FreeCryptoCurrency.Me

The anetaBTC project aims to attract bitcoin liquidity to the Cardano ecosystem.

Hours after the open-source Chrome extension for Bitcoin ordinals became inaccessible, UniSat Wallet announced that it was hit by a large number of double-spend attacks resulting from a vulnerability in its codebase.

“During our testing last week, we simulated different approaches to double-spend attacks and made improvements and enhancements to the code,” UniSat Wallet explained on Twitter. “Unfortunately, certain problems were still exposed in the initial public version.”

A preliminary investigation by the extension’s team claims 70 transactions were affected out of 383. 

UniSat Wallet claims to be the first BRC-20 wallet and marketplace provider.

UniSat Wallet claims it will compensate users

UniSat Wallet stated that it will “compensate users who are determined to be associated with the incident for their losses” after further investigations over the next few days.

It also asked users who believe they were affected to open a support ticket on its Discord server.

“Please understand that BRC-20 is still very young and there have been numerous issues identified and resolved in the past 30 days,” UniSat Wallet tweeted.

“As the first BRC-20 wallet provider and the first marketplace provider, UniSat is constantly facing numerous issues and moving forward with your full support,” it added.

The BRC-20 token standard is a relatively new and experimental fungible token standard created using Ordinals and Inscriptions. These are saved on the Bitcoin blockchain.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

From a fundamental perspective the weaker correlation supports diversification arguments in favor of holding both BTC and ETH, the report said.

The FIX Protocol has added support for the Digital Token Identifier (DTI) to simplify and standardize communication for trading digital assets.

Crypto exchange Kucoin’s Twitter handle was compromised for 45 minutes today — leading to asset losses for multiple users.

“Kucoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity,” the exchange tweeted after regaining access to the Twitter account.

The exchange identified 22 transactions that interacted with the fraudulent tweets — resulting in a total loss of roughly 22,638 USDT. “To prevent more users from being harmed, we are currently examining and blocking suspicious addresses,” Kucoin tweeted.

Though Kucoin’s Twitter account was compromised, it claims assets on the exchange remain secure. It also claims to be “conducting a thorough investigation of the incident with Twitter to prevent similar occurrences in the future.”

Kucoin under the regulatory spotlight

In other Kucoin news, New York State Attorney General Letitia James sued the exchange last month, claiming it is an unregistered commodities and securities broker or dealer.

The crypto exchange “offered, sold and purchased and effected transactions in cryptocurrencies that were commodities and securities within New York, without having been registered as a commodity broker-dealer and securities broker or dealer in New York,” James argues in the suit brought against the Seychelles-based firm Thursday. 

Notably, the suit also listed ether as an unregistered security.

This article has been updated with information about Kucoin being sued by New York State Attorney General Letitia James.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A long-dormant Ethereum address that participated in the blockchain’s initial coin offering, or ICO, awoke after 7.7 years. It transferred one ether to a new address — which some speculate indicates a test transaction.

The wallet in question received 2,365 ether — worth approximately $4.42 million today — at Ethereum’s genesis, on-chain analysis account Lookonchain noted.

One ether cost roughly $0.31 during Ethereum’s ICO.

This story is developing and will be updated.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

ALSO: CoinDesk columnist David Morris writes that Taylor Swift’s avoided the embarrassment of striking a business deal with embattled crypto exchange FTX by reportedly asking the type of common-sense questions that should be part of any business negotiation.

Anthony Scaramucci’s Skybridge Capital firm is closely entwined with FTX, but the Mooch is not convinced the now-defunct crypto exchange is coming back any time soon.

“I don’t see how it’s possible to restart FTX,” Scaramucci said in an interview. “Not a lot of money is being made in these exchanges right now, and so a lot of these exchanges are in the red, and they’re burning off capital that they raised in these private placements, waiting for a new bull market to start and waiting for higher volume.”

Scaramucci, the financier who once served as Donald Trump’s White House communications director for 11 days and more recently appeared on the reality TV show “Special Forces: World’s Toughest Test,” made the comments on an episode of The Block’s The Scoop podcast with Frank Chaparro.

FTX, once valued at $32 billion, filed for bankruptcy protection after a run on its FTT token last year. New leadership steering the company through bankruptcy proceedings is exploring a possible restart of the crypto exchange, although a reboot would not happen until next year, if it happens at all. 

Scaramucci’s investment firm is closely linked to FTX. The crypto exchange bought a significant stake in Skybridge Capital, while Skybridge also invested in FTX. 

FTX reboot would be a ‘net positive’ for Skybridge

Although he’d like to buy back his interest in FTX, Scaramucci is doubtful that the exchange will rev back to life.

“I don’t see how they restart. I don’t see the positives to restarting, frankly. But you know, I’ve been wrong about so many things,” Scaramucci said, noting that any reboot of the exchange would require buy-in from creditors and a bankruptcy judge.

FTX’s lawyers have said they will explore a possible reboot, proposing a restructuring plan in July that explores a restart in the second quarter of next year. The plan would then be reviewed by creditors, and may be voted on in the first half of 2024. Mention of a possible reboot in bankruptcy court sent the price of FTT jumping earlier this month.

“If they do restore it, I see it as a net positive for Skybridge … That will mean that they’re profitable and we’ll hopefully be able to negotiate with them,” Scaramucci said. 

A more plausible scenario is that FTX will sell its software and licensure and open under a new brand, Scaramucci said. There is a small contingent of FTX customers who are hopeful the exchange can restart, despite the fact that three former FTX executives have pleaded guilty to criminal charges. Former FTX CEO Sam Bankman-Fried has pleaded not guilty and is awaiting an October trial. 

Scaramucci slams Gensler as ‘bad faith regulator’

The Skybridge Capital boss also weighed in Securities and Exchange Commission Chair Gary Gensler’s appearance before Congress last week. Republicans grilled Gensler on crypto during a House Financial Services Committee hearing.

Gensler’s stance toward the crypto industry could push more business offshore, Scaramucci warned. Just this week, Coinbase said it had obtained a license to operate in Bermuda, and could soon launch an offshore derivates exchange.

“Mr. Gensler is a bad faith regulator, and I think he’ll just delay the process of adoption for the U.S. and it’s sad, because other countries will take the lead and we’ll be missing out,” Scaramucci said. “The notion that you would kick crypto out of the country because you got embarrassed by Sam Bankman-Fried I think is an absolute absurdity.”

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Use of BAYC trademarks by Ripps’ RR/BAYC was intended to confuse consumers, a U.S. judge in California has ruled