Tag Archives: News

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DeFi users on Solana reported having their funds drained mysteriously. A Chrome extension promoted on Reddit was a disguised crypto drainer, stealing funds by manipulating transactions. Jupiter, a DEX (decentralized exchange) aggregator, warned users of a new malware packaged as a Chrome-based extension called Bull Checker. It was advertised to serve the purpose of showing all the holders of any memecoin. Solana-based DeFi users who installed the extension reported having their assets...

The Hong Kong Monetary Authority (HKMA) has introduced new guiding principles for the use of generative artificial intelligence (AI) in consumer-facing applications, aimed at protecting end-users. These principles build upon the guidelines that were released in November 2019 and relate to big data and AI. The changes include governance and accountability, and integrity standards, including fairness, transparency and disclosure, data privacy, and protection. Alan Au, the executive director of...

Coinbase-developed blockchain Base attracted over 4 million unique wallets last week as its ‘Onchain Summer’ campaign unfolds. With this year’s campaign proving to be a hit, the same occurred last year, motivating Base to relaunch the campaign in the first place. Base hit 4 million active wallets last week, marking a new all-time high on this front. The enhanced engagement stems from its ‘Onchain Summer’ program that incentivizes builders and users alike. The Ethereum layer-2 has 600 ETH,...

Google is facing a $5 million lawsuit from Maria Vaca, who alleges that a cryptocurrency wallet app she downloaded from the Play Store was fraudulent and led to the theft of her digital assets. Vaca claims that the app, which appeared legitimate, resulted in significant losses after she trusted it to manage her cryptocurrency. The lawsuit, filed in a California state court, accuses Google of negligence for allowing the dangerous app to be available on its platform. Vaca points out that...

Pump.fun has launched on the Tron blockchain to allow users to deploy memecoins easily. It comes with a vetting process to prevent pump and dump scams witnessed on competition platforms. Justin Sun-associated DeFi platform Sun.io has released SunPump, a memecoin generator allowing users to launch tokens effortlessly. This platform comes as competitor pump.fun, operating on the Solana network, has become the heart of the memecoin narrative over the past few months. The Solana-based memecoin...

Arbitrum DAO voted on implementing liquidity staking for ARB holders to motivate users to lock their tokens onchain. The liquidity staking will route deposits to governance participants to secure the DAO against governance attacks looking to steal funds from its treasury. The Arbitrum DAO voted on a proposal to integrate staking utility for the Arbitrum layer-2’s native token ARB. Over 25,000 voted on the proposal, with a staggering 91% in favor of the upgrade. The proposal explained the...

Coinbase is launching a new initiative to explore the integration of artificial intelligence (AI) with cryptocurrency wallets. The company has introduced an accelerator grant program offering $3,000 to each of five selected projects that demonstrate innovative ways to combine AI with crypto wallets. The purpose of this paper is to discuss how large language models (LLMs), including ChatGPT by OpenAI and Claude by Anthropic, can control funding operations using blockchain. According to...

Ronin suffered from a $10 million attack on August 6 as an MEV bot withdrew the funds. The individual managing the bot returned those assets to the protocol. Blockchain cybersecurity firm Verichains revealed details about the Ronin chain attack on August 6, causing a loss of about $10 million. While the attack was brought by an MEV (maximum extractable value) bot overseen by a white hat hacker who returned the funds, the incident was highly concerning. The Verichains report mentioned how an...

Ethereum’s record low gas fees have receded to levels unseen for five years. Trends show Ether’s price increasing after such cycles. Ethereum’s gas fees have dipped to record lows, the lowest in five years. Transactions saw users paying gas of 0.6 gwei last week, a stark decrease from March’s 83.1 gwei, when the network witnessed tremendous usage, with the crypto market growing rapidly, marking a decline of about 95%. Gas fees reducing by this much can mean bullish action for Ether (ETH)...