Crypto Industry News

According to a report made by Elliptic, a blockchain forensics firm, there has been at least $540 million laundered on the RenBridge so far. By using this cross-chain bridge, criminals have converted crypto from one asset into another and then moved it over various blockchains in order to cover the trace of money. Elliptic’s report […]

Jeremy McAlpine and Zachary Matar, founders of the fraudulent company Dropil, have been sentenced to 3 and 2.5 years in prison respectively, after pleading guilty to securities fraud. The sentencing comes two years after the charges were brought before the court in California. McAlpine and Matar were accused of misleading crypto investors regarding the Dropil […]

The Solana-based yield protocol, Nirvana Finance, was hacked for $3.49 million worth of USDT tokens in a flash loan attack. Nirvana’s stablecoin NIRV and native token ANA have immediately dropped some 85% in value. According to the audit company OtterSec, the attacker managed to use a flash loan in order to artificially increase the price […]

According to CoinGecko, the combined value of all cryptocurrencies has fallen below $1 trillion. After a week of rising prices, the consequences of the crypto winter are evident again. The current global crypto market cap amounts to some $997 billion. Ethereum is trading for $1,463, which is about a 10% decrease since last week. Bitcoin’s […]

CoinFlex, the well-known platform for crypto investments, is starting arbitration procedures against a whale account holder. The aim of the arbitrations is for CoinFlex to reclaim the $84 million that the whale account holder owes. According to an official statement by CoinFlex, the individual in question is legally obligated to pay back the $84 million. […]

In a much-publicized disaster this May, the Terra network crashed. Now, more than 48 projects which previously ran on Terra have relocated to Polygon. Polygon is Ethereum’s layer-2 scaling solution. Its Terra Developer Fund seems to be the key factor responsible for projects’ relocation. An NFT marketplace OnePlanet has also significantly stimulated the relocation. Its […]

The president of the Central African Republic, Faustin-Archange Touadéra, announced that the country’s government will be developing an initiative to develop its blockchain infrastructure. The initiative, named Sango, comes after the April news of the Central African Republic adopting Bitcoin as legal tender. Sango will launch on July 3. Touadéra, members of his cabinet and […]

The stablecoin A$DC has now been used to buy Australian tokenized carbon credits. There is, however, no information on the value of the transaction yet. A major Australian financial institution has never minted a coin before this one. A$DC was issued by ANZ (Australia and New Zealand Banking Group Limited) back in March. After a […]

The crypto derivatives exchange, CoinFLEX, has frozen user withdrawals on its platform. Amidst the crypto winter, this is yet another platform to discontinue account withdrawals. The company’s CEO, Mark Lamb, explained that CoinFLEX was forced to freeze withdrawals “due to extreme market conditions last week & continued uncertainty involving a counterparty”. The withdrawals will be […]

The value of THORChain’s RUNE token is up 16% since June 22. Two days ago, the THORChain developers have announced the network’s mainnet launch. The THORChain team then also announced the launch campaign on Binance, with a $1 million worth of RUNE rewards for Binance’s users. According to CoinMarketApp, the current price of RUNE is […]