Hackers Steal $840,000 in Orange Finance DeFi Breach In a major blow to the decentralized finance (DeFi) ecosystem, hackers have exploited vulnerabilities in Orange Finance, a popular protocol on the Arbitrum blockchain, making off with over $840,000. The attack targeted weaknesses in the platform’s smart contracts, compromising the admin address and enabling the withdrawal of...
Ripple Integrates Chainlink for Reliable RLUSD Stablecoin Price Data Ripple has announced a partnership with Chainlink to enhance the utility of its RLUSD stablecoin by leveraging Chainlink’s decentralized Oracle network for trustworthy on-chain pricing data. The integration is set to enable developers to incorporate RLUSD into decentralized finance (DeFi) applications such as trading and lending,...
MicroStrategy Bolsters Bitcoin Holdings with $101 Million Acquisition MicroStrategy, the business intelligence firm renowned for its aggressive Bitcoin (BTC) acquisition strategy, has announced the purchase of an additional 1,070 BTC worth $101 million. This move, completed between December 30 and 31, further cements the company’s status as a corporate leader in Bitcoin adoption. With this...
Bitcoin Network Settles $19 Trillion in Transactions in 2024 The Bitcoin network processed an astounding $19 trillion in transactions in 2024, more than doubling the $8.7 trillion recorded in 2023. This surge marks a significant reversal of the two-year decline in transaction volume that began after the 2021 bull market. Pierre Rochard, vice president of...
Binance Expands Support for Memecoins Across Africa Leading cryptocurrency exchange Binance has broadened its offerings in the African region by introducing expanded support for three popular memecoins: Pepe (PEPE), Dogecoin (DOGE), and Shiba Inu (SHIB). This initiative aims to boost accessibility and trading activity for these tokens, potentially influencing their price performance as more participants...
Turkey has unveiled new cryptocurrency regulations aimed at combating money laundering and terrorism financing. Announced during the final week of 2024, the regulations reflect influences from major global frameworks, including Europe’s upcoming Markets in Crypto-Assets (MiCA) bill. Under the new rules, cryptocurrency service providers in Turkey must collect identifying information for transactions exceeding 15,000 Turkish...
The Russian government has approved a comprehensive set of restrictions on cryptocurrency mining, with blanket bans in 10 regions and seasonal limitations in three Siberian territories. The measures, announced on December 24 by the local news agency TASS, will take effect on January 1, 2025, and extend until March 15, 2031. The blanket bans will...
Botswana’s central bank has assessed the country’s cryptocurrency markets as underdeveloped, posing only “minimal” risks to financial stability at present. However, in its Financial Stability Report, the Bank of Botswana emphasized the need for proactive regulations to mitigate potential future risks associated with digital assets. The report highlighted that as the cryptocurrency market becomes increasingly...
The liquidators of the defunct cryptocurrency exchange Cryptopia have started distributing funds to users affected by a hack that occurred nearly six years ago. Grant Thornton, the firm overseeing Cryptopia’s liquidation, announced on December 20 that more than 10,000 verified account holders have begun receiving payouts. Over the past two days, verified holders of Bitcoin...
Computation firm Nexus has reported significant interest in its decentralized supercomputer, drawing over 1.5 million nodes from 187 countries during a recent five-day testnet period. The project aims to aggregate computing power globally from computers and mobile devices to create a “Verifiable Internet.” Nexus raised $25 million in Series A funding in June to support...
