1) Balancer, a DeFi platform, experiences a significant loss of nearly $900k due to a recent hack.

2) This hack transpired shortly after the company publicly disclosed certain vulnerabilities within its system.

3) While some of the funds were successfully rescued using emergency procedures, a substantial amount remains at risk.

4) In the latest blow to the decentralized finance (DeFi) space, Balancer, an Ethereum-based DeFi protocol, fell victim to an exploit resulting in nearly $900,000 in losses.

5) Just days prior, Balancer had issued a warning about potential vulnerabilities affecting its boosted pools, and unfortunately, this event has now materialized.

An announcement confirming the incident involving the protocol was posted on the social media platform X (formerly known as Twitter) on August 27.

The protocol's team promptly responded to the crisis by acknowledging the hack. Despite their concerted efforts to contain the damage, they acknowledged that it was irreversible.

Regarding Balancer, the team admitted the exploit, stating, "Balancer is aware of an exploit related to the vulnerability below." They also noted that while mitigation measures implemented in the preceding days had significantly reduced risks, it was impossible to pause affected pools.

"To prevent further exploits, users must withdraw from affected LPs."

On a positive note, a blockchain security expert named Meier Dolev claimed to have identified an Ethereum address associated with the attacker. Subsequent to the exploit, this address received two transfers of Dai stablecoin, amounting to $636,812 and $257,527, respectively. This brought their total balance to over $893,978.

Catch the whole article here:  https://voiceofcrypto.online/news/balancer-loses-nearly-900k/

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Bold Prediction Alert: Hedge Fund Anticipates Bitcoin Halving Could Propel BTC Price to Staggering $150,000 Height! 📈🚀

1) Pantera Capital predicts Bitcoin to hit $150,000 post next halving in mid-2024.

2) Bitcoin's price strongly affected by its halving cycles; Pantera expects history to repeat.

3) Typical pattern: BTC bottoms 477 days pre-halving, rises post-halving, then skyrockets.

4) FTX collapse and Bitcoin's fall could have shifted 477-day timeline by about a month.

5) BTC currently around 8% lower than Pantera's $35,000 re-halving estimate.

Once dismissed as virtually worthless and even labeled a fraudulent scheme, Bitcoin's astonishing journey has catapulted it into the echelons of substantial financial assets, boasting a colossal market cap of $512 billion. Surpassing traditional benchmarks and established financial instruments in terms of market dominance, Bitcoin's meteoric rise since its inception in 2009 has also catalyzed the emergence of numerous crypto-linked financial products.

However, the saga of Bitcoin might just be in its early chapters.

In a recent revelation from Pantera Capital, a hedge fund managing assets worth $4.8 billion, the trajectory of BTC appears far from its conclusion. The prognosis suggests that Bitcoin's ascension is far from over; in fact, it might be on the cusp of a new phase. The hedge fund's analysis posits that the impending halving event could potentially propel Bitcoin's value to $150,000, in turn, catapulting its market cap to a staggering $2.9 trillion. As the crypto landscape continues to evolve, Bitcoin's journey seems destined to chart uncharted territories.

Catch the whole article here:   https://voiceofcrypto.online/news/bitcoin-halving-can-take-prices/

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Finder forecasts Bitcoin to average $88,000 in 2024, with potential for an all-time high post-halving.Experts are divided, some foreseeing a $200,000 peak, while others caution against a speculative bubble.The halving event is anticipated to drive prices higher by reducing supply.Bitcoin ETFs are viewed positively, drawing in new investors and streamlining investment processes.Long-term projections paint an optimistic picture, with the average analyst foreseeing a price of $220,708 by 2030

Experts anticipate Bitcoin to reach an average price of at least $88,000 (around €82,000) throughout 2024, with a potential stabilization near $77,000 by year-end. While peak projections vary, estimates range from $87,875 to a possible high of $200,000. Analysts also acknowledge the possibility of Bitcoin's lows dipping to $35,734, particularly in the wake of the halving event.
The 2024 Halving Event:
The impending BTC halving event, reducing miner rewards, historically triggers supply decreases and subsequent price surges. Experts are poised for significant price impacts, with 47% anticipating a new all-time high within six months post-halving. Furthermore, the introduction of spot Bitcoin ETFs is viewed as a significant catalyst, attracting interest from traditional finance and institutional investors.
Looking Towards 2030:
Despite bullish projections, concerns regarding Bitcoin's volatility persist, with some labeling it a "speculative bubble." Long-term forecasts indicate Bitcoin may reach $122,688 by 2025 and up to a staggering $366,935 by 2030. However, on average, analysts project a more conservative $220,708 by 2030. While the majority of experts (around 58%) suggest buying Bitcoin, 38% recommend holding, with only a small fraction (5%) advocating for selling.

$BTC

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Be Cautious About Your Wallets: 6 Crypto Assets That Might Face Suspension on Coinbase This September. Stay Informed to Safeguard Your Investments!

1) Coinbase to suspend six crypto assets in early September.

2) Affected assets: BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), Voyager (VGX).

3) Suspensions due to recent reviews not meeting Coinbase's listing standards.

4) Suspension to take effect in two weeks, impacting Simple and Advanced Trade, Coinbase Pro, Coinbase Exchange, and Coinbase Prime.

5) Following the announcement, BOND, DDX, JUP, OOKI, VGX, and MULTI experienced price drops of 5.1%, 24%, 16%, 0.5%, 6%, and 0.7% respectively.

6) Multichain's ongoing struggles highlighted as it faces issues like CEO's arrest and loss of $100 million in crypto.

7) Coinbase had previously ceased support for six Ethereum-based altcoins in March.

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Uniswap faces SEC scrutiny following a Wells notice, triggering a sharp 20% decline in UNI token value.SEC's potential action is part of broader crypto market regulation efforts.Uniswap defends its stance, arguing against the classification of most tokens as securities.Despite the market reaction, analysts view this as a strategic buying window, suggesting an entry point near $8.27 or lower.

Alternative Text:
Wells Notices and Regulatory Frameworks
A Wells notice, in simple terms, is akin to a warning letter from the Securities and Exchange Commission (SEC), signaling impending legal action against an organization. Under the current SEC chairman, Gary Gensler, several crypto companies, including Ripple, Binance, and Coinbase, have faced regulatory scrutiny since 2020. Gensler has been vocal about the need for robust regulation in what he refers to as the "Wild West" of the crypto industry. The Wells notice issued to Uniswap is part of a broader enforcement action targeting the entire crypto market.
Uniswap Reacts
Uniswap's founder and CEO, Hayden Adams, expressed frustration on Twitter upon receiving the notice. He emphasized his readiness to defend Uniswap, arguing that the majority of tokens traded on the platform are not securities but stablecoins, utility tokens, or commodities like Bitcoin and Ethereum. Uniswap contends that cryptocurrencies are digital files capable of storing various forms of value, akin to PDFs or spreadsheets. Despite Uniswap's arguments, the price of its token, $UNI , has plummeted by nearly 20% over the last 24 hours.
Is This a Massive Buying Opportunity?
Analyzing Uniswap's price action, it appears to be in a significant decline, trading below key moving averages. While it could be considered a valid buy opportunity, investors may opt to wait for potential support around $8.27, the previous local high from late November. If $8.27 support fails, a lower entry point around $5.55 could be targeted. Despite the apparent opportunity presented by Uniswap's price decline, investors are cautioned to proceed with caution and conduct thorough research due to the volatile nature of cryptocurrencies.

$UNI

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1. SBF received a 25-year prison sentence without parole, a shorter term than the 50 years sought by prosecutors.
2. Despite legal challenges, FTX's holdings surged to $9 billion from November 2022.
3. Courts ordered the forfeiture of $11 billion from SBF as part of the legal proceedings.
4. Solana experienced the most significant rally, while FTT token faced the most significant decline in value.
5. The developments surrounding SBF and FTX highlight the complexities and volatility of the cryptocurrency market.

The sentencing of Sam Bankman-Fried elicited profound reactions, particularly from his parents, who expressed deep devastation at the outcome. Despite the challenging circumstances, they affirmed their unwavering support for their son. US Attorney Damian Williams condemned SBF's actions, characterizing them as orchestrating one of the largest financial frauds in history, reflecting a blatant disregard for customers' funds. This stark condemnation underscores the severity of the situation.
Comparisons have been drawn between SBF's sentencing and that of Ross Ulbricht, the founder of Silk Road, further emphasizing the gravity of the punishment. The parallels highlight the significant implications of SBF's actions within the crypto community and beyond.
The impact of the sentencing extended to FTX and Alameda Research's portfolio, with cryptocurrencies like Solana, FTX Token, SushiSwap, and others experiencing notable effects. Among these, FTT Token saw a substantial crash from $80 to $2, prompting caution in trading this asset due to potential liquidation of reserves.
While Solana and Aptos witnessed gains amidst the turmoil, FTT Token, Serum Finance (SRM), and Maps.me Token (MAPS) suffered losses. The aftermath of SBF's sentencing also raises concerns about potential selloffs to recover funds from Solana holdings, necessitating a cautious approach to trading.
Traders are advised to exercise caution, particularly in Solana and Aptos, as the market navigates the aftermath of SBF's sentencing and potential asset liquidations. This period underscores the importance of vigilance and prudent decision-making in navigating the volatile cryptocurrency landscape.

$SOL

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FBI Takes Aim: 6 BTC Wallets Associated with North Korean Cybercrime Syndicate Targeted in Stringent Crackdown 🔒🚫

1) FBI identifies six BTC wallets tied to North Korean state-backed hacking group Lazarus.

2) These wallets collectively hold 1,580 BTC, valued at approximately $40 million.

3) The US Federal Bureau of Investigation takes action against the North Korean cybercrime group.

4) In an official statement, the FBI reveals its successful tracing of cryptocurrency stolen by the Lazarus group.

5) The Lazarus group is alternatively known as TraderTraitor-affiliated actors and APT38.

The Federal Bureau of Investigation (FBI) has indicated that the Lazarus Group, a notorious hacking collective, may potentially liquidate the cryptocurrency they've acquired. This revelation prompted a cautionary message to crypto-related businesses, urging them to heighten their vigilance regarding six specific Bitcoin wallets. The FBI recommended close scrutiny of blockchain data associated with these addresses to swiftly identify and track any financial movements.

The FBI further committed to an ongoing battle against the Lazarus Group's engagement in cybercrimes and illicit financial activities, all aimed at generating funds for the Democratic People’s Republic of Korea (DPRK). They also extended an invitation to the public, urging them to provide any pertinent information that could aid their efforts.

This development marks just another chapter in the Lazarus Group's history of illicit actions. The group's involvement in multiple cryptocurrency thefts has come to light on previous occasions, with their cumulative stolen funds reportedly nearing an astounding $2 billion since 2018.

Catch the whole article here: https://voiceofcrypto.online/news/fbi-cracks-down-six-btc-wallets/

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