Crypto Industry News
The crypto industry is quite turbulent, but also innovative, impactful, or even fun. Many dozen events of all kinds happen each day, giving crypto enthusiasts plenty to keep them interested.
We dig for the best stories to share them with readers and have quite a few news categories here on TradeCrypto for all these stories. But whatever news on the many crypto companies and events doesn’t fit anywhere else, goes in the general crypto industry news.
GMX Exploited for More Than $500,000
Decentralized exchange GMX was hit in a price manipulation exploit, with the attacker taking off with some $565,000. GMX is a relatively young crypto exchange, having launched just late last year on Ethereum layer-2 solution Arbitrum. However, that’s more than enough time to become a victim of cybercrime in the crypto industry. GMX’s AVAX/USD market […]
Tron Hackathon Season 3 Kicks Off with $1,2 Million Prize Pool
The third season of Tron’s Grand Hackathon is starting. This year, the second-largest DeFi network by TLV has secured $1.2 million for Hackathon’s prize pool and introduced two additional competitive categories. Apart from the DeFi, GameFi, NFT and Web3 tracks, developers can now participate in the Academy and Ecosystem categories as well. The former is […]
Crypto Hub in Vietnam Opened by Near Foundation and GFS Ventures
Near Foundation, a Swiss non-profit organization that oversees the development of the layer-one blockchain, Near Protocol, announced that it has opened a Web3 regional hub in Vietnam. Its partner in the project is GFS Ventures, a venture capital fund. According to the Global Cryptocurrency Acceptance Index, Vietnam ranks fifth when it comes to the degree […]
Arrest Warrant for Do Kwon Issued in South Korea
According to Bloomberg, South Korean authorities have issued a warrant for the arrest of Do Kwon, the CEO of TerraForm Labs. In May this year, Terra’s stablecoin UST and its sister coin LUNA crashed, losing $40 billion of investors’ money. One major consequence of this crash is the impact it had on bringing crypto winter […]
BitGo Pressing Charges Against Galaxy Digital for $100 Million
What was supposed to be the most expensive deal in the crypto industry has in the meantime transformed into something ugly. Last month, Galaxy Digital, a crypto investment firm, pulled out of its $1.2 billion acquisition of the crypto custodian BitGo. Now, BitGo is pressing charges against its would-be buyer. Galaxy Digital terminated the acquisition […]
Love Island Stars Warned Due to False Crypto Advertising
Stars of the UK’s reality show Love Island, Jessica and Eve Gale, have received a warning from the national Advertising Standards Authority (ASA). The twins, who are also social media influencers, have promoted crypto on their Instagram accounts in an irresponsible way. First, in June, Jessica Gale presented crypto as being a rather undemanding and […]
Australia Introduces Dedicated Crypto Unit
Australian Federal Police now has a specialized unit whose goal is to track and seize crypto linked to illicit activity. The unit is part of the broader Australian Criminal Assets Confiscation Taskforce (CACT). According to CACT’s representative, the formation of this team was necessary following the increasing involvement of crypto in criminal activities. Its members […]
Binance Identifies Hackers Suspected of KyberSwap Exploit
Binance seems determined to become the hero of the crypto industry. In an independent investigation, the world’s largest crypto exchange in terms of trading volume has identified two suspects who are allegedly responsible for the KyberSwap attack. Last week, KyberSwap suffered a front-end exploit, losing $265,000 to the attackers. The decentralized exchange then unsuccessfully offered […]
State of Washington Files Lawsuit Against MicroStrategy and Its Founder
Michael Saylor and MicroStrategy are facing a lawsuit in Washington, DC. The cloud computing software firm and its founder are charged with tax fraud. Allegedly, Saylor reported that he was living in Florida, a state that has eliminated income taxes, while actually residing in DC between 2014 and 2020. In addition, MicroStrategy is accused of […]
India’s Financial Crime Agency Investigating CoinSwitch Kuber
Indian authorities continue the battle against crime in the crypto industry. After going after India’s largest crypto exchange, WazirX, the Enforcement Directorate (ED) is now investigating another large Indian crypto exchange – CoinSwitch Kuber. According to an unnamed spokesperson who spoke to Reuters, ED has accused CoinSwitch of violating the country’s forex laws. Because of […]
