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Tag Archives: News

FTX Settles with CFTC for $12.7 Billion

The defunct exchange FTX, once operated by the disgraced convict Sam Bankman-Fried, has settled with the Commodity Futures Trading Commission (CFTC) for a whopping $12.7 billion. This development comes after the lawsuit, filed by the CFTC, played out for 19 months. While both parties have agreed to the number, the court’s approval remains. “The Proposed Settlement is an integral and valuable component of the Debtors’ proposed chapter 11 reorganization plan,” Carl R Metzger, senior trial...

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LI.FI Hack Causes Losses Worth Over $10 Million

LI.FI, a protocol offering bridging and swapping services between the Ethereum Virtual Machine (EVM) and Solana, was attacked by cybercriminal(s), allowing them to walk away with more than $10 million. The attack targeted smart contracts, taking advantage of bugs to steal the funds stored by them and within wallets interacting with them. Cyvers Alerts notified the crypto community about the occurrence, “More than $8M have been drained so far from users and mostly stablecoins! Attacker is...

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Mt. Gox Transfers Billions, Causing BTC Price to Slump by 3%

The defunct exchange Mt. Gox transferred massive amounts of BTC to its internal wallets and an unknown wallet, forcing BTC’s price to drop below $63,000 on July 16, marking a 3% dip. BTC rallied close to $65,000 prior. With creditors awaiting repayments through chosen exchanges, Mt. Gox is seemingly preparing to transfer asset bulks to them, bifurcating funds in multiple wallets, according to data provided by Arkham Intelligence. Its main wallet observed transaction volumes of over 190,000...

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