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The decentralized finance (DeFi) platform LI.FI protocol recently fell victim to an exploit resulting in over $8 million worth of funds being stolen. Cyvers Alerts brought attention to suspicious transactions within the LI.FI cross-chain transaction aggregator. LI.FI acknowledged the breach in a statement on July 16, warning users not to engage with any http://LI.FI powered
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South Korean lawmakers have recently put forward a bill to postpone the implementation of crypto gain tax until 2028. The ruling political party expressed concerns about the current negative sentiments surrounding the crypto industry as the primary reason for seeking an extension. They emphasized the fact that with the declining investment sentiment towards virtual assets,
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Recent reports have highlighted significant exceptions granted by the US Securities and Exchange Commission (SEC) to certain financial institutions affected by Staff Accounting Bulletin No. 121 (SAB 121). These exceptions have sparked discussions within the industry regarding the implications for crypto accounting compliance and the broader landscape of the crypto industry. The SEC’s decision to
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Railgun, a popular crypto privacy protocol, recently made headlines for successfully foiling Inferno Drainer’s latest attempt to launder stolen funds. The anti-money laundering tracking system, MistTrack on X, intercepted an effort to launder over 174 ETH, valued at approximately $533,000. This led the perpetrators to return the stolen funds to their original wallet’s address. Inferno
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In a recent Senate Agriculture Committee hearing, CFTC chair Rostin Behnam expressed openness to the idea of the agency becoming a primary regulator for cryptocurrencies. This proposal, if implemented, would involve changes to the definitions of securities and commodities. Senator Roger Marshall suggested that the CFTC take on the role of primary regulator for digital
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In recent news, ShardLab, the blockchain branch of Hashed, has unveiled a groundbreaking web application designed to streamline decentralized identity (DiD) and NFT voucher dissemination. Leveraging cutting-edge technologies such as account abstraction (AA) and zero-knowledge proofs (ZK), this app sets out to revolutionize the security and usability of everyday transactions in the blockchain space. The
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MetaMask, a brainchild of Ethereum firm ConsenSys, has introduced its latest groundbreaking innovation – the MetaMask Delegation Toolkit. This toolkit aims to revolutionize the user onboarding experience and enhance accessibility to the Web3 ecosystem. Unlike traditional methods that involve navigating through multiple platforms and seed phrases, this toolkit simplifies the process by offering seamless user
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