The Federal Bureau of Investigation (FBI) and multiple cybersecurity companies have started investigating the US$100 million hack on Harmony Protocol’s Horizon cross-chain bridge. See related article: Axie Infinity hack proceeds continue to be laundered despite US sanctions Fast facts Harmony Protocol announced it was attacked on Friday morning Asia time, adding it had alerted exchanges…
In a decentralized society envisaged under crypto, everybody is reportedly equal. But as the market strains under considerable stress, it’s showing some are more equal than others.
In his first interview after the collapse of TerraUSD (UST) and its sister token LUNA in May, CEO Do Kwon dismissed allegations of fraud and told The Wall Street Journal, “There is a difference between failing and running a fraud.” See related article: Winning back the trust of the Terra community a tall order for…
Testifying before the Senate Banking Committee on Wednesday, the chair of the U.S. Federal Reserve said the central bank is “not really seeing significant macroeconomic implications so far” with regard to the recent cryptocurrency volatility. See related article: Bitcoin, Ether recover as Fed guidance reduces policy uncertainty Fast facts Powell testified at the Senate Banking…
The Reserve Bank of India (RBI) has launched a blockchain-based trade financing pilot project in collaboration with top lenders including HDFC bank, ICICI Bank and State Bank of India, among several others, Economic Times reported, citing unidentified sources. See related article: India FM: RBI to issue blockchain-based digital rupee Fast facts Belgium-based SettleMint, U.S.-based Corda…
The tech investment arm of the South Korean conglomerate reportedly halted the plan to issue its own cryptocurrency, citing the macroeconomic environment and trust issues related to cryptocurrencies. See related article: South Korea’s second-largest conglomerate to issue own cryptocurrency Fast facts SK Square told local news agency Newsis that preparations for trademark applications and the…
CoinFLEX is freezing withdrawals due extreme market conditions and uncertainty involving a counterparty, the cryptocurrency futures exchange said in a blog post on Friday. See related article: Contagion risk from Three Arrows Capital weighs on Bitcoin, crypto Fast facts CoinFLEX stressed the counterparty in question was not Three Arrows Capital Ltd., the crypto hedge fund…
Three financial regulators in Shenzhen said they would “prevent further risks” in crypto trading, while warning that cryptocurrencies and related businesses are illegal in the mainland. See related article: Law can’t cover crypto losses, China court reiterates Fast facts See related article: Why domestic and overseas Chinese should worry about China’s crypto ban