Tag Archives: AA News

Israeli authorities have arrested three individuals suspected of defrauding the French state treasury. The undercover investigation was carried out jointly by the Israel police and the Israel Tax Authority over the last few months. Foreign investigative agencies – Europol and the French Police – also cooperated. As per Reuters, the investigators are looking into a potential “large-scale fraud” that they believe was committed against the state treasury in France. The crime,...

Coin Centre – a non-profit crypto policy think tank – is considering a court challenge against the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).  The challenge is a response to the OFAC’s recent addition of privacy protocol Tornado Cash to its Specially Designated Nationals And Blocked Persons (SDN) List. Coin Centre has provided extensive legal analysis arguing that this exceeds the office’s statutory authority. Why Was Tornado Sanctioned? Per the think...

The Singapore High Court on Monday granted crypto exchange Zipmex protection from creditors until December 2. Zipmex had asked the court for bankruptcy protection on July 22 and more time for debt restructuring on August 4. Court Order Affects Thai Investors Zipmex operates in Singapore, Thailand, Indonesia, and Australia. After it halted withdrawals last month, Thai regulators promptly asked for clarification. As per media reports, nearly 20,000 local customers have...

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...