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An Asian cryptocurrency exchange’s funds have been compromised in a security breach.The Singapore-headquartered digital asset exchange KuCoin said in a statement that it detected large withdrawals of bitcoin and ethereum tokens to an unknown wallet beginning at 19:05 UTC time on Friday. In a live stream on 4:30 UTC time Saturday,
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Eterbase, a Slovakia-based crypto exchange, was recently the victim of a $5M hack. According to an update from Eterbase, some of these funds appear to have ended up on a number of popular exchanges, including Binance, Huobi Global, and HitBTC.Binance CEO's Changpeng Zhao, or CZ, seemed to support efforts to
Read MoreThe rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators' money."A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol," media outlet ZyCrypto wrote
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After laying off a third of its staff in April, the project is looking for ways to increase the “diversity of funds" in its budget. Source
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Crypto exchange Shakepay, which describes itself as “Canada’s fastest-growing bitcoin platform,” conducted a “proof-of-reserves” audit and acquired an insurance policy to reinforce its security, perhaps learning a lesson from fellow Canadian platforms QuadrigaCX, Einstein and Coinsquare, which all lost customer funds or have otherwise been involved in scandals over the
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The total value of capital locked in decentralized finance (DeFi) protocols has increased 271% in less than two months to surpass $7 billion for the first time, according to DeFi Pulse.If the current rate of growth continues, DeFi will be worth more than $27 billion by the end of 2020.Aave
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The funds likely boosted short positions to take advantage of attractive "cash and carry" yields. Source
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Wirecard chief operating officer Jan Marsalek reportedly used Bitcoin (BTC) to move funds from Dubai to Russia.Russian media outlet Kommersant reported on July 20 that Marsalek is hiding in Russia with funds that he was able to transfer there with the cryptocurrency.Per the report, Marsalek is currently in a private
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Leading cryptoasset risk management solutions Elliptic
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A Texas resident was charged by the U.S. Attorney for the Southern District of Texas on July 14. Allegations suggest that he fraudulently filed loan applications for $1.1 million through the Paycheck Protection Program, or PPP. He claimed he was seeking COVID-19 relief, but allegedly actually used the funds to
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