The former billionaire paid four “macks” for a haircut before his trial while staying at the Brooklyn Metropolitan Detention Center.
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HTX hacked again for $13.6M, 100K Koreans test CBDC, Binance 2.0: Asia Express
HTX hacked for $13.6M — the ecosystem’s fourth hack in recent months — 100K Koreans test out CBDC, and Binance is dead, long live Binance!
HTX hacked again for $13.6M, 100K Koreans test CBDC, Binance 2.0: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $13.6 million via a hot wallet hack that occurred on Nov. 22.
In its Nov. 23 announcement, the exchangepromisedto “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds,” as well as restore services within 24 hours of the attack. The day prior, the HTX Eco Chain (HECO) bridge was exploited for $86.6 million. An investigation is ongoing.
In September, the HTX exchange was hacked for $7.9 million; this was followed by a $100 million hack against the Poloniex exchange, a related entity, in November. Justin Sun, the Chinese blockchain personality and de-facto owner of HTX (not to mention the owner of Poloniex, founder of Tron and CEO of BitTorrent etc),stated after the attack that “HTX Will Fully Compensate for HTX’s hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure.” Sun previously also madeassurancesthat “all user assets are #SAFU” in the aftermath of the September hack against HTX.
Huobirebranded to HTXduring this year’s Singapore2049 event in September. Although its executives have repeatedly reassured that the exchange is doing well, the exchange ran into a number ofserious incidentsthis year, including analleged employee revolt.
HTX hacked again for $13.6M, 100K Koreans test CBDC, Binance 2.0: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $13.6 million via a hot wallet hack that occurred on Nov. 22.
In its Nov. 23 announcement, the exchangepromisedto “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds,” as well as restore services within 24 hours of the attack. The day prior, the HTX Eco Chain (HECO) bridge was exploited for $86.6 million. An investigation is ongoing.
In September, the HTX exchange was hacked for $7.9 million; this was followed by a $100 million hack against the Poloniex exchange, a related entity, in November. Justin Sun, the Chinese blockchain personality and de-facto owner of HTX (not to mention the owner of Poloniex, founder of Tron and CEO of BitTorrent etc),stated after the attack that “HTX Will Fully Compensate for HTX’s hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure.” Sun previously also madeassurancesthat “all user assets are #SAFU” in the aftermath of the September hack against HTX.
Huobirebranded to HTXduring this year’s Singapore2049 event in September. Although its executives have repeatedly reassured that the exchange is doing well, the exchange ran into a number ofserious incidentsthis year, including analleged employee revolt.
HTX hacked again for $13.6M, 100K Koreans test CBDC, Binance 2.0: Asia Express
HTX hacked for $13.6M — the ecosystem’s fourth hack in recent months — 100K Koreans test out CBDC, and Binance is dead, long live Binance!
HTX hacked again for $13.6M, 100K Koreans test CBDC, Binance 2.0: Asia Express
HTX hacked for $13.6M — the ecosystem’s fourth hack in recent months — 100K Koreans test out CBDC, and Binance is dead, long live Binance!
HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0: Asia Express
HTX hacked for $30M — the ecosystem’s fourth hack in recent months — 100K Koreans test out CBDC, and Binance is dead, long live Binance!
HTX hacked again for $30M, 100K Koreans test CBDC, Binance 2.0: Asia Express
Our weekly roundup of news from East Asia curates the industry’s most important developments.
In the fourth hack affecting the HTX (formerly Huobi Global) ecosystem in just two months, the exchange lost $30 million via a hot wallet hack that occurred on Nov. 22. The amount was updated from original reports of $13.6M.
In its Nov. 23 announcement, the exchange promised to “fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds,” as well as restore services within 24 hours of the attack. The day prior, the HTX Eco Chain (HECO) bridge was exploited for $86.6 million. An investigation is ongoing.
In September, the HTX exchange was hacked for $7.9 million; this was followed by a $100 million hack against the Poloniex exchange, a related entity, in November. Justin Sun, the Chinese blockchain personality and de-facto owner of HTX (not to mention an “adviser” to, but possibly owner of, Poloniex, founder of Tron and CEO of BitTorrent etc),stated after the attack that “HTX Will Fully Compensate for HTX’s hot wallet Losses. Deposits and Withdrawals Temporarily Suspended. All Funds in HTX Are Secure.” Sun previously also madeassurancesthat “all user assets are #SAFU” in the aftermath of the September hack against HTX.
Huobirebranded to HTXduring this year’s Singapore2049 event in September. Although its executives have repeatedly reassured that the exchange is doing well, the exchange ran into a number ofserious incidentsthis year, including analleged employee revolt.
Ethereum (ETH) price reclaims $2K as data shows a surge in network activity
Despite regulatory action against Binance, a surge in Ethereum network activity and the expectation of a spot ETF approval fueled a price move above $2,000.
Ethereum (ETH) price reclaims $2K as data shows a surge in network activity
Ether (ETH) price is trading slightly higher on Nov. 23, maintaining support above the $2,000 level after briefly retesting $1,930 on Nov. 21. Over the past week, Ether's price has increased by 2.5%, while the total market capitalization has grown by 0.5%. This uptrend can be attributed to improved decentralized applications (DApps) metrics, increased protocol fees, and Ethereum's dominance in the non-fungible token (NFT) market.
To assess whether Ether can sustain its $2,000 price point, one must consider the repercussions of Binance's recent regulatory challenges following its plea deal with the U.S. Department of Justice (DoJ).
Investor fear drops as Ethereum network conditions improve
Binance leads in Ether spot trading volume, accounting for 30% of ETH futures contracts' open interest. The closure of Binance's $2.35 billion worth of ETH derivatives contracts within a short period could have significant consequences. Despite initial analyses showing minimal changes in spreads and liquidity, Binance witnessed net outflows of $1.53 billion between Nov. 21 and Nov. 23, as reported by DefiLlama.
The regulatory landscape presents risks and opportunities. Some view Binance's actions as evidence of sufficient reserves, while others are concerned about the $4.3 billion fine facing Binance and its former CEO, Changpeng "CZ" Zhao. Notably, Bitcoin advocate Luke Broyles advised followers to withdraw their coins from exchanges.
Even if Binance continues operations and safeguards all client assets, the long-term effects of full compliance and increased scrutiny remain uncertain. Additionally, the relationship between Binance and stablecoin issuers like Tether (USDT), TrueUSD (TUSD) and Binance USD (BUSD) raises further questions.
XRP price faces Q4 rout and 20% drop
XRP (XRP) price has dropped 18.5% from its local high of $0.67 on Nov. 23. And, it appears the cryptocurrency will suffer more selloffs in the coming weeks.
XRP technicals hint at extended correction
XRP has failed to break above a descending trendline resistance since January 2018. And, it fell short of logging a breakout above in November 2023, as well, illustrating a psychological selling pressure around the line.
XRP/USD weekly price chart. Source: TradingViewEach bearish rejection after testing the descending trendline resistance has historically resulted in a decline toward the ascending support trendline.
The downside target appears around $0.50, interestingly closer to XRP's 50-week (the red wave) and 200-week (the blue wave) exponential moving averages (EMA). Thus, XRP's price risks declining by 20% before 2024, if this fractal plays out.
Potential XRP transfers to exchanges
XRP's bearish outlook picks more cues from the supply distribution data tracked its richest cohorts.
Stablecoin bill is a ‘no-brainer’ — Consensys director on US legislation
Consensys senior counsel and director of global regulatory matters Bill Hughes spoke at the North American Blockchain Summit on crypto bills and their role in politics.
Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly
Bitcoin ETF excitement is everywhere, but short-timeframe BTC price morale is wearing thin.
HTX to restore services 'within 24 hours' after $13.6M hack
"Huobi HTX has now properly handled this attack," the crypto exchange stated.
Solana’s genesis story — Anatoly Yakovenko's vision for a high-performance blockchain
Solana co-founder Anatoly Yakovenko recounts the “eureka moment” that birthed the blueprint for the layer one smart contract protocol aimed to be “hyper-optimized” and “fast as possible”.
Bitcoin supercycle 2024: Is this the cycle to end them all?
Dan Held’s Bitcoin supercycle hasn’t happened yet, but the factors might be right to see it play out sooner than most think.
Bitcoin user pays $3.1M in transition fee for one 139 BTC transfer
A Mempool developer suggested that the user behind the transfer might not be aware of the non-cancellation of replacement fees policy, resulting in an accidental $3.1 million transaction fee.
Bitcoin user pays $3.1M in transition fee for one 139 BTC transfer
A Mempool developer suggested that the user behind the transfer might not be aware of the non-cancellation of replacement fees policy, resulting in an accidental $3.1 million transaction fee.
Milei presidential victory fuels optimism in Argentina’s Bitcoin community
The election of new Argentine President Javier Milei has given many in the local Bitcoin community cause for hope.
Alchemy bags money services license in Iowa, expands US services
The crypto-fiat payment services provider Alchemy Pay is expanding its presence in the U.S. as it acquired its money services license in the state of Iowa.