Crypto news

Marathon Digital Holdings – one of the leading bitcoin miners – mined 687 BTC in January 2023, a 45% increase compared to the last month of 2022.  However, the company shifted from its non-selling strategy, parting with 1,500 BTC to cover operational expenses. Change of Plans Marathon started the year by producing 687 BTC in January, a significant increase compared to 475 BTC in December 2022. Fred Thiel – Chairman and CEO – explained that the better results resulted from the...

Bitcoin was quite volatile after the US Federal Reserve announced the latest interest rate hike, which ultimately resulted in tapping a new 5-month high. Since then, though, the asset has calmed at around $23,000. Several altcoins have outperformed it in the past 24 hours, including Shiba Inu, which has soared by double digits. Bitcoin Drops Back Down to $23K Despite losing some ground at the end of January, BTC still closed it well in the green, posting its best month since...

Nandalal Weerasinghe – Governor of the Central Bank of Sri Lanka – rejected Tim Draper’s idea to eliminate corruption in the country by embracing bitcoin. The banker argued that adopting the primary cryptocurrency could worsen the economic situation of the nation. Dismissing the Bitcoin Concept The American venture capital investor recently visited Sri Lanka to shoot an episode of his TV show “Meet the Drapers.” He also held discussions with the President of the country –...

Blockchain security firm PeckShield has disclosed a series of transfers from three addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet. According to Etherscan, the address labeled “Alameda Consolidation” received $13 million worth of crypto assets from three different wallets. The first belongs to the leading crypto exchange Bitfinex. It transferred approximately 6 million USDT and 1,545 ether (ETH), amounting to roughly $8.5...

The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million. The company filed for bankruptcy protection a few days before Christmas 2022. Looking for a Way Out According to a filing with the bankruptcy court for the southern district of Texas, Core Scientific agreed to transfer over 27,000 of its mining rigs (around 18%...

Orion Protocol – a liquidity aggregator for both CeFi and DeFi exchanges – saw its core contract hacked on Thursday across both its Ethereum and Binance Smart Chains (BSC) deployments.  The hacker netted over 1700 ETH, cumulatively worth over $3 million at writing time.  Another Reentrancy Hack As explained by the blockchain security company PeckShield on Twitter, Thursday’s hack was made possible “due to incomplete reentrancy protection.” A reentrancy bug refers to when an...

Tulip Trading – a Seychelles-based company founded by Craig Wright – has successfully brought its case against multiple Bitcoin developers to trial in the United Kingdom.  Wright’s firm alleges that these developers owe “fiduciary duties,” or “duties of care” to police and control the Bitcoin network.  The Duties of Bitcoin Developers The ruling, handed down on February 3, marks a successful appeal from Tulip to the U.K. Court of Appeals to overturn a decision previously...

American media personality, professional wrestler, and actor Logan Paul is one of the defendants in a class action lawsuit filed against failed non-fungible token (NFT) project CryptoZoo. The class action, filed by police officer Don Holland on behalf of 20,000 other victims, alleges that Paul and other defendants executed a rug pull after manipulating the price of CryptoZoo’s native token (ZOO). Logan Paul Sued for Defrauding CryptoZoo Investors According to the document,...

A resident of Middlesex County in the United Kingdom has fallen victim to crypto fraud and lost more than $100K at the time of writing. Fraud Continues to Be a Big Problem Police authorities suggest the fraud occurred after the victim formed a relationship with an unknown person online. While this wasn’t necessarily a romance scam, it very much operated in the same manner. The defrauded person began engaging in regular conversations with the other party and at first,...

Optimism continues to perform. The cryptocurrency just painted a fresh all-time high which, at this point, happens almost daily. This brings its total gains for the week to around 43%. Optimism continues to be one of the best performers within the cryptocurrency market, and its native token – OP – managed to increase by 43% in the past seven days. Its monthly gains are even more impressive, clocking in at around 230% for the past 30 days. At the time of this writing, OP...