Chinese regulators, including the Securities Association of China and the China Securities Regulatory Commission (CSRC), held a meeting in Beijing to promote blockchain technology in the securities industry and discuss regulations. In the symposium organized by China Securities Industry Alliance Chain and Off-Site Alliance Chain, the deputy director-general of the Science and Technology Regulatory Bureau of CSRC, Jiang Dongxing, spoke about the consensus of Chinese businesses to digitally transform the securities and futures industry. Citing the 14th Five-Year Plan, which details China’s intent to use blockchain technology, Dongxing mentioned that blockchain technology can build a trust mechanism in the network …

Customers of leading United States crypto exchange Coinbase have spent the weekend panicking after the exchange mistakenly sent emails to users stating that their two-factor authentication (2FA) settings had been changed. On Friday, Coinbase accidentally sent the email to 125,000 of its customers, resulting in widespread public backlash. Coinbase took to Twitter on Sunday to apologize for the mishap, stating, “We’re laser-focused on building trust and security into the crypto community so that the open financial system we all want is a reality. We recognize that issues like this can hurt that trust.” I got the reply and panicked someone …

Cream Finance, a major decentralized finance (DeFi) protocol focused on lending, has suffered a severe exploit, with a hacker stealing nearly $19 million from its platform. An unknown hacker has managed to gain $18.8 million in the latest flash loan exploit of the Cream Finance protocol through a reentrancy bug introduced by the Amp token, according to an investigation by blockchain security firm PeckShield. Announcing the news Monday, Cream Finance said that the protocol has stopped the exploit by pausing supply and borrow contracts on the Amp token. “No other markets were affected,” Cream Finance stated. C.R.E.A.M. v1 market on …

Bilaxy, a lesser-known cryptocurrency exchange, has confirmed a major hacking incident, reporting the losses of funds due to an exploit of the platform’s ERC-20 hot wallet. Bilaxy announced on its Telegram channel that the crypto exchange suffered a “serious hack” on Saturday between 6 pm and 7 pm UTC, resulting in the transfer of 295 different ERC-20 tokens. According to the exchange, the affected tokens were transferred by the hacker to a single address. At the time of writing, the tokens are valued at $170,600, with the most recent transaction sending out 50 Ether (ETH), or about $159,000, on Monday. …

A blockchain-based initiative from the United States Air Force will employ Constellation's Hypergraph Network to provide data security with the Department of Defense’s commercial partners. In a Thursday announcement, Constellation said it had been working with Kinnami Software Corporation to develop an end-to-end data security solution using blockchain encryption and distributed data management for the United States Transportation Command, Air Mobility Command’s 618th Air Operations Center, and a Civil Reserve Air Fleet partner. According to the platform, its goal is to securely exchange data with commercial partners on missions involving the operations of aircraft and ships under contract to the …

Japanese exchange Liquid has been hacked, with about $80 million in digital assets moved off the platform. The exchange confirmed the security breach in a Thursday tweet, with Liquid revealing the wallet addresses implicated in the breach. The exchange noted that only its warm wallets were affected, adding that its assets are currently being moved into cold storage. Withdrawals and deposits have been suspended on Liquid, with the exchange promising to provide regular updates as its investigation unfolds. The following assets had been transferred to hacker's following addresses (Further investigation to come): BTC: 1Fx1bhbCwp5LU2gHxfRNiSHi1QSHwZLf7q ETH/EWT: 0x5578840aae68682a9779623fa9e8714802b59946 TRX: TSpcue3bDfZNTP1CutrRrDxRPeEvWhuXbp XRP: rfapBqj7rUkGju7oHTwBwhEyXgwkEM4yby …

Tether Holdings Ltd, the issuer of the largest stablecoin, Tether (USDT), reported that its total market capitalization had crossed $64 billion for the first time in history. The company called the event a “milestone,” adding that it is another indication of the cryptocurrency market’s “continued trust and confidence” in its stablecoin. Tether’s $USDt market cap hits $64B! A new milestone reached and another indication of the market’s continued trust and confidence in #Tether ! pic.twitter.com/t85i6e6UQt — Tether (@Tether_to) August 16, 2021 In detail, Tether’s business model revolves around providing digitized dollars to cryptocurrency traders and investors. In doing so, the …

Decentralized finance protocol Poly Network has offered the person behind a $610 million hack an advisery position and $500,000 — whether they like it or not. In a Tuesday update, the Poly Network team said, in a seeming attempt to gain access to the hacker’s expertise, that it would be inviting them to the position of chief security adviser. In addition, the project will be sending a $500,000 bounty for the attacker, whom Poly dubbed "Mr. White Hat," despite the fact they have previously refused any payment. “Poly Network has no intention of holding Mr. White Hat legally responsible, as …

The rise of decentralized finance, or DeFi, could be paving the way toward a fully decentralized financial ecosystem. Yet, given the innovative nature of DeFi, the sector remains in constant development and is therefore prone to a number of vulnerabilities. Unsurprisingly, one of the biggest challenges currently facing the DeFi sector is security threats. This has become apparent as more DeFi hacks continue to wreak havoc across the crypto community. Most recently, the largest DeFi hack within the crypto industry took place. The Poly Network hack resulted in over $600 million dollars removed, and then returned, from Binance Chain, Ethereum …

Blockchain security firm CertiK has concluded a $24-million-dollar funding round as part of its ongoing efforts to expand its product and security offerings for the decentralized finance, or DeFi, sector. The funding round, which was co-led by Tiger Global and GL Ventures, comes on the heels of the successful launch of Skynet Premium, an active monitoring platform for DeFi applications. Since its inception, Skynet has monitored over 2 million smart contract addresses and over 2 billion on-chain transactions. Related: Blockchain security firm CertiK raises $37M to combat DeFi and crypto risks CertiK claims to have served over 1,300 enterprise clients …

Crypto criminals are getting more adaptive and smarter than ever before. But how can industry service providers keep up with them? If I say that the crypto industry is highly targeted by cybercriminals and, in particular, organized criminals, I’m sure that no one who has spent a few months within the space would be surprised. And for a valid reason. Due to the new technology and the nascent nature of the sector, criminals and fraudsters have long identified the excellent opportunity that crypto offers to profit via illicit methods. Indeed, any “new” approach to the financial sector is welcomed by …

These transfers have occurred across the three wallets associated with the Poly Network hacker across the Ethereum, Binance Smart Chain (BSC) and Polygon networks. Poly Network confirmed receipt of the returned funds via a tweet issued on Tuesday. Details from Etherscan show that $2 million worth of Shiba Inu (SHIB) and $616,000 in Fei USD (FEI) tokens are being returned. So far, we have received a total value of $4,772,297.675 assets returned by the hacker. ETH address: $2,654,946.051 BSC address: $1,107,870.815 Polygon address: $1,009,480.809 pic.twitter.com/bPFAQk4mvS — Poly Network (@PolyNetwork2) August 11, 2021 Data from BscScan also shows the hacker returning …