Author: Ann C. King
On the 22nd of December, OKX, the third-largest cryptocurrency exchange by trading volume, published its Proof-of-Reserves report, the second one in just two months. The report claims that OKX, a Seychelles-based crypto exchange, has a 101% reserve ratio of Bitcoin and Tether, while a 103% reserve ratio of Ethereum as of the 20th of December. In today’s report, the cryptocurrency exchange claimed that it would publish such reports monthly on approximately the 22nd day of each month going forward as part of a commitment to transparency. OKX also added several new features to its exchange platform, such as allowing users…
According to the 22nd of December report from AP News, the hackers sponsored by North Korea have stolen an estimated 1.5 trillion won, worth around $1.2 billion, in cryptocurrencies from worldwide since 2017. In this report, the AP News cited NIS, the National Intelligence Service, the main spy agency of South Korea. According to the report, the National Intelligence Service believes that North Korea is among the best in the world when it comes to stealing crypto. Because North Korea turned its focus to cybercrime after the United Nations’ economic sanctions were toughened in 2017 in response to the country’s…
This week which is heading into Christmas, brought modest gains for the leading cryptocurrencies in the market, Bitcoin and Ethereum. As of today, on the 24th of December, Bitcoin, the largest cryptocurrency in the market, increased by more than 1% over the past seven days. While Ethereum, the second-largest cryptocurrency in the market, increased by more than 4% over the same period. According to data from CoinGecko, Bitcoin is currently, as of this writing, trading at around $16,859. And Ethereum is currently trading at around $1,222, as per data from CoinGecko. On the other hand, Dogecoin, the leading meme coin…
The hash rate of Bitcoin, the largest cryptocurrency in the market, plummeted by more than 38% because of extreme weather conditions, where US-based Bitcoin miners shut down operations. According to data from PowerOutage.us, the US deadly winter storm, what meteorologists are calling a bomb cyclone, has stirred up blizzard-like conditions in some places and left many places in Maine and New York without power. As of the 23rd of December, there were more than one million businesses and homes without power due to this deadly winter storm, according to a report from Yahoo News. This power outage has also affected…
On the 26th of December, BitKeep, the multi-chain crypto wallet, reported a hacking incident that resulted in losing millions of dollars in various cryptocurrencies its users. Regarding the reason behind this hack, the team crypto wallet claimed that their preliminary investigation pointed to some malicious APK package downloads that were hijacked by hackers. According to a report from PeckShield, a security company, the total amount of funds stolen from the hack at BitKeep is around $8 million in various digital assets. These digital assets include 4373 BNB, 196k DAI, 5.4M USDT, and 1233.21 ETH. APK, Android Package, is the file…
On the 26th of December, in response to reports indicating that talks over the potential acquisition of troubled crypto lender Vauld have been terminated, Nexo responded that these are false. According to a report from Decrypt, a spokesperson from Nexo, a cryptocurrency lender, told that any decision about Vauld’s future is in the hands of the firm’s creditor committee, not its ex-CEO. According to a report from The Block, the rumors that the negotiations over the acquisition of Vauld, a Singapore-based company, had collapsed were spurred by an email sent by Darshan Bathija, the founder & CEO of Vauld, to…