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Elon Musk tweeted that they started training on the newly built supercluster X.AI in Memphis, Tennessee, last night.
This data center is equipped with 100,000 H100 GPUs, which is a substantial number compared to META's recently launched clusters of 24,576 #GPUs each, and GPT-4 was rumored to have been trained on 25,000 cards.
Not only are there more chips, but each one is also 2-3 times more powerful. It's hard to provide an exact estimate because much depends on the infrastructure and how different servers #exchange information. The more cards there are, the longer it takes to synchronize them, which reduces utilization.
Roughly estimating, the system could be ten times more powerful than the one used by OpenAI to train their model, considering both the number of cards and the newer generation of chips. Honestly, I didn't expect such a cluster to be operational this year — I thought they might stop at around 75-80 thousand. Especially, I didn't expect this from Elon — since X.AI was the last to jump into the AI race when there were literally no more video cards left!
But if a newcomer could ramp up so quickly in just a year and a half, then probably #OpenAI x #Microsoft or Google might have the capacity to run a single training session that could be 2-3 times larger. I think the claim of "the largest cluster" is debatable (simply because they are not public and we don't know about them).
Anyway, development continues, and we are looking forward to Grok 3 in December — along with models from other leading labs!
#Bitcoin_Coneference_2024
This data center is equipped with 100,000 H100 GPUs, which is a substantial number compared to META's recently launched clusters of 24,576 #GPUs each, and GPT-4 was rumored to have been trained on 25,000 cards.
Not only are there more chips, but each one is also 2-3 times more powerful. It's hard to provide an exact estimate because much depends on the infrastructure and how different servers #exchange information. The more cards there are, the longer it takes to synchronize them, which reduces utilization.
Roughly estimating, the system could be ten times more powerful than the one used by OpenAI to train their model, considering both the number of cards and the newer generation of chips. Honestly, I didn't expect such a cluster to be operational this year — I thought they might stop at around 75-80 thousand. Especially, I didn't expect this from Elon — since X.AI was the last to jump into the AI race when there were literally no more video cards left!
But if a newcomer could ramp up so quickly in just a year and a half, then probably #OpenAI x #Microsoft or Google might have the capacity to run a single training session that could be 2-3 times larger. I think the claim of "the largest cluster" is debatable (simply because they are not public and we don't know about them).
Anyway, development continues, and we are looking forward to Grok 3 in December — along with models from other leading labs!
#Bitcoin_Coneference_2024
Ethereum (ETH) Withdrawals on Exchanges Skyrocket on Spot ETF Mania, Data Says
Massive $ETH
accumulation wave confirmed days ahead of most anticipated #announcement for altcoiners in 2024
$126,000,000 in week: Ethereum (#ETH🔥🔥🔥🔥 ) investors drained #exchange reserves
Spot Ether ETF launch date finally confirmed
Based on Glassnode's data, cryptocurrency analyst Leon Waidmann of BTC-ECHO platform indicates massive accumulation interest of Ethereum (ETH) investors. Owners of ETH bags are moving them out of #exchanges , which typically is a strong bullish indicator.
$126,000,000 in week: Ethereum (ETH) investors drained exchange reserves
Ethereum (ETH) investors are withdrawing their riches from exchanges at an increased pace. As the multi-month trend gained traction, centralized crypto platforms lost $126 million in equivalent in just seven days. The report was shared by Leon Waidmann, a seasoned cryptocurrency analyst, with his X followers.
This trend started in March 2024, but it gained steam only in Q3, 2024. The local "top" of exchanges reserves amount was registered after Ethereum (ETH) set its three-year high above $4,000.
Accelerated withdrawals from exchanges typically are being interpreted as an indicator of investors confidence. As such, amid the new phase of spot ETF hype, Waidmann is enthusiastic about what is next for the ETH price:
Next big ETH rally incoming!
Ethereum (ETH), the second largest cryptocurrency, is changing hands at $3,500 as of press time. In the last 24 hours, its price gained 1%.
Ethereum's (ETH) trading volume lost 15% and declined to $13.3 billion.
Spot Ether ETF launch date finally confirmed
As covered by U.Today previously, on July 20, the U.S. Chicago Board Options Exchange (CBOE) confirmed the launch of spot ETH ETF in the United States at July 23, 2024.
Ethereum ETFs from Fidelity, Invesco Galaxy, Franklin Templeton, VanEck and 21Shares will be available in the first cohort of exchange-traded products based on spot Ether.
While this event is typically expected to be a major bullish catalyst for the Ethereum (ETH) price, some experts are cautious about its role.
Top U.S. bank JP Morgan foresees lower interest in ETFs on Ether compared to this of Bitcoin ETFs in January 2024.
#BinanceHODLerBANANA
accumulation wave confirmed days ahead of most anticipated #announcement for altcoiners in 2024
$126,000,000 in week: Ethereum (#ETH🔥🔥🔥🔥 ) investors drained #exchange reserves
Spot Ether ETF launch date finally confirmed
Based on Glassnode's data, cryptocurrency analyst Leon Waidmann of BTC-ECHO platform indicates massive accumulation interest of Ethereum (ETH) investors. Owners of ETH bags are moving them out of #exchanges , which typically is a strong bullish indicator.
$126,000,000 in week: Ethereum (ETH) investors drained exchange reserves
Ethereum (ETH) investors are withdrawing their riches from exchanges at an increased pace. As the multi-month trend gained traction, centralized crypto platforms lost $126 million in equivalent in just seven days. The report was shared by Leon Waidmann, a seasoned cryptocurrency analyst, with his X followers.
This trend started in March 2024, but it gained steam only in Q3, 2024. The local "top" of exchanges reserves amount was registered after Ethereum (ETH) set its three-year high above $4,000.
Accelerated withdrawals from exchanges typically are being interpreted as an indicator of investors confidence. As such, amid the new phase of spot ETF hype, Waidmann is enthusiastic about what is next for the ETH price:
Next big ETH rally incoming!
Ethereum (ETH), the second largest cryptocurrency, is changing hands at $3,500 as of press time. In the last 24 hours, its price gained 1%.
Ethereum's (ETH) trading volume lost 15% and declined to $13.3 billion.
Spot Ether ETF launch date finally confirmed
As covered by U.Today previously, on July 20, the U.S. Chicago Board Options Exchange (CBOE) confirmed the launch of spot ETH ETF in the United States at July 23, 2024.
Ethereum ETFs from Fidelity, Invesco Galaxy, Franklin Templeton, VanEck and 21Shares will be available in the first cohort of exchange-traded products based on spot Ether.
While this event is typically expected to be a major bullish catalyst for the Ethereum (ETH) price, some experts are cautious about its role.
Top U.S. bank JP Morgan foresees lower interest in ETFs on Ether compared to this of Bitcoin ETFs in January 2024.
#BinanceHODLerBANANA
🌖 Platform See Positives
In recent weeks, #TerraLunaClassic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto #exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of #USTC . $LUNC staking ratio has also neared its all-time high of above 15%. At press time, $USTC has soared 21.7% in the last 24 hours to trade at $0.02002.
#BinanceHODLerBANANA #BinanceTournament
In recent weeks, #TerraLunaClassic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto #exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of #USTC . $LUNC staking ratio has also neared its all-time high of above 15%. At press time, $USTC has soared 21.7% in the last 24 hours to trade at $0.02002.
#BinanceHODLerBANANA #BinanceTournament
Street forecasts on Coinbase stock are 'too bullish': Needham
Needham & Company has expressed optimism about Coinbase's position for 2024, citing the company's product growth, international expansion, and the launch of its Base chain as positive developments. They increased their price target for Coinbase to $180 from $160 per share.
Conversely, Barclays, while acknowledging improved trading volumes and asset prices, cautioned about risks and raised their price target to $110 from $67 per share, reflecting a more conservative outlook.
👇👇👇
$BNB
$SOL
$RUNE
#exchange #CoinbaseEffect #ETHETFsApproved #BinanceTournament #ETH_ETF_Approval_23July
Needham & Company has expressed optimism about Coinbase's position for 2024, citing the company's product growth, international expansion, and the launch of its Base chain as positive developments. They increased their price target for Coinbase to $180 from $160 per share.
Conversely, Barclays, while acknowledging improved trading volumes and asset prices, cautioned about risks and raised their price target to $110 from $67 per share, reflecting a more conservative outlook.
👇👇👇
$BNB
$SOL
$RUNE
#exchange #CoinbaseEffect #ETHETFsApproved #BinanceTournament #ETH_ETF_Approval_23July
🚨🚨📌 WazirX Emergency Update ‼️⚠️🚨
WazirX Hack: Lessons Learned and Crypto Regulation Impact
*Breaking News:* WazirX, one of India's top exchanges, has been hacked, resulting in a loss of $230M+
*Impact on Crypto Regulation:*
- Stricter regulations expected in India
- Clampdown on crypto industry may affect Indian traders
*Lessons Learned:*
1️⃣ *No exchange is completely safe*: Avoid keeping long-term funds on exchanges, no matter how big they are.
2️⃣ *FIU compliance doesn't guarantee security*: Even with compliance, exchanges can still be vulnerable to hacks.
3️⃣ *Indian exchanges lag behind foreign exchanges*: In terms of security, liquidity, and trust, Indian exchanges still have a long way to catch up.
*Current Status:* Withdrawals suspended on WazirX. Hoping the team finds a solution to return customers' funds.
🔔 Stay informed with Kaleem's Crypto Mehfil !
KCM: Connecting Crypto Minds, Har Roz! 🔗
✅ Like 👍 | Comment 💬 | Retweet 🔁 |
Follow me for more updates! 👉 @KaleemCryptoMehfil-KCM
Let's keep the conversation going! 💬
#KaleemsCryptoMehfilKCM #wazirX #exchange #HackerNews #BinanceTournament $WRX
WazirX Hack: Lessons Learned and Crypto Regulation Impact
*Breaking News:* WazirX, one of India's top exchanges, has been hacked, resulting in a loss of $230M+
*Impact on Crypto Regulation:*
- Stricter regulations expected in India
- Clampdown on crypto industry may affect Indian traders
*Lessons Learned:*
1️⃣ *No exchange is completely safe*: Avoid keeping long-term funds on exchanges, no matter how big they are.
2️⃣ *FIU compliance doesn't guarantee security*: Even with compliance, exchanges can still be vulnerable to hacks.
3️⃣ *Indian exchanges lag behind foreign exchanges*: In terms of security, liquidity, and trust, Indian exchanges still have a long way to catch up.
*Current Status:* Withdrawals suspended on WazirX. Hoping the team finds a solution to return customers' funds.
🔔 Stay informed with Kaleem's Crypto Mehfil !
KCM: Connecting Crypto Minds, Har Roz! 🔗
✅ Like 👍 | Comment 💬 | Retweet 🔁 |
Follow me for more updates! 👉 @KaleemCryptoMehfil-KCM
Let's keep the conversation going! 💬
#KaleemsCryptoMehfilKCM #wazirX #exchange #HackerNews #BinanceTournament $WRX
SEC Explains Why #TerraLunaClassic , MATIC & 3 Other Crypto Are Securities
In a recent litigation filed by the U.S. Securities and #exchange Commission (SEC) against Consensys, the agency has clarified its stance on the classification of several prominent cryptocurrencies as securities. These include Terra Luna Classic ($LUNA ), Polygon ($MATIC ), The Sandbox (SAND), Chiliz (CHZ), and Decentraland ($MANA ). This legal action underscores the SEC’s contention that these digital assets were initially offered and sold as investment contracts.
Hence, the SEC believes these cryptocurrencies fall under the regulatory purview of securities laws. For context, #Consensys , a major player in the crypto space, has been targeted for allegedly facilitating the trading of these assets through its #Metamask Swaps platform.
The US SEC argues that each of these tokens was marketed with promises of future profits derived from the efforts of the issuing entities, Consensys and related third parties. This expectation of profit was cultivated through various means. These include public statements, marketing materials, and the operational strategies outlined by the token issuers.
#ETH_ETF_Approval_23July
In a recent litigation filed by the U.S. Securities and #exchange Commission (SEC) against Consensys, the agency has clarified its stance on the classification of several prominent cryptocurrencies as securities. These include Terra Luna Classic ($LUNA ), Polygon ($MATIC ), The Sandbox (SAND), Chiliz (CHZ), and Decentraland ($MANA ). This legal action underscores the SEC’s contention that these digital assets were initially offered and sold as investment contracts.
Hence, the SEC believes these cryptocurrencies fall under the regulatory purview of securities laws. For context, #Consensys , a major player in the crypto space, has been targeted for allegedly facilitating the trading of these assets through its #Metamask Swaps platform.
The US SEC argues that each of these tokens was marketed with promises of future profits derived from the efforts of the issuing entities, Consensys and related third parties. This expectation of profit was cultivated through various means. These include public statements, marketing materials, and the operational strategies outlined by the token issuers.
#ETH_ETF_Approval_23July
The Mt. Gox Hack: A Cautionary Tale of Cryptocurrency's Darkest Hour.
hack of Mt. Gox. Mt. Gox was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions at its peak.
In 2014, Mt. Gox declared bankruptcy after losing approximately 850,000 Bitcoins (💰 worth around $450 million at the time) due to a series of hacks and mismanagement. This event shook the entire crypto community 😱 and led to significant skepticism 🤔 and regulatory scrutiny of cryptocurrency exchanges 🕵️♂️.
The Mt. Gox hack remains one of the most infamous events in the history of Bitcoin 🪙, serving as a stark reminder of the importance of security 🔐 and regulation 📜 in the cryptocurrency industry. Years later, efforts to recover the lost funds 💸 and compensate the affected users are still ongoing ⏳. The incident also highlighted the need for better oversight 👀, more robust security measures 🛡️, and increased user awareness 🧠 in the crypto space.
don't forget to like our post and also press the follow button Thanks.
#cryptocurrency #investment #exchange #dollars $BTC
hack of Mt. Gox. Mt. Gox was once the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions at its peak.
In 2014, Mt. Gox declared bankruptcy after losing approximately 850,000 Bitcoins (💰 worth around $450 million at the time) due to a series of hacks and mismanagement. This event shook the entire crypto community 😱 and led to significant skepticism 🤔 and regulatory scrutiny of cryptocurrency exchanges 🕵️♂️.
The Mt. Gox hack remains one of the most infamous events in the history of Bitcoin 🪙, serving as a stark reminder of the importance of security 🔐 and regulation 📜 in the cryptocurrency industry. Years later, efforts to recover the lost funds 💸 and compensate the affected users are still ongoing ⏳. The incident also highlighted the need for better oversight 👀, more robust security measures 🛡️, and increased user awareness 🧠 in the crypto space.
don't forget to like our post and also press the follow button Thanks.
#cryptocurrency #investment #exchange #dollars $BTC
🕵🏻♀️ Analysts at Arkham believe that one of the wallets that received bitcoins from Mt. Gox today belongs to the cryptocurrency #exchange Kraken.
👀 This morning, 48,641 #BTC☀ ($3.10 billion) were sent to this address and remain unspent. Another 43,114 BTC, worth $2.74 billion, that were moved today are still under the control of the Mt. Gox trustee in two wallets.
🐙 #Kraken has already sent emails to Mt. Gox creditors, informing them that the coins will be credited to their accounts within 7 to 14 days.
Meanwhile, an official announcement from #MtGox Trustee Nobuaki Kobayashi states that $BTC and $BCH have already been returned to 13,000 clients of the bankrupt exchange. 🧐
#ETH_ETF_Approval_23July
👀 This morning, 48,641 #BTC☀ ($3.10 billion) were sent to this address and remain unspent. Another 43,114 BTC, worth $2.74 billion, that were moved today are still under the control of the Mt. Gox trustee in two wallets.
🐙 #Kraken has already sent emails to Mt. Gox creditors, informing them that the coins will be credited to their accounts within 7 to 14 days.
Meanwhile, an official announcement from #MtGox Trustee Nobuaki Kobayashi states that $BTC and $BCH have already been returned to 13,000 clients of the bankrupt exchange. 🧐
#ETH_ETF_Approval_23July
Memecoin
📈💰 Whale of Wall Street Strikes Again!
Hold onto your hats, crypto fans! In a twist no one saw coming, a crypto whale just rode the MAGA ($TRUMP) meme coin wave straight to an $8 million profit. 🐳💸
It all kicked off after yesterday's shocking assassination attempt on #donaldtrump . 🎯 The crypto market went wild, with meme coins leading the charge. Trump, showing his trademark resilience, was shot but still managed to throw a defiant fist to the crowd, sparking a surge of enthusiasm and support.
Our mysterious hero, the Gigantic-Cassocked-Rebirth (GCR) trader, seized the moment. Depositing 1.08 million TRUMP coins into the BTSE #exchange , this savvy trader turned a $540,700 investment into a whopping $8.3 million profit. 🤑
The assassination attempt didn't just boost TRUMP coins; #Bitcoin❗ also jumped from $59K to $63K. 📈 Thanks to Trump's pro-crypto vibes, the market reacted like it was 2017 all over again.
So, in the wild world of crypto, it seems even bullets can't stop a bull market! 🚀🔫
#Mt_Gox_BTC_Dip #ETH_ETF_Approval_23July
📈💰 Whale of Wall Street Strikes Again!
Hold onto your hats, crypto fans! In a twist no one saw coming, a crypto whale just rode the MAGA ($TRUMP) meme coin wave straight to an $8 million profit. 🐳💸
It all kicked off after yesterday's shocking assassination attempt on #donaldtrump . 🎯 The crypto market went wild, with meme coins leading the charge. Trump, showing his trademark resilience, was shot but still managed to throw a defiant fist to the crowd, sparking a surge of enthusiasm and support.
Our mysterious hero, the Gigantic-Cassocked-Rebirth (GCR) trader, seized the moment. Depositing 1.08 million TRUMP coins into the BTSE #exchange , this savvy trader turned a $540,700 investment into a whopping $8.3 million profit. 🤑
The assassination attempt didn't just boost TRUMP coins; #Bitcoin❗ also jumped from $59K to $63K. 📈 Thanks to Trump's pro-crypto vibes, the market reacted like it was 2017 all over again.
So, in the wild world of crypto, it seems even bullets can't stop a bull market! 🚀🔫
#Mt_Gox_BTC_Dip #ETH_ETF_Approval_23July
🚨 JUST IN: Starting July 19, 2024, #Upbit will fully comply with the new Virtual Asset User Protection Act.
The law mandates enhanced info disclosure, stricter monitoring of abnormal trading, and new disclosure protocols.
This means Upbit will continue #listing but with more rigorous oversight and transparency requirements.
#upbitupdate #exchange #TrendingTopic
The law mandates enhanced info disclosure, stricter monitoring of abnormal trading, and new disclosure protocols.
This means Upbit will continue #listing but with more rigorous oversight and transparency requirements.
#upbitupdate #exchange #TrendingTopic
"QuadrigaCX: Cryptocurrency Exchange Collapse"
In 2018, QuadrigaCX, Canada's largest crypto exchange, faced a crisis when CEO Gerald Cotten died unexpectedly 😞, taking with him passwords to cold wallets containing $190 million CAD 💸. Customers lost access to funds amid allegations of mismanagement and speculation about an exit scam, highlighting risks in trusting centralized exchanges and the importance of secure custodial practices 🔐.
don't forget to like our post and also press the follow button👍
#cryptocurrency #exchange #crypto #largestcryptoexchange
In 2018, QuadrigaCX, Canada's largest crypto exchange, faced a crisis when CEO Gerald Cotten died unexpectedly 😞, taking with him passwords to cold wallets containing $190 million CAD 💸. Customers lost access to funds amid allegations of mismanagement and speculation about an exit scam, highlighting risks in trusting centralized exchanges and the importance of secure custodial practices 🔐.
don't forget to like our post and also press the follow button👍
#cryptocurrency #exchange #crypto #largestcryptoexchange
Terra Luna Classic (LUNC) Announces Oracle Split Logic Update, Futures Surge 20%
With staking being the pillar of any healthy DeFi ecosystem, the developers of #TerraLunaClassic (LUNC) have announced a long-awaited update that will massively boost staking rewards in the ecosystem.
As Crypto News Flash reported last month, one leading $LUNC developer had proposed adjustments to the network’s burn tax distribution. His proposal allocated 10% of the tax to the Oracle Pool. In the Terra Luna Classic ecosystem, the Oracle module furnishes the network with up-to-date price feeds of #exchange rates in the real world and is the foundation of the network’s DeFi.
As one of the key developers revealed Wednesday, the Oracle split logic has finished and the testnet is ongoing.
The Oracle split is contained in proposals 12098 and 12114, which are part of Release v3.1.0. It will divert community pool rewards to the Oracle Pool, slowing down its depletion rate (the rewards originate from the tax split.
Under the existing mechanisms, Terra Luna Classic has a 0.5% burn rate—80% of it goes to burns, and the remainder is distributed to rewards and the Community Pool. It is this 20% that the new proposal targets, recommending that it be split between the Community Pool and the #Oracle Pool.
The proposal isn’t popular in some quarters. A key grievance is its obvious implication on block rewards for #LUNC✅ validators—under the new mechanism, block rewards would come exclusively from gas fees. The annual percentage rate is also expected to dip by 0.5%. Some experts have even warned that passing the proposal could lead to immediate price declines.
However, the proponents point out that this shift would benefit the ecosystem in the long run, primarily by boosting staking.
LUNC staking has grown massively in recent months. As Crypto News Flash reported two weeks ago, the staked LUNC hit 1 trillion amid aggressive growth since the start of June. This growth continues, with the community staking just under 250 million LUNC in the past 24 hours and over nine billion tokens in the past week. Overall, staked LUNC accounts for 15.09% of the total tokens, sitting just marginally below the all-time record achieved last October.
On the trading front, LUNC has dipped slightly over the past day to trade at $0.00007117 amid a 21% drop in the trading volume.
As one analyst points out, the token has been trading inside a falling channel and changes hands below its 50-day and 200-day simple moving averages (SMAs). If it finds strong support, the analyst expects LUNC to surge 67% and hit $0.00017. However, if it fails to hold up, the next support will be further down at $0.00005646.
As Crypto News Flash reported last month, one leading $LUNC developer had proposed adjustments to the network’s burn tax distribution. His proposal allocated 10% of the tax to the Oracle Pool. In the Terra Luna Classic ecosystem, the Oracle module furnishes the network with up-to-date price feeds of #exchange rates in the real world and is the foundation of the network’s DeFi.
As one of the key developers revealed Wednesday, the Oracle split logic has finished and the testnet is ongoing.
The Oracle split is contained in proposals 12098 and 12114, which are part of Release v3.1.0. It will divert community pool rewards to the Oracle Pool, slowing down its depletion rate (the rewards originate from the tax split.
Under the existing mechanisms, Terra Luna Classic has a 0.5% burn rate—80% of it goes to burns, and the remainder is distributed to rewards and the Community Pool. It is this 20% that the new proposal targets, recommending that it be split between the Community Pool and the #Oracle Pool.
The proposal isn’t popular in some quarters. A key grievance is its obvious implication on block rewards for #LUNC✅ validators—under the new mechanism, block rewards would come exclusively from gas fees. The annual percentage rate is also expected to dip by 0.5%. Some experts have even warned that passing the proposal could lead to immediate price declines.
However, the proponents point out that this shift would benefit the ecosystem in the long run, primarily by boosting staking.
LUNC staking has grown massively in recent months. As Crypto News Flash reported two weeks ago, the staked LUNC hit 1 trillion amid aggressive growth since the start of June. This growth continues, with the community staking just under 250 million LUNC in the past 24 hours and over nine billion tokens in the past week. Overall, staked LUNC accounts for 15.09% of the total tokens, sitting just marginally below the all-time record achieved last October.
On the trading front, LUNC has dipped slightly over the past day to trade at $0.00007117 amid a 21% drop in the trading volume.
As one analyst points out, the token has been trading inside a falling channel and changes hands below its 50-day and 200-day simple moving averages (SMAs). If it finds strong support, the analyst expects LUNC to surge 67% and hit $0.00017. However, if it fails to hold up, the next support will be further down at $0.00005646.
🔎 Expert Tracks Stolen #DMMBitcoin Assets
Since the beginning of July, over $35 million, stolen in the May hack of the cryptocurrency exchange DMM Bitcoin, has been laundered through the Cambodian online marketplace Huione Guarantee. This was highlighted by on-chain researcher ZachXBT.
How the hackers operated:
▪️They routed the stolen bitcoins through mixers.
▪️Exchanged them for Ethereum and Avalanche via the cross-chain liquidity protocol THORChain.
▪️Converted the assets to #USDT。 , then to Tron.
▪️Finally, the assets ended up on Huione Guarantee.
🚫 One transaction amounting to $29.6 million was blocked on July 12 when the stablecoin issuer Tether blacklisted one of the hacker's Tron wallets.
💡 #zachxbt suspects that the Lazarus Group is behind this incident due to the similarity in money laundering methods and off-chain indicators.
🔗 He also shared 538 wallets involved in the #exchange hack.
#CPI_BTC_Watch
Since the beginning of July, over $35 million, stolen in the May hack of the cryptocurrency exchange DMM Bitcoin, has been laundered through the Cambodian online marketplace Huione Guarantee. This was highlighted by on-chain researcher ZachXBT.
How the hackers operated:
▪️They routed the stolen bitcoins through mixers.
▪️Exchanged them for Ethereum and Avalanche via the cross-chain liquidity protocol THORChain.
▪️Converted the assets to #USDT。 , then to Tron.
▪️Finally, the assets ended up on Huione Guarantee.
🚫 One transaction amounting to $29.6 million was blocked on July 12 when the stablecoin issuer Tether blacklisted one of the hacker's Tron wallets.
💡 #zachxbt suspects that the Lazarus Group is behind this incident due to the similarity in money laundering methods and off-chain indicators.
🔗 He also shared 538 wallets involved in the #exchange hack.
#CPI_BTC_Watch
Indonesia Considering Mid 2023 For State-Backed Crypto Exchange.
#exchange #indonesia #crypto2023 #cryptotrading
#exchange #indonesia #crypto2023 #cryptotrading
