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Weekend Recap: Hacker Attack on OpenLeverage, WhiteBIT at Paris Blockchain Week Summit, and More
Recent events in the crypto industry have left some feeling less amused on April Fool’s Day.
OpenLeverage, a decentralized margin trading platform, fell victim to hackers who stole approximately $230,000 in assets. The attack, detected by Cyvers Alerts, involved the use of Tornado Cash, a cryptocurrency exchange protocol. PeckShield estimated the total loss at $236,000. OpenLeverage has suspended operations and is investigating the incident, reassuring users that insurance and buyback funds will cover the losses. They confirmed the loss of $220,000 on BNB Chain and $40,000 on Arbitrium, promising to return users’ funds but temporarily closing their services until early next week.
The OpenLeverage team announced the discontinuation of their trading and lending protocol due to a hacker attack, offering a reward for the return of stolen funds.
Elon Musk's April Fool's Day tweet about joining Disney as Chief DEI Officer sparked reactions from the crypto community.
WhiteBIT partnered with major blockchain events - Paris Blockchain Week Summit, which will take place on April 9-11, 2024 in the Louvre, Paris, and TOKEN2049 Dubai, scheduled for April 18-19 in Dubai, UAE, while Anatoly Yakovenko released a white paper for a new low-bandwidth blockchain protocol called BunkerCoin.
Unfortunately, Solareum, a Telegram trading bot, shut down permanently due to security breaches and financial constraints.
#CryptoApril #HotTrens #CryptoHeroes #news #TradingLegends
OpenLeverage, a decentralized margin trading platform, fell victim to hackers who stole approximately $230,000 in assets. The attack, detected by Cyvers Alerts, involved the use of Tornado Cash, a cryptocurrency exchange protocol. PeckShield estimated the total loss at $236,000. OpenLeverage has suspended operations and is investigating the incident, reassuring users that insurance and buyback funds will cover the losses. They confirmed the loss of $220,000 on BNB Chain and $40,000 on Arbitrium, promising to return users’ funds but temporarily closing their services until early next week.
The OpenLeverage team announced the discontinuation of their trading and lending protocol due to a hacker attack, offering a reward for the return of stolen funds.
Elon Musk's April Fool's Day tweet about joining Disney as Chief DEI Officer sparked reactions from the crypto community.
WhiteBIT partnered with major blockchain events - Paris Blockchain Week Summit, which will take place on April 9-11, 2024 in the Louvre, Paris, and TOKEN2049 Dubai, scheduled for April 18-19 in Dubai, UAE, while Anatoly Yakovenko released a white paper for a new low-bandwidth blockchain protocol called BunkerCoin.
Unfortunately, Solareum, a Telegram trading bot, shut down permanently due to security breaches and financial constraints.
#CryptoApril #HotTrens #CryptoHeroes #news #TradingLegends
Binance in Nigeria has escaped custody
#toptranding #HotTrands #HotTrendsView #BinanceAdvice #BinanceERN
👍One of the detained top managers of Binance in Nigeria has escaped custody.
Local media reported that Nadim Anjarwalla escaped custody in Nigeria.
Reportedly, he used a forged passport to leave the country. The authorities in Nigeria are still holding another top manager of the exchange.
Furthermore, there have been allegations in the press regarding Binance's tax evasion.
Nadim Anjarwalla, the regional manager of Binance in East and West Africa, escaped custody and reportedly left the country. This information has been reported by local media.
According to press reports, Anjarwalla left a guest house in Abuja on March 22, 2024. He allegedly used a Kenyan passport to board an international flight.
Police sources stated that he did not have these documents at the time of arrest. There are speculations in the press that the passport was forged.
Local media also reported that allegations of tax evasion have been leveled against him, his colleague Tigran Gambaryan, and Binance. As of the time of writing, the exchange has not commented on these allegations.
Anjarwalla and Gambaryan have been in custody in Nigeria since late February 2024.
Local authorities have accused Binance of devaluing the naira. At one point, there were reports that the company faced a $10 billion fine, but these were refuted.
As part of the investigation, the exchange has been required to provide all information regarding transactions on the platform for the last six months.
👍One of the detained top managers of Binance in Nigeria has escaped custody.
Local media reported that Nadim Anjarwalla escaped custody in Nigeria.
Reportedly, he used a forged passport to leave the country. The authorities in Nigeria are still holding another top manager of the exchange.
Furthermore, there have been allegations in the press regarding Binance's tax evasion.
Nadim Anjarwalla, the regional manager of Binance in East and West Africa, escaped custody and reportedly left the country. This information has been reported by local media.
According to press reports, Anjarwalla left a guest house in Abuja on March 22, 2024. He allegedly used a Kenyan passport to board an international flight.
Police sources stated that he did not have these documents at the time of arrest. There are speculations in the press that the passport was forged.
Local media also reported that allegations of tax evasion have been leveled against him, his colleague Tigran Gambaryan, and Binance. As of the time of writing, the exchange has not commented on these allegations.
Anjarwalla and Gambaryan have been in custody in Nigeria since late February 2024.
Local authorities have accused Binance of devaluing the naira. At one point, there were reports that the company faced a $10 billion fine, but these were refuted.
As part of the investigation, the exchange has been required to provide all information regarding transactions on the platform for the last six months.
Returning to 2021?
#HotTrends #TrendingTopic:
The crypto market in 2024 mirrors the trends seen in 2021. NFTs were significant then, but now modular and Layer 2 chains dominate, indicating a new technological trend. Tokens like Celestia (TIA) and Near Protocol (NEAR) emphasize innovation and scalability, attracting investor interest. The latest one, which envisages integration of WhiteBIT, is heating the interest with free USDT and USDC withdrawal and their $HOT futures pairing is also breaking records.
The main scalability players were switched as well, with Telegram entering the game. Regardless of its native Telegram Open Network, it has also unlocked the doors for a vast number of projects, i.e. HOT – the centerpiece of the aforementioned NEAR ecosystem.
Adoption, or Decentralization?
Crypto enthusiasts have spent over a decade exploring real-world applications. Initially met with skepticism from traditional finance, decentralized currencies have gradually gained acceptance. Now, not only can we buy goods with crypto, but investing in Bitcoin through approved ETFs has become effortless. Tokens like HOT exemplify this shift by facilitating fiat transactions on the blockchain, including soon-to-be-unlocked Ethereum-based transactions. This reflects a changed perspective on investing, token development, and distribution, while maintaining a commitment to maximal decentralization.
It’s all fun and games until it’s educative
The rise of memecoins signals a new trend in crypto investment, surpassing Bitcoin, Ether, and NFTs in popularity by 2024 despite concerns about their tokenomics. The evolving crypto market underscores the importance of education, as shown by a 2022 survey indicating growing interest in crypto education among American parents and college students. Memecoins play a significant role in increasing public awareness and education about crypto, attracting more users to the community and accelerating crypto adoption. Despite advancements, caution against FOMO, FUD, and other harmful tactics is crucial in the crypto market.
#HotTrends #TrendingTopic:
The crypto market in 2024 mirrors the trends seen in 2021. NFTs were significant then, but now modular and Layer 2 chains dominate, indicating a new technological trend. Tokens like Celestia (TIA) and Near Protocol (NEAR) emphasize innovation and scalability, attracting investor interest. The latest one, which envisages integration of WhiteBIT, is heating the interest with free USDT and USDC withdrawal and their $HOT futures pairing is also breaking records.
The main scalability players were switched as well, with Telegram entering the game. Regardless of its native Telegram Open Network, it has also unlocked the doors for a vast number of projects, i.e. HOT – the centerpiece of the aforementioned NEAR ecosystem.
Adoption, or Decentralization?
Crypto enthusiasts have spent over a decade exploring real-world applications. Initially met with skepticism from traditional finance, decentralized currencies have gradually gained acceptance. Now, not only can we buy goods with crypto, but investing in Bitcoin through approved ETFs has become effortless. Tokens like HOT exemplify this shift by facilitating fiat transactions on the blockchain, including soon-to-be-unlocked Ethereum-based transactions. This reflects a changed perspective on investing, token development, and distribution, while maintaining a commitment to maximal decentralization.
It’s all fun and games until it’s educative
The rise of memecoins signals a new trend in crypto investment, surpassing Bitcoin, Ether, and NFTs in popularity by 2024 despite concerns about their tokenomics. The evolving crypto market underscores the importance of education, as shown by a 2022 survey indicating growing interest in crypto education among American parents and college students. Memecoins play a significant role in increasing public awareness and education about crypto, attracting more users to the community and accelerating crypto adoption. Despite advancements, caution against FOMO, FUD, and other harmful tactics is crucial in the crypto market.
The beginning of a "Bull Run". Last squeeze✌🏻
#TrendingTopic #BullMarket📈 #BullRun🐂 #news
Financial analyst PlanB announces the commencement of a bullish trend, signaling the conclusion of Bitcoin's accumulation phase and ushering in a 10-month period marked by significant price surges and occasional -30% declines.
The Stock-to-Flow (S2F) strategy, pioneered by anonymous investor PlanB, forecasts Bitcoin's valuation based on its scarcity, quantified by the SF ratio.
SF measures the ratio of an asset's existing supply to its incoming flow, serving as an indicator of scarcity. Bitcoin's SF currently stands at 56.9 over a 10-day period and 55.5 over 463 days, with the upcoming halving event expected to impact the incoming supply.
PlanB previously predicted Bitcoin's market capitalization to surpass $1 trillion and its price to exceed $55,000 post the 2020 halving.
Critics argue that the model lacks empirical evidence and overlooks Bitcoin's historical trajectory. Some traders utilize the Stock-to-Flow Deflection indicator to assess Bitcoin's value relative to the SF model.
The model's reliance on linear regression and simplistic scarcity metrics has attracted criticism from experts like Vitalik Buterin and Nico Cordeiro.
However, external factors such as the potential cross-chain collaboration between WhiteBIT and NEAR, projecting increased HOT token mining activity and USDT/USDC usage, may significantly impact the cryptocurrency landscape.
Using the Stock-to-Flow model, PlanB accurately predicted Bitcoin's growth to $55,000. While the model has been refined, it remains applicable solely to cryptocurrency assets.
The creator of Stock-to-Flow and its proponents acknowledge that the exponential rise in Bitcoin's price will likely taper off, potentially diminishing the model's relevance. Nevertheless, they maintain that Bitcoin's value will continue to appreciate due to its inherent undervaluation and scarcity.
#TrendingTopic #BullMarket📈 #BullRun🐂 #news
Financial analyst PlanB announces the commencement of a bullish trend, signaling the conclusion of Bitcoin's accumulation phase and ushering in a 10-month period marked by significant price surges and occasional -30% declines.
The Stock-to-Flow (S2F) strategy, pioneered by anonymous investor PlanB, forecasts Bitcoin's valuation based on its scarcity, quantified by the SF ratio.
SF measures the ratio of an asset's existing supply to its incoming flow, serving as an indicator of scarcity. Bitcoin's SF currently stands at 56.9 over a 10-day period and 55.5 over 463 days, with the upcoming halving event expected to impact the incoming supply.
PlanB previously predicted Bitcoin's market capitalization to surpass $1 trillion and its price to exceed $55,000 post the 2020 halving.
Critics argue that the model lacks empirical evidence and overlooks Bitcoin's historical trajectory. Some traders utilize the Stock-to-Flow Deflection indicator to assess Bitcoin's value relative to the SF model.
The model's reliance on linear regression and simplistic scarcity metrics has attracted criticism from experts like Vitalik Buterin and Nico Cordeiro.
However, external factors such as the potential cross-chain collaboration between WhiteBIT and NEAR, projecting increased HOT token mining activity and USDT/USDC usage, may significantly impact the cryptocurrency landscape.
Using the Stock-to-Flow model, PlanB accurately predicted Bitcoin's growth to $55,000. While the model has been refined, it remains applicable solely to cryptocurrency assets.
The creator of Stock-to-Flow and its proponents acknowledge that the exponential rise in Bitcoin's price will likely taper off, potentially diminishing the model's relevance. Nevertheless, they maintain that Bitcoin's value will continue to appreciate due to its inherent undervaluation and scarcity.
The news that killed me yesterday...🤐
Bybit raised the commission for futures trading for 10 countries, including Ukraine🤡
Having used this exchange, I did not suspect that they would sink so low and lose their users among the former CIS countries.
Because raising the commission just from the sky is as stupid as possible.
Working with other exchanges, such as MEXC or WB or OKX, I never noticed sudden changes in trading conditions, as they always warn about them and it is always justified.
But Bybit is just the disappointment of the year...
What do you think for this news🤔
#TrendingTopic #Bybit #exchange #TrendingTopic! #cryptomummy
Bybit raised the commission for futures trading for 10 countries, including Ukraine🤡
Having used this exchange, I did not suspect that they would sink so low and lose their users among the former CIS countries.
Because raising the commission just from the sky is as stupid as possible.
Working with other exchanges, such as MEXC or WB or OKX, I never noticed sudden changes in trading conditions, as they always warn about them and it is always justified.
But Bybit is just the disappointment of the year...
What do you think for this news🤔
#TrendingTopic #Bybit #exchange #TrendingTopic! #cryptomummy
