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"In the digital age of cryptocurrency, the proverb 'Talk less, work more' resonates profoundly. By prioritizing action over chatter, engaging in productive endeavors like trading on platforms like Binance can significantly enhance financial prospects. Efficiency in work and strategic silence pave the path to prosperity in the digital economy."#ICP #GALA #LUNA #BOME #WIF $BTC $ETH $BNB
Sony going to Ventures a new Bitcoin with New Exchange Launch
Sony Group has acquired Amber Japan and is rebranding it as the S.BLOX Bitcoin and crypto exchange, marking its entry into the Bitcoin market.
In 2023, Sony purchased Amber Japan, formerly known as DeCurret, via its subsidiary Quetta Web. This acquisition aims to strengthen Sony's presence in the crypto space.
The S.BLOX exchange will feature an upgraded user interface and mobile app. While the launch date is yet to be announced, the move signals Sony's commitment to Bitcoin and crypto.
Japan's favorable regulations and high consumer awareness make it a strategic market for Sony's crypto expansion.
Sony's entry into the crypto market is part of a broader trend of major companies embracing Bitcoin, potentially driving mainstream adoption.
$BTC $ETH $SOL
#binancenews #launch #newcoin2024
In 2023, Sony purchased Amber Japan, formerly known as DeCurret, via its subsidiary Quetta Web. This acquisition aims to strengthen Sony's presence in the crypto space.
The S.BLOX exchange will feature an upgraded user interface and mobile app. While the launch date is yet to be announced, the move signals Sony's commitment to Bitcoin and crypto.
Japan's favorable regulations and high consumer awareness make it a strategic market for Sony's crypto expansion.
Sony's entry into the crypto market is part of a broader trend of major companies embracing Bitcoin, potentially driving mainstream adoption.
$BTC $ETH $SOL
#binancenews #launch #newcoin2024
Elon Musk Announces Grok 2 and Grok 3 Launch Dates
After launching Grok AI 1.5, Elon Musk revealed that Grok 2 by xAI will debut in August, followed by Grok 3 by year-end. Grok 2 boasts advanced AI features, improved context understanding, and enhanced benchmark performance. Grok 3, trained on 100k Nvidia H100 GPUs, aims to exceed current AI standards.
Inspired by "The Hitchhiker’s Guide to the Galaxy" and "Iron Man's JARVIS," Grok 2 will answer questions with real-time knowledge and integrate image generation and web search. Dell Technologies is partnering with Nvidia to support xAI's generative AI capabilities for Grok.
$BTC $ETH $SOL
#binance #BinanceNews #worldoftrading
Inspired by "The Hitchhiker’s Guide to the Galaxy" and "Iron Man's JARVIS," Grok 2 will answer questions with real-time knowledge and integrate image generation and web search. Dell Technologies is partnering with Nvidia to support xAI's generative AI capabilities for Grok.
$BTC $ETH $SOL
#binance #BinanceNews #worldoftrading
Binance Flags 11 Tokens as High-Risk
Binance has issued a warning that has sparked discussions in the crypto market by adding a Monitoring Tag to 11 tokens, signaling potential future delisting. Affected tokens include Balancer (BAL), Cortex (CTXC), and Convex Finance (CVX). Meanwhile, Enzyme (MLN) and Horizon (ZEN) are removed from the risk list.
Tokens tagged as high-risk will be closely monitored for volatility and compliance with Binance’s standards, including development activity, trading volume, and network stability. This move highlights the potential for increased price volatility among the flagged tokens.
$BTC $ETH $SOL
#BinanceNews #Binance #warning!
Tokens tagged as high-risk will be closely monitored for volatility and compliance with Binance’s standards, including development activity, trading volume, and network stability. This move highlights the potential for increased price volatility among the flagged tokens.
$BTC $ETH $SOL
#BinanceNews #Binance #warning!
Spot Ethereum ETF Approval Nears as SEC Sets Refiling Date
Key Date Approaches for Ethereum ETFs
The SEC has asked issuers to refile S-1 amendments for spot Ethereum ETFs by July 8, as noted by Nate Geraci, President of ETFStore. This follows light comments from the SEC on initial filings.
Analysts' Predictions and Adjustments
Initially, analysts expected the rule change by July 4, but the new refiling date pushes potential approval. Bloomberg's Eric Balchunas and James Seyffart had speculated a launch next week, but that seems unlikely now.
Awaiting Approval
Issuers like VanEck, BlackRock, Fidelity, and others approved in May, will have to wait at least two more weeks. SEC Chairman Gary Gensler hinted at a summer approval timeline, which aligns with current proceedings.
Final Preparations
VanEck and 21Shares have filed Form 8-A, necessary for trading on an exchange. Franklin Templeton set its sponsor fee at 0.19%, while VanEck offers a zero-fee product. The approval process is reported to be progressing smoothly.
$ETH $BTC $BNB
#ETHETFsApproved #etherreum #binancenew
The SEC has asked issuers to refile S-1 amendments for spot Ethereum ETFs by July 8, as noted by Nate Geraci, President of ETFStore. This follows light comments from the SEC on initial filings.
Analysts' Predictions and Adjustments
Initially, analysts expected the rule change by July 4, but the new refiling date pushes potential approval. Bloomberg's Eric Balchunas and James Seyffart had speculated a launch next week, but that seems unlikely now.
Awaiting Approval
Issuers like VanEck, BlackRock, Fidelity, and others approved in May, will have to wait at least two more weeks. SEC Chairman Gary Gensler hinted at a summer approval timeline, which aligns with current proceedings.
Final Preparations
VanEck and 21Shares have filed Form 8-A, necessary for trading on an exchange. Franklin Templeton set its sponsor fee at 0.19%, while VanEck offers a zero-fee product. The approval process is reported to be progressing smoothly.
$ETH $BTC $BNB
#ETHETFsApproved #etherreum #binancenew
A Dream Come True: The Sudden Rise of BTTC to BTC
In the bustling and ever-volatile world of cryptocurrency, a decision by trading companies and key stakeholders can often lead to unexpected and dramatic changes. Such was the case when a unanimous decision was made to temporarily transform BTTC (BitTorrent Token) into BTC (Bitcoin) for 15 days. This unprecedented move sent shockwaves through the crypto community, turning many dreams into reality overnight.
#### The Announcement
The decision was made public on a bright Monday morning, as cryptocurrency trading companies and stakeholders announced that BTTC would become BTC for a two-week period. The news spread like wildfire across social media platforms, trading forums, and news outlets. For many, it sounded too good to be true—a fleeting moment of magic in the otherwise cutthroat world of digital currencies.
#### The Immediate Impact
As the clock struck midnight, signaling the start of this transformative period, BTTC holders logged into their accounts with bated breath. To their astonishment, they saw their modest holdings of BTTC, often valued at fractions of a cent, transformed into BTC—the digital gold of the crypto world. The transformation was immediate and real, with wallets that once held a modest value now brimming with wealth.
#### Stories of Transformation
Across the globe, individuals who had once struggled to make ends meet found themselves suddenly wealthy.
1. **Maria's Miracle**: Maria,
a single mother from Brazil, had invested a small portion of her savings into BTTC, hoping for a future rise in value. Overnight, her investment grew exponentially, allowing her to pay off debts, secure a better home for her children, and even start a small business.
2. **The Student's Surprise**:
In India, Ravi, a college student, had been dabbling in cryptocurrencies with his limited pocket money. He had accumulated a decent amount of BTTC but never expected much from it. The sudden transformation to BTC enabled him to pay for his education and support his family.
3. **A Farmer’s Fortune**:
In Nigeria, Adebayo, a farmer who had embraced digital currencies as a means of savings, woke up to find his modest holdings had turned him into a wealthy man. He invested in new farming equipment and expanded his agricultural business, creating jobs for his community.
#### The Broader Impact
The decision to transform BTTC into BTC had far-reaching implications beyond individual wealth. The influx of newfound wealth led to increased spending in local economies, the funding of small businesses, and a surge in charitable contributions. Communities witnessed a rejuvenation as people who had once been constrained by financial limitations now had the means to contribute positively to society.
#### Market Reactions
The crypto markets reacted with a mixture of awe and frenzy. Bitcoin's price saw a temporary surge as demand skyrocketed, while BTTC's value experienced unprecedented liquidity. Analysts debated the long-term implications of such a move, but for those two weeks, the focus was on the stories of transformation and the joy it brought to countless lives.
#### A Temporary Dream
As the 15-day period came to an end, the transformation reversed, and BTTC reverted to its original value. However, the impact of those two weeks lingered. The dreams that had come true for many continued to inspire the global crypto community. It served as a powerful reminder of the potential within the world of digital currencies to effect real change, even if just for a brief moment.
### Conclusion
The temporary transformation of BTTC to BTC was more than a financial anomaly; it was a testament to the power of collective decision-making within the cryptocurrency ecosystem. It highlighted how, even in a realm often characterized by speculation and volatility, moments of magic can occur, turning dreams into reality and changing lives forever.
$BTTC $BTC
#MicroStrategy #Binance #CryptoNewss
#### The Announcement
The decision was made public on a bright Monday morning, as cryptocurrency trading companies and stakeholders announced that BTTC would become BTC for a two-week period. The news spread like wildfire across social media platforms, trading forums, and news outlets. For many, it sounded too good to be true—a fleeting moment of magic in the otherwise cutthroat world of digital currencies.
#### The Immediate Impact
As the clock struck midnight, signaling the start of this transformative period, BTTC holders logged into their accounts with bated breath. To their astonishment, they saw their modest holdings of BTTC, often valued at fractions of a cent, transformed into BTC—the digital gold of the crypto world. The transformation was immediate and real, with wallets that once held a modest value now brimming with wealth.
#### Stories of Transformation
Across the globe, individuals who had once struggled to make ends meet found themselves suddenly wealthy.
1. **Maria's Miracle**: Maria,
a single mother from Brazil, had invested a small portion of her savings into BTTC, hoping for a future rise in value. Overnight, her investment grew exponentially, allowing her to pay off debts, secure a better home for her children, and even start a small business.
2. **The Student's Surprise**:
In India, Ravi, a college student, had been dabbling in cryptocurrencies with his limited pocket money. He had accumulated a decent amount of BTTC but never expected much from it. The sudden transformation to BTC enabled him to pay for his education and support his family.
3. **A Farmer’s Fortune**:
In Nigeria, Adebayo, a farmer who had embraced digital currencies as a means of savings, woke up to find his modest holdings had turned him into a wealthy man. He invested in new farming equipment and expanded his agricultural business, creating jobs for his community.
#### The Broader Impact
The decision to transform BTTC into BTC had far-reaching implications beyond individual wealth. The influx of newfound wealth led to increased spending in local economies, the funding of small businesses, and a surge in charitable contributions. Communities witnessed a rejuvenation as people who had once been constrained by financial limitations now had the means to contribute positively to society.
#### Market Reactions
The crypto markets reacted with a mixture of awe and frenzy. Bitcoin's price saw a temporary surge as demand skyrocketed, while BTTC's value experienced unprecedented liquidity. Analysts debated the long-term implications of such a move, but for those two weeks, the focus was on the stories of transformation and the joy it brought to countless lives.
#### A Temporary Dream
As the 15-day period came to an end, the transformation reversed, and BTTC reverted to its original value. However, the impact of those two weeks lingered. The dreams that had come true for many continued to inspire the global crypto community. It served as a powerful reminder of the potential within the world of digital currencies to effect real change, even if just for a brief moment.
### Conclusion
The temporary transformation of BTTC to BTC was more than a financial anomaly; it was a testament to the power of collective decision-making within the cryptocurrency ecosystem. It highlighted how, even in a realm often characterized by speculation and volatility, moments of magic can occur, turning dreams into reality and changing lives forever.
$BTTC $BTC
#MicroStrategy #Binance #CryptoNewss
Ethereum Is The Most Bullish Altcoin? 🤫
Crypto Analyst Yoddha Bullish on Ethereum; Highlights Chainlink and Angry Pepe Fork
Yoddha, a crypto analyst with over 50k followers on X, believes Ethereum is the most bullish altcoin, surpassing Bitcoin. Chainlink and Angry Pepe Fork (APORK) are also gaining investor attention. APORK, a Solana-based meme coin, offers a "conquer-to-earn" system where users can earn tokens by defeating zombie meme coins. With staking opportunities and a limited token supply, APORK is projected to see significant growth.
Ethereum and Chainlink Projections
Ethereum's price surged by nearly 20% last month, resembling the 2021 bull run, and could retest the $4000 mark. Despite a recent 8% dip, its market cap exceeds $410 billion. Chainlink, with a 12% monthly increase, might reach $20 in Q3, although its market cap hasn't recovered the $9 billion mark.
Angry Pepe Fork Presale
APORK is in its first presale stage at $0.014 per token, with analysts predicting a 250% rise by the presale's end and 350% by exchange listing. The project aims to attract partners and expand utilities to enhance its appeal.
Disclaimer
Readers should conduct their own research before making any investment decisions.
#CryptoTradingGuide #etherreum #ETH🔥🔥🔥🔥 #Binance #Crypto
Yoddha, a crypto analyst with over 50k followers on X, believes Ethereum is the most bullish altcoin, surpassing Bitcoin. Chainlink and Angry Pepe Fork (APORK) are also gaining investor attention. APORK, a Solana-based meme coin, offers a "conquer-to-earn" system where users can earn tokens by defeating zombie meme coins. With staking opportunities and a limited token supply, APORK is projected to see significant growth.
Ethereum and Chainlink Projections
Ethereum's price surged by nearly 20% last month, resembling the 2021 bull run, and could retest the $4000 mark. Despite a recent 8% dip, its market cap exceeds $410 billion. Chainlink, with a 12% monthly increase, might reach $20 in Q3, although its market cap hasn't recovered the $9 billion mark.
Angry Pepe Fork Presale
APORK is in its first presale stage at $0.014 per token, with analysts predicting a 250% rise by the presale's end and 350% by exchange listing. The project aims to attract partners and expand utilities to enhance its appeal.
Disclaimer
Readers should conduct their own research before making any investment decisions.
#CryptoTradingGuide #etherreum #ETH🔥🔥🔥🔥 #Binance #Crypto
German government sells off $325 million BTC.
Bitcoin dropped 3.5% to $64,700 due to German government selling off seized assets. The sell-off continues, with Bitcoin down 9% in two weeks.
German authorities seized $3 billion in Bitcoin from Movie2k.to in 2020. They've sold $325 million so far, likely selling more soon.
Bitcoin hit a high of $73,797 in March but dropped to $56,527 in May amid wider market declines.
German sell-off isn't the sole reason for Bitcoin's recent drop; general market negativity also plays a role.
Bitcoin's price dips often influence other crypto assets, a recurring trend in the market.
German authorities, acting as crypto whales, impact crypto prices due to their significant holdings and trading activities.#BTCFOMCWatch #BTC #Binance
German authorities seized $3 billion in Bitcoin from Movie2k.to in 2020. They've sold $325 million so far, likely selling more soon.
Bitcoin hit a high of $73,797 in March but dropped to $56,527 in May amid wider market declines.
German sell-off isn't the sole reason for Bitcoin's recent drop; general market negativity also plays a role.
Bitcoin's price dips often influence other crypto assets, a recurring trend in the market.
German authorities, acting as crypto whales, impact crypto prices due to their significant holdings and trading activities.#BTCFOMCWatch #BTC #Binance
Binance Margin Trading.
Binance margin trading allows users to borrow funds to trade assets, thereby increasing their buying power beyond what they have in their account. It enables traders to potentially amplify their profits (or losses) by leveraging borrowed funds, with interest charges applicable on borrowed amounts. Margin trading on Binance involves managing risks carefully due to the increased potential for gains and losses.#Binance
u r great thanx 4 giving me free crypto
LIVETIGRE_48
--
Em Alta
• 🚨_Mantén tu frase semilla segura:🔐
• 🐯_Tu frase semilla o frase secreta , es la clave maestra de tu billetera.
• 🔐_Guárdala en un lugar sin conexión a internet.
•✍️ _Evita almacenarla en línea o en la nube.
•📝 _ Opta por escrir la frase en papel y guardar en un lugar seguro 🔐 , también puede ser una placa de metal , o la forma física sin internet que creas conveniente para tu caso . 🤝🐯🧡
#AntiScamEducation
#BinanceRiskteam
• 🗞️_También te recomiendo seguir a @Binance Risk Sniper para ver casos y noticias 📻 sobre prevención de estafas.
🤝🐯🧡
• 🐯_Tu frase semilla o frase secreta , es la clave maestra de tu billetera.
• 🔐_Guárdala en un lugar sin conexión a internet.
•✍️ _Evita almacenarla en línea o en la nube.
•📝 _ Opta por escrir la frase en papel y guardar en un lugar seguro 🔐 , también puede ser una placa de metal , o la forma física sin internet que creas conveniente para tu caso . 🤝🐯🧡
#AntiScamEducation
#BinanceRiskteam
• 🗞️_También te recomiendo seguir a @Binance Risk Sniper para ver casos y noticias 📻 sobre prevención de estafas.
🤝🐯🧡
#
LIVE
Binance Announcement
--
Binance Square #Write2Earn: Enjoy Up to 5% Trading Fee Commissions With Your Binance Square Posts!
This is a general announcement. Products and services referred to here may not be available in your region.
Binance Square is pleased to launch the #Write2Earn promotion for all Binance Square creators. Eligible Binance Square creators who post qualified content on Binance Square during the Promotion Period, may each earn up to 5% trading fee commissions from their readers’ spot, margin and/or futures trade(s) on a first-come, first-served basis.
Promotion Period: 2024-01-22 00:00 (UTC) to 2024-02-25 23:59 (UTC)
How to Participate
Login to your Binance account, and go to Binance Square.Publish qualified content pieces (i.e., short posts, long articles or polls) that include the #Write2Earn hashtag and at least 200 characters. Get up to 5% in trading fee commissions from regular and VIP 1-2 users’ spot, margin and futures trade(s) (excluding copy trading) when they engage with your qualified content pieces (e.g., via likes, shares, quotes, comments), and complete the trade(s) within 180 minutes after the engagement.
Rewards Structure
Commissions rewards will be distributed in the form of USDT token vouchers to eligible Binance Square creators on a first-come, first-served basis. A total of 10,000 USDT in token vouchers is available in this promotion.If a regular or VIP 1-2 user engage with one or more qualified content piece(s) on Binance Square within 180 minutes before trading on Spot, Margin and/or Futures (excluding copy trading) during the Promotion Period, the eligible Binance Square creator(s) of these content piece(s) will qualify to equally share 5% in trading fee commissions from the above trade(s).
Post on Binance Square Now to Earn 5% Commission!
Notes
Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards.For each day of the Promotion Period, the maximum commission that an eligible Binance Square creator may receive is a 50 USDT token voucher. Commission rewards will only be distributed when the value of the reward is at least 0.1 USDT. Binance Square creators will not be eligible to earn any trading fee commissions from their own spot, margin, or futures trades.The commission rewards in this promotion is on top of commission-based rewards from the Standard Referral Mode.
About Binance Square
Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
For More Information
What Is Binance Square and Frequently Asked Questions
Terms & Conditions
This promotion may not be available in your region. Only Binance Square Creators who complete account verification are eligible to participate in this promotion. Media, project, or business/organization accounts are not eligible to join this promotion.Only short posts, long articles or polls that include the #Write2Earn hashtag and at least 200 characters will count as qualified content pieces. Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards from this promotion.Rewards Calculation and DistributionBinance will use the real-time exchange rates to calculate the commission rewards from every spot, margin and/or futures trade (excluding copy trading). Commission rewards will only be distributed to qualified Binance Square creators when the value of the overall commission rewards accumulated during the Promotion Period is at least 0.1 USDT. For eligible Binance Square creators who accumulate at least 0.1 USDT of commission rewards in each week of the Promotion Period, Binance Square will publish their weekly performances via its official account by the following Wednesday at 23:59 (UTC). Each week runs from Monday, 00:00 (UTC) to Sunday, 23:59 (UTC). Each day runs from 00:00 (UTC) to 23:59 (UTC). The USDT token voucher rewards will be distributed within 15 working days after the promotion ends. Upon successful distribution of rewards, winners will be notified via a separate push notification under Creator Center > Square Assistant. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this promotion if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this promotion.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-01-22
Binance Square is pleased to launch the #Write2Earn promotion for all Binance Square creators. Eligible Binance Square creators who post qualified content on Binance Square during the Promotion Period, may each earn up to 5% trading fee commissions from their readers’ spot, margin and/or futures trade(s) on a first-come, first-served basis.
Promotion Period: 2024-01-22 00:00 (UTC) to 2024-02-25 23:59 (UTC)
How to Participate
Login to your Binance account, and go to Binance Square.Publish qualified content pieces (i.e., short posts, long articles or polls) that include the #Write2Earn hashtag and at least 200 characters. Get up to 5% in trading fee commissions from regular and VIP 1-2 users’ spot, margin and futures trade(s) (excluding copy trading) when they engage with your qualified content pieces (e.g., via likes, shares, quotes, comments), and complete the trade(s) within 180 minutes after the engagement.
Rewards Structure
Commissions rewards will be distributed in the form of USDT token vouchers to eligible Binance Square creators on a first-come, first-served basis. A total of 10,000 USDT in token vouchers is available in this promotion.If a regular or VIP 1-2 user engage with one or more qualified content piece(s) on Binance Square within 180 minutes before trading on Spot, Margin and/or Futures (excluding copy trading) during the Promotion Period, the eligible Binance Square creator(s) of these content piece(s) will qualify to equally share 5% in trading fee commissions from the above trade(s).
Post on Binance Square Now to Earn 5% Commission!
Notes
Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards.For each day of the Promotion Period, the maximum commission that an eligible Binance Square creator may receive is a 50 USDT token voucher. Commission rewards will only be distributed when the value of the reward is at least 0.1 USDT. Binance Square creators will not be eligible to earn any trading fee commissions from their own spot, margin, or futures trades.The commission rewards in this promotion is on top of commission-based rewards from the Standard Referral Mode.
About Binance Square
Binance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3. With a vast selection of content from renowned crypto experts, avid enthusiasts and trusted media sources, the platform serves as a bridge between content creators and their followers, customizing users’ feeds based on their respective engagement history.
For More Information
What Is Binance Square and Frequently Asked Questions
Terms & Conditions
This promotion may not be available in your region. Only Binance Square Creators who complete account verification are eligible to participate in this promotion. Media, project, or business/organization accounts are not eligible to join this promotion.Only short posts, long articles or polls that include the #Write2Earn hashtag and at least 200 characters will count as qualified content pieces. Content pieces that contain descriptions encouraging or urging users to like, share, quote, comment, etc., will not qualify the creators for any commission rewards from this promotion.Rewards Calculation and DistributionBinance will use the real-time exchange rates to calculate the commission rewards from every spot, margin and/or futures trade (excluding copy trading). Commission rewards will only be distributed to qualified Binance Square creators when the value of the overall commission rewards accumulated during the Promotion Period is at least 0.1 USDT. For eligible Binance Square creators who accumulate at least 0.1 USDT of commission rewards in each week of the Promotion Period, Binance Square will publish their weekly performances via its official account by the following Wednesday at 23:59 (UTC). Each week runs from Monday, 00:00 (UTC) to Sunday, 23:59 (UTC). Each day runs from 00:00 (UTC) to 23:59 (UTC). The USDT token voucher rewards will be distributed within 15 working days after the promotion ends. Upon successful distribution of rewards, winners will be notified via a separate push notification under Creator Center > Square Assistant. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution. Learn how to redeem a voucher.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this promotion if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this promotion.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-01-22
"Alex Protocol Bridge on BNB Smart Chain Suffers $4.3 Million Exploit Following Sudden Contract UPGR
According to a report from blockchain security platform CertiK on May 14, the Alex protocol bridge on the BNB Smart Chain network experienced $4.3 million in suspicious withdrawals following a sudden contract upgrade.
Alex is a layer-2 protocol for Bitcoin, offering decentralized finance applications on the Bitcoin network. Its bridges facilitate asset transfers from networks like BNB Smart Chain and Ethereum to its own network.
Blockchain data reveals that the Alex deployer account executed five identical upgrades to the “Bridge Endpoint” contract on BNB Smart Chain starting at 3:56 pm UTC. This resulted in the removal of approximately $4.3 million worth of Binance-Pegged Bitcoin (BTC), USD Coin (USDC), and Sugar Kingdom Odyssey (SKO) from the BNB Smart Chain side of the bridge.
CertiK suggested that the event might indicate a "possible private key compromise" since the upgrade was conducted by the protocol’s deployer account. The upgrade transaction altered the implementation address to one ending in 7058, which contained unverified bytecode, making it unreadable.
About 48 minutes after these upgrades began, the proxy address for the bridge contract invoked an unverified function on an address ending in 4848E. Consequently, 16 BTC ($983,000 at current prices), 2.7 million SKO ($75,000), and $3.3 million worth of USDC were transferred to the address ending in 484E.
There are indications that the attacker might be targeting funds on other networks. At 5:41 pm, shortly after the suspicious upgrade on BNB Smart Chain, similar upgrades were carried out on Ethereum. In this instance, the deployer upgraded the “artist address” to an unverified contract. Following this, an account ending in 05ed attempted two withdrawals from the “team address,” both of which failed with a “not owner” error.
The 05ed account had no prior activity before May 10, creating one unverified contract on that date and two more on May 14, suggesting it may be controlled by a malicious user.
As of the report's publication, the Alex team has not confirmed the exploit or issued any statements regarding the incident.
The Alex bridge is not the only protocol to face potential exploitation in May. On May 13, decentralized exchange Equalizer reported the loss of over 2,000 tokens due to an attacker siphoning them off in small increments over several days. Additionally, the Gnus.ai hack on May 6 resulted in losses amounting to $1.27 million.
Alex is a layer-2 protocol for Bitcoin, offering decentralized finance applications on the Bitcoin network. Its bridges facilitate asset transfers from networks like BNB Smart Chain and Ethereum to its own network.
Blockchain data reveals that the Alex deployer account executed five identical upgrades to the “Bridge Endpoint” contract on BNB Smart Chain starting at 3:56 pm UTC. This resulted in the removal of approximately $4.3 million worth of Binance-Pegged Bitcoin (BTC), USD Coin (USDC), and Sugar Kingdom Odyssey (SKO) from the BNB Smart Chain side of the bridge.
CertiK suggested that the event might indicate a "possible private key compromise" since the upgrade was conducted by the protocol’s deployer account. The upgrade transaction altered the implementation address to one ending in 7058, which contained unverified bytecode, making it unreadable.
About 48 minutes after these upgrades began, the proxy address for the bridge contract invoked an unverified function on an address ending in 4848E. Consequently, 16 BTC ($983,000 at current prices), 2.7 million SKO ($75,000), and $3.3 million worth of USDC were transferred to the address ending in 484E.
There are indications that the attacker might be targeting funds on other networks. At 5:41 pm, shortly after the suspicious upgrade on BNB Smart Chain, similar upgrades were carried out on Ethereum. In this instance, the deployer upgraded the “artist address” to an unverified contract. Following this, an account ending in 05ed attempted two withdrawals from the “team address,” both of which failed with a “not owner” error.
The 05ed account had no prior activity before May 10, creating one unverified contract on that date and two more on May 14, suggesting it may be controlled by a malicious user.
As of the report's publication, the Alex team has not confirmed the exploit or issued any statements regarding the incident.
The Alex bridge is not the only protocol to face potential exploitation in May. On May 13, decentralized exchange Equalizer reported the loss of over 2,000 tokens due to an attacker siphoning them off in small increments over several days. Additionally, the Gnus.ai hack on May 6 resulted in losses amounting to $1.27 million.
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