Impossible Finance loses $500k due to DeFi hacks on Binance Smart Chain
The newest DeFi exploit cost Impossible Finance $500,000 in losses. In a flash loan attack, Impossible Finance, a decentralized finance (DeFi) system on the Binance Smart Chain, was attacked for $500,000. A flash loan attack is a form of DeFi exploit in which hackers take an uncollateralized loan from a lending protocol and manipulate the market in their favor through a series of technological […]
Bakkt exchange launches its crypto debit card
The Bakkt Visa debit card, which is praised for allowing users to “exploit digital assets in their day-to-day lives,” is now accessible for online and in-store purchases. Bakkt, a subsidiary of the Intercontinental Exchange, has launched a debit card that allows clients to make retail purchases using cryptocurrency. Bakkt announced on Tuesday that it has launched a totally virtual Visa debit card that could be used both online and in stores. Cardholders can spend Bitcoin (BTC) directly from their Bakkt accounts without having to wait for the cryptocurrency to be converted to fiat currency. “Imagine a Bitcoin user who sees a significant gain,” said Bakkt CEO Gavin Michael. “Now, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they’ve been eyeing […] the Bakkt Card untethers Bitcoin […]
Swarm (BZZ) now listed on OKEx
According to OKEx CEO, “Swarm has provided a whole new viewpoint to the mining ecosystem”, this was after the token was listed on the network. Throughout the year, OKEx will continue to launch additional tokens. Mina Protocol MINA, as well as community vote winner meme tokens AKITA and KISHU, were recently listed on the crypto […]
See Why Bitcoin Short Positions At Bitfinex Closed Before Bitcoin’s Drop Below $32K
Why did the majority of Bitcoin short positions at Bitfinex close before the most severe section of the correction? Bitcoin still sticks in limbo, trading near $33,000 and stuck in a downturn which seemed to be getting worse by the day. Analysts have used a variety of technical and on-chain measures to try to figure […]
SEC charges ICO Issuer With Fraud For Issuing Out Unregistered Security
ICO fraudsters from the 2017-18 bull market are still being pursued by the SEC During the last major cryptocurrency bull market, initial coin offerings raised tens of billions of dollars. The Securities and Exchange Commission (SEC) of the United States has charged a cryptocurrency issuer with “materially false and misleading representations.” This is in relation […]