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Blockchain security firm PeckShield says the funds are sent to Binance through a cross-chain bridge. Developers behind Cubiswap Finance appeared to have withdrawn around 2,000 BNB (around $425,000) from the protocol, causing its native token CUBI to lose over 60% in value. According to a blockchain security firm PeckShield, the Cubiswap protocol deployer (0x4b87…ffb5) first moved the funds a month ago, sending them to an unknown address (0x0477…8c4f). A few days ago, these funds were bridged from opBNB to BNB Chain (formerly Binance Smart Chain) and deposited into Binance. #PeckShieldAlert #slippage $CUBI @CUBISWAP on #opBNB has dropped by -65%. The address 0x0477…8c4f received ~2K $BNB from the @CUBISWAP deployer 0x4b87…ffb5 a month ago and the address bridged 1,000 $BNB to #BNBChain ~17 days ago and then deposited them into #Binance. The… pic.twitter.com/C2Yab61huE — PeckShieldAlert (@PeckShieldAlert) October 16, 2023 You might also like: opBNB la...

The orders to pass the pending motion come just a day before the key hearing between Binance and the SEC on Oct. 12. United States District Judge Amy Berman Jackson of the District Court for the District of Columbia has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchange Binance ahead of a crucial hearing. Among the key orders, Jackson cleared an amicus brief filed by USD Coin (USDC) issuer Circle before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs. Binance lawsuit, arguing that assets pegged to the U.S. dollar, such as USDC, are not securities. Circle, at the time, Circle said that buyers of these stablecoins do not expect any profit from acquiring them. According to Circle, payment stablecoins do not have the “ Features of an investment contract” on their own. Jackson accepted Circle as amicus curiae in support of neither Bi...

Hong Kong police have issued a warning concerning a recent Binance phishing scam targeting Hong Kong users of the platform. Hong Kong ’s police force has raised the alarm after 11 Hong Kong -based Binance customers were targeted in a wave of phishing scams sent through text messages. Hong Kong police warned users of the scam in an Oct. 9 post to its Facebook page dubbed “CyberDefender.” “Recently, fraudsters posing as Binance sent text messages claiming that users must click the link in the message to verify their identity details before a deadline, otherwise their account would be deactivated.” Police said that once users clicked the link and supposedly “verified” their personal details, hackers were then able to gain full access to their Binance accounts, where they proceeded to steal all of the assets contained within the users ’ wallets. According to the post, the phishing scheme has seen 11 Hong Kong -based Binance customers report combined losses of more than $446,000 (3....

The U.S. Securities and Exchange Commission (SEC) has accused Binance US of non-cooperation in a probe into alleged federal securities law violations. The SEC has raised concerns over using Ceffu, a custody service facilitated by the international arm of Binance. They believe this breaches a prior agreement designed to prevent the transfer of assets abroad. The holding company of Binance US, BAM, has reportedly been less than cooperative during the discovery phase, the process where evidence is gathered. According to the SEC, BAM has only submitted around 220 documents, many of which are either undated or unsigned and, in some cases, are incomprehensible screenshots. Moreover, the company has been reluctant to present vital witnesses for deposition, consenting to only four depositions of individuals they have selected as suitable. “It has responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordinary course of...

In a recent Twitter Space session, Binance CEO Changpeng Zhao, CZ, predict ed the upcoming bitcoin bull market. During the ask-me-anything session on July 5, CZ addressed various topics, including BlackRock’s entry into the cryptocurrency market, regulatory actions against Binance, and his forecast for the upcoming bull run. https://t.co/OENe6Ul4ag — Binance (@binance) July 5, 2023 He noted that bitcoin tends to follow four-year cycles and highlighted the significance of the next Bitcoin halving event in 2024. While CZ acknowledged that he couldn’t predict the future with certainty, he anticipated that the next bull market would start around 2025. CZ also commented on BlackRock’s entry into the spot Bitcoin exchange-traded fund (ETF) space. He viewed this development as highly beneficial for the crypto industry. Despite concerns about the compatibility of traditional finance companies with Bitcoin’s decentralized nature, CZ downplayed the risk of ...

U.K. lawmakers wish to unite global efforts to safeguard the masses against bad actors who misuse artificial intelligence, or AI. The U.K.’s House of Commons issued a report acknowledging the potential benefits of AI, such as enhanced productivity and innovative consumer products. However, regulators also highlight the challenges associated with the burgeoning tech, including privacy issues. The AI industry is evolving rapidly, particularly with the emergence of large language models like ChatGPT. These models have transformed AI into a versatile and ubiquitous technology. The report notes that the rapid development of AI has made governance and regulation discussions more urgent. Policymakers are called upon to ensure that AI’s positive impact can be harnessed while safeguarding against potential harm. Twelve key challenges in AI governance are identified, ranging from addressing bias and privacy issues to managing employment disruption due to AI. The report recognizes th...

This week's Crypto Biz explores the latest on Binance's global on-ramps and off-ramps, Coinbase-Circle re -alignment , Shopify's take on USDC and China's blockchain data exchange. Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States. In the latest developments, Coinbase and Circle decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly as an anticipation of upcoming legislation coming from the U.S. Congress. A legal alternative to remaining operational was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as its new “base asset” for all transactions, allowing a path for users to transact in U.S. dollars while possibly sidestepping potential re...

Binance’s BNB Chain is set for two upgrades that are aimed at improving finality of the network and compatibility with other EVM blockchains. Binance’s proprietary BNB Smart Chain (BSC) is set to undergo two hard forks through August 2023 that are aimed at reducing the possibility of a malicious block chain reorganization and increasing the compatibility with other EVM block chain networks. The Plato and Hertz upgrades are scheduled for Aug. 10 and Aug. 30 respectively, following extensive testing. The Plato upgrade, which has already taken place, introduces BEP-126. The latest evolution proposal implements a fast finality mechanism that is expected to rule out the ability for blocks to be reverted. The Plato upgrade and hard fork was carried out Aug. 10 at block height 30724096. Source: bscscan.com Arno Bauer, Senior Solution Architect at BNB Chain, unpacked the specifics of the network upgrades in conversation with Cointelegraph. The fast finality mechanism is expected to reduce...

An Ontario resident lost $35,000 worth of bitcoin to scammers who sold them fake firewall software while pretending to work for Silicon Valley giant Microsoft. As reported by CTV News, the scam began with a pop-up on the unnamed victim’s computer that told them to call the number shown to update their virus protection. They did as instructed and were connected to a scammer who claimed to work for the software company and subsequently persuaded them to install what they believed to be a new firewall. The following day, the Adelaide Metcalfe resident received a call from another supposed Microsoft employee who claimed to be checking up on their newly-installed software. During the call, the ’employee’ gained remote access to the target’s computer and banking details . Canadian police now use Chainalysis to track and return stolen crypto Read more: Crypto whales targeted in wave of home invasions near Vancouver They then explained that a deposit had accidentall...

Welcome to the 128th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 39 mins ago Arkham Intelligence, Reserve, and the Leverage Research ‘cult’ https://t.co/ioMeG2Onro — Protos (@Protos) July 28, 2023 Starting off with out latest investigation. 39 mins ago A number of stablepools (alETH/msETH/pETH) using Vyper 0.2.15 have been exploited as a result of a malfunctioning reentrancy lock. We are assessing the situation and will update the community as things develop. Other pools are safe. https://t.co/eWy2d3cDDj — Curve Finance (@CurveFinance) July 30, 2023 Just in 25 mins ago Couple more vyper exploits on BNB Chain pic.twitter....

Troubles for Binance continue to mount as the crypto exchange and related firms face challenges after the US Securities and Exchange Commission lawsuit. Nigeria SEC Bans Binance In the Country Nigeria’s Securities and Exchange Commission has declared Binance’s subsidiary Binance Nigeria Limited as “illegal” and asked the exchange to cease its operations in the country. According to the statement issued by Nigeria SEC, Binance is neither registered nor regulated by the agency and its operations are “illegal” in the country. In addition, the agency ordered Binance to stop Nigeria ns from investing on the platform and warned of regulatory action against crypto exchanges. “ Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.” Recommended Articles ...

Senators Seek Probe Into Binance’s Business Practices The letter follows a previous inquiry initiated by Senators Warren, Van Hollen, and Republican Senator Roger Marshall of Kansas back in March. The senators sought information on the relationship between the Binance exchange and its US affiliate, along with requesting various financial data. At the time, Binance had stated that the two entities were separate and emphasized its commitment to compliance. However, the SEC’s complaint suggests otherwise, further casting doubt on the exchange’s claims. advertisement Read More: Money Trail of Binance Shows $70 Billion Moved Through Signature & Silvergate Banks Notably, this is not the first time concerns regarding the independence of Binance and Binance’s US arm came to light. State regulators in Texas had previously raised similar apprehensions about the relationship between the two entities. SEC Lawsuit Raises Concerns Over Bina...

Astute investors are increasingly turning their attention to meme coins, considering them to be the catalyst for the forthcoming bullish trend.  Following the tremendous success of ‘Pepe ($PEPE),’ which recorded an unprecedented upward trajectory, surpassing a staggering US$1 billion market capitalization within a mere month, the spotlight has now shifted to the remarkable concept of ‘MEMEVENGERS ($MMVG).’  This coin, accompanied by an array of diverse meme coins, continues to captivate the imagination of market participants. advertisement ‘MEMEVENGERS’ stands as the pioneering meme coin ensemble, comprising a total of seven highly popular meme coins.  With influential figures such as Pepe, the forerunner of the meme coin phenomenon, as well as Dogecoin ($DOGE) and other leading meme coins, this innovative collection has taken the meme market by storm. Drawing inspiration from Marvel’s ‘Avengers,...

Now, the community has two questions for lead developer Shytoshi Kusama, when Shibarium mainnet will be released and when Binance will list BONE? advertisement Binance Can List BONE on Shytoshi Kusama’s Request The Shiba Inu team confirmed BONE as the only gas token for Shibarium transactions and a reward token for validators and delegators. Shibarium will offer the benefits of scalability, faster transaction times, lower fees, and an expanded development framework. With the Shibarium mainnet launch expected by the year’s end, most things around the Shibarium blockchain will involve BONE token. In fact, validators will lock a certain number of BONE tokens to provide security and stake BONE through staking management contracts on the Ethereum mainnet. Moreover, delegators will stake BONE into validator nodes responsible for validating transactions. The BONE token is available since July 2021 for governance and now for Shibarium . Also Read: Bit...