TL;DR Breakdown The European Central Bank (ECB) recently increased the deposit rate to 4 percent, with investors expecting this adjustment to be the last for the near future. There is uncertainty regarding how quickly price pressures might recede, especially due to the ongoing acceleration in wage growth across Europe. Spain’s Economy Minister, Nadia Calvino, believes the ECB is likely finished with its tightening monetary policy. Description Some of the more assertive members within the European Central Bank (ECB) foresee the potential for another increase in interest rates come December, contingent on a sustained rapid surge in wages and if inflation proves more stubborn than anticipated. The recent rate hike on Thursday, pushing the deposit rate to 4 percent, is widely anticipated … Read more Some of the more assertive members within the European Central Bank (ECB) foresee the potential for another increase in interest rates come December, contingent on a sustained rapid surge in wages and if inflation proves more stubborn than anticipated. The recent rate hike on Thursday, pushing the deposit rate to 4 percent, is widely anticipated by…

TL;DR Breakdown A recent Chainalysis report has revealed a new update about North Korean-linked hackers. The evolving tactics of North Korean-linked hackers. Description In a significant development, the amount of cryptocurrency stolen by North Korea-linked hackers has seen a substantial decrease, plunging by 80% from the staggering figures reported in 2022. However, blockchain analysis expert Chainalysis has cautioned against interpreting this decline as a sign of progress in cybersecurity, as the threat remains ever-present. As of September 14, … Read more In a significant development, the amount of cryptocurrency stolen by North Korea-linked hackers has seen a substantial decrease, plunging by 80% from the staggering figures reported in 2022. However, blockchain analysis expert Chainalysis has cautioned against interpreting this decline as a sign of progress in cybersecurity, as the threat remains ever-present. As of September 14, 2023, North Korea-affiliated hackers had pilfered cryptocurrency totaling $340.4 million. This figure marks a stark contrast from the previous year when a record $1.65 billion in cryptocurrency was reported stolen. Chainalysis issues caution amid a decline in hack activity Chainalysis, a blockchain forensics firm,…

TL;DR Breakdown Bull Bitcoin has announced an expansion into the Costa Rican cryptocurrency market. Bitcoin Jungle paves the way for circular economy. Description In a significant move amid the global expansion of cryptocurrency companies, Bull Bitcoin, a Canadian Bitcoin exchange, has announced its entry into the Costa Rican market. Bull Bitcoin has achieved a milestone by becoming the first Bitcoin enterprise to leverage SINPE Movil, the primary payment provider in Costa Rica, to offer a Bitcoin on-and-off-ramp service. … Read more In a significant move amid the global expansion of cryptocurrency companies, Bull Bitcoin, a Canadian Bitcoin exchange, has announced its entry into the Costa Rican market. Bull Bitcoin has achieved a milestone by becoming the first Bitcoin enterprise to leverage SINPE Movil, the primary payment provider in Costa Rica, to offer a Bitcoin on-and-off-ramp service. Empowered by a Bitcoin circular economy initiative called the “Bitcoin Jungle,” users in Costa Rica can now seamlessly buy and sell Bitcoin (BTC) using the country’s national currency, the colón. Bull Bitcoin users to use SNIPE Movil for BTC transactions In order to facilitate…

TL;DR Breakdown North Korean APT group Konni exploited a newly disclosed WinRAR vulnerability (CVE-2023-38831) to launch its first-ever attack on the cryptocurrency industry, marking a significant shift in its target sectors. The sophisticated malware used by Konni could adapt its tactics based on the system’s architecture, employing different User Account Control (UAC) bypass techniques to execute its payload. Konni’s entry into targeting the cryptocurrency sector indicates a broader strategy by North Korean hackers, raising concerns about the industry’s preparedness against advanced and evolving cybersecurity threats. Description North Korean APT (Advanced Persistent Threat) group Konni exploits a recently disclosed WinRAR vulnerability to launch its first attack on the cryptocurrency sector. A new vector of attack North Korean APT group Konni has made headlines by exploiting a recently disclosed WinRAR vulnerability (CVE-2023-38831) to target the cryptocurrency industry, according to a Chinese security firm … Read more North Korean APT (Advanced Persistent Threat) group Konni exploits a recently disclosed WinRAR vulnerability to launch its first attack on the cryptocurrency sector. A new vector of attack North Korean APT group Konni has made headlines…

TL;DR Breakdown Remitano crypto exchange suffered a hefty $2.7M loss, with Tether’s quick response freezing $1.4 million of the stolen assets. The Lazarus Group, linked to North Korea, is suspected behind this and other major crypto heists in 2023, prompting calls for heightened security measures. Description In the dynamic realm of digital currency, where innovations are rapid and global adoption is accelerating, security remains a paramount concern. Recent events have added fuel to these concerns, with the Remitano cryptocurrency exchange witnessing a staggering loss of $2.7 million. This breach, part of a series of sophisticated cyberattacks on crypto platforms in 2023, … Read more In the dynamic realm of digital currency, where innovations are rapid and global adoption is accelerating, security remains a paramount concern. Recent events have added fuel to these concerns, with the Remitano cryptocurrency exchange witnessing a staggering loss of $2.7 million. This breach, part of a series of sophisticated cyberattacks on crypto platforms in 2023, sends a clear signal about the lurking vulnerabilities within the system.  Contents hide 1 The event unfolds: Remitano’s dark hour 2…

TL;DR Breakdown Hong Kong retains its position as the most crypto-readiness jurisdiction in 2023, followed by Switzerland and the United States. India leads global crypto adoption surge in 2023. Netherlands stood out, showing the highest interest per person when it comes to individual interest in crypto. Description Hong Kong has emerged as the world’s best-prepared jurisdiction for widespread cryptocurrency adoption in 2023 for the second consecutive year. A comprehensive study assessing factors like the presence of crypto infrastructure, accessibility, legality, and overall reach has unveiled that Hong Kong secured the top spot with a Crypto Readiness Score (CRS) of 8.36. Hong Kong … Read more Hong Kong has emerged as the world’s best-prepared jurisdiction for widespread cryptocurrency adoption in 2023 for the second consecutive year. A comprehensive study assessing factors like the presence of crypto infrastructure, accessibility, legality, and overall reach has unveiled that Hong Kong secured the top spot with a Crypto Readiness Score (CRS) of 8.36. Hong Kong faced stiff competition from the United States and Switzerland, which maintained their positions in the top three. However, the United…

TL;DR Breakdown Meta’s Horizon Worlds now extends beyond VR, launching early access for mobile and web, with experiences like the game ‘Super Rumble leading the way. In a quirky yet essential update, Horizon Worlds avatars now feature virtual legs, addressing a previously noted omission. Description In an ambitious move to extend the reach of its metaverse, Meta, formerly known as Facebook, has announced the expansion of its Horizon Worlds from a purely virtual reality domain to a wider audience of smartphone and desktop users. This step, reflecting Meta CEO Mark Zuckerberg’s expansive vision for a more inclusive metaverse, comes at … Read more In an ambitious move to extend the reach of its metaverse, Meta, formerly known as Facebook, has announced the expansion of its Horizon Worlds from a purely virtual reality domain to a wider audience of smartphone and desktop users. This step, reflecting Meta CEO Mark Zuckerberg’s expansive vision for a more inclusive metaverse, comes at a time when tech enthusiasts and analysts closely watch the race to establish a dominant space in the virtual realm. Contents hide…

TL;DR Breakdown The SEC accuses Binance.US of uncooperative behavior in their ongoing investigation.  SEC cited inadequate document production and refusal to provide essential witnesses. Binance.US’s inconsistent statements regarding wallet custody software Ceffu and fund management raise concerns about compliance with previous agreements. Description The United States Securities and Exchange Commission (SEC) has raised concerns about Binance.US’s lack of cooperation in the ongoing investigation into the cryptocurrency exchange. In a court filing dated September 14, the SEC criticized Binance.US’s holding company, BAM, for its limited document production and unresponsive behavior. SEC’s frustration with document production The SEC expressed its … Read more The United States Securities and Exchange Commission (SEC) has raised concerns about Binance.US’s lack of cooperation in the ongoing investigation into the cryptocurrency exchange. In a court filing dated September 14, the SEC criticized Binance.US’s holding company, BAM, for its limited document production and unresponsive behavior. SEC’s frustration with document production The SEC expressed its frustration with BAM’s document production during the discovery process. According to the court filing, BAM has provided only 220 documents, many of which are…

TL;DR Breakdown F2Pool, a cryptocurrency mining pool, returned a record-breaking transaction fee of 20 BTC (about $510,000) to financial technology firm Paxos, correcting an error caused by a transaction bug. The crypto community engaged in debates over the ethics of retaining or refunding the inflated fees, with mixed opinions revealed in a public poll. Paxos took full responsibility for the mistake, which only affected their corporate operations, and is working on recovering the fee through Bitcoin mining mechanisms. Description Cryptocurrency mining pool F2Pool rectifies a $510,000 transaction fee error, refunding the astronomical amount to financial technology firm Paxos. The blunder and its immediate resolution F2Pool, a leading name in cryptocurrency mining, returned a mistakenly inflated transaction fee of 20 BTC, approximately $510,000, to Paxos. The financial technology company had intended to transfer a minuscule … Read more Cryptocurrency mining pool F2Pool rectifies a $510,000 transaction fee error, refunding the astronomical amount to financial technology firm Paxos. The blunder and its immediate resolution F2Pool, a leading name in cryptocurrency mining, returned a mistakenly inflated transaction fee of 20 BTC, approximately $510,000,…

TL;DR Breakdown Rune Christensen believes decentralized stablecoins, like Dai, will dominate the market if the crypto sector realizes its potential with centralized versions. Christensen’s vision includes gamifying the crypto experience making protocols more engaging, especially for younger users. Description The rapid growth of the cryptocurrency market has given rise to a plethora of coins and tokens, but it’s the stablecoins that are capturing significant attention. As the name suggests, stablecoins are designed to have a stable value, often pegged to traditional currencies or assets. Rune Christensen, the co-founder of MakerDAO, one of the most … Read more The rapid growth of the cryptocurrency market has given rise to a plethora of coins and tokens, but it’s the stablecoins that are capturing significant attention. As the name suggests, stablecoins are designed to have a stable value, often pegged to traditional currencies or assets. Rune Christensen, the co-founder of MakerDAO, one of the most significant DeFi projects, recently discussed the future of these decentralized stablecoins in the crypto ecosystem. Contents hide 1 The rise of decentralized stablecoins 2 MakerDAO’s innovative approach to…