Tag: Ethereum

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BNB Chain Launches $10M Fund – Top Crypto Updates

BNB Chain launches $10M fund

BNB Chain, one of the world’s most actively used blockchains, has introduced a $10 million fund to help projects with user acquisition and growth. The Growth Incentive Program will initially support 10 projects in the fourth quarter, with gas incentives of up to 800 BNB tokens a month in total.

Individual projects can receive $1 million a month to cover fees spent on gas (the transaction fee paid to blockchain network validators for their services).

Crypto prices today: Bitcoin up 4.5%, ETH jumps 11%

Bitcoin is currently trading at $20,220.56, an increase of 4.58% over the previous day. Ethereum surged 11% over the last 24 hours to $1,496.26. Solana rose 9.32% to $31.18, while Cardano is trading higher by 12.5% at $0.406. Avalanche (AVAX) is up 8.4% to $17.12. The global crypto market cap stands at $980.42 billion, a 5.16% increase over the previous day.

Singapore central bank proposes measures on crypto trading

Singapore’s central bank has put forward proposals for new regulatory measures on crypto trading and stablecoins. It aims to reduce the risk of consumer harm from the volatility of the crypto industry. The measures published in two consultation papers include banning businesses from lending out cryptos owned by retail customers and ensuring customer assets are segregated from their own assets.

UK lawmakers vote to recognize crypto as regulated financial instruments: Report

Lawmakers in the United Kingdom voted in favor of recognizing crypto assets as regulated financial instruments in the country. The draft bill includes measures to extend existing regulations to payments-focused stablecoins. [Stablecoins are cryptos pegged to the value of other assets like the U.S. Dollar or gold]. The Financial Services and Markets bill now heads to the House of Lords.

Crypto markets see largest short liquidations in 15 months

Crypto markets saw over $700 million in liquidations on short trades today, reaching levels not seen since July 2021. Short trades are essentially bets against price rises. The liquidations may have contributed to a short squeeze, as prices of several tokens jumped in the past 24 hours. Longs, or traders betting on higher prices, saw an additional $100 million in liquidations amid short-term price volatility.

To learn more about short selling, click here.

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NEAR Protocol to Shut Down Stablecoin – Top Crypto Updates

NEAR Protocol to shut down stablecoin

NEAR Protocol’s stablecoin (USN) is being shut down after it began to exhibit risky characteristics similar to those observed with TerraUSD (USDT). USDT had completely failed this year, and investors lost billions of dollars. The Near Foundation is also setting aside $40 million to fund a “USN Protection Programme.”

The creators of USN contacted Near Foundation to advise that the stablecoin had become undercollateralized, a condition that is “inherent” with algorithmic stablecoins, especially in “extreme market conditions.”

Crypto prices today: Bitcoin falls 0.1%, ETH up 0.4%

Bitcoin is currently trading at $19,305.28, a decline of 0.12% over the previous day. Ethereum is up 0.38% over the last 24 hours to $1,347.41. Solana fell 0.74% to $28.46, while Cardano is trading lower by 0.16% at $0.36. Avalanche (AVAX) fell 1.44% to $15.77. The global crypto market cap stands at $931.43 billion, a 0.02% increase over the previous day.

Aave launches staked Ethereum earn strategy via Oasis

Aave has launched a Lido Staked Ethereum (stETH) earn strategy through Oasis.app, the frontend for borrowing DAI (MakerDAO’s stablecoin). The new strategy will allow users to borrow Ethereum (ETH) against their stETH. Oasis will allow users with ETH to enter into the strategy in a single transaction by using the Aave protocol.

Aave is the fourth largest decentralized finance (DeFi) platform. It accounts for $5 billion worth of total value locked across several lending protocols.

Apple bans using NFTs to unlock content, features in apps

Apple has clarified its App Store rules around non-fungible tokens (NFTs) and crypto exchanges. The new rules confirm that NFT purchases will be taxed at 30%, while also clarifying rules around when a crypto exchange app can be listed. The Oct. 24 update to its App Store guidelines saw language added that allows for in-app purchases of NFTs, but bars any NFTs acquired elsewhere from being used for anything other than viewing. 

Web3 can add $1.1 trillion to India’s GDP: Report

According to a new report from the Indian tech industry association Nasscom, the Web3 industry can add as much as $1.1 trillion to India’s GDP by 2032. The massive value-add to the economy will come as India continues on its path as a leading global player for Web3, both on the development and adoption side. Web3 investments in the country have surged 37 times from the start of 2020 to the first quarter of 2022.

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Nubank to Launch its Own Crypto in Brazil – Top Crypto Updates

Nubank to launch its own crypto in Brazil

Brazilian digital banking startup Nubank will launch its own crypto in the country next year, marking the latest move into digital assets by a large financial institution. The Warren Buffet-backed firm said the new token (called Nucoin) will act as a way to recognize customer loyalty and encourage engagement with Nubank products. It also plans to offer discounts and other perks to holders of the token.

Crypto prices today: Bitcoin, ETH down 0.6%

Bitcoin is currently trading at $19,039.27, a decline of 0.6% over the previous day. Ethereum is down 0.57% over the last 24 hours to $1,285.68. Solana fell 4.32% to $27.99, while Cardano is trading lower by 4.25% at $0.348. Avalanche (AVAX) fell 1.58% to $15.02. The global crypto market cap stands at $912.64 billion, a 0.93% decline over the previous day.

Fidelity to roll out ETH trading for institutions next week

Institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) beginning Oct. 28. The move is the latest step towards making crypto available to institutional clients by Fidelity, the parent company of Fidelity Digital Assets. Earlier this month, the asset management firm said it started a new Ethereum Index Fund for accredited investors.

Kraken to comply with EU sanctions against Russia

Crypto exchange Kraken confirmed that it will be conforming to the European Union’s new sanctions package. The company’s announcement comes after the EU introduced a fresh sanctions package on Oct 6 aimed at punishing Russia for its aggression against Ukraine. The latest sanctions enforce a blanket ban on all payments flowing from the EU to Russia.

Tether USDT to be Available from 24,000 ATMs across Brazil

Tether plans to make its USDT token available at over 24,000 ATMs across Brazil. USDT is the world’s dominant stablecoin by market capitalization. To expand USDT’s presence in the country, Tether has partnered with payments company SmartPay. Stablecoins like USDT are typically tied to the value of the US dollar and collateralized by real-world assets audited by financial institutions in the US. 

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South Africa Moves to Regulate Crypto Assets – Top Crypto Updates

South Africa moves to regulate crypto assets

South Africa’s Financial Sector Conduct Authority (FSCA) has classified cryptocurrency assets as financial products. The FSCA referred to crypto assets as “a digital representation of value” that can be electronically traded, transferred, and stored but is not issued by a central bank. Crypto asset service providers (CASP), such as exchanges, must now apply for licenses.

Crypto prices today: Bitcoin, ETH down 0.5%

Bitcoin is currently trading at $19,132.6, a decline of 0.51% over the previous day. Ethereum is down 0.51% over the last 24 hours to $1,292.06. Solana fell 2.27% to $29.25, while Cardano is trading lower by 1.17% at $0.353. Avalanche (AVAX) fell 1.56% to $15.28. The global crypto market cap stands at $920.34 billion, a 0.44% decline over the previous day.

Helius raises $3.1M to make Solana app building ‘faster and cheaper’

Helius, a Solana infrastructure startup, raised $3.1 million to provide the tools to help developers build Web3 applications in less time and for less money. The development platform was co-founded by former Coinbase and Amazon engineers. Helius aims to help creators by providing application programming interfaces (APIs) to understand on-chain data & query transactions and also webhooks that enable automation and bots.

Ethereum NFT marketplace Blur launches with free airdrop

VC-backed marketplace Blur went live on Wednesday. It has promised new users free crypto in the form of an airdropped gift that contains an undisclosed amount of BLUR tokens. Users may be eligible for the free airdrop if they have traded an NFT within the past six months. Blur calls itself the NFT marketplace for “pro traders,” offering an aggregation feature, portfolio analytics, and zero marketplace fees.

Reddit users open 2.5 million crypto wallets after launch of NFT platform

The users of social network Reddit have opened over 2.5 million crypto wallets on the platform since the company released its NFT marketplace in July. The NFT marketplace requires users to set up a Reddit Vault Wallet to purchase and store tokens. The wallet allows users to manage community points stored on-chain that can be used for in-app purchases.

Reddit claims it has 50 million daily active users and grossed over $350 million in earnings last year.

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EU to Roll Out Energy Efficiency Labels for Blockchains – Top Crypto Updates

EU to roll out energy efficiency labels for blockchains

The European Union is set to develop an energy efficiency label for blockchains. It has introduced this measure as part of wider plans to control the energy consumption of the Information and Communications Technology (ICT) sector. The EU’s Markets in Crypto Asset Regulation (MiCA) will also force some market participants to make disclosures about their environmental and climate footprint.

Crypto prices today: Bitcoin falls 2%, ETH down 2.8%

Bitcoin is currently trading at $19,219.7, a decline of 2% over the previous day. Ethereum is down 2.83% over the last 24 hours to $1,296.92. Solana fell 3.65% to $29.89, while Cardano is trading lower by 3.6% at $0.357. Avalanche (AVAX) fell 4.46% to $15.52. The global crypto market cap stands at $925.02 billion, a 1.18% decline over the previous day.

Bluesky unveils roadmap for decentralized social networks

Twitter co-founder Jack Dorsey’s Bluesky initiative launched a website for its decentralized social media protocol, known as the AT Protocol. It will allow users of social networks built on top of the protocol to protect their private data and avoid corporate algorithms that often promote controversy to keep users hooked.

Bluesky also opened a waitlist for its app, which is framed as the “ideal browser” to access the AT Protocol network.

Crypto will play vital role in payments disruption: Walmart CTO

“Crypto falls into one of the major areas of payments disruption and will become an important part of how customers transact,” said Suresh Kumar, the global Chief Technology Officer (CTO) at retail giant Walmart. He also suggested that part of that disruption will happen in the metaverse— on live streams in your social media apps.

At the end of last year, Walmart filed several new trademarks related to cryptocurrency and the metaverse.

Moola Market loses over $10M in market manipulation attack

Celo-based lending and borrowing protocol Moola Market saw over $10 million worth of tokens stolen after a market manipulation attack. However, the attacker returned the tokens later. The attackers manipulated the prices of Moola’s native MOO tokens to borrow collateral against their positions– effectively draining the protocol.

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Mastercard to Launch Crypto Trading for Banks – Top Crypto Updates

Mastercard, Paxos to launch crypto trading for banks

Mastercard plans to launch a new program called Crypto Source that will make it easier for banks and other financial institutions to offer crypto trading. The program will act as a “bridge” between the crypto trading platform Paxos and banks. Paxos will undertake crypto custody and trading services, while Mastercard will integrate these services into banks’ interfaces.

Crypto prices today: Bitcoin up 1.7%, ETH rises 1.9%

Bitcoin is currently trading at $19,600.52, an increase of 1.72% over the previous day. Ethereum is up 1.89% over the last 24 hours to $1,334.07. Solana rose 2.5% to $31, while Cardano is trading higher by 0.77% at $0.370. Avalanche (AVAX) rose 2.5% to $16.24. The global crypto market cap stands at $937.3 billion, a 1.5% increase over the previous day.

Binance to launch cloud mining business in November

The world’s largest crypto exchange by volume, Binance, plans to offer a crypto cloud mining product next month. Recently, Binance Pool announced its own $500 million lending fund for Bitcoin miners and said it would enter cloud mining, a service that allows investors to rent crypto mining machines.

Aptos Blockchain faces issues on debut

Aptos, a new Layer 1 blockchain established by former Meta employees, is not living up to its expectations according to on-chain data from its first day of transactions. On-chain data from Aptos’ block explorer shows that the protocol is currently processing just four transactions per second.

During the development process, the Aptos team said that its parallel execution engine was capable of processing 160,000 transactions per second (far above Solana’s advertised 65,000 per second).

SEC, CFTC probing Three Arrows Capital: Report

Bloomberg reported that the Commodity Futures Trading Commission (CFTC) and the Securities & Exchange Commission (SEC) are examining whether bankrupt crypto hedge fund Three Arrows Capital violated rules by misleading investors about its balance sheet and not registering with the two agencies.

The Singapore-based company filed for bankruptcy in July. It stated that its business had “collapsed in the wake of extreme fluctuations in crypto markets.”

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MetaMask Adds Instant Bank-to-Crypto Transfers – Top Crypto Updates

MetaMask adds instant bank-to-crypto transfers

MetaMask users will now be able to fund their crypto wallets via bank transfers instantly. Users can now convert their fiat into crypto through an integration with fintech firm Sardine. Sardine set a purchase limit of up to $3,000 per day, $5,000 per week, and $25,000 per month for more than 30 tokens. ConsenSys, the blockchain technology company behind Metamask, also participated in Sardine’s recent funding round.

Crypto prices today: Bitcoin up 0.7%, ETH rises 2%

Bitcoin is currently trading at $19,282.86, an increase of 0.72% over the previous day. Ethereum is up 2% over the last 24 hours to $1,310.43. Solana rose 1.66% to $30.27, while Cardano is trading higher by 0.16% at $0.368. Avalanche (AVAX) rose 1.82% to $15.87. The global crypto market cap stands at $923.46 billion, a 0.71% increase over the previous day.

India aims to develop crypto SOPs during G20 presidency

India’s Finance Minister, Nirmala Sitharaman, revealed the government’s plan to develop standard operating procedures (SOPs) for crypto during its G20 presidency from Dec 1, 2022, to Nov. 30, 2023. She further highlighted the use of crypto assets in money laundering as detected by the Enforcement Directorate (India’s law enforcement agency). The minister had previously called for global collaboration to decide on crypto’s future and has been cautious against mainstream crypto adoption.

North Korean hacker group Lazarus targets Japanese crypto firms

North Korean hacker group Lazarus has attacked several Japanese crypto funds through phishing and social engineering. A report by Japan News stated that some companies have had their internal systems hacked and some cryptocurrency has been stolen.

Phishing is a form of hack that involves a malware-infected link being sent to a victim, a virus will be installed on the targeted computer when the link is clicked. Lazarus is said to have been sharing these links via email and social media.

NFT marketplace Magic Eden moves to optional royalty model

Solana non-fungible token (NFT) mainstay Magic Eden is moving to an optional royalty model. The company will also be waiving its 2% platform fee. The company also said it’s allocating $1 million towards a fund to create better royalty enforcement tools and hopes to experiment with “new models outside of royalties” in the future. 

Société Générale’s crypto division secures regulatory approval in France

SG Forge, the crypto subsidiary of multinational financial services firm Société Générale, has secured regulatory approval from the French financial regulator (AMF) for activities related to trading crypto. Its registration covers the custody, purchase, sale, and exchange of digital assets.

The company had recently announced a partnership with Swiss custody specialist Metaco to focus on growing its security tokens offering. 

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Binance Pool Starts $500M Fund to Support BTC Mining – Top Crypto Updates

Binance Pool starts $500M fund to support Bitcoin mining

Binance Pool has started a $500 million lending project for private and public miners. The miners will need to pledge security in the form of physical or digital assets for the loan, which will have a duration of 18-24 months. It will charge interest rates that range from 5% to 10%. Binance Pool also plans to roll out cloud mining products.

Crypto prices today: Bitcoin up 3.5%, ETH rises 3.2%

Bitcoin is currently trading at $19,705.15, an increase of 3.52% over the previous day. Ethereum is up 3.21% over the last 24 hours to $1,323.05. Solana rose 4.2% to $31.37, while Cardano is trading higher by 4.77% at $0.382. Avalanche (AVAX) rose 5.7% to $16.16. The global crypto market cap stands at $938.04 billion, a 3.2% increase over the previous day.

Uniswap raises $165M in new funding

Ethereum decentralized exchange (DEX) Uniswap raised $165 million in its latest funding round led by Polychain Capital. The latest round gives Uniswap a $1.6 billion valuation. A DEX is an application that lets users trade crypto directly with each other without using an intermediary. Uniswap is an Ethereum-based DEX that allows users to swap ERC-20 tokens. Since its launch, Uniswap has supported $1.2 trillion in trading volume.

CoinShares creates Twitter Bot that gives traders ‘fair prices’ for NFTs

Crypto asset investment and trading group CoinShares has launched an experimental Twitter bot, CoinSharesNFTAI, that can calculate a “fair price” for a given NFT. The bot aggregates data and tells users at what price a specific NFT could be bought or sold. The CoinShares NFT bot currently only supports pricing data for 50 NFT collections.

October ‘biggest month’ ever for crypto hackers: Chainalysis

With a total hacked value of about $718 million for the month, blockchain analytics company Chainalysis has dubbed October 2022 as “the biggest month in the biggest year ever for hacking activity.” Hundreds of millions had been taken advantage of through 11 distinct hacks on decentralised finance (DeFi) protocols. At the current rate, 2022 might surpass last year’s record since over $3 billion has been abused over 125 hacks.

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Google Partners With Coinbase to Accept Crypto Payments – Top Crypto Updates

Google partners with Coinbase to accept crypto payments

Google Cloud has partnered with crypto exchange Coinbase to drive Web3 innovation. The tech giant will receive crypto payment via an integration with Coinbase. Crypto payments will initially be rolled out to a handful of customers involved in the Web3 industry. Google will also use Coinbase’s custody service, Coinbase Prime.

Under the agreement, Coinbase will use Google Cloud to build its advanced exchange, grow data services, and process blockchain data at scale.

Crypto prices today: Bitcoin falls 0.5%, ETH down 1.1%

Bitcoin is currently trading at $19,031.7, a decline of 0.54% over the previous day. Ethereum is down 1.13% over the last 24 hours to $1,281.16. Solana fell 3.98% to $30.07, while Cardano is trading lower by 7.18% at $0.365. Avalanche (AVAX) fell 4.69% to $15.28. The global crypto market cap stands at $908.69 billion, a 1.62% decline over the previous day.

Crypto.com enters France, invests $145M in Paris HQ

Crypto platform Crypto.com will set up its European regional headquarters in Paris. The firm will invest 150 million euros ($145.7 million) in France to support the establishment of its market operations. The cash will go towards setting up its European HQ in the capital and hiring local talent in the fields of compliance, business development, and product.

Last month, France’s market authority AMF gave Crypto.com regulatory approval, registering it as a digital asset service provider. 

Crypto platform Pillow raises $18 million in Series A round

Crypto investment platform Pillow (run by Pillow Digital Technologies Pte Ltd) has secured funding of $18 million in a Series A round co-led by Accel, Quona Capital, and Jump Capital. The digital personal finance platform aims to accelerate the adoption of crypto services in emerging economies including those in Africa and Southeast Asia.

Indian crypto exchanges praise OECD reporting framework

Indian crypto exchanges are cheering the new tax reporting framework released by the Organization for Economic Co-operation & Development (OECD). The framework ensures “the collection and automatic exchange of information on transactions for relevant crypto assets”. It covers exchanges, brokers, and ATM operators that facilitate exchanges between crypto assets.

Crypto exchanges are also hoping the Crypto-Asset Reporting Framework (CARF) of the OECD will prompt the Indian government to frame its own regulations and lower taxes, helping revive the crypto market.

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OpenSea Adds Avalanche NFT Support – Top Crypto Updates

OpenSea adds Avalanche NFT support

OpenSea has added non-fungible tokens (NFTs) from the Avalanche blockchain to its online marketplace. Avalanche is an open-source network with the native token AVAX and three different blockchains, one of which is called the C-Chain. The C-Chain is optimized for Ethereum compatibility and smart contracts, which NFTs use. OpenSea currently features 200 Avalanche-native collections. 

Crypto prices today: Bitcoin up 0.4%, ETH rises 1.4%

Bitcoin is currently trading at $19,133.85, an increase of 0.4% over the previous day. Ethereum is up 1.43% over the last 24 hours to $1,296.83. Solana fell 0.6% to $31.33, while Cardano is trading lower by 0.54% at $0.394. Avalanche (AVAX) rose 0.333% to $16.04. The global crypto market cap stands at $923.8 billion, a 0.52% increase over the previous day.

SEC investigating Yuga Labs over securities violations: Report

As per a Bloomberg report, the US Securities & Exchange Commission (SEC) is investigating Yuga Labs over whether its Bored Ape Yacht Club Ethereum NFTs and the ApeCoin token are unregistered securities. The report claims that SEC is exploring whether the crypto startup broke federal law by issuing NFTs that act like stocks. It is also probing the distribution of the Ethereum-based ApeCoin token that launched earlier this year. 

Crypto firm 21Shares lists Bitcoin ETP on Nasdaq Dubai

Crypto investment products firm 21.co’s subsidiary, 21Shares AG, has listed a Bitcoin exchange-traded product (ETP) on Nasdaq Dubai. It is the Middle East’s first physically-backed Bitcoin ETP. The 21Shares Bitcoin ETP trades in the same way as the 21Shares Bitcoin ETP in Europe. Following the Dubai listing, 21Shares has 46 listed products across seven countries.

Solana DeFi trading platform Mango Markets loses $100M in hack

Mango Markets, a decentralized platform hosted on the Solana blockchain, faced an exploit for over $100 million. Mango’s token MNGO was severely impacted and crashed over 40% in the past 24 hours. According to the blockchain auditing website OtterSec, the attacker temporarily drove up the value of their collateral and then took out loans from the Mango treasury.

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EU Lawmakers Pass Crypto Assets Regulation Bill – Top Crypto Updates

EU lawmakers pass Crypto Assets Regulation Bill

European Union lawmakers have signed the Markets in Crypto Assets Regulation (MiCA)— landmark legislation that hopes to regulate the digital asset space within the union. The MiCA bill asks those issuing crypto to publish a “crypto-asset white paper” containing information about their project.

The EU Parliament also passed an anti-money laundering bill that requests crypto transfers include data on the payer and payee. 

Crypto prices today: Bitcoin down 1.7%, ETH falls 2.8%

Bitcoin is currently trading at $19,090.06, a decline of 1.71% over the previous day. Ethereum is down 2.77% over the last 24 hours to $1,281.75. Solana fell 4.2% to $31.55, while Cardano is trading lower by 6.17% at $0.396. Avalanche (AVAX) fell 5.4% to $16.01. The global crypto market cap stands at $919.65 billion, a 2.39% decline over the previous day.

Portugal plans to impose 28% tax on crypto gains

The Portuguese government has proposed a new crypto tax policy that would take effect as part of its 2023 national budget. It will impose a 28% capital gains tax on cryptocurrency gains made within one year. However, gains realized after one year of holding the crypto assets will be exempt from such a tax. The government also intends to impose a 4% tax on any free crypto transfers.

Coinbase gets Singapore digital payment token license

The Monetary Authority of Singapore (MAS) has granted Coinbase in-principal approval for a digital payment token (DPT) license to operate in Singapore. The central bank has given out 17 in-principle approvals and licenses for DPT platforms under the Payment Services Act.

Bitcoin mining difficulty rises 14%, hits all-time high

Bitcoin mining difficulty hit a new all-time high of 35.61 trillion hashes on Monday, rising over 13.55% from the previous measure. New miners continue to join the network while existing miners ramp up their operations. The climbing difficulty comes in response to a total network hash rate of 257 exahashes per second (EH/s), which is near the record high that was reached last week. 

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India to Test ‘E-Rupee’ Soon – Top Crypto Updates

India to test ‘E-Rupee’ digital currency soon

The Reserve Bank of India has proposed a phased pilot of its version of a Central Bank Digital Currency (CBDC). In a paper released on Friday, the RBI outlined its vision for a digital version of the rupee, referred to as the “e-rupee”. It also explained its rationale for implementing a CBDC and how it would be tested in phases.

The RBI is considering the release of two versions of a CBDC: one that would be used by people for making retail payments and another that would be used for the settlement of transfers between banks and wholesale transactions.

Crypto prices today: Bitcoin remains flat, ETH up 0.1%

Bitcoin is currently trading at $19,425.81, an increase of 0.01% over the previous day. Ethereum is up 0.14% over the last 24 hours to $1,318.69. Solana rose 0.65% to $32.92, while Cardano is trading higher by 0.06% at $0.422. Polkadot (DOT) rose 1.19% to $6.42. The global crypto market cap stands at $941.75 billion, a 0.13% increase over the previous day.

Huobi founder sells Bitcoin exchange to Hong Kong investment firm

Leon Li Lin, the Chinese founder of Seychelles-based crypto exchange Huobi Global, is selling his controlling stake to a Hong Kong investment firm called About Capital. An agreement has been reached between both parties that will leave “no impact on Huobi’s core operation and business management teams.” Under new ownership, the exchange is planning an international expansion.

Binance faces second-largest crypto hack ever

Crypto exchange Binance had more than 2 million of its BNB tokens stolen in a hack Thursday night. It’s the second-largest exploit in crypto history, worth nearly $570 million based on Friday morning prices. The hacker exploited a vulnerability in the Binance Bridge (which connects blockchain networks) to send themselves 1 million BNB tokens twice in two transactions.

Blockwater Technologies defaults on DeFi loan

South Korean blockchain investment firm Blockwater Technologies defaulted on a loan from TrueFi, a decentralized lending protocol. According to a statement, TrueFi issued a “notice of default” to Blockwater on Oct. 6 after it failed payment on a $3.4 million loan in Binance USD (BUSD) stablecoin. TrueFi said it remains in “active discussions” with Blockwater and said that its insolvency does not affect the protocol’s other lending pools.