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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 Developers behind Cubiswap Finance appeared to have withdrawn around 2,000 BNB (around $425,000) from the protocol, causing its native token CUBI to lose over 60% in value.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...

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....

Join Our Telegram channel to stay up to date on breaking news coverage Since 2017, whenever the crypto market suffered a bearish period, crypto users had a choice to either cash out or convert their coins and tokens into stablecoins like Tether (USDT). Thanks to the fact that USD backs USDT, its price is fixed, so it does not get affected by the volatility of the bear and bull markets. Over the years, many more stablecoins were launched, but despite its past controversies, Tether never lost its dominance. Even now, in 2023, the prolonged bearish crypto market is pushing users toward USDT while other cryptocurrencies trade in the red. In fact, the demand has been so great that Tether had to increase its supply, which hit $83.5 billion earlier this week. This made its total supply near its all-time high of $84.1 billion. Tether previously reached this level last year, in 2022, while the crypto winter was at its strongest point. 1/ 📊 The total supply of $USDT has r...

A pair of firms operating under the Maker ecosystem has moved to settle for $1.16 million with investors who sought compensation for financial losses suffered after the “Black Thursday” COVID crash in March 2020. Plaintiff Peter Johnson lodged the class action lawsuit one month after the collapse. The case was filed for numerous investors who claimed the Maker Foundation and related entities intentionally misrepresented the risks of collateralized debt positions (CDPs) on the platform, leading to losses totaling $8.3 million.  Maker’s CDPs (or vaults) allow users to take out overcollateralized DAI loans using crypto such as ether (ETH), but those assets can be liquidated if the value of their collateral slips below a certain point. Johnson said he experienced such losses when ETH tanked up to 45% around Mar. 12, 2020 — a day dubbed “Black Thursday” — dropping from $200 to $110. MakerDAO’s native token MKR sank about 60% at the same time, while the total crypto market lost near...

The service will initially be rolled out to select PayPal users within the United States. Digital payments platform PayPal has teamed up with MetaMask parent company ConsenSys to allow MetaMask users to purchase and transfer Ether (ETH) via PayPal’s platform. According to the Dec. 14 announcement, the service will initially be rolled out only to select PayPal users within the United States, as the country is one of MetaMask’s largest markets in terms of users.  Our US users will now be able to fund their Wallet with ETH via @PayPal! Rolling out in the next weeks in the US, excl. Hawaii, through our mobile app (make sure to update to v5.13.0)https://t.co/392JwFYF3m — MetaMask (@MetaMask) December 14, 2022 The collaboration is intended to allow users to seamlessly purchase and transfer ETH from PayPal to MetaMask by simply logging onto their Mobile MetaMask App, which will then redirect them to their PayPal account to complete transactions.  Lorenzo Santos, product manager f...