Author: Hazel Anderson

The Cardano developers are upgrading nodes on the network to strengthen blockchain security following a failed DDoS attack. To protect against possible future spam attacks, developers are implementing a node upgrade on the Cardano blockchain. A DDoS attack began on June 25th at block 10,487,530 of the Cardano network, targeting fee manipulation for high-value transactions, as explained by Raul Antonio, CTO of Fluid Tokens. Moreover, if he succeeded in his intent, the attacker might hack and steal staked ADA tokens from the network. Uncovering the Motive: Intent Behind the Cardano DDoS Attack While it took place, Philip Disarro was very…

A recent development that has stirred interest in the cryptocurrency community is the transfer of an unspecified amount of Shiba Inu(SHIB), namely 1,087,988,359,122 SHIB, equivalent to approximately $18,369,595, from an unknown wallet to the Binance exchange. This massive transfer occurred during a general market downtrend where Shiba Inu (SHIB) has shed approximately 9% of its value. Such a transfer has attracted a lot of attention in the trading community and among analysts, pointing to potentially large trading actions during the recent fluctuations and drop in SHIB’s price. While other significant coins, such as Bitcoin and Ethereum, are also under pressure…

A major South Korean economic think tank has reportedly quashed the prospects of a Bitcoin or Ethereum spot ETF approval by Seoul due to risks and regulatory issues. The comments are attributed to a Korea Institute of Finance researcher, Lee Bo-mi as quoted by News1 paper. According to Lee, “The adoption of crypto asset-linked products carries significant risks to financial stability. South Korean Economic Think Tank Fears Bitcoin ETF Launch Lee said that adoption of crypto-linked financial products could trigger a rise in the prices of cryptocurrencies. On the other hand, the author pointed out that when prices decline, the…

Solana has slightly corrected downwards as well as the entire market, but there are signs of an upward trend. Over the past day, SOL has lost 3% of its value. It was 72%, and now it is $131.71. Solana recorded an 11. 13% week loss in sync with other cryptocurrencies such as Bitcoin and Ethereum as markets pull back. Despite a 26. 85% decline this month, Solana has provided an incredible 691. 41% return this year, which makes its performance even better in comparison to many well-known cryptocurrencies. The trading volume of the coin fell by 1% in the last…

The recent PEPE price pullback to key support indicates bullish strength that can be supported by the metric highlights. Recently, there was a surge in investor regard towards PEPE as it reached its crucial support which signaled a bullish turnaround capable of starting a proper rally. PEPE has centered around the $0. 000015 base at the support level of the past 6 days, the bullish pressure is slowly increasing as long as the ascending trendline remains intact. PEPE got further reinforcement from the EMA 50-day, which is situated above the EMA 100-day when the token was trading above both indicators.…

Charles Hoskinson plans on launching Cardano’s decentralized governance through Chang’s hard fork in June, which is already a significant step. A recent update by Charles Hoskinson shows that Cardano is ready for the next years as it has released a new node that will lead to the Chang hard fork that will take place this month. The Chang hard fork is not just another technical update; it will be one step closer to fully decentralized governance on the Cardano network. Hoskinson stresses the importance of ADA stake pool operators, awaiting 70% of node upgrade for the fork. Ownership of Cardano:…

On June 1st the X account of Frax Finance got hacked by someone who didn’t know the passwords except for the company. CEO Sam Kazemian thinks that someone from inside has helped the hackers. Someone managed to hack Frax Finance’s X account without changing or stealing the passwords. How did they do that? Hackers got control of the Twitter account of Frax Finance on June 1. He asked his followers on X to help him contact X customer service so that he could get his account back under control. When users have a problem on X, it takes almost three…

This weak, defunct Bitcoin exchange, Mt. Gox, transferred billions of Bitcoin causing a wave of concern in the market. It was expected that this would lead to a sudden increase in the selling of Bitcoin. At the time of writing, Bitcoin is changing hands for $68,294, indicating a 2.10% drop in a week, the price of BTC fell from the mark of $70,000 on Monday. Source: CoinMarketCap In 2014, Mt. Gox faced bankruptcy after a huge hack, which was the first significant Bitcoin marketplace. Mt. Gox, the failed exchange, owes its creditors 142,000 Bitcoin worth 49 billion. The deadline for…

Genesis started a program named Gemini Earn, the attorney general filed a lawsuit against it in October 2023. They claimed it to be a fraudulent program for inverters. The attorney general for NewYork, Letitia James claimed that her office was successful in receiving a $2 Billion settlement from Genisies. This money is for the victims who got scammed in this program. In a notice shared on May 20, AG said that the bankruptcy court had approved a $2 Billion settlement between the authorities and Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. This settlement amount will be returned…

It went undetected for months even though the insider scheme executed over thirty-six transactions, resulting in the theft of $300,000 from the Cypher Protocol, as the main developer’s misconduct on Solana led to funds being spent on gambling. Hoak, a pseudonymous inventor of the Cypher Protocol, admitted stealing about $300,000 in user funds. He then spent stolen money on gambling. The main developer of the cross-margin decentralized exchange located in Solana confessed his misconduct in a statement released to the public on X post on May 14: “To address the elephant in the room, the allegations are true, I took…