China’s Digital Yuan Crosses $1 Trillion Transactions, Topping USDC & USDT
China’s Digital Yuan has grown rapidly, with transaction volumes exceeding $1 trillion, beating the combined activity of USDC and USDT. China’s Digital Yuan has seen significant growth, with transaction volumes exceeding $1 trillion, surpassing the combined activity of stablecoins like USDC and USDT. This milestone comes after over a decade of development and four years […]
Friend.tech Team Face Rug Pull Allegations
After relinquishing control over the project’s smart contracts, the team behind Web3 social media platform Friend.tech faces allegations of rug pulling on the internet. The Friend.tech team disclosed on September 8 that it had configured the admin and ownership parameters to Ethereum’s null address. The team stated that this would prohibit future modifications to their […]
Unverified Contract Account Drains $1.4M from CUT Token Pools
On September 10, blockchain security platform Certik reported an attacker drained over $1.4M worth of Bows Coin Synthetic US Dollar (BSC-USD) from a liquidity pool that held CUT tokens The CUT token contract depended on a distinct, unverified contract to establish its “future yield” parameter. This contract was utilized to drain the BSC-USD using an […]
Nubank Suspends Native Crypto Token Trading
The largest crypto bank in Latin America, Nubank, announced the immediate suspension of trading for Nucoin, its native crypto, following the token value’s decline by more than 97% in the past year. On October 19, 2022, Nubank disclosed the establishment of the Nucoin token on the Polygon blockchain. The bank discontinued trading nearly two years […]
India Ranks First on Global Crypto Adoption Index
According to Chainalysis, India ranked first in the 2024 Global Crypto Adoption Index despite the local prohibition of offshore crypto exchanges. In its fifth annual Chainalysis Global Crypto Adoption Index, released on September 11, the blockchain analysis firm reported that India will continue to be the world’s largest crypto market in terms of adoption in […]