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The Wall Street Journal has confirmed that Alameda Research used a secret backdoor in FTX, the defunct exchange, to withdraw billions of dollars of customer funds, and some of the exchange’s U.S.-based employees were aware of it. In spring 2022, a group of employees at LedgerX discovered a backdoor in the system that allowed Alameda
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“Following a thorough internal investigation, LedgerX has found no evidence that any of its employees were aware of any reported code enabling Alameda to take FTX customer assets, and firmly denies any contrary allegation," Miami International Holdings, LedgerX's new owners, said in a statement to the WSJ. Original Source
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Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Tether’s latest audit report shows that the stablecoin issuer withdrew over $4.5 billion from banks in the first quarter to reduce counterparty risk following Circle’s troubles during the
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The launch of Ledger Recover, a service that allows users of the Ledger hardware wallet to back up their secret recovery phrases, met with immense resistance from the crypto community. Ledger co-founder and ex-CEO Éric Larchevêque took the criticism against Ledger as “a total PR failure, but absolutely not a
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The SEC’s Wahi case could be redundant, in part because “they’ve already been indicted by the DOJ,” Boring said. Still, in “no way, shape or form,” is the trade association “trying to downplay the seriousness of insider trading” she said. Source
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The research arm of cybersecurity software firm Check Point has flagged the Dingo Token (DINGO) as a “potential scam” after reportedly discovering a smart contract function that has been used to manipulate transaction fees.In a Feb. 3 blog post, Check Point Research (CPR) said it looked into the code behind the Dingo
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“A trusted-party vulnerability (also called a ’backdoor’) is an undisclosed capability of a trusted party, that can compromise the function of the system,” Prestwich explained in a tweet outlining his findings. According to Prestwich, LayerZero has the ability to unilaterally steal or move around funds locked up with platforms that
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