Category: crypto

In October, the crypto community experienced over $45.84 million in losses due to hacks, exploits, and scams. Notable incidents included the SBI Crypto hack, Garden Finance hack, and phishing attacks. GoPlus Security reported a surge in honeypot tokens, with 2,189 identified across Ethereum, Base, and BSC networks, trapping investors.

The aPriori airdrop was exploited by a single entity using over 14,000 connected wallets to claim more than 60% of the distributed tokens. This indicates a sybil attack, a common issue in crypto airdrops. Similar attacks have been seen in other recent token launches like MYX Finance and Avantis.

The Ontario Court of Appeal ruled in favor of Binance, stating that the Ontario Securities Commission’s request for communication documents was unconstitutional. The OSC had demanded internal communication documents from Binance dating back to January 2021 as part of an investigation, but the court found the request to be overbroad and unconstitutional.

Phantom Wallet CEO Brandon Millman confirmed that the company will not launch its own blockchain or go public through an IPO. Instead, they will focus on investing in existing ecosystems like Solana and improving user experience. The firm plans to remain private and continue growing with support from investors.

Visa has launched a new stablecoin payouts pilot program to simplify payments from businesses to creators. The initiative allows businesses to send USD-backed stablecoin payouts directly to digital wallets. This aims to give creators quicker access to their earnings and reduce delays associated with traditional payout methods.

Sun Wukong, a Chinese decentralized contract exchange, reveals its proof-of-reserves page showing $64.14 million in stablecoin reserves, with a 100% reserve ratio in USDT. The platform has achieved nearly $5 billion in total trading volume and has over 58,000 active users since its launch in October.

Meteora price surged 28% to $0.50 with potential to reach $0.60. Overbought conditions and high volatility pose pullback risks. The increase is attributed to listings on Crypto.com and Coinbase Perpetuals. Meteora’s decentralized exchange generates fees comparable to Uniswap despite a smaller market cap. Technical analysis suggests potential for further gains.

The ICP team jokingly apologized for running full-stack apps entirely on-chain without traditional cloud services like AWS, despite the ICP token being down 99% from its all-time high. Community members criticized ICP’s underwhelming price performance, dropping from $750 to $6. Examples of full-stack apps on the ICP network were provided.

Astar Network has released a new roadmap to enhance its native token, ASTR. The roadmap includes plans to introduce a fixed supply cap, shift to a community-led governance system, and launch a Startale App by 2026. The network also aims to integrate with Plaza and increase community participation through governance changes.

Circle’s revenue in the third quarter reached $740 million, up 66% from last year, with USDC circulation doubling to $73.3 billion. Net income tripled to $214 million, driven by institutional adoption. The company also expanded its infrastructure with the launch of the Arc testnet and Circle Payments Network.