According to a post-mortem analysis provided by CertiK of the $5.8 million Lodestar Finance exploit that occurred on Dec. 10, 5. The hacker burned a little over 3 million in GLP, their profit on this exploit was the stolen funds on Lodestar - minus the GLP they burned. 6. 2.8 Million of the GLP is recoverable, which is worth about $2.4 million. We are going to reach out to the hacker and... — Lodestar Finance (,) (@LodestarFinance) December 10, 2022 In a similar instance, CertiK said that Lodestar Finance hackers "artificially pumped the price of an illiquid collateral asset which …

According to a Twitter post dated Dec. 11, SHHAN, creator of the black cats nonfungible tokens (NFT) collection Mimic Shhans, explained to users why he was blocking posts on community social pages written in the Chinese language. The move came after users condemned the new measures as discriminatory. According to SHHAN, who is based in South Korea, but created a Chinese post to specifically address the issue: "It is because I previously announced on Twitter and Discord that my team is trying to enter the North American market. Therefore, I recommended everyone to use English when responding to Twitter posts. …

The United States Department of Justice (DOJ) is nearing the completion of its investigation into cryptocurrency exchange Binance, which started in 2018. A report from Reuters suggests there is a conflict among US prosecutors over whether the gathered evidence is enough to press criminal charges against the crypto exchange and its executive or not. The 2018 investigation revolve around Binance’s compliance with the U.S. anti-money laundering (AML) laws and sanctions. The U.S. prosecutors were investigating charges related to unlicensed money transmission, money laundering conspiracy and criminal sanctions violations. The report noted that Binance’s defense attorneys held meetings in recent months …

The ongoing crypto winter is not stopping the industry from pushing for global adoption and accessibility. A new partnership between CoinCorner and Bitnob opens a way for users across continents to perform cross-border transactions involving multiple fiat currencies. Typically transfer of funds between Europe and Africa requires a third-party facilitator like Western Union, which rely on centralized entities. These transactions often have processing times of multiple parties prior to approval and are known for their expensive cuts. World Bank estimates that remittances to Sub-Saharan Africa went upwards of $40 billion yearly as of 2020 —with Nigeria receiving almost half of …

Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks the worst might be over for Bitcoin (BTC) this cycle as the "largest most irresponsible entities" have run out of BTC to sell. "Looking forward, pretty much everyone who could go bankrupt has gone bankrupt,” he said in the Dec. 11 interview with crypto advocate and podcaster Scott Melker. Hayes elaborates on his stance by explaining that when centralized lending firms (CELs) have financial troubles, they will often call in loans first, then sell BTC first because it operates as the “reserve asset of crypto” and “the most pristine …

It is understood that Terraform Labs’ controversial founder and CEO Do Kwon is currently located in the Southeast European nation of Serbia after leaving Singapore in September. According to a Dec. 11 report from Chosun Media, South Korean authorities followed a tip-off concerning Do Kwon's whereabouts suggesting he is now in Serbia and has been able to confirm it. "Recently, we obtained intelligence that CEO Kwon was in Serbia, and it was found to be true," an official told the outlet. The report also states that South Korea’s Ministry of Finance “is in the process of requesting cooperation from the …

The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week. The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has not followed the equities markets lower. This suggests that crypto traders are not panicking and dumping their positions with every downtick in equities. The range-bound action in Bitcoin suggests that traders are avoiding large bets before the Federal Reserve’s rate hike decision on Dec. 14. However, …

The economy is facing an outlook bleaker than a Welsh weather forecast, and few are rushing to buy risk assets. Here are a few tips for weathering unfavorable market conditions. Option #1: Save cash There’s no shame in sitting on the sidelines and saving cash or stablecoins. When bullish momentum returns, you will have plenty of dry powder to make big allocations. In the meantime, there are still lots of opportunities to earn yield across crypto markets as long as you trust the protocol you’re using. But isn’t this timing the market, which is impossible? Possibly. But this is more …

Bitcoin (BTC) price had a mixed reaction on Dec. 9 after the November report on United States producer prices showed a 7.4% increase versus 2021. The data suggested that wholesale costs continued to rise and inflation may last longer than investors had previously believed. Oil prices are also still a focus for investors, with crude WTI hitting a new yearly low at $71.10 on Dec. 8. The United States Dollar Index (DXY), a measure of the dollar’s strength against a basket of top foreign currencies, sustained the 104.50 level, but the index traded at 104.10, a 5-month low on Dec. …

Since their inception, cryptocurrencies have seen rapid growth and widespread market adoption, as evidenced by the assets tied to crypto assets that have started to appear in the portfolios and trading methods of numerous asset managers. The process of purchasing and selling cryptocurrencies to profit is known as cryptocurrency trading. Trading in cryptocurrencies can be defined in terms of its objective, mode of operation and trading approach. For example, the asset being exchanged, or cryptocurrency, is the goal of cryptocurrency trading. The manner in which cryptocurrencies are traded depends on the type of transaction, such as futures, options or perpetual …

It’s not just pro-crypto regulations but also a supporting infrastructure that allows sustainable crypto adoption in any jurisdiction. Weighing in factors such as the number of Bitcoin (BTC) ATMs, blockchain companies and public interest in cryptocurrencies, Florida comes out as the most crypto-ready state in the United States. The US hosts a network of 33,865 Bitcoin ATMs, representing 87.1% of total crypto ATM installations worldwide. In addition, the nation contributes to 37.8% of the global Bitcoin hash rate, which makes the US the most dominant player in crypto. However, a state-wise analysis reveals that not all 50 states are equally …

In May 2022, Terraform Labs’ LUNA cryptocurrency and TerraUSD (UST) stablecoin collapsed, triggering a massive shock in the crypto industry. Six months later, the bruised industry took another hammering as one of the largest cryptocurrency exchanges, FTX, filed for bankruptcy protection and billions of dollars of user assets went missing. The FTX empire, once valued at more than $30 billion, fell to zero in fewer than 10 days. FTX reportedly has more than 1 million creditors, most of whom are retail investors who were convinced that FTX would not collapse and had been keeping their assets on the exchange. Taking …