Crypto Guides, Knowledge & Insights

Hacken: Recent Attack on Ripple Co-Founder's Wallet Linked to Wallet and XRP Authorized Wallet

Blockchain security firm Hacken recently revealed the connection between a previous hack targeting Ripple co-founder and chairman Chris Larsens personal wallet and XRP escrow wallets. The hack occurred on January 31, resulting in Larsen losing 213 million XRP, valued at $112.5 million.　　According to Hacken, the hack involved two core wallets connected to XRP escrow wallets. Due to the unique complexity of the event, the investigation initially focused on a wallet address starting with “rJNLz3A1,” which was identified as the compromised XRP wallet.　　Through analysis of inbound and outbound transactions, Hackens research indicates that most of the stolen funds were transferred to various exchange addresses, including one from the Kraken exchange, purportedly used for laundering funds.　　Specifically, a wallet address starting with “rU1bPM4” had a significant transaction history with Larsen and was associated with the wallets used by the hacker. This account had a long-standing connection with XRP and, prior to the event, sent $64.6 million worth of XRP to Larsen and engaged in transactions with Kraken deposit addresses allegedly used to transfer funds from the attack.　　Although Hacken did not conclude that the attack was carried out by insiders, the connection between the involved wallets and XRP escrow wallets is indeed unusual.　　

2024-02-09Deep Dive

Genesis Reaches Settlement Agreement with New York Attorney General,

Genesis has reached a settlement agreement with New York Attorney General Letitia James, who previously accused Genesis of deceiving customers through the now-terminated Gemini Earn program. This settlement will result in the return of assets, which could have otherwise been claimed by New York authorities, to former Earn customers and other Genesis creditors.　　The agreement still needs approval from a bankruptcy judge. Genesis will seek approval from Judge Sean Lane for the New York settlement and liquidation plan on February 14th. (Bloomberg)　　Earlier on February 2nd, bankrupt Genesis had agreed to settle a lawsuit filed by the Securities and Exchange Commission (SEC) a year ago regarding a lending program.　　As a subsidiary of Digital Currency Group, Genesis agreed to pay $21 million to the SEC to end the lawsuit, according to a document filed in the Southern District of New York bankruptcy court.　　

2024-02-09Deep Dive

ERC404 Project Pandora Announces Official Establishment as a Full-Fledged Entity

The ERC404 project Pandora posted on X platform, stating: “Finally completed the last piece of paperwork. Today Pandora officially becomes a full-fledged entity. We have transformed from a group of idea-driven individuals into a mature startup company with a team of over 10 people. Today, we will undergo auditing, with liquidity locking to follow closely. As we continue to explore the final EIP, the team will release some exciting new developments and provide comprehensive documentation. Everything is just beginning.”　　

2024-02-09Deep Dive

The 17th Trading Day Sees a Net Inflow of $68 Million into Bitcoin Spot ETF

According to BitMEX Research data, the net inflow of funds for the 17th trading day of the U.S. Bitcoin spot ETF (on February 5th) amounted to approximately $68 million.　　

2024-02-06Deep Dive

Multicoin Capital Is Discussing Selling Its Approximately $100 Million FTX Bankruptcy Claim

Cryptocurrency investment firm Multicoin Capital is currently in discussions regarding the sale of its FTX bankruptcy claim, which is valued at approximately $100 million, according to a knowledgeable source.　　Positive news surrounding the FTX bankruptcy has already driven the claim price up to over 70 cents per dollar and is now approaching 80 cents.　　Companies inadvertently involved in the FTX collapse, such as Multicoin, have been approached by claim buyers for over a year. As potential bids increase, these companies are weighing the opportunity cost of capital and opting to sell early.　　

2024-02-06Deep Dive

Binance Co-founder He Yi's Response to "RONIN Listing Info Leak" and Six Key Adjustments

On February 6th, Binance co-founder He Yi stated that there have been occasional heated discussions about the leakage of listing information on Binance in the past, often involving projects that have not yet been released. Its not uncommon for the community to excessively hype up to maintain momentum. However, after the announcement of the listing of RONIN today, the subsequent price drop sparked intense community discussions. An internal investigation revealed that the price drop was due to a previous incident involving the retrieval of tokens for users on the integrated public chain, which was detected by external parties as an on-chain aggregation. The community began discussing the listing of RONIN on Binance. After careful consideration, the following adjustments will be made on top of the existing listing process:　　Internal adjustments at Binance: Team members involved in the listing process, including business, research, pre-IC, IC, development, operations, and announcements, will strengthen internal management and firewalls. If there is any leakage of information for any reason, a warning will be issued for the first occurrence, and termination will follow for the second.　　External cooperation adjustments at Binance: Business communication with external partners often involves aspects such as project research information, token model communication, token

2024-02-06Deep Dive

Nasdaq Issues Delisting Notice to Bitcoin Mining Firm Bit Brother, Hearing Scheduled for February 27

Bit Brother Limited, a mining company listed on Nasdaq, has disclosed that it has received a delisting notice. According to the notice, Nasdaq made this decision primarily due to market concerns arising from certain warrants issued in two registered offerings by the company on October 25, 2023, and December 5, 2023, which included non-cash exercise terms, as well as concerns related to such transactions causing public interest issues. It is reported that this delisting notice will not immediately impact Bit Brother Limiteds listing and trading. Nasdaq has allowed the company to participate in a hearing on February 27 to provide explanations. Until the hearing process is completed, Nasdaq will continue to suspend any suspension or delisting actions.　　

2024-02-05Deep Dive

Powell: Rate Cut is Imminent, but Unlikely to Have Confidence for a Cut in March

Federal Reserve Chairman Powells interview on “60 Minutes” aired, during which host Pelley asked Powell, “You disappointed a lot of people last week. The next meeting to decide the direction of interest rates will be in March this year. Based on what you know now, is there a greater or lesser likelihood of a rate cut at that time？”　　Chairman Powell responded, “The current overall situation is that the economy is strong, the labor market is strong, and inflation is decreasing. My colleagues and I are trying to choose an appropriate time to start reducing our restrictive policy stance. That time is approaching. We have stated that we want to have more confidence in inflation reaching 2%, and I think the committee is unlikely to have that level of confidence at the March meeting in 7 weeks. Except for two participants, all other participants believe it is appropriate to start easing the restrictive stance through rate cuts this year. So, thats the basic situation, and we just want to find the right time.”　　During the interview, Pelley also asked Powell, “In the December 2023 Fed forecast, is it still possible for this years rate cuts to bring interest rates down to around

2024-02-05Deep Dive

SFC Hong Kong: Apply for Crypto License by Feb 29, Cease Unlicensed Operations by May 31

According to official information, the Securities and Futures Commission (SFC) of Hong Kong has stated that crypto asset trading platforms operating in Hong Kong, under the transitional arrangements, must either submit a licensing application to the SFC by February 29, 2024, or cease operations in Hong Kong by May 31, 2024.　　Investors are advised to check the regulatory status of their crypto asset trading platforms and should be prepared by May 31, 2024. This preparation may include closing their accounts on platforms not on the “Licensed Crypto Asset Trading Platforms List” or “Crypto Asset Trading Platform Applicant List,” or transferring to crypto asset trading platforms licensed by the SFC.　　For applicants on the “Crypto Asset Trading Platform Applicant List” whose applications are still under process, the approval status is uncertain, and trading on these platforms carries risks.　　The SFC strongly urges investors to trade crypto assets only on platforms licensed by the SFC, as trading on unlicensed platforms may leave them unprotected.　　

2024-02-05Deep Dive

FTX Seeks Approval for Swift Sale of 8% Stake in Anthropic

Cryptocurrency exchange FTX, which is undergoing bankruptcy proceedings, is preparing to sell its most significant remaining illiquid asset: an 8% stake in the AI startup Anthropic. In October 2021, Anthropic received a $500 million investment from Sam Bankman-Fried, the former CEO of FTX. FTX has submitted a motion seeking court approval to sell its stake in Anthropic. Another motion has been filed, requesting a shortened review period for the sale motion, allowing it to be considered at the next bankruptcy court hearing on February 22. Objections to this motion must be submitted by February 15.　　The filing discloses the exact percentage of FTXs ownership in Anthropic, which is 7.84%, and outlines two primary procedures for selling the shares: auction or private sale. FTXs lawyers have redacted the price they seek for their Anthropic shares, citing that “public reference prices may adversely affect the debtors goal of obtaining higher and better offers for the Anthropic shares.”　　

2024-02-04Deep Dive

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