BitMEX Users Seek 623 BTC in Liquidation Fraud Suit

BitMEX is facing a class action lawsuit accusing the crypto derivatives platform of fraudulently engineering customer liquidations to seize traders Bitcoin collateral.  On Thursday, BKX Services Inc. and David Namdar filed the complaint in the US District Court for the Southern District of New York. The plaintiffs allege they lost a combined 622.66 BTC through forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar alleging losses exceeding 316.85 BTC.  The lawsuit revives long-running allegations about the platforms internal trading operations and liquidation engine and comes just as the exchange is preparing to close in September.  “BitMEX deliberately developed a system that profited from the liquidations,” the plaintiffs alleged. The complaint claimed that an internal trading desk had access to private customer information and could continue trading during server freezes that prevented ordinary users from accessing or closing their positions.  Cointelegraph reached out to BitMEX for comment but did not receive a response before publication.  BitMEX users seek Bitcoin return under fraud claims  According to the filing, BitMEX allowed customers to use leverage of up to 100 times their collateral, then automatically liquidated positions while collateral was still allegedly worth twice the losses incurred.  The remaining BTC was placed into the platforms

07-24انڈسٹری

Morning briefing: The US treasury yields are moving

The Dollar Index holds strong above 101 while the Euro has dipped below 1.14, moving as per its intrinsic near-term trend.Euro can soon target 1.1350-1.13. The ECB kept rates unchanged yesterday but has high scope for a rate hike in September. USDJPY continues to rally, targeting 164.50-165 while Aussie and Pound have declined sharply as expected on Dollar strength triggered by the rally in Brent crude price to 102. EURINR looks bullish towards 110.50-111 while USDCNY can trade within 6.75-6.7850 for some time. USDINR is bullish towards 97.  The US Treasury Yields are moving up as expected but at a faster pace.Surge in oil price is pushing the yields higher. The yields can rise further from here. The German Yields are inching up. The bullish view is intact. They have room to rise further. The ECB kept the rates unchanged in its meeting yesterday as expected. A rate hike in September is widely expected now. The 10Yr GoI is moving up. It can rise further from here and then can resume its broader downtrend.  Global equities have turned weaker amid escalating tensions in the Middle East.Dow is attempting to break below 52000 and could decline towards 51500-51000 if the breakdown is sustained.

07-24انڈسٹری

Ripple Brings RLUSD to Notabene's Stablecoin Platform

Ripple has made an investment in Notabene, a regulated on-chain transaction network, according to a Thursday announcement. The tie-up will make it possible to expand RLUSDs usage in institutional stablecoin payments.  Merchant Services & Payment Systems  Under the partnership, RLUSD will be integrated into Notabene Flow, which is Notabenes B2B stablecoin payments platform.  The companies will also explore how Notabenes transaction authorization and compliance infrastructure can complement Ripple Payments.  Notabene boasts a rather impressive network of 2,300 institutions across over 100 jurisdictions.  The company supports more than $2 trillion in annualized transaction volume and provides tools for compliance, counterparty verification, and transaction authorization.  Part of mainstream finance  The collaboration comes as financial institutions increasingly explore stablecoins for payments. However, they keep facing challenges around regulatory requirements, risk management, and so on. Notabenes infrastructure is designed to address these issues.  Jack McDonald, SVP of stablecoin at Ripple, has made it clear that the efficiency of settlement rails is not sufficient enough to make sure that stablecoins become fully mainstream. He added that more factors, such as compliance and identity verification, remain key factors for broader institutional adoption.

07-24انڈسٹری

Live markets: Bitcoin slides as stocks slump on Iran war expansion, AI spending concern

Intel jumps 8% as revenue tops estimates on AI-driven demand  Chipmaker Intel (INTC) rose about 8% in after-hours trading after reporting second-quarter revenue that beat expectations, helped by strong demand for AI computing and data center chips.  The semiconductor giant posted $16.1 billion in revenue, up 25% from a year earlier, marking its fastest quarterly growth in more than 15 years. Adjusted earnings came in at $0.42 per share, while revenue was driven by a 59% jump in the companys Data Center and AI business.  CEO Lip-Bu Tan said AI demand continues to fuel growth across Intels processor, foundry and advanced packaging businesses.  Intel also issued an upbeat outlook for the current quarter, forecasting $15.8 billion to $16.8 billion in revenue and adjusted earnings of $0.38 per share.  The strong report eased sentiment in tech stocks after a bruising session. Nasdaq 100 futures rebounded from the lows, trimming losses to about 1.6%.

07-24انڈسٹری

Robinhood CEO Vlad Tenev's X account hacked to promote token amid memecoin frenzy

SummaryRobinhood said CEO Vlad Tenevs X account was hacked Thursday after it was used to promote a fake memecoin called Vladhood ($VLAD) as the “official Robinhood chain mascot.”The fraudulent post falsely claimed the token would be listed in the Robinhood app and included a blockchain wallet address before being deleted.The incident comes as Robinhoods newly launched blockchain network has rapidly attracted more than $700 million in assets and heavy speculative trading in memecoins.  Robinhood (HOOD) CEO Vlad Tenevs X account was compromised on Thursday and used to promote a fake memecoin as traders have piled into tokens on the brokerages recently-launched blockchain network.  The now-deleted post introduced a token called Vladhood ($VLAD) as the “official Robinhood chain mascot” and falsely claimed it would be listed in the Robinhood app. It included a blockchain wallet address and described the token as part of the companys focus on Robinhood Chain.  “Does Robinhood love memes? The answer is yes,” the post read.  Robinhood later confirmed the account had been hacked.  “Heads up: Our CEO Vlad Tenevs X account was compromised and posted a fake promotion for a meme coin,” the company said through its communications account on X. “Were working with X to restore access and the post

07-24انڈسٹری

Fears of AI-driven DeFi hack epidemic overstated for now — but not for long

A wave of high profile crypto hacks in April that many suspected had been orchestrated using sophisticated AI tools to identify smart contract exploits, led to fears that every DeFi protocol was suddenly at risk.  In May, Manuel Aráoz, founder of the blockchain security platform OpenZeppelin, declared “all of DeFi unsafe” following $630 million in crypto losses from exploits in April.  But even as the industry braced for the scenario of DeFi protocols falling like dominoes to agentic AI, the stream of attacks seemed to ebb.  That led Dragonfly managing partner Haseeb Qureshi to declare recently that fears of a DeFi “hackpocalypse” were a “false alarm.” He pointed out that even including Aprils big hacks, the year to date has seen “a lower rate of hacked $ per month” and that the “median hack size by year is also declining.”  So whos right? Are the fears of an AI driven hacking epidemic totally overblown, or is this just the lull before the storm?  “I think the ‘hackpocalypse’ narrative is overstated if it suggests AI has already replaced compromised keys, weak infrastructure and human error as the main causes of Web3 losses,” Stephen Ajayi, Hackens leading offensive security engineer, tells Magazine.  But he adds that doesnt mean

07-24انڈسٹری

Robinhood CEOs X account hacked in apparent memecoin scam

One or more hackers took over Robinhood CEO Vlad Tenevs X account on Thursday after a post appeared promoting a fake memecoin based on the company called “VLAD” and included what appeared to be a malicious token contract address.  The post attracted more than 175,000 views in less than 20 minutes before users identified it as a scam and warned others not to interact with the token.  Source: Vlad Tenev  Robinhood had not confirmed the hack at the time of publication. While the company has expanded aggressively into digital assets, including tokenized stocks, crypto staking, perpetual futures and Robinhood Chain, it has never launched a memecoin.  The compromise was reported by onchain data provider Onchain Lens. Robinhood Chain‘s blockchain explorer has since labeled the token’s contract address as a scam.  Hacks and scams continue to plague the crypto industry, with attackers increasingly shifting toward phishing campaigns, according to Nominis. That trend comes even as the total value stolen through crypto scams has declined in recent months.

07-24انڈسٹری

Ondo clears FINRA hurdle as ONDO price tests resistance near $0.42

Ondo Finance has secured FINRA authorizations covering tokenized NMS stocks, exchange-traded funds, mutual funds, index funds and IPO securities for U.S. investors.  SummaryOasis Pro secured FINRA permissions for tokenized stocks, funds and IPO securities in the U.S.The framework supports stablecoin settlement and access through brokers, advisers and retirement accounts.ONDO faces resistance near $0.42 while holding above all four major moving averages.  Ondo Finance announced on July 23 that its SEC-registered broker-dealer subsidiary, Oasis Pro Markets, had received the permissions needed to launch regulated tokenized securities services under SEC and FINRA oversight.  Ondo Finances SEC-registered broker-dealer subsidiary, Oasis Pro Markets, has secured regulatory authorization to offer tokenized equities and funds to U.S. investors under SEC and FINRA oversight.  According to the company, the authorizations cover over-the-counter retail transactions, underwritten primary offerings, private placements and other securities activities. Oasis Pro Markets can also operate a venue where U.S. issuers conduct primary offerings and eligible retail and institutional investors trade the resulting assets in secondary markets.  The approved framework supports settlement in fiat currencies or selected stablecoins, including transfers made directly between blockchain wallets, Ondo said. Supported products include National Market System equities, ETFs, mutual funds, index funds and securities issued through initial public offerings.  You might also like:  Cathie

07-24انڈسٹری

Ripple targets $2 trillion payment network with Notabene deal

Ripple has invested an undisclosed amount in Notabene to bring RLUSD payments to an institutional network processing more than $2 trillion in annualized transaction volume.  Notabene announced the strategic investment in a press release, adding that the two companies will work together to expand regulated stablecoin payments for businesses. Under the agreement, Notabene will integrate Ripple USD, commonly known as RLUSD, into Notabene Flow, its business-to-business stablecoin payment platform.  Once integrated, RLUSD could become available across one of the largest networks connecting regulated digital asset companies. Notabene described the collaboration as a route for institutions to use the stablecoin while meeting payment authorization and compliance requirements.  Alongside the RLUSD integration, Ripple and Notabene will examine how trusted payment authorization could support Ripple Payments. According to Notabene, its infrastructure gives regulated institutions the information needed to identify counterparties, understand payment purposes and approve transactions without adding unnecessary friction.  “The partnership is set to accelerate adoption of compliant stablecoin payments while creating a pathway for RLUSD to be integrated across one of the worlds largest institutional payment networks for digital assets,” Notabene stated.  Notabene gives RLUSD access to regulated payment counterparties  Notabene co-founder and CEO Pelle Braendgaard identified uncertainty over transaction details as a central problem for companies

07-24انڈسٹری

BitMEX shutdown gives traders 2 months to withdraw, but active positions face an earlier deadline

BitMEX, the Seychelles-based crypto exchange founded by Arthur Hayes, announced on July 23 that it will shut down at 04:00 UTC on Sept. 23. Customers now have two months to close positions and withdraw funds, and new registrations have already stopped.  The effective trading deadline arrives sooner. Under BitMEXs wind-down timetable, risk limits take effect at 04:00 UTC on Aug. 26, after which users will only be able to reduce positions.  BitMEX may force-close contracts during the wind-down and will immediately close anything still open at the Sept. 23 cutoff. The notice describes no position-transfer mechanism, so any exposure opened elsewhere would be a separate trade.  Customers who miss the closure time will still be able to log in to view balances and records and request withdrawals. However, KYC-verified accounts retaining assets will face a fee charged monthly at the greater of $50 equivalent or 1% per year on the remaining balance.  BitMEX also warned that additional reviews and blockchain constraints could delay withdrawals and said there is no priority service for moving funds.  Where BitMEX flow may move  No public data currently tracks where BitMEX customers are moving, so possible destinations can only be inferred from existing market scale, depth and product availability. A same-day

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