Crypto Guides, Knowledge & Insights

Alphapo Hot Wallet Hacked, Stolen Funds Reach $23 Million

Blockchain security firm Hacken has tweeted that a total of $23 million was stolen from Alphapos hot wallet. Out of this amount, $11 million was transferred to BTC via the Avalanche Bridge, while the remaining funds are still located in the following attackers addresses:　　0x040a96659fd7118259EBCD547771f6eCb9580d17　　TJF7mdFxDuHB4tb9hoyR4SCpKxk7gr23ym　　The stolen assets include 100.2 million FTN tokens, 6 million USDT tokens, 2500 ETH tokens, 108,000 USDC tokens, 118 million TRX tokens, 430,000 TFL tokens, and 1700 DAI tokens.　　Earlier today, according to ZachXBT monitoring, Alphapos hot wallet was compromised, resulting in a theft of $23 million. Alphapos customer, HypeDrop, has already disabled withdrawal functions. The stolen funds were initially transferred across different blockchains, including Ethereum, Avalanche, and BTC networks.　　In addition, CertiK analysis suggests that the current evidence points to the event being caused by a private key leak. This incident is part of a larger trend, with a total loss of $214 million due to private key leaks in 2023.　　Alphapo is a payment processor that offers instant transactions for over 30 different digital assets and a range of fiat currency balances. The company is most renowned as a cryptocurrency gateway for many gambling platforms, including HypeDrop, Ignition, and Bovada.　　

2023-07-24Deep Dive

Bitcoin Wallet Awakens After 11 Years, Transfers $31M

The dormant address acquired the 1,037 BTC in April 2012 when Bitcoins price was only $4.92.　　Over 55% of BTC has not moved in over two years, indicating long-term investment.　　Bitcoin wallet that has been inactive for over 11 years recently transferred its entire stash of over 1,037 BTC, which is currently worth $31 million.　　The transfer was made at a Bitcoin price of $29,956 and was recorded at block height 799701 on July 22, according to BitInfoCharts. Interestingly, the wallet address that received the transfer seems to be a fresh one, indicating that the owner may be a new player in the cryptocurrency market.　　The dormant address acquired the 1,037 BTC back in April 2012 when BTC‘s price was only $4.92. At the time, the stash was only worth around $5,108. This means that the owner has benefited greatly from the surge in Bitcoin’s price over the years.　　The US government has also been involved in some significant cryptocurrency transfers recently. On July 12, it transferred out nearly 10,000 BTC, worth $299 million, in a series of transactions related to the Silk Road seizure. It is not yet clear whether the transactions were sent to cryptocurrency exchanges or if they remain in the custody

2023-07-24Deep Dive

Ripple CEO Brad Garlinghouse Blames SEC for Crypto Turmoil

Ripple CEO Brad Garlinghouse criticizes SECs “regulation by enforcement” approach, stating that it has hurt retail investors and advocating for clear rules through legislation.　　SEC hinted at appealing the split-decision ruling against Ripple Labs, where the regulator claimed that retail sales of XRP on exchanges didnt constitute the legal definition of a security.　　Ripple‘s CEO and chief legal officer’s comments highlight the need for clarity and regulatory guidelines in the crypto industry to ensure the protection of retail investors.　　Ripple CEO Brad Garlinghouse has expressed his strong disapproval of the United States Securities and Exchange Commission (SEC) over its recent comments regarding a possible appeal to its case against Ripple.　　Garlinghouse took to Twitter on July 23 to criticize the SEC for its “regulation by enforcement” approach, which he argues has only hurt retail investors. He also stated that the SEC created this mess by proclaiming to be the crypto cop but having no legal jurisdiction. Moreover, he added that the SECs enforcement actions have left consumers holding the bag in bankruptcy court while they hold press conferences.　　Garlinghouse‘s criticism came after the SEC hinted at appealing the split-decision ruling against Ripple Labs, where the regulator claimed that retail sales of XRP on exchanges didn’t

2023-07-24Deep Dive

Large Shiba Inu Holders Witness Jaw-Dropping 923% Surge in SHIB Outflows Overnight

Large Shiba Inu holders experience a massive 923% surge in outflows of SHIB tokens in 24 hours, raising questions about potential coordinated efforts.　　Concentration of SHIB supply in a few wallets sparks concerns about the impact of major holders on the tokens market and prompts discussions on transparency and decentralization in the crypto space.　　In a surprising turn of events, large holders of Shiba Inu (SHIB) tokens experienced a remarkable 923% surge in outflows within a span of 24 hours.　　On-chain data revealed that the SHIB tokens moved from 268 million to a staggering 2.47 trillion, leaving experts puzzled over the sudden spike. Notably, this surge occurred despite the Shiba Inu tokens price showing no extraordinary fluctuations during the same period.　　While some tokens were flowing back into the wallets, the incoming amounts were relatively smaller in comparison to the massive outflows. The most intriguing aspect of this development is the fact that the majority of the Shiba Inu token supply, an astounding 636.42 trillion SHIB (including the burn address), is concentrated in whale wallets. Many of these large wallets belong to centralized exchanges hot wallets, which has led to speculation about orchestrated efforts by centralized entities.　　The coordinated movement of tokens between these wallets

2023-07-24Deep Dive

Decentralized Ethereum Staking Infrastructure SSV Network to Conduct Mainnet Phase 2 Launch Conferen

Decentralized Ethereum staking infrastructure SSV Network tweeted that it will conduct the mainnet phase 2 “limited launch” release conference on August 1st. The second phase will introduce verified operators, bringing exponential SSV network expansion.　　According to previous reports, the decentralized Ethereum staking infrastructure SSV.Network has released a mainnet deployment roadmap, consisting of four phases: pre-launch, limited launch, launch, and permissionless launch. The team is planning to initiate the first phase of the mainnet launch in the early second quarter of 2023, with the permissionless launch expected to be ready by the fourth quarter of 2023.　　SSV.Network is a fully decentralized open-source Ethereum staking protocol developed jointly by the Ethereum secret shared validator network Obol and the non-custodial Ethereum 2.0 staking protocol Blox. SSV allows for the secure splitting of validator keys among untrusted nodes or operators, while maintaining distributed control and activity of Ethereum validators, providing a secure and robust method for ETH staking.　　

2023-07-24Deep Dive

OP Valued at Approximately $37.69 Million and YGG Valued at Approximately $2.17 Million to Unlock Th

Token Unlocks data shows that this week, 7 cryptocurrency projects will conduct token unlocks, with a total value of approximately 43.72 million USD.　　Acala token ACA will unlock 4.66 million tokens (approximately 320,000 USD) on July 25th at 08:00 UTC, accounting for 0.29% of the total supply.　　Yield Guild Games token YGG will unlock 13.02 million tokens (approximately 2.17 million USD) on July 27th at 22:00 UTC, accounting for 1.302% of the total supply.　　SingularityNET token AGIX will unlock 9.97 million tokens (approximately 2.31 million USD) on July 28th at 08:00 UTC, accounting for 0.498% of the total supply.　　Galxe token GAL will unlock 586,670 tokens (approximately 750,000 USD) on July 29th at 20:00 UTC, accounting for 0.29% of the total supply.　　Optimism token OP will unlock 24.16 million tokens (approximately 37.69 million USD) on July 30th at 12:00 UTC, accounting for 0.56% of the total supply.　　　　

2023-07-24Deep Dive

Robert F. Kennedy Jr. Reveals Desire To Back Dollar With Bitcoin And Eliminate Crypto Tax

Presidential candidate Robert F. Kennedy Jr. proposes backing the U.S. dollar with Bitcoin to restore its strength and promote financial stability.　　Kennedys plan includes gradually allocating a percentage of T-bills to be backed by hard currency, such as gold, silver, platinum, or Bitcoin.　　He also aims to eliminate capital gains taxes on BTC earnings, encourage innovation and investment, and protect citizen privacy.　　Democratic presidential candidate Robert F. Kennedy Jr. has put forth a groundbreaking economic proposal that aims to back the U.S. dollar with Bitcoin (BTC).　　During an event organized by the Heal-the-Divide PAC, Kennedy shared his Bitcoin-focused policies that he intends to implement if elected president. His plan includes gradually backing the dollar with Bitcoin and eliminating capital gains taxes on earnings from the cryptocurrency. The goal is to restore the strength of the dollar and promote financial stability in the United States.　　Kennedys proposal centers around a return to a solid currency foundation in America. He outlined his plan to start with a small allocation, perhaps 1% of issued Treasury bills, backed by hard assets such as gold, silver, platinum, or Bitcoin. Depending on the success of this initial phase, he intends to gradually increase the allocation over time.　　“My plan would be to

2023-07-21Deep Dive

Uniswap Founder Regain Control Of Twitter After 5 Hours Hacked

The Uniswap founders Twitter account has regained control after a few hours of being hacked.　　Previously, the account was hacked, and many tweets were posted containing links to phishing websites.　　During the hack, no damage reports were recorded.　　According to the official announcement, the Twitter account of Uniswap founder Hayden Adams has regained control, and at the same time, the related scam tweets have been deleted.　　Hayden Adams expressed gratitude to everyone who assisted in this incident and the details of the incident will be revealed in the future.　　Earlier this morning, it was reported that the Twitter account of Uniswap founder Hayden Adams with more than 254,000 followers, had been hacked and that many of the tweets sent by this account contained links to phishing websites.　　Then a suspicious tweet sent from Adams account urged UniswapX users to check if they were eligible for the donated $UNI token by visiting a website hosted in Russia. That site was registered on the day of the hack, one Twitter user noted.　　Members of Crypto Twitter were quick to identify and warn others of a promoted scam. Therefore, during the hacking process, no damage was recorded from the user.　　Upon receiving the information, Uniswap Labs issued a warning about the

2023-07-21Deep Dive

FTX Sues SBF And Former Executives To Recover $1 Billion They Embezzled

FTX Trading Ltd sued the SBF founder and other former executives on Thursday to recover $1 billion.　　The defendants include Caroline Ellison, Sam Bankman-Fried (SBF), Gary Wang, and Nishad Singh.　　The defendants embezzled money to buy luxury apartments, political donations, and speculative investments and carried out one of the largest financial frauds in history.　　According to Reuters, FTX Trading Ltd sued the SBF founder and other former executives on Thursday, seeking to recover more than $1 billion they allegedly embezzled before FTXs bankruptcy.　　Defendants in the lawsuit filed in Delaware bankruptcy court include former CEO of hedge fund Alameda Research Caroline Ellison, former FTX chief technical officer Gary Wang, and former FTX chief technical officer Nishad Singh. These are all key names and were an effective arm of SBF before the second-largest cryptocurrency empire collapsed.　　This exchange said the defendants continued to embezzle funds to purchase luxury apartments, political donations, and speculative investments and conduct “one of the largest financial frauds in history.”,　　FTX said the fraudulent transfers occurred between February 2020 and November 2022, when it filed for Chapter 11 bankruptcy protection.　　These transfers may be reversed or “avoided” under US bankruptcy or Delaware law. US prosecutors say SBF was the mastermind behind a scam that

2023-07-21Deep Dive

The Wall Street Journal: An Investor Group Plans to Acquire CoinDesk for Approximately $125 Million,

According to sources cited by The Wall Street Journal, an investor group led by blockchain investors Matthew Roszak and Peter Vesenes is close to acquiring the cryptocurrency media platform CoinDesk for approximately $125 million. The deal is in its final negotiation stage.　　CoinDesk is currently owned by Digital Currency Group (DCG), which acquired CoinDesk in 2016. In January of this year, CoinDesks CEO, Kevin Worth, mentioned that the company may seek full or partial sale as it explores funding options for its future growth. Over the past few months, CoinDesk has received “many inquiries about potential investments.” Any sale would likely strengthen DCGs financial position as the company aims to rescue its Genesis unit from bankruptcy.　　Earlier this month, Digital Currency Group (DCG) was sued by Gemini, the largest creditor of Genesis, for failing to reach an agreement on the restructuring plan for Genesis. The two companies were unable to come to a consensus regarding the terms of the reorganization agreement.　　

2023-07-21Deep Dive

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