As per reports, crypto exchange Coinbase, crypto lender Cels | CoinGabbar on Binance Square

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As per reports, crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank.
#coingabbar #coinbase #celsius #paxos #signaturebank 

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Ronin Bridge Hack: What Went Wrong and How $10 Million Was Stolen Understanding the Ronin Bridge Hack: Causes, Impact, and Lessons Learn On August 16, Verichains, a blockchain security firm, reported a significant update on the Ronin Bridge hack case. The firm revealed that a $10 Million exploit on the Ronin bridge on August 6 was due to a faulty upgrade deployment script. The upgrade mistakenly set the validator voting threshold to zero, enabling users to withdraw funds without the required signatures. The error occurred because developers failed to initialize a critical variable during the upgrade. Consequently, a malicious actor exploited this vulnerability, front-run by an MEV bot, to steal over $10 Million in cryptocurrency including Ethereum (ETH) and USD Coin (USDC). At press time, ETH price was trading at $2,600.75, after an intraday spike of 0.22% with $312,859,132,182 in the market cap and $12,209,926,439 in 24-hour volume. USDC, alternatively, hovering at $1.00 with $34,838,535,046 in market cap and $5,141,560,579 in 24-hour volume. Although most of the funds were returned, the incident highlights the risks associated with upgradeable smart contracts. The Ronin Network, known for hosting Axie Infinity, confirmed that the exploit stemmed from a misinterpretation of the required validator vote threshold following the upgrade. Ronin Bridge Hack Overview On 6th August, the Ronin Network was hacked, and the attackers made away with about $9. 8 Million in ETH and $2 Million in USDC. This incident showcases the platform’s troubled history, which includes a massive $600 Million hack in March 2022. Visit:- CoinGabbar

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How Do You Mine Crypto – Mastering the Art of Crypto Mining How Do You Mine Cryptocurrency By Exploring What is Cryptocurrency What is Cryptocurrency? Before exploring or diving into mining, it's really important to understand what cryptocurrency is really. Cryptocurrency is a digital or virtual currency that uses cryptography for security, operating independently of central banks. Bitcoin, the first and most famous cryptocurrency, opened the way for thousands of alternative coins, or "altcoins." What is Crypto Mining? Crypto mining, or cryptocurrency mining, is the process of validating transactions on a blockchain network and earning rewards in the form of new coins. But how do you mine cryptocurrency? Let's break it down. Visit:- CoinGabbar

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As the Digital Humans Market Nears $22B, Antix Taps Into Web3 and Crypto with Its AVAGEN Solution Antix’s AVAGEN: Revolutionizing Digital Humans in Web3 In 2023, the digital humans market almost hit $21.7 billion, boasting a 46.6% CAGR from 2024 to 2031. AI avatars are bringing a big shift to the digital space, making it easy to create custom characters, cranking up efficiency, and providing superior customer service around the clock. Riding the wave of the latest trends, Antix, a Web3 innovator using AI in its operations, has made its move into the crypto market. With its AVAGEN technology, Antix is set to create lifelike, ultra-detailed digital twins that can seamlessly navigate multiple industries. Roman Cyganov, founder and CEO of Antix, shared his commentary on Antix's expansion into the crypto market with Coin Gabbar: ‘’We’re entering a period where digital humans and cryptocurrencies are starting to come together in ways we’ve only imagined before. At Antix, we didn't just see an opportunity – we seized it, and implemented cryptocurrency into the heart of AVAGEN, breathing life into a system that delivers on its promise of stronger connections and tangible rewards.’’ “With more than 66% of the world online and spending close to seven hours each day on digital activities, the need for more personalized and engaging digital experiences is skyrocketing," Roman adds. "In fact, studies show that customers are 87% more likely to engage with a brand that provides a personalized experience.’’ The Application of AI Digital Humans AVAGEN’s digital humans have a diverse range of applications across both Web2 and Web3 worlds. They can solve common issues in customer support with a human touch. For example, they can handle tons of questions at once, giving quick responses and saving human staff time. Visit:- CoinGabbar

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Expert Questions Bitcoin's Ability to Overtake the Dollar Why Bitcoin Isn’t Ready to Dethrone the Dollar Says Financial Analyst As digital money is increasing in every sector, many people think that cryptocurrencies like Bitcoin can replace traditional currencies. But a Russian financial expert, Viktor Pershikov, recently shared his thoughts on this hottopic, offering a fresh perspective on the future of money. Pershikov, who has been studying financial markets for over 15 years, believes that while cryptocurrencies are useful, they won't be taking the U.S. dollar's crown anytime soon. This comes at a time when Russia is looking for new ways to handle money after facing economic sanctions due to the conflict with Ukraine. "Cryptocurrencies can do some of the same jobs as regular money," Pershikov explained. "But they're not ready to replace the U.S. dollar yet." He pointed out a big problem with using Bitcoin for everyday transactions: its value changes too quickly. "While you're sending Bitcoin to someone, its price could go up or down before it even gets there," he said. This unpredictability makes it tricky for businesses and people to use cryptocurrencies regularly. Visit:- CoinGabbar

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Allnodes Launches Node Snapshots To Provide Better Node Syncing For Users Allnodes Launches Free Node Snapshots for Faster Syncing Allnodes, a non-custodial platform that simplifies blockchain node hosting and staking, recently launched its Node Snapshots service to improve node synchronization and restoration. This service is free and supports syncing nodes on nearly 100 blockchains, including Ethereum, Polygon, Fantom, Optimism, and Arbitrum. Improved Node Synchronization Across Blockchains Blockchain node synchronization is often a time-consuming and resource-intensive process, with setup times sometimes stretching into weeks or even months due to the substantial storage and processing requirements involved. Allnodes’ Node Snapshots service addresses these challenges by providing users with instant access to up-to-date blockchain snapshots. This approach allows for the synchronization or restoration of nodes without the need to download and verify the entire blockchain from scratch, reducing the time and resources required. Visit:- CoinGabbar

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