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North Korea’s Lazarus Group was likely behind a hack of crypto exchange CoinEx that emptied several hot wallets holding more than $55 million in cryptocurrencies. The notorious group, known for targeting crypto businesses, is also believed to have conducted other recent hacks on betting site Stake and payment processor Alphapo. Blockchain sleuths Slowmist and ZachXBT say some of the hacked CoinEx funds were sent to wallets connected to Stake’s $41 million hack earlier this month. Some of the addresses used were also connected to the attack on Alphapo in July that resulted in $60 million of losses. It appears North Korea is also responsible for the $54M @coinexcom hack from yesterday after they accidentally connected their address to the $41M Stake hack on OP & Polygon. 0x75497999432b8701330fb68058bd21918c02ac59 pic.twitter.com/9qZPdc3yhT — ZachXBT (@zachxbt) September 13, 2023 🚨SlowMist Security Alert🚨 1/ @coinexcom Exploiter, @Stake Explo...

Deutsche Bank is set to offer customers cryptocurrency custody options through a partnership with cryptocurrency infrastructure platform Taurus. The German bank was one of a handful of company’s to invest in a $65 million, series B fundraising round for Taurus in Feb. 2023. The company offers enterprise-grade infrastructure to issue, manage custody and trade crypto currencies, tokenized assets, nonfungible tokens (NFTs) and other digital assets. According to Taurus co-founder Lamine Brahimi, the partnership underwent a "thorough and very detailed" due diligence process before the German bank decided to use its infrastructure services: "It started, end of 2021 and ended somewhere in 2022. We won the deal a couple of quarters ago." As Cointelegraph previously reported, Deutsche Bank has been brewing plans to offer cryptocurrency custody and trading services to its clients over the past three years. The bank most recently applied for a digital asset custody license ...

BRICS member China’s economy could be in jeopardy as all factors indicate a financial decline. China’s economy has now reached high debt levels, and government interference in all sectors has strained both small and medium-scale enterprises. In addition, the aging population is worrisome as more citizens claim benefits from health insurance schemes. The Chinese government covers a portion of medical costs for current and retired workers in urban areas. Also Read: BRICS : India Aggressively Dumping the U.S. Dollar, Insiders Say However, the Chinese boom might soon come to an end as its economy is echoing the 2008 financial crisis of the U.S. The Communist country might experience a full-blown financial crisis that could take years to recover from. BRICS: China Mirroring the U.S. Financial Crisis of 2008 Source: Indiatimes.com The Chair of Rockefeller International, Ruchir Sharma, told the Financial Times that China’s miracle path no longer exists. Sharma hi...

Digital Currency Group (DCG), the parent company of the insolvent crypto lending firm Genesis, is pushing for a repayment plan for its creditors , which includes participants in the Gemini Trust Co.’s Earn program. In a filing on Wednesday, Sep. 12, DCG assured Gemini Earn program investors that they could potentially receive complete reimbursement, equal to or even exceeding their initial investment. pic.twitter.com/vw4ONdHB0u — Digital Currency Group (@DCGco) September 13, 2023 Partial repayments will be made in Bitcoin (BTC) and Ethereum (ETH). The filing also indicates that other unsecured creditors of Genesis could potentially recover between 70% and 90% of their investments, which stands as a notable improvement compared to the expected payouts to customers of other insolvent crypto services like Voyager Digital and BlockFi Inc. You might also like: Genesis suing DCG to recover $620m in outstanding loans This suggestion comes as part of ongoing effor...

A closely followed crypto trader says that the Ethereum (ETH) rival Solana (SOL) has the potential to generate exponential gains for long-term investors. Pseudonymous trader Altcoin Sherpa tells his 196,200 followers on the social media platform X that Solana is a fundamentally sound crypto project that could perform well in the next bull market. Although the analyst is long-term bullish on SOL, he says that the road to get to bull territory will likely be bumpy. “As a network, SOL is still a good one and will probably be a solid bet for the next bull run. I’ve got a long-term bag that I’ll just hold because I expect great multiples on it later on. But in the short term, it’s likely going to be painful.”  Altcoin Sherpa’s short-term bearish view stems from the idea that the defunct crypto exchange FTX could start liquidating its significant SOL holdings to pay back its creditors. Court documents show that FTX currently holds a...

Chainlink (LINK) is firm following the accumulation of whales and sharks . Meanwhile, Borroe.Finance (ROE) is rallying despite choppy market conditions. Early ROE investors are already in the green. However, Cardano (ADA) is turning lower as whales sell. Analysts are pondering whether ADA will recover and align with LINK and ADA in the next bull run. LINK higher amid accumulation Chainlink rose above $6 despite the broader market depression. This spike follows the ongoing accumulation among high-worth investors, known as sharks , who hold between 10,000 and 100,000 LINK.  You might also like: Chainlink price surges 15% as whales make major moves Data from Santiment shows that sharks bought $9.6 million worth of LINK in just three days, buoying prices. Analysts predict that if demand continues rising, LINK could reach $7 by the end of 2023. Borroe.Finance keeps rising in presale Borroe.Finance offers loans to businesses that use their upcoming earnings as collatera...

The Bitcoin (BTC) price is expected to squeeze if the August Consumer Price Index (CPI) rises further and the collapsed crypto firm FTX gets approval for liquidation. According to the market analyst with the X (formerly Twitter) handle CrypNuevo, the U.S. CPI, scheduled for Sept. 13, might see an upsurge from 3.2% to around 3.6%. This could trigger FUD (fear, uncertainty, and doubt) among investors, which might ultimately initiate a selling pressure. Moreover, another bearish expectation comes from the possibility of FTX’s liquidation. The bankrupt crypto platform reportedly has roughly $7 billion in physical and digital assets.  If FTX gets the approval to liquidate assets and CPI comes above 3.6% on Wednesday, it's going to be an absolute bloodbath. I am not predicting what the actual CPI results will be, but I'm hoping that CPI comes <3.6% to make up for next month's expected CPI increase. — CrypNuevo (@CrypNuevo) September 10, 2023 Per CrypNuevo...

Terra Luna Classic v2.2.1 Core Upgrade The L1TF halted the Terra Luna Classic chain to upgrade it to v2.2.1 and introduce significant changes. It upgrade includes new cosmos SDK, tendermint migration to CometBFT, IBC-go to v6, and wasmd versions. The upgrade also implements key changes earlier passed through governance voting including splitting the burn tax to the distribution module. advertisement According to AtomScan, the Terra Classic chain is coming back online slowly as validators are online. Blocks and inflation data are showing correctly, but staked LUNC data is yet to appear on the platform. Validators and node operators confirmed upgrading to the latest v2.2.1 release to prepare for the upgrade. After 3 hours of the upgrade, PFC became the first validator to be up and running and other validators slowly getting online. The L1TF is yet to announce the changes and issues during the upgrade. Recommended Articles ...

In a Sept. 11 post on X, Mountain Protocol announced the launch of USDM, an ERC-20 yield -bearing stablecoin . Mountain Protocol, granted a digital asset business license by the Bermuda Monetary Authority, can now issue, sell, and redeem USDM. The thread on X (formerly Twitter) claims that the token is fully backed by short-term U.S. treasuries while offering users daily rewards through rebasing at a rate of 5% APY. The protocol states that the mechanism for rebasing is similar to Lido Finance’s stETH and will be familiar to most of the crypto community. 1/ Today we publicly launch Mountain Protocol and $USDM. Also announcing a financing round led by @nic_carter from @CastleIslandVentures with participation from @cbventures, @newformcapital, @daedalus_angels, @ameensol, @ASvanevik, @maraoz, @demibrener among others. pic.twitter.com/rWLYpwStHL — Mountain Protocol | USDM (@MountainUSDM) September 11, 2023 The stablecoin is also marketed for its ability to allow non-U.S. us...

The report titled “How Millennials See Their Financial Future” showed that 40% of millennial survey participants have invested in crypto. A report published by investing firm Alto surveyed adults based in the United States to find out their preferences in investing. The results showed that more millennials from ages 25 to 40 are investing in crypto compared to those of the same age who are investing in mutual funds.  The Survey shows that 40% of millennial participants have invested in cryptocurrencies. According to the report, this is “greater than the percentage of millennials who own mutual funds.” Moreover, the number is almost equal to millennials who own stocks. The report, dubbed “How Millennials See Their Financial Future,” also noted that most millennials either already own crypto or are considering buying. However, Alto Founder and CEO Eric Satz said that current conditions make it hard for millennials to consider investing. He explained that: “In a world of conspicuous ...

According to John E. Deaton, no one knows what will happen next in the crypto market. An FTX sell-off could lead to the crypto market falling by another significant margin. FTX sell-off could push the market down by another 30 to 40% in September. According to John E. Deaton, a prominent cyptocurrency lawyer, no one knows what will happen next in the crypto market until it happens. In a recent post, Deaton highlighted the uncertain short term outlook for the crypto market, particularly owing to the sale of the FTX estate’s crypto assets expected this month. Did we bottom? Will the FTX selling, during the next couple weeks, cause September to drive down another 30-40%, before actually bottoming? Is #BTC going to $15K before going to $50K? Here’s what I truly believe: no one knows what’s going to happen next, until it happens. https://t.co/KEOCHPJWnF — John E Deaton (@JohnEDeaton1) September 10, 2023 Deaton probed the scenarios confronting the crypto...

  Bitcoin price remains at a risk of a sharp decline to USD 18,800. Ethereum is trading below USD 1,100, XRP is testing the USD 0.320 support. SOL and BNB are accelerating losses, DOGE is in the green. Bitcoin price followed a bearish path below the USD 21,000 level. BTC extended losses and settled below the USD 20,500 level. It is currently (04:09 UTC) consolidating near USD 20,100 and is down 1% in a day and is almost unchanged in a week. Similarly, most major altcoins are trading in a bearish zone. ETH traded below the USD 1,120 and USD 1,100 support levels. XRP tested the key USD 0.32 support. ADA also tested the key USD 0.455 support zone. Total market capitalization Source: tradingview.com Bitcoin price After a close below USD 20,500, bitcoin price extended losses and traded below the USD 20,000 support zone. However, losses were limited and the price is now consolidating above USD 20,000, with an immediate resistance near the USD 20,350 level. The next ...

Researcher Vivek Raman said that after the Merge, ETH inflation will be lower, security will be better and ETH will position itself as a digital bond. As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin's (BTC) throne as the top dog in crypto.  In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the shift into PoS lowers Ether (ETH) inflation, gives better security and positions the crypto as a digital bond. Raman said that after the Merge, ETH inflation will drop from 4.3% to 0.22%. The researcher explained that this gives the ecosystem a 95% reduction in issuance, limiting the number of ETH that can be sold in a day.  Additionally, the researcher also explained that the platform would be running on better security after the Merge. Citing a post by Ethereum co-foun...

Source: Adobe/Deacon docs   Annual inflation in the US hit 9.1% in June, or more than what analysts had expected, and up from 8.6% in May. (This is a developing story and is being constantly updated). In a month, prices jumped 1.3%, also more than expected. The so-called annual Core-CPI (consumer price index) – which excludes prices of food and energy - stood at 5.9%. According to a Bloomberg estimate, the headline inflation number for June was expected to come in at 8.8% annually, while the so-called Core-CPI (consumer price index) – which excludes prices of food and energy &ndash ; was expected to be 5.7%, down from 6% one month earlier. The number was estimated to come in high after White House spokesperson Karine Jean-Pierre during a press conference on Monday said she expects inflation to be “highly elevated.” At the same time, the White House took the opportunity to downplay the importance of the number, saying it is “b...

The Philippine central bank sees the potential of crypto to improve domestic and cross-border payments, but the authority is still negative to crypto as a legal tender. Amid the rising cryptocurrency adoption in the Philippines, the country’s central bank is seeking measures to better protect investors through elevating local crypto awareness. The Philippine central bank, Bangko Sentral ng Pilipinas (BSP), wants to promote crypto education as the authority sees a lot of benefits associated with crypto and blockchain, a BSP representative said in an interview with Cointelegraph. “The BSP’s focus is on virtual assets’ capacity to improve the delivery of financial services, particularly payments and remittances services, as it has potential to provide faster and economical transfer of funds, both for domestic and international setting,” the BSP stated. According to the BSP, crypto adoption in the Philippines has increased over the past few years due to the COVID-19 pandemic. As such, Bit...

Miners are a glimmer of hope in a barren Bitcoin landscape this week ahead of a key Federal Reserve event in Jackson Hole. Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and the fear across crypto markets is clearly visible. As some call for new lows and others warns of a difficult few months ahead, there is plenty for bulls to contend with on both long and short timeframes The United States Federal Reserve’s annual Jackson Hole symposium is due this week, while September is already due to form something of a showdown when it comes to Inflation and associated macro price triggers. That could mean fresh volatility across risk assets both during and prior, something weary investors will no doubt not welcome after last week's escapades on BTC/USD. Related: 3 reasons why the Bitcoin price bottom is not i...

Order book data shows bids and asks narrowing as stocks inch higher and the U.S. dollar bounces back from a previous slip. Bitcoin (BTC) stayed strictly rangebound on Aug. 24 as buyers and sellers attempted to spark a breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Spot price squeeze on the cards Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $21,500 at the Wall Street open. The pair had seen little action in the 24 hours prior, entering the fifth day of sideways movement within an increasingly tight range. Data from the order book of major exchange Binance uploaded to social media by on-chain monitoring resource Material Indicators hinted that the status quo was frustrating exchange users, including whales. At the time of writing, bids were inching higher towards spot price , while seller interest was building at $21,600. The result could be volatility as liquidity reduces the range in which BTC/USD floats — either to the upsid...

A familiar tale of losing stocks and a surging greenback greets Bitcoin traders this week as $20,000 fails to sustain as support. Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the Inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to improve the mood, and BTC price action has returned to focus on areas below $20,000. In so doing, multiple weeks of upside have effectively disappeared, and in turn, traders and analysts expect a retest of the macro lows seen in June this year. While all is now quiet regarding the Fed until the September rate hike decision, there is still plenty of room for upset as geopolitical uncertainty and inflation persist, the latter still increasing in Europe. However, as last week, Bitcoin appears fundamentally resilient as a netw...