After a major hack at KuCoin cryptocurrency exchange, cybercriminals continue to move stolen crypto to decentralized exchanges, or DEXes. According to data from crypto transaction tracking service Whale Alert, KuCoin hackers keep sending thousands of dollars worth of Synthetix Network Token (SNX) to Uniswap — the largest decentralized finance (DeFi) protocol by total value locked. On Sept. 28, the hacker completed another batch of transactions moving stolen funds from KuCoin and to major DEX Uniswap. According to data from Whale Alert, the hackers sent at least $1.2 million worth of stolen SNX tokens to the DEX in a series of …

As DeFi projects flock to Ethereum, experts warn the network is not yet ready to support the frenzy. Martin Froehler, a mathematician, former hedge fund manager, and founder of Austrian crypto trading platform Morpher, told Cointelegraph that although Ethereum is the “best thing [the blockchain industry] has” for DeFi, the current capabilities of the network are not enough: “Ethereum can only handle about 15 transactions per second and has a block-time of 15 seconds, which is an eternity in finance. By design everyone interacting with it needs Ether. That is a huge barrier to entry and mass adoption.” Froehler considers …

Daily transactions on the Ethereum blockchain have just recorded a new all-time high amid the general surge of congestion on the network. On Sept. 17, the amount of daily transactions on the Ethereum network amounted to 1,406,000, according to data from major Ethereum browser Etherscan. This is the highest number of daily transactions ever recorded on the Ethereum network. According to Etherscan, the previous all-time high was on Jan. 4, 2018, reaching about 1,350,000 transactions on the day. The new historical high of daily Ethereum transactions comes amid the ongoing boom in decentralized finance, or DeFi, applications. The DeFi industry …

European experts in cryptocurrency tax reporting are joining forces to enter markets in the United States and Canada. Blockpit, an Austria-based crypto compliance expert, has completed a merger with its German competitor CryptoTax, the firm announced on Sept. 8. Both focused on providing crypto tax reporting tools, Blockpit and CryptoTax will now be working together to expand to global jurisdictions like the U.S., Canada, Australia and the United Kingdom in 2021. Currently operating in Germany, Austria and Switzerland, Blockpit and CryptoTax are also planning to extend their European presence with the merger, Blockpit’s representatives said. Klaus Himmer, co-founder and managing …

Dr. Elias Strehle of the Blockchain Research Lab and Lennar Ante of the University of Hamburg recently warned that blockchain nodes engaging in exclusive mining “have no incentive to forward new transactions to their peers.” They speculated that crypto miners may instead be incentivized to keep transactions confidential “in the hope of being the only one who can earn the associated transaction fees.” Exclusive mining, which is a type of collusion between a transaction initiator and a single miner or pool, uses private channels to confirm transactions rather than broadcasting them on the public blockchain. It is only after they …

High gas fees for transactions on the Ethereum blockchain are at record highs amid the decentralized finance hype that has attracted many new users to get on board on the Ethereum network. A group of respected computer scientists involved in the DeFi space got together on Sept. 3 for Cointelegraph China’s DeFi Marathon event shared their thoughts on the high gas fee potential solutions. Although they have different opinions on solutions, they all agreed that Ethereum 2.0 is not the answer to high transaction costs. Sergej Kunz, CEO of decentralized exchange 1inch, Mounir Benchemled, the Founder and CEO of ParaSwap, …

Digital asset markets were on a parabolic surge until investor confidence took a major hit to close out the week with a bearish tilt due to a perfect storm of negativity. Before reading the rundown, catch up on the most-read stories centered around the price of Bitcoin, the macroeconomic picture and the DeFi phenomenon gaining traction. Bitcoin price, stocks and gold plunge in tandem — What’s next? Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800 Yearn.finance’s $140M yETH vault proves investors are ravenous for DeFi Bitcoin mirrors gains of past halvings, suggesting $41K price in 2020 …

On July 30th, over thirty of crypto’s top minds gathered for the largest single-day livestream trading event of its kind. Nine star-studded panels included mainstream trading expert Jon Najarian, macro investors Mike Novogratz and Raoul Pal, and technical analysis specialists Erik Crown and Tone Vays, among many others. Head over to the Cointelegraph YouTube channel now to watch the full recording of Cointelegraph Crypto Traders Live! The Cointelegraph Crypto Traders Live event was made possible by data company Lukka. Lukka focuses on processing blockchain and tokenized asset data to support normal business operations. Their website claims they are “the gold …

This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese authorities proposing tax changes, and Japanese finance company FISCO developing apps for shareholder voting and staking. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck setting up for digital shareholder service As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange's co-founder expressed confidence in the project. Known as Sharely, unveiled in June 2020, the digital shareholder gathering solution allows for participant …

According to information provided by the crypto Twitter account, Whale Alert, 92,857 BTC ($1,092,603,640) were sent from an unknown wallet for a fee just of $4 at current market rates. Although the Bitcoin network is well known for its generally low transaction fees, the cost-per-transaction has increased by over 500% in the last month. Bitcoin Block Bot, another whale alert-style Twitter account, reported on June 27 that a 101,857 BTC transaction had moved 0.5% of all Bitcoin currently in circulation, with a total transaction fee cost of around $0.48. Unknown information We do not know who sent these funds, nor …

The Ministry for Digital Transformation of Ukraine, a major government authority behind local crypto regulation, will be implementing Bitfury’s crypto analytics tool to track crypto transactions. As officially announced on July 23, the Ministry has signed an agreement with Birfury’s crypto compliance product known as Crystal. Bitfury’s Crystal to provide crypto analytics expertise to the Ukraininan government Launched by Bitfury in early 2018, Crystal is a software stack that is designed to fight crimes involving cryptocurrencies like Bitcoin (BTC). Crystal employees will now provide the Ministry with crypto analytics expertise, Crystal elaborated on its website. The executives at the Ministry …

Thailand’s central bank has reportedly entered a new phase in the development of its central bank digital currency, or CBDC. The Bank of Thailand, or BOT, has reportedly deployed its CBDC, and has been using the digital currency for financial transactions with some large businesses, local English-language newspaper The Nation reports July 16. Thailand to roll out CBDC testing with the Hong Kong’s central bank in September The bank has entered the third phase in development of the digital baht and plans to expand to more businesses, BOT assistant governor, Vachira Arromdee, reportedly announced on Wednesday. According to the report, …