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Bitcoin (BTC) starts the last week of January in fine form after sealing its highest weekly close in five months. Despite opposition, the largest cryptocurrency is holding on to its newfound strength and continues to surprise market participants.This is no mean feat — market sentiment has plenty to spook it and
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Moonstone Bank, a rural Washington state bank that received an estimated $11.5 million investment from FTX’s sister company, Alameda Research, says that it will be exiting the crypto space and returning to its “original mission” as a community bank. In a Jan. 18 statement, the bank said that the change in strategy
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"This decision follows a careful review by the Board of Directors and management and reflects recent developments in the crypto-asset industry, material changes in the regulatory environment regarding banks’ involvement in crypto-asset related businesses, and a strategic assessment of the business case for MCB’s further involvement at this time," the
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According to blockchain security company Certik, the number of cryptocurrency incidents involving exit scams, hacks, and code exploits in Dec. 2022 was the lowest monthly figure of the year. Certik noted that the combined incidents amounted to $62.2 million “lost to exploits, hacks, and scams.” Record Low Cyber Attacks in December
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The new year is a fresh start for malicious actors in the crypto space and 2023 won’t likely see a slowdown in scams, exploits and hacks, according to CertiK.The blockchain security company told Cryptox its expectations for the year ahead regarding bad actors in the space, saying:“We saw a large
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.For DeFi, the last week of 2022 saw another slew of exploits, insider job accusations and exit scam drama. It all started on Christmas, when
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Defrost Finance, the decentralized trading platform that suffered a $12 million exploit in the days leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.”On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining
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On Dec. 26, blockchain security firm CertiK issued a warning alleging that Defrost Finance, a decentralized leverage-trading platform on the Avalanche blockchain that recently suffered an exploit, is an “exit scam.” The move came just as Defrost announced that “the hacker involved in the V1 hack [but not the v2
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Bitcoin (BTC) ranged around $16,500 on Nov. 17 as markets digested the latest events surrounding exchange FTX.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFTX CEO tells of “complete failure of corporate controls”Data from Cryptox Markets Pro and TradingView showed BTC/USD seeing only mild volatility at the Wall Street open.The pair showed
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