Rumors and speculations surrounding former FTX CEO Sam Bankman-Fried (SBF) continue to bombard the crypto community as the effects of the FTX collapse proceeds to be felt throughout the crypto space. One of the rumors floating around social media is that SBF filed a masterclass on trading that was scheduled to drop on December. With the former FTX CEO being the center of attention in the past few weeks, some community members pointed out that they were willing to pay $500 for leaks on footage of SBF's class on trading. RUMOR: SBF did a MasterClass on trading that was set …

The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether (ETH) whale status. Just a day after the embattled FTX exchange filed for Chapter 11 bankruptcy, its wallets were drained for more than $663 million in various crypto assets, according to blockchain intelligence company Elliptic. Elliptic suspected $477 million of this was stolen, with a large chunk of those tokens being then converted into ETH, while $186 million worth of more than a hundred different tokens was believed to be moved into secure storage by FTX itself. As reported by …

Users losing funds due to malicious activity is hardly unknown on Ethereum. In fact, it is the very reason researchers recently developed a proposal to introduce a type of token that is reversible in the event of a hack or other unsavory behaviors. Specifically, the suggestion would see the creation of an ERC-20R and ERC-721R, which would be modified versions of the standards that govern both regular Ethereum tokens and nonfungible tokens (NFTs). The premise goes like this: this new standard would allow users to make a “freeze request” on recent transactions that would lock those funds until a “decentralized …

On the night of Nov. 11, several wallet addresses linked to FTX were found transferring millions of dollars worth of cryptocurrencies without an official notice — sparking speculations ranging from the commencement of FTX’s bankruptcy proceedings to the involvement of hackers. Within hours, FTX confirmed on Telegram that the fund transfers were part of an ongoing hack. Following FTX’s confirmation on Telegram about the hack, as shown above, Tether proactively blacklisted $31.4 million worth of USDT tokens linked to the transactions. As pointed out by blockchain investigator ZachXBT, the blacklisted USDT tokens were made up of $3.9m USDT on Avalanche …

In the aftermath of the $28 million Deribit hack, the unknown exploiter is moving stolen funds using the decentralized cryptocurrency mixer, Tornado Cash. The Deribit hot wallet hacker has transferred a total of 1,610 Ether (ETH), or around $2.5 million, to Tornado Cash, according to data from the Ethereum block explorer Etherscan. The funds were transferred in 17 transactions, with the first outgoing transaction occurring on Nov. 5 —just a few days after Deribit suffered the hack. The amount of funds moved to Tornado Cash is just a fraction of all stolen ETH on the hacker’s address, as its balance …

Celebrating the myriads of accomplishments earned by the crypto ecosystem, Immunefi, Electric Capital, Bitscale Capital and MA Family together hosted The Bug House — a party for bringing together the global Web3 community. In a panel hosted by Cointelegraph editor-in-chief, Kristina Lucrezia Cornèr, sat with Mitchell Amador, founder and CEO at Immunefi and Brendan Eich, founder and CEO of Brave browser to discuss the evolution of Web3 and its future trajectory. “There’s a lot of Web2 in Web3. That’s a problem right now,” began Eich when asked about the ongoing Web2 to Web3 transition. From using trusted servers to sub-custody …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The first week of November proved to be the institutionalization of DeFi markets as major international banks and financial institutions executed and completed their first DeFi transaction. The global financial giant JP Morgan completed its first-ever cross-border transaction using DeFi on a public blockchain with the help of the Monetary Authority of Singapore’s (MAS) Project Guardian. DBS Bank started a trading test of foreign exchange (FX) and government securities using permissioned DeFi liquidity pools. …

Third-party data breaches have exploded. The problem? Companies, including cryptocurrency exchanges, don’t know how to protect against them. When exchanges sign new vendors, most just innately expect that their vendors employ the same level of scrutiny as they do. Others don’t consider it at all. In today’s age, it isn’t just a good practice to test for vulnerabilities down the supply chain — it is absolutely necessary. Many exchanges are backed by international financiers and those new to financial technologies. Many are even new to technology altogether, instead backed by venture capitalists looking to get their feet wet in a …

It would seem that the hackers used an “oracle price manipulation” tactic in the exploit on the Solana-based DeFi network, as indicated by a tweet sent by the official account for the Mango cryptocurrency exchange. In mid-October, traders took advantage of a vulnerability in the decentralized finance (DeFi) trading platform Mango Markets and stole more than $110 million worth of cryptocurrencies off the network. We are currently investigating an incident where a hacker was able to drain funds from Mango via an oracle price manipulation. We are taking steps to have third parties freeze funds in flight. 1/ — Mango …

Welcome back to the day two coverage of Web Summit, one of the leading tech conferences in the world, with over 71,000 attendees on day two. The summit is live in person in Lisbon, Portugal after two years. The summit is known to bring together some of the most prolific personalities from the tech world together and in 2022 it's no different. Web3 has increasingly become the most talked about topic in the tech world and Web Summit is no different as leading tech giants such as Apple or Microsoft continue to explore ways to integrate and transition to the …

The month of October has broken all records for crypto exploits and the amount of digital loot pilfered — living up to its new moniker of "Hacktober" — according to the latest figures. On Oct. 31, blockchain security firm PeckShield tweeted some scary statistics for the month, reporting a total of $2.98 billion in stolen digital assets as of Oct. 31, 2022, which is nearly double the $1.55 billion lost in all of 2021. "Hacktober" saw around 44 exploits affecting 53 protocols, it added. Malicious actors made off with a whopping $760 million in the month, however, $100 million had …

Four projects have received some $7 million worth of tokens from the hacker behind the $14.5 million Team Finance exploit on Oct. 27. Over the weekend, the attacker confirmed in a series of messages that they would keep 10% of the stolen fund as a bounty and return the other tokens to the affected projects. The exploiter — a self-described “whitehat” — drained assets from Team Finance through the Uniswap v2-to-v3 migration. As reported by Cointelegraph, liquidity from Uniswap v2 assets on Team Finance were transferred to an attacker-controlled v3 pair with skewed pricing, explained the blockchain security firm PeckShield. …