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Tag Archives: News

WazirX Hack: $6.5 Million Moved to Tornado Cash

The recent hack of the cryptocurrency exchange WazirX has witnessed a significant development. The hackers have transferred 2,600 ETH, worth approximately $6.5 million, to Tornado Cash, a cryptocurrency mixer that is under U.S. sanctions. This action, identified by the security firm PeckShield, is a common technique used by cybercriminals to obscure the trail of stolen funds and make it more challenging for authorities to trace and recover them. On the 18th of July 2024, WazirX was struck by...

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DeFi Protocol Threshold Wants to Merge with WBTC

Threshold has proposed a merger of its tBTC token with WBTC as the industry is concerned for the latter’s future. Threshold, a protocol offering a decentralized version of wrapped bitcoin through its tBTC token, has proposed a merger with BitGo’s WBTC token in an effort to “save” the biggest wrapped bitcoin token by market cap. WBTC’s future has become concerning for the crypto community after BitGo partnered with Hong Kong-based BiT Global to expand its foothold beyond the United States....

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Pump.fun Surpasses $100M in Revenue Since January Launch

Pump.fun, a memecoin launchpad that launched in January 2024, has quickly become one of the hottest platforms in the crypto industry, recently surpassing $100 million in total cumulative revenue for its developers. According to a dashboard maintained by Dune Analytics, this figure reflects the platform’s remarkable growth, along with users’ interest. Pump.fun obtains its revenue from a 1% charge on each transaction, which is quite appealing to the developers. However, to sustain the future...

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Cardano’s Chang Hard Fork Debut Bring On-Chain Governance Live

Cardano introduces the Chang hard fork, a step towards decentralized governance. The new governance system includes DReps and a tricameral layout to ensure balanced decision-making. The Cardano blockchain has taken an immense step toward decentralized governance with the release of the Chang hard fork. At 10:44 p.m. London time on Sunday, Cardano began handing control of its $13 billion blockchain to holders of its native ADA coin. This is the first stage of the blockchain’s shift to a fully...

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Qatar Launches Crypto Regulatory Framework

The Middle East is making strides in crypto adoption and regulatory development. Qatar now adds to that by introducing a comprehensive digital assets framework. More specifically, the regulations were introduced in the Qatar Financial Centre (QFC) by the Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA). Like the UAE’s multiple free zones, the QFC is an independent economic zone aimed at fostering businesses and innovation in various fields. It...

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