Multichain Suspends Services Following $126M Exploit
Multichain (MULTI), a cross-chain protocol, has suspended operations today after verifying the erroneous payment transfers from its MPC address. According to blockchain security company Peckshield, Multichain was hacked for $126 million, with money being transferred between its Fantom (FTM) and Moonriver (MOVR) bridge by the assailant. Multichain recommended that users cancel any protocol-related approvals after […]
Gemini lawsuit accuses Barry Silbert, Digital Currency Group of fraud
Gemini Trust Company has sued Digital Currency Group and CEO Barry Silbert for fraud, according to a complaint filed Friday. Cameron Winklevoss, the co-founder of Gemini, has disclosed that they have sued the Digital Currency Group (DCG) and its leader Barry Silbert individually. According to the lawsuit, DCG and Silbert were charged with defrauding the […]
Circle Launches Wallet-as-a-service Developer Platform
Circle, has announced the beta testing of a new service that allows programmers to incorporate web3 wallets into their applications. Developers are the target audience for a wallet-as-a-service initiative launched by USDC stablecoin issuer Circle. The ground-breaking service offers a framework for programmers to incorporate web3 wallets into their applications easily and boasts a user-friendly […]
Namibia Passes Bill to Regulate Crypto, Digital Assets
By passing a bill in the National Assembly, Namibia joined other African countries in adopting cryptocurrencies and digital assets. The measure, which was approved by Namibia’s lower house of parliament on June 22, proposes to control virtual asset service providers (VASPs), digital assets, and cryptocurrencies in the nation. The law intends to create a framework […]
Bittrex May Still be Subject to Enforcement Action in Florida
The United States-based cryptocurrency exchange Bittrex, which filed for Chapter 11 bankruptcy protection in May, is being investigated by the Florida Office of Financial Regulation. Brandon Greenberg, assistant general counsel for the Florida Office of Financial Regulation (OFR), stated in a document filed on July 5 with the U.S. Bankruptcy Court for the District of […]