Tuesday , April 13 2021
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George Georgiev



Articles by George Georgiev

ConsenSys-Backed Virtue Poker Closes $5 Million Strategic Investment Round

1 day ago

Virtue Poker, a project backed by the blockchain mogul ConsenSys, has completed a strategic investment round of $5 million.
Strategic Investment Ahead of Mainnet Launch
The news comes ahead of the mainnet launch, which is scheduled to happen in May 2021.
Virtue Poker is the only blockchain-based company that’s received an official license from the Malta Gaming Authority, Virtue Poker has closed a $5 million strategic investment round led by notable investors ConsenSys, DFG Group, Pantera Capital, and Jez San from FunFair.
In a press release shared with CryptoPotato, the project’s CEO, Ryan Gittleson, said:
“After years of consultation, in-person meetings, and effort, Virtue Poker can proudly say we are the only licensed blockchain-based poker application in the market.”

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MicroStrategy Directors Now Receive Board Fees in Bitcoin

1 day ago

MicroStrategy, a publicly-listed company spearheaded by Michael Saylor, who’s arguably one of Bitcoin’s biggest proponents, will now pay the board fees to its non-employee directors in bitcoin.
According to a new filing with the United States Securities and Exchange Commission (SEC), MicroStrategy has modified the compensation arrangements for non-employee directors.
Per the document, they will “receive all fees for their service on the Company’s Board in bitcoin instead of cash.”
Going even further, the filing reads that “in approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary

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Tezos (XTZ) Price up 25% in a Week Following Tenderbake Testnet Release

1 day ago

Tezos saw notable gains over the past seven days as the price of its native cryptocurrency, XTZ, surged by around 25%. 
This comes amid news of the release of the Tenderbake testnet – a new algorithm adapted to handle an arbitrarily large number of validators. 
Tezos Tenderbake – What is it All About?
The update was introduced in a whitepaper called Tenderbake – A Solution to Dynamic Repeated Consensus for Blockchains. 
According to the official Medium release, the algorithm is a product of global collaboration between academic researchers and engineers, and it was also supported by the formal verification of Theorems 5 and 6 in the paper. 
Tenderbake takes advantage of the classical style of BFT consensus algorithm adapted to handle n arbitrarily large number of

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Bitcoin Bull Mike Novogratz Predicts Existential Crisis Unless the US Creates a Digital Dollar

3 days ago

Mike Novogratz, a veteran investor, and a huge Bitcoin supporter noted the U.S. is currently in a good economic position. Still, the nation can face a major competitive disadvantage unless it engineers a digital dollar soon.
The Importance Of An E-Dollar
Novogratz, chief executive of digital merchant bank Galaxy Digital GLXY, underlined the value that a digital dollar could bring to the US. In a Friday interview with MarketWatch, he stated:
”To me it is an existential crisis, we need a digital dollar.”
Furthermore, the investor expressed his view over the current COVID pandemic and the negative impact on the U.S. market and the world, in general. He referred to the trillions of dollars of monetary and fiscal spending done to help eliminate the worst of the economic

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Altcoin Season 2021 Booming as BTC Dominance Hits 2-Year Low: The Weekly Crypto Recap

4 days ago

This week we saw altcoins taking for the skies as Bitcoin was rangebound. This led to a plummeting BTC dominance that hit a 2-year low.
Bitcoin was trading slightly below $60K this time last week, and everyone had their hopes up that it would conquer this coveted level. Unfortunately, last Saturday, the price started showing signs of weakness, and it declined all the way to $57K on Sunday.
From there, Bitcoin started trading flat and made another unsuccessful attempt at $60K on Monday. Bulls didn’t have it in them, though, and as the week went by, the price remained indecisive. This led to a serious drop on Wednesday, which saw BTC going down to almost $55K and leaving billions worth of liquidations across the board.
Nevertheless, the bulls regrouped and started pushing

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Coinbase Rival Kraken Considers Going Public in 2022

5 days ago

Another major US-based cryptocurrency exchange is reportedly considering going public. Kraken revealed record-breaking Q1 numbers and is also planning an IPO – following in the footsteps of Coinbase.
Coinbase is the first major US-based cryptocurrency exchange that will see its IPO later this month.
As CryptoPotato reported, the company will have its shares listed on Nasdaq on April 14th.
However, Coinbase isn’t the only one. According to a CNBC release, Kraken is also considering going public.
The exchange also contemplates a direct listing, but it would supposedly happen next year – in 2022.
The news came as Kraken released its quarterly report, revealing record-breaking numbers following Bitcoin’s face-melting rally to above $60K.
For us, any volatility is good but it’s

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Binance Smart Chain Daily Transactions 200% More Than Ethereum’s

5 days ago

Binance Smart Chain (BSC) is enjoying a steady flow of unique addresses which has also resulted in a massive surge in the daily transaction count the network is processing.
BSC Transactions 200% More Than Ethereum’s
Binance Smart Chain is undoubtedly one of the most popular networks amongst DeFi enthusiasts. Its capability to handle a large number of transactions per second efficiently has made it a preferred hub for various projects and users.
The network is surging in popularity, and this is perfectly exemplified by its core metrics, including the daily transactions count.
As of April 7th, 2021, BSC set a record of more than 4 million daily transactions – it’s the current all-time high for the blockchain. Interestingly enough, Ethereum saw a little less than 1.3 million,

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$1.8 Billion Longs Liquidated in a Day as Bitcoin Price Dips Below $56K

6 days ago

The bears had the upper hand in today’s trading session as markets are red across the board. Bitcoin’s price dipped to $55,600, causing a serious number of liquidated long positions.
Bitcoin’s price took a turn for the worst today and declined from an intraday high of around $58,600 to a low of $55,600, losing $3,000 from its dollar value.
At the time of this writing, the price hovers indecisively around $56,000.
BTC/USD. Source: TradingViewThe entire cryptocurrency market followed BTC’s near 10% daily decrease. Ethereum plunged to $1,930, down 8% in 24 hours.
Binance coin also retraced after it marked a new all-time high above $410 and currently sits at around $360 for 5% daily drop.
The same is true for other large-cap cryptocurrencies such as ADA, DOT, UNI, LTC, LINK,

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4 Reasons Altcoin Season 2021 Has Officially Started

7 days ago

The cryptocurrency market is on fire. The market capitalization has surged past $2 trillion for the first time in its history.
Interestingly enough, this was led mostly by alternative coins, or altcoins, surging in value. Bitcoin, on the other hand, failed to break above $60K on multiple occasions over the past month, giving serious merits to the notion that altcoin season 2021 is brewing.
In January this year, CryptoPotato reported that Secrets of Crypto, which is one of the well-known and respected cryptocurrency analysts, said the altcoin season for 2021 is just starting, and so far, it appears to be right.
With this in mind, let’s have a look at a few reasons for which this might be the case.
Bitcoin Dominance at a 1-Year Low
The bitcoin dominance is the best metric to

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Bitcoin Closes Best Q1 Ever Looking to Reclaim $60K: The Weekly Crypto Recap

11 days ago

This week was undoubtedly bullish for the entire cryptocurrency market, which came inches away from $2 trillion. This happened as Bitcoin looks to reclaim $60K, Ethereum surged above $2,000, and BNB saw a brand new all-time high.
In retrospect, it was up only for the entire market during the last seven days. Bitcoin started trading at around $54K and progressed slowly but steadily through the week. On Monday, the price skyrocketed to above $58K before another leg up Tuesday, which saw the price testing $60K. Unfortunately, as of yet, it was unable to decisively break above it, and we are yet to see if it will be able to conquer the coveted level. Nevertheless, BTC is up a nice 10%. With this, the cryptocurrency also closed its best Q1 so far, with gains of around 100%.

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Justin Sun Buys Picasso Painting for $20M to Tokenize on JUST NFT Fund

12 days ago

In another whopping purchase, Justin Sun, the founder of one of the largest blockchain-based projects, TRON, and the CEO of BitTorrent, has bought Picasso’s “Femme nue couchée au collier” for $20 million. 
Besides that, he has also bought “Three self portraits” by Andy Warhol for $2 million, and he plans to tokenize both and launch them on the JUST NFT Fund in the weeks to come.
Justin Sun’s Forray into Digital Art Continues
Justin Sun is well-known within the cryptocurrency community and is undoubtedly one of its most influential proponents.
The young crypto tycoon has recently bought two paintings worth $22 million in total. According to a press release shared with CryptoPotato, Sun bought “Femme nue couchée au collier” by Picasso and “Three self portraits” by Andy

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$600 Million Liquidated as Bitcoin Price Drops $3000 in Minutes, Rejecting the $60K Resistance

13 days ago

Bitcoin went through a sudden crash in today’s European morning trading session, losing around $3,000 of its dollar value in less than an hour. As it’s almost always the case, this caused a serious wave of liquidations throughout the entire market, with over $600 million of leveraged positions wiped out.
In the past hour, data shows that there are over $600 million liquidations – both long and short.
The overwhelming majority of liquidations were long positions, accounting for around 95% of the total amount.
Leading the way is Binance, which is almost always the case since Binance Futures is the world’s leading derivatives exchange by means of users and volume.
The largest single liquidation order took place on Huobi – it was a BTC order worth over $14 million.
All of the

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Michael Jordan, Will Smith Participate in $305 Million Investment in NBA Top Shot Maker

14 days ago

With collaboration from the NBA, highlight clips have become NFT collectible cards. Canadian technology company Dapper Labs continues its lucrative streak by nabbing a whopping $305 million dollars from new investors.
Private Equity Firm Cotue Rakes in Big Names
The New York investment company Coatue Management, responsible for several other technology investments, has sealed a lucrative deal for Dapper Labs. Household NBA names like Michael Jordan, Kevin Durant, and Klay Thompson are just a few on the extensive list. It doesn’t stop with basketball. Entertainment industry notables like Will Smith, Ashton Kutcher, and Shawn Mendes are also in the mix.
Dapper Labs, the company behind NBA Top Shot, first gained fame for the video game CryptoKitties. The project quickly

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Bitcoin Price Eyes $60K as Stablecoins on Exchanges at All-Time High

15 days ago

After a slow weekend where the price more or less remained unchanged, Bitcoin made a move today, giving new bullish targets.There might be a reason for that, according to analysts at CryptoQuant.Bitcoin Price Eyes $60KEarlier today, CryptoPotato reported that Bitcoin’s price appeared stuck around $55K despite the volatility during the weekend.However, being the beginning of a new week, Monday saw positive developments in regards to the price, as BTC soared around $3,500 in a matter of hours, poking above $58K.From a technical perspective, this revealed a couple of things. First, it showed that there is significant demand below $55K as bulls didn’t let the price rest there for a long time. The dips got scooped, and the recovery was relatively quick.Second, BTC is currently battling a major

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Top 5 Cryptocurrencies to Watch in April

16 days ago

The past seven days were quite the roller coaster in the cryptocurrency market, which, fortunately, ended well.The total market capitalization is currently more or less at the same level as where it was one week ago, despite having lost almost $100 million on Thursday when Bitcoin’s price collapsed to $50K.With this said, we take a look at the top 5 cryptocurrencies to keep a close watch over the next few weeks.Bitcoin (BTC)It goes without saying that, for the most part, wherever Bitcoin goes, the market follows. While the rate might not be equal, BTC has dictated the direction of the market for most of the current bull run.Last week, we saw a major announcement from Tesla – the giant electric vehicle manufacturer revealed that users can now pay for a Tesla with BTC. Elon Musk tweeted it,

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Bitcoin Rejected At $60K While Global Markets Start To Splutter: The Weekly Crypto Recap

18 days ago

This week was tough across the board as both cryptocurrencies and legacy markets took a beating. Bitcoin was rejected at $60K and dropped all the way down to $50K, but, fortunately, it found support and is now attempting a recovery.The cryptocurrency started the week trading at around $59K and took a shot at the coveted $60,000 mark but failed. It was all downhill from there as BTC retraced all the way down to $50,000 before finding serious support and bouncing back to where it’s currently sitting at around $54K.It’s worth noting that on March 24th, Elon Musk announced that people can now buy Teslas with BTC, which sent the price soaring. Unfortunately, the rally was unsustainable, and the retrace was swift.Legacy markets also took a hit. The S&P 500 managed to recover roughly to where it

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Charles Hoskinson Reveals Timeline for Cardano Smart Contracts Testnet

18 days ago

The founder of Cardano, Charles Hoskinson, tuned in through another video, explaining some of the next steps ahead of the team. In the laid-out roadmap, he outlined that a testnet for the long-awaited smart contracts on Cardano should be rolled out in late April or early May.Cardano Smart Contracts Getting CloserAt the time of this writing, Cardano’s native cryptocurrency, ADA, is trading at around $1.20 and sits on a market cap of almost $40 billion. This makes it the fourth-largest project by means of total capitalization.This fact has attracted a lot of naysayers who argue that the valuation is highly speculative as what’s touted as a competitor to Ethereum doesn’t even have smart contract capabilities yet.With this said, the founder of Cardano, Charles Hoskinson, came out with a recent

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Bridging CeFi and DeFi: Liquidity-as-a-Service Coming to Orbs Blockchain

21 days ago

Attempting to improve access to DeFi interest-bearing accounts, including for individuals, businesses, professional investors, and corporations, Orbs is introducing Liquidity Nexus to act as a bridge between centralized and decentralized finance. This Liquidity-as-a-Service solution looks to make DeFi applications more available and less risky.Liquidity Nexus will provide an intuitive platform that’s simple to operate as any traditional website. The DeFi ecosystem shows massive potential and continues to expand as more value is injected, but is inherently limited due to the high barrier to entry. This leaves a class of larger, more risk-averse professional investors on the sidelines, something that Orbs looks to address.Decentralized Infrastructure With Centralized AccessThrough the

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Cardano is Overwhelmingly Subscribed Despite Having no Smart Contracts Yet: Charles Hoskinson

21 days ago

The founder of Cardano, Charles Hoskinson, has stated that his company has seen “overwhelming demand” despite only being in the second stage of its Goguen upgrade.Currently, Cardano does not have programmability at the base layer, with no smart contracts for the moment, but this didn’t stop companies from subscribing to it, according to Hoskinson. Several applications, such as BeefChain, are already using Cardano’s metadata features.Over 100 Companies Migrating to Cardano“At the moment our company has no more capacity to serve the flow that comes to Cardano,” stated Hoskinson in a video.He previously said that over 100 companies could potentially migrate from Ethereum to Cardano, despite not having established the ground for smart contracts.The inflow of clients has increased since Cardano

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XRP Price Surges 12% Following Positive News in the Ripple-SEC Case

21 days ago

Positive news emerged for Ripple (XRP) late last week as the blockchain giant looks to get relisted on US coin exchanges. In a historic SEC lawsuit against Ripple Labs, a judge involved in the discovery process acknowledged XRP’s viability as both a currency and utility. In the same hearing, the SEC admitted that only Ripple and its affiliates are capable of illegally soliciting securities. Could this open the gateway for relisting?The Significance of XRP as a CurrencyJudge Sarah Netburn of the Southern District Court of the United States characterized XRP exactly how Ripple lawyers characterize it—as both a currency and a utility.If Ripple successfully argues its native coin is a currency (and not a security), the entire case unravels. It appears that Judge Netburn is nearing that

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TRON Embraces NFTs and Gaming with MixMarvel Partnership

22 days ago

With non-fungible tokens (NFTs) permeating the mainstream, TRON is doing everything it can to guide some of that attention to its network. Following a strategic collaboration between TRON and MixMarvel, the latter’s blockchain-agnostic gaming ecosystem will be bringing its tokenized gaming interface to TRON.This is intended to unlock new value for both communities, as MixMarvel will be able to introduce TRX as a base asset in its gaming ecosystem and gain access to TRON’s community, while the TRON network receives tokenized games for its users and developers to play, build upon, and monetize.Giving Gamers Full ControlIn the traditional gaming industry, all-digital in-game items are controlled by the game operator, giving them the ability to wipe out everything in the gaming universe should

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NFTs Absolutely in a Bubble, Says Beeple Following the Record $69 Million Sale

22 days ago

NFT prices are in a bubble. That’s according to the third most valuable living artist today. Mike ‘Beeple’ Winkelmann, in an interview, said that despite the inflated prices, the technology itself is strong.NFTs Absolutely in a Bubble, Says BeepleMike Winkelmann, who is better known for his artist name Beeple, especially within the cryptocurrency community, believes that non-fungible tokens (NFTs) are in a state of a bubble.In a recent interview for Bloomberg, the artist said that NFT art is “absolutely” in a bubble.I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.However, he also said that this didn’t “wipe out the internet, And so the technology itself is strong enough where I think

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What Is NFT? Non-Fungible Tokens Guide For Dummies

23 days ago

With the creation of Bitcoin back in 2009, Satoshi Nakamoto would have probably never guessed that the world would buy digital, collectible CryptoKitties, Punks, Hashmasks, celebrity music, and so forth.However, all of the above made use of a whole new Ethereum standard for identifying unique assets on its blockchain – the ERC-721, better known as the solution for the creation and transfer of non-fungible tokens.This article discusses the following questions related to non-fungible tokens:What is a non-fungible token (NFT)?We can describe an NFT as a cryptographic token that defines an asset uniquely. It can represent both a digital asset such as an image, but it can also track real-world assets, such as a house or car, or a song, for example. As you can uniquely define assets, this means

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Another Binance Smart Chain Rug Pull: TurtleDex Drains $2.5 Million in BNB

24 days ago

TurtleDex, a decentralized Binance Smart Chain protocol, went through a rug pull. The protocol drained 9000 BNB, approximately $2.5 million. The owners immediately deleted TurtleDex’s telegram, the official website, and the Twitter page.A “rug pull” is a popular term in the DeFi space. In essence, the team behind the project pulls out the liquidity of the tokens being traded and makes off with the money, nowhere to be seen.A Sad day for TTDX HoldersJet Fuel Finance, a yield farming protocol that partnered with TurtleDex, confirmed the scam today on Twitter. A user informed about the diversion of the liquidity pools on PancakeSwap and ApeSwap. Both protocols lacked liquidity as users desperately sold  TTDX tokens at levels nearly to zero.Attention – The Turtledex (#TTDX) team has exit

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Above $60K and Back, Bitcoin’s Wild Rollercoaster: The Crypto Weekly Recap

25 days ago

This was an important week in Bitcoin’s history. For the first time ever, the price reached an all-time high above $60,000. Regardless, it was an intense few days in terms of price action, and many altcoins also experienced serious volatility.It all started last weekend. On Saturday, the price started trending upwards and managed to breach $60K for the first time in history. In fact, it went as high as $61,800 and actually managed to hold above the important level throughout the entire weekend.On Monday, however, it was all doom and gloom. The price corrected all the way down to about $53,000 in a few violent swings. This left its mark as we saw over $2.2 billion worth of long positions liquidated as the bears clear had the upper hand. It wasn’t long after that, however, that BTC started

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US SEC Puts VanEck Bitcoin ETF Proposal up for Discussion

25 days ago

The Securities and Exchange Commission has put VanEck’s ETF ( Exchanged-traded fund) proposal for discussion. The institution now has a 45-day window to approve, deny, or even extend the review process to at least 240 daysVanEck’s proposal was published on the SEC’s official website. Several companies and investment firms have been trying since 2017 to launch a Bitcoin ETF, filing numerous proposals over time. All of them were rejected by the regulatory body, citing “market manipulation” and “extreme volatility”.Will We Finally See a Bitcoin ETF?VanEck, an American investment giant, made several attempts to launch a Bitcoin ETF. As reported by CryptoPotato, in December last year, VanEck filed for an S-1 form with the SEC to launch its first Bitcoin ETF, called VanEck Bitcoin Trust.Weeks

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What is BitClout? The Latest Crypto Hype – Is It Safe?

26 days ago

Every now and then, the cryptocurrency community is taken ablaze by a new project that does the rounds.Now, it seems that Bitclout is where all the rage is – a new type of social network, the intention of which is to enable users to speculate on people and posts with real money.Let’s have a closer look at what Bitclout is and why it is so popular right now.What is the Bitclout Network?Bitclout is a new decentralized protocol that brings forwards a social network, enabling users to speculate on people and posts using real money.According to the project’s official whitepaper, it’s set up on its own custom blockchain and boasts a similar architecture to Bitcoin. However, it can only support data like posts, follows profiles, and other speculation features.Without providing any further

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AAVE Enables Uniswap and Balancer LP Tokens for Collateral

28 days ago

AAVE, one of the market’s leading lending protocols, brings further offerings to its value proposition. In a recently released announcement, the protocol revealed that they have now enabled Uniswap and Balancer LP tokens to be collateralized on the platform.AAVE currently holds over $5 billion in total value locked, according to data from DeFi Pulse, and it ranks third in terms of this metric, trailing behind Maker and Compound.In a recent announcement, however, the protocol has taken steps to expand that, targeting one of the hottest segments of the DeFi market – automated market makers and, in particular, Balancer and Uniswap.According to the release, “the new AMM Liquidity Pool enables liquidity providers of Uniswap and Balancer to use their LP tokens as collateral in the Aave

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REEF Finance CEO Addresses the Alameda Research Fiasco: What We Know So Far

29 days ago

Sam Trabucco, a quantitative cryptocurrency trader, part of the Alameda Research team, took it to Twitter today to reveal that the company is in no way affiliated with REEF Finance. This came as a shock to the community, following a marketwide announcement last week that the latter had invested $20 million in REEF as a strategic placement and future communal initiatives.CryptoPotato received word from the CEO of REEF Finance, who explained what happened, in their view.Sounding the Alarm: Sam TrabuccoLast week, CryptoPotato reported that REEF Finance had received a $20 million investment from Alameda Research – a leading trading and research comapnies in the industry.According to the official initial release, the investment was carried out in the form of a direct purchase of REEF tokens,

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Number of BSC DeFi Projects Under a DNS Hijack Attack, CZ Binance Warns

29 days ago

PancakeSwap, the largest and most popular decentralized cryptocurrency exchange and automated market maker (AMM) on Binance Smart Chain, might have had its DNS hijacked. Cream Finance is also under attack.In a tweet shared minutes ago, PancakeSwap’s official account revealed that the platform might have had its DNS (Domain Name System) hijacked.Until we are able to confirm this is not the case, do not use the site. We will confirm ASAP. In the meantime, better safe than sorry. – The team said.No further details were revealed as of the time of this writing and so far, the price for the platform’s native token CAKE doesn’t seem to have reacted.Just about an hour ago, another popular DeFi-related project, Cream Finance, shared similar news.Our DNS has been compromised by a third party; some

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