Cryptocurrency News Today TheBitTimes.com

Yesterday saw the year’s first “significant” crypto hack, with exploited funds totalling $2.5 million removed from decentralized finance (DeFi) options platform Moby, on Arbitrum network. Softening the blow, however, was the revelation that the majority of losses, almost $1.5 million in USDC, had been scooped up by self-described “noob engineer” and MEV researcher Tony Ke of Solayer Labs/Fuzzland. The “whitehacked” funds have since been returned. We just automatically hacked the hacker and rescued 1.4M USDC! 100% of fund were returned to the project owner > Here's how the hacker is whitehat-hacked pic.twitter.com/R3SF5hIZnh — Tony KΞ (@tonykebot) January 9, 2025 Read more: ‘Cryptographic performance art’ drains contract one block after launch The Moby team’s statement describes the hack as “an incident involving the leakage of a private key, which affected some LP [liquidity provider] assets,” pointing out that “it was not a security issu...

Carbon Browser’s Intuitive Design: Simplifying Navigation! In the ever-expanding world of web browsers, Carbon Browser stands out for its user-centric approach, blending performance, security, and simplicity. One of its most striking Features is its intuitive design , which aims to simplify navigation for users of all experience levels. Here’s a closer look at how Carbon Browser achieves this. Streamlined User Interface Carbon Browser’s interface is minimalistic yet highly functional. Its layout prioritizes accessibility, placing frequently used tools and Features within easy reach. Whether you’re switching tabs, adjusting settings, or searching for content, every action feels seamless and efficient. The clean design eliminates clutter, enabling users to focus solely on their browsing experience. This simplicity is particularly appealing for those who are new to advanced browser functionalities, offering a welcoming environment that reduces the learning curve. Gesture-Based Nav...

Soulbound Tokens: Revolutionizing Digital Identity on Blockchain! The rapid evolution of blockchain technology continues to unveil groundbreaking solutions across various sectors, and digital identity is no exception. One of the most innovative applications emerging in the decentralized landscape is Soulbound Tokens (SBTs) , poised to revolutionize how we manage and protect our digital identities. What are Soulbound Tokens? Soulbound tokens , first conceptualized by Ethereum’s co-founder Vitalik Buterin, are unique, non-transferable tokens that represent an individual’s digital credentials, achievements, or identity. Unlike traditional NFTs, SBTs cannot be traded or sold. They are permanently “bound” to the holder, making them a secure, tamper-proof method of storing personal information and verifying identity on blockchain networks. Why is Digital Identity Important? In today’s digital age, our online identity is a critical aspect of interacting with the virtual...

In a new controversial proposal , Vitalik Buterin suggests decreasing the number of PoS validators from nearly 1 million to just 8,192 to reduce complexity. In a new proposal released on Dec. 27, Ethereum (ETH) co-founder Vitalik Buterin has outlined a plan to dramatically simplify Ethereum’s proof-of-stake (PoS) system to reduce complexity and expand the design possibilities. The current PoS system attempts to support decentralization by allowing many validators — currently almost 900,000. However, Buterin argues that this creates significant complexity, sacrifices, and constraints while still not fully achieving the goal of accessibility for small-scale stakes due to the 32 ETH minimum requirement. Instead, Buterin proposes reducing the number of signatures per slot to just 8,192 from the current plan of over 1.7 million. This would enable major simplifications across Ethereum, make it much easier to transition to quantum resistance, and retain a cost for attacks between 1-2...

Bitget, the world’s 10th largest cryptocurrency exchange, is implementing comprehensive Know Your Customer (KYC) requirements for all English-speaking users.  The security -enhancing measure, effective from Dec. 15, aligns with regulatory standards to ensure compliance across the platform. Aligning with global financial regulations In response to user preferences and the need for flexibility, Bitget is implementing its KYC requirements in two tiers. Under this framework, the completion of Level 1 grants users access to all Bitget services, including derivatives and copy trading, with daily withdrawal limits extending up to $3 million. Bitget’s rollout of the KYC implementation will be done in phases to minimize disruption and give users sufficient time to upgrade their accounts. The strategic introduction aligns with Bitget’s ongoing efforts to combat financial crimes like money laundering, reinforcing the platform’s dedication to enhancing user protection. ...

The proposal secured a narrow passage, garnering 41.1% approval votes compared to 38.5% disapproval, marking the highest turnout vote in the Cosmos ecosystem. The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, ATOM (ATOM), from approximately 14% to 10%. As per the proposal, the authorized modification would reduce Atom’s annualized staking yield from around 19% to approximately 13.4%. The Cosmos Hub is the primary blockchain within the Cosmos network, a system of interlinked blockchains. The native token of the Hub is Atom, employed for staking, governance, and transaction fees. The proposal secured a narrow passage, garnering 41.1% approval votes compared to 38.5% disapproval, marking the highest turnout vote in the Cosmos ecosystem. Initially expected to fail shortly before the deadline, a last-minute influx of votes and some reversals from validators narrowly tilted the outcome in favor. Screenshot of the proposal  ...

The security firm urges those using wallets generated from 2011 to 2015 to transfer their assets to crypto wallets that were generated more recently. While the crypto community is still weathering the effects of the recent $100-million Poloniex hack, another cyber security threat that could affect billions worth of crypto assets has been discovered by a team of blockchain security experts.  On Nov. 14, cybersecurity company Unciphered released information on a vulnerability that they called “Randstorm,” which they claim to affect millions of crypto wallets that were generated from 2011 to 2015. Today we release our work on Randstorm: a vulnerability affecting a significant number of browser generated crypto currency wallets https://t.co/CebdytNaC6 Reporting @washingtonpost https://t.co/OzYDq2tH4W Technical write-up: https://t.co/HPqjtaX1CA #Bitcoin #blockchain pic.twitter.com/aN7CZh9sv4 — Unciphered LLC (@uncipheredLLC) November 14, 2023 According to the firm, while wor...

South Korea has set a new reserve requirement for crypto exchanges, mandating them to have at least $2.3 million in reserves. Cryptocurrency exchanges in South Korea with bank-issued real-name accounts will have to reserve 30% of their daily average deposits or a minimum of 3 billion won ($2.26 million) starting from September 2023, according to a report by local news outlet News 1. The directive comes from the “Virtual Asset Real-Name Account Operation Guidelines” published by the Korea Federation of Banks in July. Meanwhile, the reserve requirement is capped at 20 billion ($15 million). The requirement aims to ensure that crypto exchanges can compensate users if a hack or system failure happens. You might also like: South Korea enacts comprehensive laws to protect crypto users The reserve standard will take effect in September. Other rules, such as robust know your customer (KYC) and authentication for collection transfers, will be implemented in Jan...

The fast-paced nature of the crypto markets means investors are under massive pressure to quickly verify whether a video message is authentic or not. Crypto investors have been urged to keep their eyes peeled for "deepfake" crypto scams to come, with the digital-doppelganger technology continuing to advance, making it harder for viewers to separate fact from fiction.  David Schwed, the COO of blockchain security firm Halborn told Cointelegraph that the crypto industry is more “susceptible” to deepfakes than ever because “time is of the essence in making decisions” which results in less time to verify the veracity of a video. Cast your vote now! Deepfakes use deep learning artificial intelligence (AI) to create highly realistic digital content by manipulating and altering original media, such as swapping faces in videos, photos, and audio, according to technical writer at OpenZeppelin Vlad Estoup. Estoup noted that crypto scammers often use deepfake technology to creat fake ...