Cryptocurrency

A wallet tied to at least $24 million in stolen cryptocurrencies deposited 600 Ether (ETH) worth an estimated $936,000 into Tornado Cash, an Ethereum-based privacy tool sanctioned by the US Treasury Department.The address received 2000 ETH tokens from a wallet labeled “FakePhishing186943” on block explorer Etherscan. FakePhishing186943 seems to be the recipient of proceeds from multiple phishing campaigns. On Sep. 7, a crypto whale fell victim to one of these malicious attacks masterminded by phishers. The whale, crypto’s term for addresses with large amounts of digital assets, lost $24 million in liquid staking derivatives after clicking a fake link, according to on-chain analytics provider CertiK.As a result, the scammer gained transaction authorization and stole 9,579 Lido staked Ether (stETH) worth $15.6 million at the time. The culprit also drained 4,851 in Rocket Pool Ether (rETH) valued at $8.5 million from the whale’s coffers. According to Etherscan, the theft happened in two transactions, and “FakePhishing186943” received the looted assets.The deposit into Tornado Cash, a protocol that allows users to obscure their transactions, is likely an attempt to throw off would-be crypto trackers and law enforcement by tapping a decentralized privacy tool.This potentially makes it harder to track where assets came from. The tool’s privacy features reportedly stirred concerns with the US Treasury Department, and sanctions on Tornado Cash were eventually placed in August 2022.Indeed, the Treasury’s Office of Foreign Assets Control (OFAC) claimed North Korean hackers and other bad actors leveraged Tornado Cash for billions in money laundering. A trio of developers and co-founders were also accused of conspiracy and evasion of sanctions due to their contribution to Tornado Cash.Roman Storm, one of the three devs, pleaded not guilty to criminal charges on Sep. 6. The court confiscated his Russian passport and issued a $2 million bail.Another fellow developer, Alexey Pertsev, accused of money laundering, spent nine months in Dutch detention before his release in April 2023.This article was originally published on Crypto.news More

The shareholders will begin their day with an account of the claims against the cryptocurrency exchange. Over 2,300 non-customer claims have been filed against it, including those from Genesis, Celsius and Voyager. The claims are worth $65 billion, although those from FTX Digital Markets are “assumed to be invalid/redundant,” and the United States Internal Revenue Service’s claim — the largest at $43.5 billion — is assumed to be subordinated.Continue Reading on Coin Telegraph More

The Mountain View company will invest a total of $20 million in grants to leading think tanks and academic institutions around the world with the expressed aim “to facilitate dialogue and inquiry” into AI technologies. Continue Reading on Coin Telegraph More

At the time of writing, BTC was marginally down 0.63% in the last 24 hours to $25,703.Bitcoin’s death cross, the first seen since January 2022, is set to appear in days. A bearish indication, a death cross occurs when the moving average (MA) 50 crosses below the moving average (MA) 200 and, in theory, implies a further sell-off.Based on this, Ali notes that a drop below the $25,200 support might confirm a deeper price correction ahead for BTC.In this , selling might build up, and BTC could target below $25,000, possibly as low as $24,756. A rally above $26,399 would suggest that the advantage has shifted in favor of buyers. This might spark an increase to $27,695 and, finally, to $28,142.However, the daily RSI flattening below the neutral threshold of 50 may indicate that both bulls and bears are skeptical about the upcoming move, with the bears holding a slight advantage.Thus, it might be necessary to watch for a break above $26,399 or a dip below $24,756 to adjudge BTC’s next move.Increased volatility might be implied as traders anticipate the release of key inflation figures later this week.According to , the United States will release August CPI and PPI numbers this week, while the European Central Bank will announce its interest rate decision. Year-on-year inflation is forecast to rise from 3.2% to 3.4%, while core inflation is expected to dip from 4.7% to 4.5%.Nonetheless, despite the dismal Bitcoin price action, the BTC network has seen some headway. According to IntoTheBlock, Bitcoin registered the largest number of new daily addresses since 2017 over the weekend, the second largest in its history.This article was originally published on U.Today More

Backing up the claims are several products slated for release before the end of the year that could see blockchain interoperability efforts move away from current solutions, which execs say don’t make sense and are a “honeypot” for hackers.Continue Reading on Coin Telegraph More

According to The Telegraph, former engineer James Howells lost 8,000 bitcoins (BTC) — over $205 million under the current rate — when he accidentally threw away his hard drive while cleaning his office.Howells has been trying to recover assets for the last ten years. He asked local authorities for access to the dump to find the hard drive but constantly received refusals.As a result, Howells has lodged a formal complaint demanding the council be given access to the dump and begin a search operation by Sept. 18. He also demanded compensation of £446 million ($558 million).The 38-year-old engineer assembled a team of 16 people to search for the hard drive. The team included Dean Armstrong and the man who ran the landfill before he retired, as well as data recovery experts. Howells promised everyone a reward for finding the hard drive.Finding the missing “treasure” requires artificial intelligence sorting, waste management and trash extraction, and disk data retrieval.A Newport City Council spokesman confirmed they had been contacted by an engineer on numerous occasions since 2013 to help recover the hard drive.He also confirmed that only the council can issue permission for excavations. However, he does not intend to do this.This article was originally published on Crypto.news More

Speaking exclusively to Magazine editor Andrew Fenton in Singapore ahead of the 2023 Token2049 conference, Teng addressed a variety of different challenges being faced by Binance’s regional arms as well as playing down reports that he is being groomed to take the reigns from founder Changpeng “CZ” Zhao in the future.Continue Reading on Coin Telegraph More

Prominent whale tracking resource Whale Alert first called attention to the development in a recent disclosure on X (formerly Twitter), eliciting varied reactions from the broader crypto community.The transaction occurred on Sept. 10 at 5:04 AM (UTC). Data from Blockchair indicates that the user transferred a meager 0.074 BTC tokens, currently valued at $1,911, with some of the assets sent to Binance.However, fees for the transaction stood at a whopping 19.82 BTC, worth around $511,512 against prevailing rates. Interestingly, Bitcoin’s average transaction fee currently sits at 0.000084 BTC, valued at $2, according to recent data from IntoTheBlock.The fee marks a historic moment on the Bitcoin blockchain, especially when BTC miner revenue from fees recently witnessed a decline. It is important to note that, despite the recent development, the Bitcoin address involved still holds a substantial amount of BTC. The address currently boasts a balance of 416.49 BTC. In addition, a transaction count of 61,392 shows that the user is not new to the workings of the BTC network, adding to the growing speculations.The bizarre transaction fee has triggered a series of reactions from the broader crypto community, with proponents of more scalable networks such as Cardano and the XRP Ledger highlighting the shortcomings of the Bitcoin blockchain.Moreover, some market watchers have theorized that the user could have mistakenly swapped the transaction fee and amount values. This belief has dominated the crypto community as the most logical theory.A similar event occurred in September 2021. A transaction from DeversiFi, an Ethereum-based exchange, paid a massive 7,676 ETH (currently worth $12.3 million) as the fee to move $100,000. The erroneous fee was later refunded.This article was originally published on Crypto.news More