Hong Kong-based cryptocurrency exchange CoinEx recently disclosed the astounding news that hackers had managed to steal over $70 million in tokens due to compromised private keys. This devastating security breach has prompted the CoinEx team to take swift action, not only working towards building and deploying a new wallet architecture to restore functionality, but also
Ethereum
According to a recent report from CoinShares, outflows from crypto exchange-traded products (ETPs) have reached $455 million over the past nine weeks. These significant outflows generally indicate a negative sentiment towards cryptocurrencies among investors. ETPs are specifically designed to track crypto prices, and when the shares of these funds decrease below their target prices, cryptocurrencies
Ethereum developers have made a significant stride in advancing the Ethereum network with the launch of a new testnet called “Holeščky” on September 15th. This testnet is specifically designed to facilitate staking, infrastructure, and protocol development, as outlined in the official developer documents. However, it is important to note that Sepolia will remain the dominant
Matter Labs, the creator of zkSync, has recently partnered with DappRadar to launch a new ecosystem portal for zkSync. This move is seen as a significant step towards fully decentralizing the protocol. zkSync is a layer-two blockchain designed to scale the Ethereum ecosystem. With over 200 projects and 8.8 million testnet transactions, zkSync has gained
Stablecoin issuer Paxos recently released its first transparency report for PayPal USD (PYUSD), an Ethereum-based stablecoin. This report provides valuable insights into the assets backing the token, offering investors and users greater confidence in its value proposition. According to the transparency report, the assets held in custody for PayPal USD “meet or exceed the token
In the world of blockchain solutions, the ecosystem of layer-2 platforms powered by zero-knowledge (ZK) proofs is expanding rapidly. Manta Network, a new player in this space, has recently launched its ZK-as-a-service platform called Manta Pacific. This modular layer-2 solution aims to enable Ethereum Virtual Machine (EVM)-native decentralized applications (DApps) using ZK-proof technology. With its
Ethereum staking protocol Lido Finance has recently come under scrutiny due to an alleged security flaw in its token contract. While Lido Finance has not confirmed any specific exploits, it has acknowledged the existence of the known security flaw. In response to concerns raised by blockchain security firm SlowMist, Lido Finance assured both Lido DAO
Zero-knowledge (ZK) proof solutions have played a significant role in the scalability of the Ethereum ecosystem. However, according to Nicolas Liochon, the head of zkEVM Linea at Consensys, the implementation of proto-danksharding could revolutionize rollups and drastically reduce their cost. In an exclusive interview with Cointelegraph Magazine, Liochon estimated that proto-danksharding could reduce rollup costs
In a recent announcement on September 7th, the FBI revealed that the North Korean Lazarus Group was responsible for the $41 million hack of the popular crypto gambling site Stake. This cybercrime organization, known for its association with the Democratic People’s Republic of Korea (DPRK), has already stolen over $200 million in cryptocurrency throughout 2023.
Global payments leader Visa has taken a significant step in its foray into the world of stablecoins by announcing its support for USD Coin (USDC) payments settled on the Solana blockchain. This move marks the expansion of Visa’s stablecoin offering and sets the stage for integrating digital currencies into traditional finance systems. By leveraging the