Author: Reza Ali

Yearn Finance Contributor’s Data Leak Shakes Crypto World: 101,000 Users’ Info Exposed at Friend.tech, Ignites Privacy Debate A groundbreaking disclosure has sent shockwaves through the cryptocurrency sphere, with Banteg, the enigmatic core contributor of Yearn Finance, regaining prominence. This instance focuses on a leaked GitHub repository allegedly holding sensitive user data from the “friend.tech” platform. The leak has sparked intense worries about privacy violations and the scope of user agreements. Inside the revealed repository, a wealth of data about over 101,000 users has allegedly been exposed, revealing vital particulars like Base addresses and Twitter usernames. Deepening the astonishment, Banteg disclosed…

SEC authorized an interlocutory appeal in Ripple’s battle, influencing XRP’s regulatory clash outcome with potential implications for both parties. Amid the ongoing legal feud between Ripple and the United States Securities and Exchange Commission (SEC), US District Judge Analisa Torres has authorized the SEC to file a motion seeking permission for an interlocutory appeal. According to a document released by James K. Filan, a lawyer supporting Ripple, the SEC can submit the motion on August 18. On the other hand, Ripple has until September 1 to present its opposition to the SEC’s motion. The document also outlines that the SEC…

Vitalik Buterin’s Layer 2 Revelation Spurs Debate on Ethereum’s Decentralization Amidst Efficiency Pursuit Ethereum, the cornerstone of decentralized innovation, is grappling with a new challenge as its co-founder, Vitalik Buterin, raises concerns about decentralizing Layer 2 scaling solutions. These solutions, including famous names like Arbitrum and Optimism, were hailed for enhancing efficiency and reducing transaction costs within the Ethereum ecosystem. However, Buterin’s recent disclosure has spotlighted an unsettling truth – all Layer 2 projects and rollups possess what some call a “backdoor.” As per the recent report, Ethereum’s journey toward scalability and efficiency through Layer 2 solutions like Arbitrum and…

Singapore’s central bank, MAS, introduces a pioneering regulatory framework aimed at strengthening single-currency stablecoins In a significant move on Tuesday, the Monetary Authority of Singapore (MAS), the nation’s central bank, revealed a fresh regulatory framework to enhance the stability of single-currency stablecoins. Under this groundbreaking initiative, the MAS intends to apply the framework to non-bank issuers of single-currency stablecoins pegged to either the Singapore Dollar or any fiat currency of the G10 nations. Notably, this will apply to stablecoins with a circulating value surpassing S$5 million, categorizing them as MAS-regulated stablecoins. Nonetheless, for the framework to take full effect, the…

Bitget, the innovative crypto derivatives exchange from Singapore, has set the stage for a significant leap in the Shiba Inu ecosystem The exchange recently unveiled its integration of support for Bad Idea AI (BAD) within its cutting-edge innovation zone. This significant move opens up trading opportunities for millions of users through the BAD/USDT pair. In a recent official statement, Bitget announced activating the deposit feature for BAD. The much-anticipated trading for the BAD/USDT pair is all set to launch on August 15th at precisely 11 a.m. (UTC). Moreover, crypto exchange enthusiasts can expect access to the withdrawal feature by August…

FTX Founder Sam Bankman-Fried Detained Amid Witness Tampering Claims; Legal Circles and Crypto Community Trembling In a surprising twist of events, Sam Bankman-Fried, the founder of the now-bankrupt FTX cryptocurrency exchange, faces detention following a decision by U.S. District Judge Lewis Kaplan. The judge ruled that there was probable cause to believe Bankman-Fried had tampered with witnesses, leading to the revocation of his bail agreement. This development has sent shockwaves through the cryptocurrency community and legal circles alike. U.S. District Judge Lewis Kaplan’s Friday ruling resonated across the financial and crypto realms, detaining Sam Bankman-Fried due to witness tampering allegations.…

Binance’s CEO, CZ takes resolute action against the BitForge vulnerability, setting an industry standard for proactive security measures. Binance, the leading cryptocurrency exchange, is at the forefront of a resolute response to the BitForge vulnerability, a critical security concern uncovered by the Fireblocks research team. In a groundbreaking move, Binance’s CEO Changpeng Zhao (CZ) stepped up to confront these concerns head-on, setting a precedent for the industry. In a recent Twitter statement, CZ reassured the crypto community about Binance’s unwavering commitment to security. The BitForge vulnerability, unveiled by Fireblocks, exposes a series of zero-day vulnerabilities embedded within widely-used multi-party computation…

Bitsonic CEO’s arrest in South Korea over alleged misappropriation and deceitful dealings involving investments and deposits, with $7.5M fraud. In a startling twist of events, the chief executive officer of Bitsonic, a well-known cryptocurrency exchange, has been detained by law enforcement authorities in South Korea. The apprehension carried out on August 7, forms part of an ongoing inquiry into claims of misappropriation and deceitful dealings related to users’ investments and deposits on Bitsonic. Sources linked to the South Korean news outlet Chosun Biz have disclosed that the arrest stems from accusations against Jinwook Shin. It is alleged that Shin orchestrated…

Bitcoin’s substantial outflow of $111 million amidst a lackluster summer market captivated the cryptocurrency world this week, revealing a delicate investor balance and market trends. This week’s cryptocurrency market has been captivating in the ever-evolving world of digital asset investments. A remarkable trend unfolded, showcasing Bitcoin’s substantial outflow of $111 million, revealing the delicate balance between profit-taking and investor positioning amidst a lackluster summer market. Concurrently, weekly trading volumes in investment products experienced a 36% dip below the year-to-date average, while the broader on-exchange market witnessed an even steeper 62% decline, drawing the attention of experienced traders. Exchange-Traded Product (ETP)…

Renowned analyst Ali Martinez reveals Shiba Inu’s staggering 3.30 trillion SHIB token withdrawal in July, backed by Santiment data. In a surprising revelation, renowned crypto analyst Ali Martinez reports that the enigmatic cryptocurrency Shiba Inu has experienced a massive withdrawal of tokens from centralized crypto exchanges. The data presented by Martinez points to a staggering 3.30 trillion Shiba Inu (SHIB) tokens being moved out of exchanges during the month of July, amounting to an impressive $28 million in value. Backing up his findings, Martinez refers to data provided by the esteemed crypto intelligence firm, Santiment. The market chart produced by…