FreeCryptoCurrency.Me

Free stocks and money too!

Category Archive : Crypto News

KuCoin has recovered 84% of affected funds in $280M hack, co-founder says

KuCoin, the crypto exchange that suffered from a $280 million hack in September, has recovered a majority of the affected assets, according to its co-founder.

Johnny Lyu, KuCoin’s co-founder and CEO, said in a Tweet on Wednesday that 84% of the affected assets have been recovered via “approaches like on-chain tracking, contract upgrade and judicial recovery.” 

He added that the details of the recovering process can’t be disclosed until the case is closed as per requirement from law enforcements. Lyu said KuCoin has so far resumed the services for 176 tokens on the platform and the services for all remaining assets will resume before November 22. 

A majority of KuCoin’s stolen funds in September were ERC-20 tokens (worth $147 million), Stellar tokens (worth $87 million) and bitcoin (worth $30 million).

The Block reported previously that within days after the hack, over $160 million worth of tokens had already been recovered through either protocol projects’ forking, redeploying the contracts or blocking the hacker’s address. 

Lyu’s note comes about 6 days after the KuCoin hacker’s Ethereum address initiated dozens of transactions with ERC-20 tokens to another Ethereum address that starts with 0xd32dbed, which now has a balance of $13.6 million worth of ERC-20 tokens.

Hours before Lyu’s Tweet on Wednesday, the 0xd32dbed address further sent several transactions with ERC-20 tokens to another address that starts with 0xd6216fc, which currently has a balance of over $110 million worth of ERC-20 tokens. 

© 2020 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.

Go to Source
Author: Wolfie Zhao

Exchange Tokens Are Skyrocketing as They Act More Like Equity; That Could be a Problem

Centralized exchange tokens have been skyrocketing this year, but there is one problem behind the astonishing performance: they are becoming more equity alike.

Go to Source
Author: Muyao Shen

Ethereum Service Providers Experiencing Issues After Reported Blockchain Split

The Ethereum blockchain network looks to be suffering issues Friday morning, with knock-on effects at related service providers.

Go to Source
Author: Daniel Palmer

World’s Second Biggest Bank to Issue $3B in Bonds Tradable for Bitcoin

China Construction Bank will issue the debt securities over a blockchain, with trading to be available against bitcoin and U.S. dollars via an exchange partner.

Go to Source
Author: Sebastian Sinclair

Ethereum infrastructure provider Infura is down, crypto exchanges begin to disable ETH withdrawals

Ethereum infrastructure provider Infura is currently facing a service outage, causing a delay in price feeds of ether (ETH) and ERC-20 tokens of some services. 

The issue has also caused crypto exchanges, such as Binance, to disable ETH and ERC-20 tokens withdrawals. The popular Ethereum wallet MetaMask is also having issues since Infura is its default service provider.

This is a breaking story and will be updated

© 2020 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.

Go to Source
Author: Yogita Khatri

Cyberattackers Demand $11M in Bitcoin From Japanese Gaming Giant Capcom

Japanese gaming giant Capcom’s networks have reportedly come under attack, with criminals demanding a bitcoin ransom in exchange for not leaking confidential company information to the public.

Go to Source
Author: Sandali Handagama

Joe Biden transition team adds former CFTC chair and crypto-focused academic Gary Gensler

Gary Gensler, who chaired the Commodity Futures Trading Commission (CFTC) during the Obama administration, will lead the financial policy transition team for projected U.S. president-elect Joe Biden.

CoinDesk confirmed the move today after the Wall Street Journal reported on Friday that Biden was expected to bring on Gensler.

As CFTC chair, Gensler oversaw substantial reforms to the financial derivatives market mandated under the 2010 Dodd-Frank act. But more relevant to cryptocurrency users is his most recent posting at MIT, where he is a professor of global economics at the business school and senior advisor to the MIT Media Lab’s influential Digital Currency Initiative.

While at MIT, Gensler has become known in crypto circles for his savviness about cryptocurrencies and blockchains and his opinions on the regulatory status of certain currencies, including XRP and Ether, which he once suggested both might be securities.

© 2020 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.

Go to Source
Author: Mike Orcutt

Fiat Freeway: CBDC story time with the Federal Reserve

Quick Take

  • Fiat Freeway is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins.
  • Last week’s column focused on the European Central Bank’s increasing CBDC outreach efforts.
  • This week’s journey takes us across the Atlantic to review a FEDS note on important themes from CBDC literature.
  • Lastly, a compelling Twitter debate on the origin of CBDC ties it all together. 

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Go to Source
Author: Mike Rogers

Ethereum 2.0 Deposit Contract Tops $22.5M One Week After Launch

The deposit contract for Ethereum’s 2.0 upgrade now holds over 50k ETH – 10% of the threshold needed to activate the watershed update.

Go to Source
Author: Colin Harper

Nearly $360M in Bitcoin Moved to Ethereum in October Despite DeFi Cool Off

October’s growth is less than half of September’s 68,000 newly tokenized bitcoins.

Go to Source
Author: Zack Voell