components before the mainnet goes live.Nosana’s Vision for 2025The mainnet launch is just the beginning for Nosana. As the platform goes live, the company plans to expand its ecosystem and attract a broader range of projects. In Q2 2025, Nosana will host its first global hackathon, inviting developers and startups to explore new applications for AI inference on its decentralized GPU grid.Timeline Overview:Nosana is a decentralized AI inference engine powered by a global network of consumer GPUs. Built on the Solana blockchain, Nosana provides scalable and efficient access to GPU resources for AI workloads. With its cutting-edge infrastructure, dynamic pricing model, and advanced job-to-node matching, Nosana leads the way in decentralized AI computing.ContactCMOCaroline JohnovaNosanacaroline@nosana.ioThis article was originally published on Chainwire More

From September 18th to 19th, MEET48, as a platinum sponsor of Singapore’s TOKEN2049, showcased its latest product lineup to the audience, including the TON ecosystem fishing game “CoinFish” to be released on October 23rd, the TON ecosystem idol training game “CoinIdols,” the virtual idol generation AI SaaS tool “AIShowBox” and a series of upcoming online activities based on the metaverse community. These offerings truly demonstrated the innovative applications of combining Web3 technology and AI to users. Through games, music, dance, and social interaction, MEET48 illustrated the potential and possibilities of Web3 technology in the entertainment field, leading the public into a new era of large-scale Web3 applications.At TOKEN2049, MEET48’s Side Event “Back To The Streets” and the hackathon hosted by TON Foundation, MEET48 COO Kai Xu delivered a captivating brand presentation and speech on “The Mass Adoption of Web3 Idol Entertainment and Fan Economy.”On the night of September 18th, MEET48 successfully hosted the Web3 & AI party “Back To The Streets” at Clarke Quay in Singapore, attracting over a thousand registrants and generating an electrifying atmosphere.MEET48 GIPR2 Top7 idols (Zhang Qiongyu, Liu Zengyan, Zeng Aijia, Yang Bingyi, Zhang Xin, Liu Lifen, and Chen Ke) brought a stunning audiovisual feast to the audience, blending Web3 technology with entertainment elements. Their performance was met with rounds of applause and cheers, capturing the attention of numerous attendees from inside and outside the industry. They also received enthusiastic feedback from MEET48’s global fanbase, further showcasing MEET48’s strategic global expansion and its crucial role within the Web3 ecosystem.That evening, MEET48 GIPR2 Top7 idols also held a fan meet-and-greet at the party, warmly shaking hands and interacting with fans from around the world.On August 2nd, 2025, MEET48 plans to integrate idols from SNH48 and hold a global idol voting event in Hong Kong, further expanding the international influence of MEET48 and the entire 48 Group idols. This event will attract fans and participants from all over the world and will be a grand gathering where virtual idols and real idols compete on the same stage. Through entertainment, this event aims to pave the way for Web3 and lead it into the era of mass adoption.About MEET48MEET48 is regarded as one of the largest Web3 application project teams globally, with a technical and R&D team of 500 members and an operational network spanning across Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve mass adoption of Web3 technology by focusing on an AI UGC content ecosystem centered around AIGC (Animation, IDOL, GAME, and Comics) entertainment content for Gen Z, as well as a graphical and intelligent metaverse social platform.MEET48 official website: https://www.meet48.xyz/Twitter (X): https://x.com/meet_48Telegram: https://t.me/MEET_48Discord: https://discord.gg/meet48ContactMarketing DirectorSiyu YangMEET48siyu@meet48.comThis article was originally published on Chainwire More

Having overcome its 50-day EMA, DOGE is currently trading slightly above $0.104. Given that Dogecoin has been trading in a generally bearish pattern over the last few months, this development is significant because it may signal the start of a larger reversal. If this momentum continues, Dogecoin may see additional gains in the next few days. The breakthrough above this level suggests renewed buying pressure. The potential for a golden cross adds to the intrigue of this scenario. When a long-term moving average like the 200-day EMA crosses above the short-term moving average in this example, the 50-day EMA a golden cross is formed.The current breakout gives hope that Dogecoin may eventually invalidate this bearish pattern and trigger a golden cross in place of the death cross, which occurred when the 50-day EMA crossed below the 200-day EMA. A development of that kind would probably encourage even more bullish sentiment.The 100-day and 200-day moving averages or $0.11 and $0.118 are important resistance levels to keep an eye on if Dogecoin is to keep moving higher. Indicating a return to bullish territory for DOGE, a break above these levels could confirm a reversal.After the recent rate cut of 50 basis points, which sparked a wave of capital inflows onto the cryptocurrency market, Bitcoin (BTC) has seen a notable breakout. This bullish trend has lifted Bitcoin above significant technical milestones, suggesting that the most popular cryptocurrency may make a return earlier than most people had expected. Since these moving averages frequently serve as important barriers to entry, breaking through them is a strong technical signal. When they are broken, it means that there is a positive shift in market sentiment.Since the 200-day EMA is a crucial indicator for many institutional and long-term investors, Bitcoin’s breakout above it is especially significant. Since there have been significant inflows onto the market, Bitcoin’s current price is above $62,000, and it appears that this rally may continue. If Bitcoin succeeds in surpassing the $68,000 barrier, it may indicate the start of a more extensive rebound for the whole cryptocurrency market.Past the $68,000 mark, the previous all-time highs might be the next important levels to monitor, which might pique the interest of institutional and retail investors once more. Though sentiment is generally positive, it is crucial to keep in mind that Bitcoin is still moving within a larger descending channel.If it fails to break above $68,000, this could lead to a retracement back to support levels around $60,000. However, for the time being at least, it seems that the bulls have the momentum, and Bitcoin is strengthening as it rises from its most recent lows.If TON succeeds in breaching this crucial barrier, it may surge rapidly in the direction of $6. If this is not done, though, there could be a significant retreat. The technical picture indicates that TON is at a critical juncture. The 50 EMA has historically been a strong resistance level, frequently serving as a divide between bullish and bearish trends. Because TON’s price is currently trading just below this level, a breakout could indicate that the asset is regaining momentum.However, if this does not happen, a retracement back to earlier support levels at $5.50 or even $5.30 may be necessary. The formation of a double-top pattern on local time frames adds to the uncertainty.If the $6 target is not hit soon, there may be an impending pullback, according to this bearish chart pattern, which frequently signals a decline in price. Before making any significant decisions, traders should be aware of this trend and wait for confirmation signals.This article was originally published on U.Today More

In his usual character, Michael Saylor, the chairman and cofounder of MicroStrategy, reacted to Bitcoin’s bullish upswing. In a recent tweet, Saylor made a playful yet impactful statement: “Have a Bitcoin Burger.”This tweet, while lighthearted, underscores Saylor’s unwavering support for Bitcoin. Under Saylor’s leadership, MicroStrategy has become one of the largest institutional holders of Bitcoin, with over 244,800 BTC in its reserves.MicroStrategy announced yesterday the pricing of its Convertible Senior Notes Offering. On Sept. 16, 2024, MicroStrategy issued a redemption notice, under which the Senior Secured Notes will be redeemed on Sept. 26, 2024.MicroStrategy estimates that the net proceeds from the sale of the notes will be around $864.1 million. In a press release, MicroStrategy stated that it intends to use the net proceeds from the offering to redeem all $500 million of MicroStrategy’s 6.125% Senior Secured Notes, due 2028, and that any remaining net proceeds will be used to purchase additional Bitcoin and general corporate purposes.At the time of writing, BTC was up 5.37% in the last 24 hours to $63,198, and up 9.37% this week.Wall Street traders speculating that the Federal Reserve would be able to make a soft landing fueled a rally in riskier sectors of the market, with stocks reaching an all-time high.As Bitcoin crosses $63,000, eyes are on the cryptocurrency to see if it will sustain its newfound bullish momentum and challenge its current all-time highs of nearly $74,000 attained in mid-March.This article was originally published on U.Today More

According to the tracker’s messages, the first in a series of mysterious withdrawals was a transfer of 2,999 BTC, worth about $187.64 million, from Huobi to the address “1NBX1,” which Arkham Intelligence identified as the Poloniex account.Next in line was another transfer from Huobi, this time even larger, as 3,994 BTC worth nearly a quarter of a billion dollars alone landed on the same address as the previous tranche. This was followed by two sudden withdrawals totaling 2,150 BTC, or $135.34 million, from Kraken. According to the general rule on the cryptocurrency market, the withdrawal of large amounts of cryptocurrency from centralized exchanges is considered a bullish sign. In many cases, such moves are precipitated by large players seeking to secure their massive holdings. Whether that is the case here remains to be seen.Bitcoin itself has not yet shown any unusual reaction to these withdrawals. The first cryptocurrency continues to climb in its quotes and has already reached the $63,000 zone. If the bullish trend continues, the most reasonable resistance is seen around $67,500, where the dynamic level extends.This article was originally published on U.Today More