Recently, Gala Game, a Web3 gaming project, fell victim to an exploitation incident where an unknown attacker, posing as a compromised admin address, managed to mint 5 Billion GALA tokens, valued at over $200 million. This breach led to the unauthorized sale of 600 million tokens through Uniswap, amounting to $29 million at the time
Finance
Revolutionizing the way Web3 projects raise capital and issue tokens, Polimec has recently debuted on the Polkadot network. This decentralized and community-driven funding protocol aims to provide a transparent and regulatory-compliant environment for connecting investors and startups globally. The launch of Polimec marks a significant step forward in Web3 fundraising engagement, offering an avenue for
The price of Bitcoin has seen a positive movement, rising by 2.9% on Friday to trade above $67,000 for the first time since April 24. This increase has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, it is important to note that Bitcoin is subject to
The US Treasury Department is set to prioritize addressing the risks posed by cryptocurrencies and emerging technologies in the near future through the implementation of comprehensive regulations. The department’s 2024 National Strategy for Combating Terrorist and Other Illicit Financing report includes digital assets as a key focus area. The strategy aims to combat the misuse
Ric Edelman, founder of the Digital Assets Council of Financial Professionals and Edelman Financial Services, recently discussed his bold prediction for the future price of Bitcoin. In his interview with Yahoo Finance, Edelman highlighted the potential for Bitcoin’s price to soar to $420,000, driven by global asset diversification. This forecast has sparked both excitement and
Deutsche Bank has recently demonstrated a surge in interest in digital assets and tokenization through its involvement in the Monetary Authority of Singapore’s Project Guardian. This initiative is specifically focused on testing asset tokenization applications within a regulated environment to assess their viability and potential integration within financial markets. The collaboration under Project Guardian includes
Shiba Inu, the popular meme coin, has been making headlines recently with its increasing adoption as a payment method. CoinGate, a blockchain payment processor based in Lithuania, has joined the trend by integrating Shiba Inu with Polygon and Binance Smart Chain. This move opens up new opportunities for businesses to accept and manage cryptocurrencies, bridging
The past 24 hours in the cryptocurrency market have shown a significant calmness, putting a halt to the ongoing bearish assault and leading to some consolidation. Bitcoin has been hovering around the $61K mark on Sunday morning, while Ethereum has dipped below the crucial $3K level. A recent report by CryptoPotato highlighted a sudden correction
The European Securities and Markets Authority (ESMA) has recently announced a review of the rules governing crypto asset investments by UCITS (Undertakings for Collective Investment in Transferable Securities). This review is part of a broader examination of the EU’s financial regulatory framework initiated in response to a request from the European Commission (EC) to ensure
Block, owned by X co-founder Jack Dorsey, recently announced that they will be investing 10% of profits made from bitcoin-related products into monthly BTC purchases. In his Q1 2024 earnings report, Dorsey emphasized the importance of bitcoin as the best candidate for a decentralized open protocol for money. This move comes as Block addresses concerns