Tag Archives: AA News

The fall of the fourth largest cryptocurrency began with an unannounced transfer of funds between trading pools on the night of May 7. It left the Curve pool with an imbalance on the side of Luna. This anomaly could have been set right as it’s not an entirely uncommon phenomenon. But in this case, the situation turned from bad to worse, writing off one of the most infamous network collapses in crypto history. In an interview, Do Kwon admitted that he believes...

The United Nations Conference on Trade and Development (UNCTAD) believes the impact of cryptocurrencies should be limited in developing nations. According to the agency, digital assets are unstable financial products that could cause further issues to already shattered economies. Amid the global monetary crisis, numerous residents of emerging countries chose to convert their depreciating fiat currencies into stablecoins. However, the UNCTAD warned that such tokens also pose...

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 liquidity pool.” The misconfiguration has now been rectified, according to the project.  We have identified the issue as...

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 only buy sustainable cryptocurrencies. However, the company pointed out that many people are not aware which digital assets...

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 of the largest attacks in crypto’s history: the $615 million Ronin attack. Cybercriminal’s Favorite Target: Crypto Bridges It...

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 negative implications on the crypto industry? Spain and France’s Tale Spain’s annual inflation rate hit 10.8% in July, a little above market expectations...

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 a unit. According to the official blog post, the partnership will help users to leverage “single-click” trading with “no leg...

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 center for the European region due to its green policies. According to estimations, 98% of the energy production in the nation comes...

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 financial services and the monetary crisis that reigns across the state. Nigeria Occupied the First Spot By...

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 so she would drop divorce proceedings. Ilg now faces five to eight years of prison time. The US authorities will announce the exact punishment in...