🗓 In 2022, there were 359 different incidents in the crypto industry, including hacks and bankruptcies, which caused a combined damage of more than $63.9 billion, HAPI Labs researchers reported.
📉 According to their calculations, 188 cases are directly related to hacker attacks, 133 of which occurred in the DeFi segment. The remaining 171 incidents include bankruptcies, exit scams and other fraudulent activities by companies. At the same time, 154 cases (90%) fell on the classic rug pull schemes.
The six major bankruptcies of 2022 accounted for $57.6 billion in losses, or 90.2% of the total. 5 out of 6 incidents are related to custodial platforms.
📉 According to their calculations, 188 cases are directly related to hacker attacks, 133 of which occurred in the DeFi segment. The remaining 171 incidents include bankruptcies, exit scams and other fraudulent activities by companies. At the same time, 154 cases (90%) fell on the classic rug pull schemes.
The six major bankruptcies of 2022 accounted for $57.6 billion in losses, or 90.2% of the total. 5 out of 6 incidents are related to custodial platforms.
🐋 Despite the crypto winter, about 82% of millionaires have been interested in including digital assets in their portfolios over the past 12 months, financial services provider deVere Group said.
✅ Clients interviewed pointed to a surge in interest in cryptocurrencies from major Wall Street players and asked personal advisors for advice on investing in cryptocurrencies.
💬 “Wealthy investors are realizing that digital currencies are the future of money,” said Nigel Green, founder of the deVere Group.
✅ Clients interviewed pointed to a surge in interest in cryptocurrencies from major Wall Street players and asked personal advisors for advice on investing in cryptocurrencies.
💬 “Wealthy investors are realizing that digital currencies are the future of money,” said Nigel Green, founder of the deVere Group.
⚡️ The Waves team changed the ticker of the "depreciated" stablecoin USDN to XTN
The ticker of the algorithmic stablecoin USDN, which lost parity against the US dollar back in August 2022, has been changed to the Neutrino Index (XTN). Sasha Ivanov, CEO and founder of the Waves Platform, announced this.
💬 “USDN is being phased out as a stablecoin, the name of the asset has been changed. Let's move on," he wrote.
⚙️ According to the protocol's Twitter account Neutrino, the decision to rename was approved by the community. The process will be carried out using a transaction of type Update Asset Info.
The developers assured that the update “will not affect exchanges, aggregators of token statistics and theirAPIthat will continue to use the existing USDN ticker."
💬 “This means your wallets will still display USDN. However, it will gradually be renamed to XTN everywhere,” they noted.
The ticker of the algorithmic stablecoin USDN, which lost parity against the US dollar back in August 2022, has been changed to the Neutrino Index (XTN). Sasha Ivanov, CEO and founder of the Waves Platform, announced this.
💬 “USDN is being phased out as a stablecoin, the name of the asset has been changed. Let's move on," he wrote.
⚙️ According to the protocol's Twitter account Neutrino, the decision to rename was approved by the community. The process will be carried out using a transaction of type Update Asset Info.
The developers assured that the update “will not affect exchanges, aggregators of token statistics and theirAPIthat will continue to use the existing USDN ticker."
💬 “This means your wallets will still display USDN. However, it will gradually be renamed to XTN everywhere,” they noted.
⚙️ Ethereum launched a testnet to check the withdrawal of ETH from Beacon Chain
On February 1 at 15:00 UTC, the Zhejiang testnet was launched to simulate the withdrawal of ETH from the Beacon Chain staking contract. The functionality is provided in EIP-4895, planned for the next Shanghai hard fork of the Ethereum network.
On February 7, a hard fork will take place in Zhejiang , which will activate EIP-4895. At the moment, users will only be able to deposit b.
Previously, developers launched devnet to test the function of withdrawing cryptocurrency from a deposit contract by validators.
On February 1 at 15:00 UTC, the Zhejiang testnet was launched to simulate the withdrawal of ETH from the Beacon Chain staking contract. The functionality is provided in EIP-4895, planned for the next Shanghai hard fork of the Ethereum network.
On February 7, a hard fork will take place in Zhejiang , which will activate EIP-4895. At the moment, users will only be able to deposit b.
Previously, developers launched devnet to test the function of withdrawing cryptocurrency from a deposit contract by validators.
🔥 BonqDAO and AllianceBlock hit by $89M hack
An unknown person withdrew approximately 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the pool on the BonqDAO protocol.
Due to the low liquidity of the assets, the hacker was only able to partially convert them into Ethereum and DAI in the amount of approximately $1.7 million. In total, the hacker’s wallet stores coins worth about $89.8 million.
AllianceBlock said that the incident did not affect other BonqDAO pools, or "treasuries", as they are called in the project. Hacked by manipulating the price oracle, the smart contract allows issuing BEUR against collateral in ALBT.
Both teams are working with partners to remove liquidity from the market and stop exchange trading of coins.
The developers of AllianceBlock also stopped the work of the cross-chain bridge until the situation is resolved. The protocol team stated that it took a snapshot to issue tokens in order to compensate for the damage to users.
An unknown person withdrew approximately 114 million AllianceBlock (ALBT) tokens and 98 million BEUR from the pool on the BonqDAO protocol.
Due to the low liquidity of the assets, the hacker was only able to partially convert them into Ethereum and DAI in the amount of approximately $1.7 million. In total, the hacker’s wallet stores coins worth about $89.8 million.
AllianceBlock said that the incident did not affect other BonqDAO pools, or "treasuries", as they are called in the project. Hacked by manipulating the price oracle, the smart contract allows issuing BEUR against collateral in ALBT.
Both teams are working with partners to remove liquidity from the market and stop exchange trading of coins.
The developers of AllianceBlock also stopped the work of the cross-chain bridge until the situation is resolved. The protocol team stated that it took a snapshot to issue tokens in order to compensate for the damage to users.
⚙️ MetaMask has added privacy settings to the browser extension - now users can set additional options for RPC providers and send requests to third-party services (to detect phishing and identify incoming transactions).
🎨 Leading NFT marketplace OpenSea has unveiled a new security feature. It implies the introduction of a 3-hour waiting period for tokens received on the account. Users will not be able to stake and therefore redeem NFTs, which will reduce the risk of them being stolen.
To interact with its own accounts and hardware devices, OpenSea has integrated the DelegateCash service, which will allow transactions between trusted addresses.
✅ The marketplace also announced a new phase of the Drops program.
To interact with its own accounts and hardware devices, OpenSea has integrated the DelegateCash service, which will allow transactions between trusted addresses.
✅ The marketplace also announced a new phase of the Drops program.
📝 Binance Agrees on the Implementation of Educational Initiatives with the Georgian Authorities
Cryptocurrency exchange Binance has signed a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA) to implement blockchain initiatives.
Cooperation under the agreement will include various educational and charitable initiatives from Binance Academy and Binance Charity, as well as local events and hackathons from BNB Chain.
💬 “Through this collaboration, Binance will facilitate the generation of new startup ideas and the implementation of projects focused on commercialization,” said GITA Chairman Avtandil Kasradze.
This is not the exchange's first educational initiative in the country. Last month, Binance signed a memorandum of cooperation with the University of Business and Technology of Georgia. Together with Binance Academy, the platform will provide teaching materials to teach students the basics of blockchain, Web3, NFT, and cryptocurrencies.
Cryptocurrency exchange Binance has signed a memorandum of understanding with the Georgian Innovation and Technology Agency (GITA) to implement blockchain initiatives.
Cooperation under the agreement will include various educational and charitable initiatives from Binance Academy and Binance Charity, as well as local events and hackathons from BNB Chain.
💬 “Through this collaboration, Binance will facilitate the generation of new startup ideas and the implementation of projects focused on commercialization,” said GITA Chairman Avtandil Kasradze.
This is not the exchange's first educational initiative in the country. Last month, Binance signed a memorandum of cooperation with the University of Business and Technology of Georgia. Together with Binance Academy, the platform will provide teaching materials to teach students the basics of blockchain, Web3, NFT, and cryptocurrencies.
The Wall Street Journal revealed the owners of Tether
Four people owned 86% of Tether Holdings, The Wall Street Journal (WSJ) reported. Documents confirming the information are dated 2018.
The publication noted that the USDT stablecoin operator with a market value of $68 billion still does not disclose information to the same extent as the corresponding traditional institutions.
The company was founded by former plastic surgeon Giancarlo Devasini and Brock Pierce, an entrepreneur and crypto evangelist. The company was registered in the British Virgin Islands in September 2014.
“The United States would be better off if patriotic Americans like me still owned the business. The share capital I turned down was probably $6-10 billion. Was it the right choice? I don't know," the WSJ quoted the entrepreneur as saying.
He also helped develop and launch the Bitfinex crypto exchange. Both companies have a lot of overlap in management. However, according to the WSJ, Devasini makes the key decisions.
Four people owned 86% of Tether Holdings, The Wall Street Journal (WSJ) reported. Documents confirming the information are dated 2018.
The publication noted that the USDT stablecoin operator with a market value of $68 billion still does not disclose information to the same extent as the corresponding traditional institutions.
The company was founded by former plastic surgeon Giancarlo Devasini and Brock Pierce, an entrepreneur and crypto evangelist. The company was registered in the British Virgin Islands in September 2014.
“The United States would be better off if patriotic Americans like me still owned the business. The share capital I turned down was probably $6-10 billion. Was it the right choice? I don't know," the WSJ quoted the entrepreneur as saying.
He also helped develop and launch the Bitfinex crypto exchange. Both companies have a lot of overlap in management. However, according to the WSJ, Devasini makes the key decisions.
Bitfinex, Keet, Synonym and Tether Pledge 5 Million TRY for Turkiye Earthquake Recovery
Bitfinex, Keet, Synonym and Tether would like to express our sincerest condolences and sympathy to the people of Turkiye, following the devastating earthquake to hit the country today. It is clear that the scale of the disaster has been both widespread and catastrophic. Our hearts go out to the people of Turkiye, and our thoughts and prayers are with all those affected.
It is absolutely essential at a time like this that we come together to support the citizens of the region in the wake of this tragedy.
On behalf of Bitfinex, Keet, Synonym and Tether, we are pledging 5M TRY towards immediate humanitarian relief and recovery efforts and will seek ways to provide continued support towards helping Turkiye rebuild for the future.
Resources of every kind are needed at a time like this and we can only hope that our support will help towards these efforts. We stand in solidarity with Turkiye.
Bitfinex, Keet, Synonym and Tether would like to express our sincerest condolences and sympathy to the people of Turkiye, following the devastating earthquake to hit the country today. It is clear that the scale of the disaster has been both widespread and catastrophic. Our hearts go out to the people of Turkiye, and our thoughts and prayers are with all those affected.
It is absolutely essential at a time like this that we come together to support the citizens of the region in the wake of this tragedy.
On behalf of Bitfinex, Keet, Synonym and Tether, we are pledging 5M TRY towards immediate humanitarian relief and recovery efforts and will seek ways to provide continued support towards helping Turkiye rebuild for the future.
Resources of every kind are needed at a time like this and we can only hope that our support will help towards these efforts. We stand in solidarity with Turkiye.
💬 Changpeng Zhao: I am a very boring guy who spends time on books, not people
The CEO of Binance revealed his recipe for time management, advising not to trade time for anything other than knowledge. A key skill for CZ is being able to say no. His credo is that what you don't do is more important than what you do.
He prefers to start any meetings with a warning about the limit of 15 minutes. Zhao doesn't like shopping. He prefers shopping online in batches of ten wardrobe items in the first five positions, which the algorithm offers him.
At home, in the office and in the suitcase, CZ is a mess. He does not waste time organizing space. The CEO of Binance does not cook food (no talent), he chooses one of the three positions he sees on the menu - what will be on the table faster. French dinner is not for him.
CZ listens to books at 2.5x under almost any circumstance when not at work. Especially appreciates flights, when he can absorb 2-3 books per flight. Zhao spent over 600 hours on board last year.
The CEO of Binance revealed his recipe for time management, advising not to trade time for anything other than knowledge. A key skill for CZ is being able to say no. His credo is that what you don't do is more important than what you do.
He prefers to start any meetings with a warning about the limit of 15 minutes. Zhao doesn't like shopping. He prefers shopping online in batches of ten wardrobe items in the first five positions, which the algorithm offers him.
At home, in the office and in the suitcase, CZ is a mess. He does not waste time organizing space. The CEO of Binance does not cook food (no talent), he chooses one of the three positions he sees on the menu - what will be on the table faster. French dinner is not for him.
CZ listens to books at 2.5x under almost any circumstance when not at work. Especially appreciates flights, when he can absorb 2-3 books per flight. Zhao spent over 600 hours on board last year.
Justin Sun announces payment system for ChatGPT in Tron ecosystem
A decentralized payment system will appear in the Tron ecosystem, focused on various AI services like ChatGPT from OpenAI. This was told by the founder of the project Justin Sun.
💬 “The structure includes a system of smart contracts placed on the blockchain, a payment protocol, a basicSDKand an AI-centric payment gateway. The smart contract system is used to store user requests and AI results in a decentralized file storage system onBTFSfrom BitTorrent,” he wrote.
According to Sun, the payment protocol will provide support for “stable currency settlements” on the blockchain. At the same time, the “interaction” level of the structure will provide AI services with access to standard calculation methods and relevantAPI.
The founder of Tron explained that the structure he described will allow the implementation of a secure and censorship-resistant payment system integrated with projects based on artificial intelligence.
A decentralized payment system will appear in the Tron ecosystem, focused on various AI services like ChatGPT from OpenAI. This was told by the founder of the project Justin Sun.
💬 “The structure includes a system of smart contracts placed on the blockchain, a payment protocol, a basicSDKand an AI-centric payment gateway. The smart contract system is used to store user requests and AI results in a decentralized file storage system onBTFSfrom BitTorrent,” he wrote.
According to Sun, the payment protocol will provide support for “stable currency settlements” on the blockchain. At the same time, the “interaction” level of the structure will provide AI services with access to standard calculation methods and relevantAPI.
The founder of Tron explained that the structure he described will allow the implementation of a secure and censorship-resistant payment system integrated with projects based on artificial intelligence.
💳 Visa confirms plans to integrate settlements in stablecoins
Payments company Visa aims to build the “muscle memory” for settlements that will allow converting digital assets into fiat currencies on its platform.
🗓 During the StarkWare Sessions 2023 conference in Tel Aviv, the head of Visa's cryptocurrency division, Kai Sheffield, confirmed that the company was testing the possibility of conducting settlement transactions in the USD Coin (USDC) stablecoin on Ethereum.
💬 “This is one area where we want to build muscle memory. Just as we can convert dollars and euros in a cross-border transaction, we need to be able to exchange between digital tokenized currencies and traditional ones,” Sheffield said.
He recalled that the Visa platform fully works on top of the SWIFT interbank system. Due to restrictions in the latter, the company cannot make payments as often as it would like, Sheffield stressed. Therefore, the firm is exploring the possibility of incorporating blockchain into its existing network.
Payments company Visa aims to build the “muscle memory” for settlements that will allow converting digital assets into fiat currencies on its platform.
🗓 During the StarkWare Sessions 2023 conference in Tel Aviv, the head of Visa's cryptocurrency division, Kai Sheffield, confirmed that the company was testing the possibility of conducting settlement transactions in the USD Coin (USDC) stablecoin on Ethereum.
💬 “This is one area where we want to build muscle memory. Just as we can convert dollars and euros in a cross-border transaction, we need to be able to exchange between digital tokenized currencies and traditional ones,” Sheffield said.
He recalled that the Visa platform fully works on top of the SWIFT interbank system. Due to restrictions in the latter, the company cannot make payments as often as it would like, Sheffield stressed. Therefore, the firm is exploring the possibility of incorporating blockchain into its existing network.
📱Binance Launches Crypto Trading Tax Calculation Tool
Bitcoin exchange Binance has introduced a free service for tax calculation and reporting - Binance Tax.
According to the statement, the platform allows you to “one-click” to import your transactions on the exchange into a calculator in order to estimate possible fiscal payments.
The company noted that Binance Tax is at an early stage of launch and does not yet support all types of transactions. Transactions with a number of products such as futures and NFTs are not available for processing. The team acknowledged that users will have to manually adjust their tax reports because of this in the near future.
Binance Tax allows you to load 100,000 transactions into the calculator at no additional cost. According to the developers, this amount is enough "even for fairly active traders."
💬 “We created Binance Tax so that our users can spend less time worrying about taxes and instead use it to explore the limitless possibilities of Web3 ,” the post reads.
Bitcoin exchange Binance has introduced a free service for tax calculation and reporting - Binance Tax.
According to the statement, the platform allows you to “one-click” to import your transactions on the exchange into a calculator in order to estimate possible fiscal payments.
The company noted that Binance Tax is at an early stage of launch and does not yet support all types of transactions. Transactions with a number of products such as futures and NFTs are not available for processing. The team acknowledged that users will have to manually adjust their tax reports because of this in the near future.
Binance Tax allows you to load 100,000 transactions into the calculator at no additional cost. According to the developers, this amount is enough "even for fairly active traders."
💬 “We created Binance Tax so that our users can spend less time worrying about taxes and instead use it to explore the limitless possibilities of Web3 ,” the post reads.