If you're stopping by for the first time and you haven't already and you want to, please subscribe.

The most important thing to watch in the crypto market this week

 

1- Digital Asset Summit 2022 - London:

This week will see an important meeting of institutional players in finance and digital assets in London.

The meeting will focus on digital assets and will be under the supervision of the “Blockworks” company.

The conference is scheduled to take place from 17-18 October and will be held at the Royal Lancaster Hotel in the UK capital.

This event will feature seminars and speeches from famous personalities in the crypto arena such as:

Founder of the decentralized finance project Aave, CEO of Kaiko, and CEO of Coinshares.

Representatives of conventional finance companies will also speak, including a representative from HSBC, BNP Paribas, Morgan Stanley, and the London Stock Exchange Group.

2- More drama about mango theft:

Yesterday, Avraham Eisenberg, the man behind the theft of $114 million from Mango, confirmed his role in organizing the attack.

The protocol was left insolvent, with users' wallets at risk of being liquidated.

After the Mango community vote, Eisenberg would be allowed to keep $47 million of the $114 million he was able to secure.

This amount is much larger than the usual rewards that hackers demand the exploited platforms not to file criminal charges.

While Eisenberg views his actions as “legal,” describing what he did as a highly profitable business strategy rather than a hack, it remains to be seen whether law enforcement officials will view his handling of the protocol as legal.

3- Another week in Hacktober:

Previously, the month of October was known as UPtober due to the simultaneous rise in cryptocurrency prices, but the name has recently changed to Hacktober due to the amount and number of hacks that occurred this month.

The Mango hack completed the negative landscape of October 2022.

It is still two weeks into October, which according to the Chainalysis report is the most prominent month and most popular month in terms of crypto-money theft.

The data cited 11 hacks totaling $718 million, which so far tops the year that is expected to exceed $3 billion stolen in 2021.

Besides the Mango exploit, other cases include the recent $100 million hack of the BNB bridge across Binance.

Comments

Post a Comment


To stay up-to-date with all of our latest content, please consider following us on social media.




Popular posts from this blog

Create a Payza account Free in 2 minutes!

Image
Payza is a free online payment service, like Paypal, Neteller and Payoneer, allowing you to send, transfer and receive money online very easily and securely. And you can also transfer money to your bank account or add it to your Payza account. How to open / create a Payza account? Registration is quick and easy, just click here www.payza.org then: - Click on "Sign up" and choose your type of account you want "Personal Account or Business". - Fill in your personal data correctly: Your no name and first name, email address and password "Enter at least 8 characters, include capital letters, lowercase letters, numbers and symbols". After your registration do not forget to check your mailbox to confirm your registration. Wait! Things are not done yet, let's talk about services, which Payza offers its members: 1. Opening an account for free and without annual fees. 2. Send money fast and safely. 3. Receive your payments quickly and sec
Read more

The latest information about the new Facebook Cryptocurrency

Image
Some time ago, we became aware that Facebook was planning to launch its new currency, but now we have more and more assurances about it. The new currency will enable users to make purchases through various Facebook platforms such as Messenger, WattsApp and Instagram, whether the user has a bank account or not. BBC sources indicate that Mark Zuckerberg has engaged in a lengthy dialogue with the Bank of England Governor on the subject.
Read more

Binance and its CEO are under surveillance, according to the “Wall Street Journal”

Image
  Binance, the leading digital currency trading platform, faces legal and operational challenges that may determine its future course. According to information obtained by the Wall Street Journal from undisclosed sources, Changpeng Zhao, known as “CZ,” may be subject to criminal charges by the American authorities after a period of investigation. Despite the obstacles Binance has faced recently, such as the departure of some senior staff and extensive layoffs, there are those who remain optimistic about the sector’s ability to recover, such as Matt Hogan of Bitwise, who sees the field as strong and resilient. Despite these challenges, Binance co-founder Yi He confirms that the company will overcome these difficulties. Confidence within the company is wavering, especially with Binance's trading volume falling to half of global trading from 70% at the beginning of the year. Previous reports indicated that US authorities are considering accusing Binance of illegal practices, which thr
Read more

Digital encapsulated tokens issued by FTX or Alameda are no longer redeemable!

Image
  Following FTX's Chapter 11 bankruptcy filing, the encapsulated cryptocurrency issued by crypto exchange FTX or its sister trading partner Alameda Research has now been hit by a significant drop in prices. According to Coingecko data, the bitcoin encapsulated on Sollet has fallen by more than 60% in the past 24 hours, significantly below the value of the original bitcoin. In contrast, the price of Ethereum encapsulated on Sollet also fell but by only 8% over the same 24-hour time frame. It should be noted that for both encapsulated digital tokens, soETH and soBTC, Coingecko displays a warning notice on its website that: SOBTC digital tokens are encapsulated with bitcoin tokens issued by FTX or ALAMEDA. These two entities have filed for Chapter 11 bankruptcy, so the original cryptocurrency is no longer recoverable. Cryptocurrencies, such as Bitcoin or Ethereum, on Solana make these assets available for use on the Solana blockchain so that users can hold or trade them in place of ac
Read more

The Middle East and North Africa is the most growing region in the crypto market according to the latest research

Image
  The cryptocurrency sector continues to grow continuously across the globe, with the Middle East and North Africa (MENA) region has emerged over the past year, as it recorded the highest growth in the volume of cryptocurrency transactions year on year compared to all transactions in other regions. As the reports confirmed, the Middle East and North Africa region recorded an increase in the volume of cryptocurrency transactions by 48% between June 2021 and June 2022, the largest increase in the world, according to the new Crypto Geography 2022 report published by crypto analytics platform Chainalysis on October 20.  The Middle East and North African countries are at the forefront In second place comes Latin America with year-over-year crypto transaction volume growth of 40%, followed by North America with an increase of 36% and Central and South Asia with 35%. East Asia recorded the slowest growth at just 4%. According to the report, the reason for the growth of the MENA region can be
Read more