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Over 1.2 Billion aUSD Minted in an Exploit of Polkadot’s DeFi Hub Acala

Polkadot’s decentralized finance (DeFi) hub Acala suffered a major attack on its newly launched liquidity pool on Sunday. The exploit allowed the hacker to mint more than 1.2 billion aUSD, the project’s stablecoin.  Shortly after the hack, the Acala team updated users on Twitter, noting that the exploit originated from a “misconfiguration of the iBTC/aUSD […]

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Over 75% of Financial Institutions Intend to Use Crypto in the Next Three Years (Study)

Ripple’s latest Value Report estimated that 76% of financial institutions plan to use cryptocurrencies in their operations in the next 36 months. The majority of those entities, though, said they will delve into the industry, assuming there is an appropriate regulatory framework applied to it. The study also revealed that 20% of global consumers would […]

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Hackers Have Drained $1.4 Billion Worth of Crypto Since the Beginning of 2022 (Research)

According to a study conducted by Chainalysis, wrongdoers have stolen approximately $1.4 billion worth of digital assets between January 2022 and now. Targeting cryptocurrency bridges seems to have been a preferred method. Some examples of such attacks in 2022 include the exploit of the Horizon bridge, the $190 million breach on Nomad Bridge, and one […]

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Spain and France’s Inflation Rate Highest in Four Decades

The inflation rate may have slowed in the US, but elsewhere, it’s a different story. In fact, both France’s and Spain’s inflation rate has increased to a level not seen in almost four decades. Official figures are concerning. Crypto adoption in both countries has been on the rise. But will the upcoming financial strains have […]

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FTX and Paradigm Join Forces to Unveil Crypto Futures Spread Trading

Crypto exchange FTX has partnered with digital asset investment firm, Paradigm. The aim of the collaboration is to launch spread trading, which will essentially enable users to benefit from pricing dislocations with “cash-and-carry” plays. Spread Trading can be referred to as the purchase of one security and sale of a related security, called legs, as […]

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Norwegian BTC Miner Moves Beyond the Arctic Circle to Cut Energy Costs (Report)

The Norwegian bitcoin mining company – Kryptovault AS – reportedly plans to move its operations north of the Arctic Circle. The relocation is prompted by the rising electricity costs in the country, while the northern regions are still relatively unaffected by the crisis. Over the past few years, Norway has turned into a cryptocurrency mining […]

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This is the Most Crypto-Curious Country in the World: Study

The cryptocurrency price tracker CoinGecko estimated that this year’s decline in the digital asset market had changed the trends in the industry. According to the company’s research, Nigeria has emerged as the most crypto-curious nation across the globe. Other recent reports revealed that Nigerians’ interest in digital currencies is prompted by their limited access to […]

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A Doctor Paid $60K Worth of BTC to Hitmen to Kidnap His Wife

Ronald Craig Ilg – a 55-year-old former neonatologist from Spokane, Washington – admitted to transferring $60,000 worth of bitcoin to multiple hitmen on the Dark Web whose task was to cause severe injuries to an ex-colleague of his. Apart from that, he ordered the criminals to kidnap his estranged wife and inject her with heroin […]

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Tornado Cash Developer is Arrested in Amsterdam

On August 10, the Dutch Crime Agency (FIOD) announced the arrest of a 29-year-old developer of Tornado Cash, a cryptocurrency mixer built on the Ethereum network that was sanctioned earlier this month by the U.S. Treasury Department. The U.S. banned Tornado Cash because the platform had a large-scale currency laundering lending potential and helped anonymize […]

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Binance’s User Count Growing Due to Inflation, Says the Company’s Latin America Head

Maximiliano Hinz – top executive of Binance Latin America – argued that the spiking inflation is the main reason why the largest cryptocurrency exchange has amassed more clients in recent months. Another factor is the historically strong dollar, which has weakened other fiat currencies from emerging markets. Over the past few years, numerous experts and […]