The downgrade nudged investors into a cautious stance, leading many to move their money out of assets such as stocks, silver, oil and long-term bonds. Instead, they turned to cash and short-term instruments, which are perceived as safer options in uncertain times.Continue Reading on Coin Telegraph More
The FSC reportedly informed dozens of domestic crypto service providers that Binance is applying for Anti-Money Laundering (AML) compliance, according to a report published in local media. The report cited Chen Peiyun, co-founder of Taiwan-based crypto exchange BitShine, as the source of information, who revealed that the FSC named Binance as one of the exchange prospects planning to enter the Taiwanese crypto market.Continue Reading on Coin Telegraph More
The company disclosed in its earnings report published on Aug. 11 that the losses were largely attributed to a $33.2 million listing fee paid to Blue Safari relating to Bitdeer’s listing on the Nasdaq exchange. The firm’s revenue increased by 5.2% to $93.8 million. The same day, Bitdeer’s stock was up over 40% on news of a $150 million share purchase agreement with B. Riley Financial. The company’s current market capitalization stands at $1.5 billion. Continue Reading on Coin Telegraph More
“There’s a tremendous amount of pressure on the SEC to approve a number of these ETFs, particularly because the approved Futures backed products are lagging spot performance substantially, harming investors,” markets veteran and co-founder of CoinRoutes Dave Weisberger told Cointelegraph, adding that all pending applications will likely be included in a final decision.Continue Reading on Coin Telegraph More
In an announcement on Aug. 11, the Worldcoin project noted that the World App now offers a reservations feature to make it easier for everyone to reserve their WLD tokens before verifying their World ID. The reservation will be valid for 12 months and users can redeem their reserved world tokens by visiting the iris-scanning device called the Orb.Continue Reading on Coin Telegraph More
Mustafa Bedawala, a product manager at Visa, presented the report, highlighting an observed challenge with cryptocurrency wallets; the ongoing requirement to oversee Ether (ETH) balances for covering gas fees.Continue Reading on Coin Telegraph More
Blockchain security firm SlowMist reported the issue.It could also affect users of other digital currencies like Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), and Zcash that employ Libbitcoin to create accounts.Libbitcoin is a Bitcoin wallet implementation used by various applications, including Airbitz, Bitprim, Blockchain Commons, and Cancoin. SlowMist did not specify which applications are affected by the vulnerability.The vulnerability, known as the “Milk Sad,” was first discovered by the cybersecurity team “Distrust” and reported to the CEV cybersecurity vulnerability database on Aug. 7. It involves a faulty key generation mechanism in the Libbitcoin Explorer, which allows attackers to guess private keys.The attackers exploited this vulnerability to steal over $900,000 worth of crypto, including a single attack that siphoned away over $278,318SlowMist claims to have “blocked” the address, implying that they have contacted exchanges to prevent the attacker from cashing out the funds. They will also be monitoring the address in case funds are moved elsewhere.The Distrust team and eight freelance security consultants have set up an informational website explaining the vulnerability. They have found that the vulnerability occurs when users generate a wallet seed using the “bx seed” command, which lacks sufficient randomness and can produce the same seed for multiple users.The vulnerability was discovered when a Libbitcoin user reported missing BTC on July 21. More digging showed that other users were having their Bitcoin stolen similarly.Eric Voskuil, a member of the Libbitcoin Institute, stated that the “bx seed” command is not intended for production wallets, and changes may be made to strengthen the warning against its use or remove the command altogether.Wallet vulnerabilities remain a problem for crypto users in 2023, with over $100 million lost in a hack of the Atomic Wallet in June. According to the wallet security rankings released by CER in July, nly six out of 45 wallet brands employ penetration testing to discover vulnerabilities.This article was originally published on Crypto.news More
The overall response of markets to the result of the lawsuit was much more muted than many anticipated, as a ruling on XRP’s sales does not easily generalize to other coins and tokens. The SEC is now firmly expected to appeal, and market activity has been generally waning over the summer months.Continue Reading on Coin Telegraph More
