Crypto Exchange News & Updates

Peck Shield: Mixin Network Suffers Loss of $140 Million in Cryptocurrency Assets

Peck Shields released image reveals that Mixin Network has suffered a total loss of $140 million in cryptocurrency assets. This includes approximately $94.48 million worth of ETH, $23.55 million worth of DAI, and $23.30 million worth of BTC.　　In a previous announcement, Mixin Network stated that on the early morning of September 23rd, Hong Kong time, the database of Mixin Networks cloud service provider was compromised in a hacker attack, resulting in the loss of some assets on the mainnet. Mixin Network has engaged Google and the blockchain security company, SlowMist, to assist in the investigation. Preliminary estimates indicate the involvement of approximately $200 million. Mixin Networks deposit and withdrawal services have been temporarily suspended. These services will be reopened once the vulnerability is identified, confirmed, and fixed, following discussions and consensus among all nodes. During this period, transfers remain unaffected.　　

2023-09-26Deep Dive

JPEX Tracking: Accumulated HKD 167 Million Transferred Out, Dividend Scheme at Risk

The virtual currency platform JPEX is embroiled in a conspiracy fraud case, with the Hong Kong police receiving reports from a total of 2,265 individuals, bringing the total amount involved to approximately HKD 1.4 billion.　　Hong Kong Web3.0 Association member and Legislative Council member Jiezhuang Wu cited data from more than 50,000 hot wallet blockchain addresses closely associated with JPEX. The analysis revealed that since last Wednesday when the Securities and Futures Commission issued a warning against JPEX for operating without a license, at least virtual currencies equivalent to around HKD 167 million have been transferred out of the JPEX platform as of September 22nd. This includes approximately HKD 2.63 million worth of BTC, HKD 20.8 million worth of ETH, HKD 13.6 million worth of USDT, and over HKD 100 million worth of USDC. Most of these transfers occurred on Monday or later.　　Some virtual currency fraud analysis consultants believe that JPEX significantly increased its transaction fees over the past week, and they suspect that the funds being withdrawn are not from retail investors. The unusual flow of funds may be orchestrated by “whales” or large players. It is understood that the police will investigate the flow of funds, collaborate with financial

2023-09-25Deep Dive

Arkham: Coinbase Holds $25 Billion in Bitcoin Reserves, Emerging as the Largest Bitcoin Holding Enti

The on-chain data platform Arkham has posted an update on the X platform, confirming that Coinbases addresses on the blockchain hold approximately 1 million Bitcoin reserves, valued at $25 billion USD. This development solidifies Coinbase as the worlds largest Bitcoin holding entity, with nearly 5% of the total Bitcoin supply, approaching the quantity believed to be held by Satoshi Nakamoto.　　Arkham further states that it has identified and tagged over 36 million Bitcoin deposit and holding addresses associated with Coinbase, with the largest cold wallet holding around 10,000 BTC. According to the latest financial data, Coinbase may still possess thousands of Bitcoin that have not yet been tagged or identified.　　

2023-09-25Deep Dive

Linear Finance: LUSD Under Attack, Do Not Purchase or Trade

Yesterday, Linear Finance posted on the X platform stating that LUSD appears to have suffered an attack. During the teams investigation, they advised against purchasing or trading LUSD. Liquidation has been temporarily paused, and user accounts are not at risk.　　Several hours later, Linear Finance issued a statement indicating that due to a contract vulnerability, all LUSD liquidity on PancakeSwap and Ascendex had been drained, causing the price of LUSD to plummet to zero. The attacker was able to mint LAAVE tokens without limit and traded them for LUSD on Linear Exchange, subsequently selling them on PancakeSwap and Ascendex.　　To protect the protocol, assets, and users, the Linear team has taken the following measures:　　Suspended all protocol contracts that allow token minting, burning, or trading.　　Disabled the Linear bridge contract for LUSD.　　Hired a professional team to track down the attacker and pursue legal action.　　Shared information about wallets involved in the attack with major exchanges and authorities.　　

2023-09-22Deep Dive

Tether Responds to WSJ's Questions Regarding "Lending Stablecoins Again"

The Wall Street Journal reports that Tether has once again lent its stablecoins to customers, despite the companys previous announcement less than a year ago that it would gradually reduce this practice.　　In Tethers latest quarterly financial report, they stated that as of June 30th, their reserve assets included $5.5 billion in loans, an increase from the previous quarters $5.3 billion. Tether spokesperson Alex Welch confirmed that the company has issued new loans.　　Welch stated, “Tether received short-term loan requests from several long-term customer relationships in the second quarter of 2023, and we decided to fulfill these requests. The loans will be canceled in 2024. The companys goal is to prevent customers from experiencing a significant liquidity drain or selling collateral at potentially unfavorable prices to avoid losses” (WSJ).　　In December of last year, Tether had announced its plan to reduce collateral loans in its reserve to zero by 2023.　　Tether has issued an official response to the Wall Street Journals report regarding its lending of stablecoins. The article states that the banking industry is facing significant challenges and has been proven incapable of keeping up with the constantly changing global financial markets—a fact repeatedly overlooked by The Wall Street Journal in its attempts

2023-09-22Deep Dive

CoinEx Resumes Cryptocurrency Deposit and Withdrawal Services

According to an official announcement from CoinEx, the cryptocurrency exchange has announced the resumption of cryptocurrency deposit and withdrawal services. Its important to note that users are required to generate new deposit addresses, as sending assets to old addresses may result in loss.　　Previously, CoinEx exchange experienced a security breach on September 12th, where tokens valued at over $70 million were stolen due to a private key leak. The exchange has stated that the stolen assets represent only a small portion of their total managed assets, and affected users will receive full compensation.　　According to on-chain tracking by MistTrack, the CoinEx attackers address has over the past 24 hours converted SOL to ETH and transferred it to platforms like KuCoin:　　The CoinEx attacker, within the last 24 hours, used the Wormhole Bridge to bridge SOL from Solana to Ethereum addresses (0x602...397) and (0x938...4d8). Subsequently, the attacker converted SOL to ETH through ParaSwap, KyberSwap, and Uniswap.　　Address (0x938...4d8) transferred all 150 ETH to platforms such as KuCoin, Sideshift, and ChangeNOW, while address (0x602...397) moved 60 ETH to KuCoin.　　The attacker also converted SOL to ETH through Mayan Swap and bridged it from Solana to Ethereum address (0x413...54F).　　Presently, the attackers address (G3ud...t1kq) still holds 40,399.9 SOL, and

2023-09-22Deep Dive

Optimism: Has Conducted the Sale of 116 Million OP Tokens Valued at $162.4 Million to Seven Buyers.

Optimism has released a statement indicating that they have conducted a private token sale of 1.16 billion OP tokens, equivalent to approximately $162.4 million, distributed among seven purchasers for the purposes of fund management. These tokens come with a two-year lock-up period during which buyers can delegate the tokens to unrelated third parties for governance participation.　　Optimism also mentioned that these tokens are sourced from the unallocated portion of the OP token treasury and are part of the original operational budget of the foundation, constituting 30% of the initial supply. They further clarified that there will be multiple OP token transactions starting from today, with the aim of providing the community with advance notice, as these transactions are all part of the planned activities.　　

2023-09-21Deep Dive

SFC: JPEX Has Never Communicated Regarding Licensing Matters

The Hong Kong Securities and Futures Commission (SFC) has issued a statement regarding JPEX. JPEX claims to be a virtual asset trading platform and asserts that it is not regulated. Since March 2022, the SFC has been closely monitoring the platform and conducting inquiries into allegations of false and misleading statements and unlicensed activities. Due to JPEXs uncooperative stance and failure to provide substantive responses to the SFCs requests, the SFC subsequently included JPEX in its list of unlicensed companies and suspicious websites in July 2022 (Note 2).　　The confidential communications disclosed on JPEXs website are part of the inquiries and investigations conducted by the SFC against JPEX. The SFC confirms that JPEX has never contacted the SFC regarding the possibility of applying for a license, and no entity under the JPEX Group has been granted a license by the SFC or applied for a license to operate a virtual asset trading platform in Hong Kong. Therefore, there has been no communication between the SFC and JPEX regarding licensing matters.　　The information subsequently obtained by the SFC raised suspicions of fraudulent activities, leading to a referral to the police for further handling. As the investigation is ongoing, the SFC cannot provide further

2023-09-21Deep Dive

aelf Establishes Global Center in Singapore to Support the Growth of the Web3 Developer Ecosystem

Layer1 blockchain aelf has established a global center in Singapore to support the growth of Web3 developers ecosystem in the Asia-Pacific region and beyond. The initiatives include:　　Introduction of TMRWDAO to foster cross-industry sharing and collaboration.　　Launching the aelevate program, providing up to $150,000 in funding to Web2 game studios to facilitate the integration of their gaming experiences with Web3.　　Unveiling a $50 million venture capital fund called aelf Ventures.　　In previous announcements, Layer1 blockchain aelf disclosed the formation of the aelf Ventures division and the launch of a $50 million aelf ecosystem fund, with investment focus spanning areas such as gaming, DeFi, NFTs, and public goods, among others.　　

2023-09-21Deep Dive

U.S. SEC Accuses Binance.US Of Suspicious $250 Million Fund Flows In Ongoing Legal Battle

In a recent development in the ongoing legal battle between Binance.US and the U.S. Securities and Exchange Commission (SEC), court documents reveal that the SEC has raised concerns over suspicious fund flows involving Binance, as reported by Decrypt.　　According to the court documents made public, the SEC pointed out that on June 6, Binance CEO Changpeng Zhao withdrew $250 million from Binance.US Subsidiary BAM Management and subsequently transferred it to BAM Trading, the entity behind Binance.US. Additionally, the transaction included a $183 million loan from BUSD issuer Paxos Trust Company to BAM Trading.　　However, Binance.USs legal team responded by stating that BAM Management US Holdings had issued a $250 million convertible note to Zhao in December. Zhao used BUSD to purchase the note, with $183 million sent to Paxos Trust Company to convert BUSD into USD, which was then transferred to BAM Trading in January 2023.　　The SEC had previously accused Binance.US of non-cooperation with the investigation and raised questions about its use of custody services provided by Ceffu, allegedly violating previous agreements designed to prevent asset flow overseas.　　Binance.US responded by asserting that concerns regarding Ceffu were baseless, and the SECs request for more documents was seen as an attempt at evidence phishing.

2023-09-20Deep Dive

...