Crypto Guides, Knowledge & Insights

Unibot Hacker Funneled 355.75 ETH via Tornado Cash Laundering Scheme!

Unibot hackers official Twitter account released a statement addressing a token approval vulnerability discovered within their new router.　　The company promptly suspended the router to contain any potential risks, citing a bug as the root cause. Assurances were extended to users regarding the safety of their keys and wallets, with a commitment to reimburse any lost funds. The announcement emphasized Unibot hackers proactive stance in addressing the issue and promised a comprehensive response pending the completion of their investigation.Stolen Tokens Laundered Through Tornado CashUnibot Hacker Funneled 355.75 ETH via Tornado Cash Laundering Scheme! 　　The gravity of the situation was further underscored by PeckShieldAlert‘s monitoring report, revealing distressing details about theUnibot hacker’s swift actions. The report disclosed that the assailant had successfully converted the pilfered tokens, amounting to an estimated 355.75 ETH, equivalent to roughly $640,000. Further analysis by PeckShieldAlert indicated that the attacker had effectively obscured the origins of the funds by laundering them through the notorious Tornado Cash platform.　　The convergence of Unibots security vulnerability and the subsequent illicit conversion of tokens into a substantial amount of Ethereum cast a shadow over the crypto community. Industry experts and investors expressed concerns over the persistent challenges posed by security breaches and the

2023-11-01Deep Dive

Starknet to Distribute 50 Million STRK Tokens to Early Ecosystem Contributors

The Starknet Foundation is allocating 50 million STRK tokens, which have not been released yet, to early ecosystem contributors. This initiative is known as the “Early Community Members Program” and aims to reward individuals who encourage technical discussions, organize Starknet-related events, and regularly publish Starknet-related content, as described in a blog post.　　“We intend to take this opportunity to recognize individuals who have made significant contributions to the Starknet ecosystem in various ways. Such contributions involve being key members who have made a substantial and positive impact on the ecosystem,” stated the Starknet Foundation in the blog post.　　The foundation also mentioned that it will reserve some tokens in case some contributors are inadvertently overlooked.　　

2023-10-31Deep Dive

Venture Capital Firm CEHV Partner: Most Accelerators Are Worthless Scams

CEHV Partner and YFI contributor Adam Cochran, in a post on X platform, expressed that most “accelerators” are scams with no value. If youre looking for an accelerator, he provided the following rules:　　A valuation of $3-5 million should be the absolute minimum.　　Investment should not come with any project fees.　　Housing (referring to general hardware support) should not substitute for cash.　　Legal advisory-related fees should not be included in the investment.　　Proportional allocation.　　There should be no board seats.　　Connections are crucial (referring to resources provided).　　Accelerators and their teams should never demand advisor equity.　　

2023-10-31Deep Dive

CEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way

The Blocks data dashboard shows that the cumulative trading volume on cryptocurrency exchanges from October 1st to the present has reached $443.27 billion. Binance leads the way with a spot trading volume of $179.41 billion in October. South Korean exchange Upbit ranks second with a spot trading volume of $51.88 billion in October.　　From October to the present, Bybits spot trading volume reached $31.99 billion. Coinbase had a spot trading volume of $28.22 billion, and OKX had a spot trading volume of $27.68 billion.　　In addition, the spot trading volume (7-day average) of top platforms surpassed $240 billion on October 26, marking a new high since the end of March.　　Compared to the summer, the crypto market has experienced more pronounced volatility as traders are closely watching the impact of headlines regarding the potential launch of a “Bitcoin spot ETF.” Supporters believe this will create new channels for capital inflows. The Blocks data shows that the BTC Dvol (Deribit Bitcoin Volatility Index) has reached a new high since April.　　

2023-10-31Deep Dive

Bittrex U.S. Shutdown As Bankruptcy Plan Approved By Court

According to Reuters, Bittrex U.S. shutdown plan meets court approval after legal battle with SEC. Assets returned to customers, creditors paid in full. $143M withdrawn during bankruptcy.　　Crypto exchange Bittrex has received bankruptcy court approval to shut down its U.S. operations, following a legal battle with the U.S. Securities and Exchange Commission (SEC). The bankruptcy plan, approved by U.S. Bankruptcy Judge Brendan Shannon, allows Bittrex to wind down its operations and pay remaining creditors in full.Legal Battle with the U.S. SEC Leads to Bittrex U.S. Shutdown　　Bittrex filed for bankruptcy protection in May after being charged by the SEC with operating an unregistered securities exchange. The company decided to close its U.S. operations and return assets to customers, reaching a $24 million settlement with the SEC in August. Unlike other bankrupt crypto companies, Bittrex did not have a funding shortfall and did not lock customers out of their accounts.　　Customers were encouraged to withdraw funds before the bankruptcy filing. Bittrex estimated that it would have money left over after customer withdrawals, as some accounts were inactive or abandoned. The majority of remaining Bittrex accounts have less than $100 in assets.　　The company‘s non-U.S. operations based in Liechtenstein, known as Bittrex Global, are unaffected by

2023-10-31Deep Dive

Dogecoin 2200% Breakout: Analyst Reveals Why You Should Buy DOGE

Dogecoin is on the verge of a massive breakout, according to one crypto analyst. The meme coin which has maintained a rather consistent uptrend over the last few days seems to just be getting started as analyst Ali Martinez sees a surge to $1.6.Dogecoin Price Primed For 2200% Move　　In a recent analysis posted on X (formerly Twitter) crypto analyst Ali Martinez presented an ultra bullish narrative for the Dogecoin price. The analyst shared a chart showing a possible price trajectory for the meme coin that seems to end at the $1.6 level.　　This starts out at the current $0.069 level which the analyst believes is a great buying point. Then going onward, there is an initial pump above $0.13 before a brief retracement takes place. Then there is another surge in price that sends DOGE right above $0.4.　　The next level mapped out in the chart sees it rise as high as $1.2 before another drawdown. Another bounce from here is what takes the Dogecoin price above the $1.6 target, before a final drawdown back below $1.DOGE could rally to $1.6 | Source: Ali_charts on X　　“#Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The

2023-10-31Deep Dive

Thailand’s Major Bank Seizes Control of Local Bitcoin and Crypto Exchange

Thailands Kasikorn Bank has made a substantial move in the cryptocurrency realm, acquiring a 97% stake in Satang Corporation Company Limited for 3.705 billion Thai baht ($102.8 million) through its subsidiary Unita Capital.　　The acquisition aims to fortify the banks position in the digital asset market.　　In the aftermath of the purchase, Satang Corporation is set to be rebranded as Orbix Trade Company Limited. This strategic transformation is accompanied by the establishment of three additional subsidiaries: Orbix Custodian, Orbix Invest (a digital asset fund manager), and Orbix Technology, dedicated to blockchain development.Kasikorn Bank‘s Vision for Digital Asset Domination　　While Kasikorn’s stance on Bitcoin remains ambiguous, the institution recently introduced a $100 million fund to target investments in web3, fintech, and AI. In a parallel pursuit, Siam Commercial Bank (SCB) is also making significant headway in the web3 and cryptocurrency space, aligning with Thailands evolving regulatory landscape.　　SCB had earlier this year attempted a similar acquisition of a regional rival, though it was notably stalled over regulatory issues.　　Kasikorn Bank has set an ambitious goal to capture 20% of the cryptocurrency market share in Thailand by the year 2024, marking its commitment notable at a time when many global banks remain on the sectors sidelines.　　Despite challenges

2023-10-31Deep Dive

94.2% Chance Of No Change In Fed Interest Rate Decision On November 1

The Fed interest rate decision will be announce on Nov 1. 94.2% chance rates will remain unchanged. Unemployment rate for October will also be released.　　The Federal Reserve is scheduled to announce its decision on interest rates on November 1. According to CME, there is a 94.2% chance that the current interest rates will remain unchanged and not increase. The United States will also release the unemployment rate for October this week.　　BTC experienced a 14% increase in value in the week leading up to the FED interest rate decision on November 1. It is currently trading at around $34,200 after reaching a new yearly high of $35,000 but failing to break through that price level.Fed Interest Rate Decision　　On October 10, Atlanta Fed Bank President Raphael Bostic and Minneapolis Fed President Neel Kashkari suggested that the central bank may not require further rate hikes. Meanwhile, Dallas Fed President Lorie Logan and Fed Governor Christopher Waller argued that the rise in Treasury yields has already fulfilled the Feds job, eliminating the need for an immediate rate hike, according to Reuters.　　Fed Chair Jerome Powell stated late last month that “inflation is still too high,” causing expectations that another rate hike may be possible later

2023-10-30Deep Dive

Sam Bankman-Fried Uncertain Over FTX Customer Funds’ Mysterious Transfer

Sam Bankman-Fried finds himself embroiled in a high-stakes legal battle, facing a daunting list of charges including seven counts of wire fraud and conspiracy FTX customer funds.　　His visionary creation,FTX customer funds, touted as a beacon of innovation in the crypto world, has been marred by a troubling series of allegations that have sent shockwaves throughout the industry.　　According to Sequoia Capital, FTX customer funds, Bankman-Frieds frustration with existing exchanges propelled him to establish FTX customer funds under the umbrella of his crypto trading firm, Alameda Research. However, the Securities and Exchange Commission (SEC) has leveled damning accusations, alleging that FTX was deceptive right from its inception.Financial Irregularities and Personal Revelations　　The superseding indictment paints a troubling picture of Bankman-Frieds alleged misappropriation and embezzlement of FTX customer deposits. Despite projecting an image of trustworthiness in the crypto sphere, Bankman-Fried is accused of orchestrating a deceptive scheme, funneling customer funds into extravagant investments, real estate acquisitions, and debt repayments for Alameda Research.　　The interconnected nature of FTX and Alameda, triggering a chain of events that culminated in FTX customer funds‘s financial downfall and Bankman-Fried’s forced resignation. Revelations about FTX‘s intertwined financial standing and the FTT token’s role further heightened scrutiny, leading former FTX customer funds

2023-10-30Deep Dive

This Week's Token Unlocking

According to Token Unlocks data, multiple projects will experience token unlocks this week:　　On October 30, at 12:00, Optimism (OP) will unlock 24.16 million tokens (approximately $34.31 million), accounting for 2.74% of the circulating supply.　　On October 31, at 08:00, Sui (SUI) will unlock 4 million tokens (approximately $221,000), accounting for 0.46% of the circulating supply.　　On October 31, at 08:00, 1inch (1INCH) will unlock 21,430 tokens (approximately $6,340).　　On October 31, at 22:00, Celestia (TIA) will unlock 267 million tokens, with 200 million allocated publicly and 67 million for research and ecosystem development.　　On October 31, at 23:00, dYdX (DYDX) will unlock 2.16 million tokens (approximately $5.39 million), accounting for 1.21% of the circulating supply.　　On November 1, at 15:00, Acala (ACA) will unlock 27.43 million tokens (approximately $142,000), accounting for 3.31% of the circulating supply.　　On November 2, at 08:00, Nym (NYM) will unlock 3.13 million tokens (approximately $39,700), accounting for 0.56% of the circulating supply.　　On November 3, at 11:06, Tornado Cash (TORN) will unlock 22,840 tokens (approximately $69,000), accounting for 0.6% of the circulating supply.　　On November 4, at 18:00, Immutable X (IMX) will unlock 18.08 million tokens (approximately $12.81 million), accounting for 1.5% of the circulating supply.　　On November 5, at 08:00, Liquity (LQTY) will

2023-10-30Deep Dive

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