Crypto News and Updates

The FBI and the UK’s GCHQ have issued a joint report warning users about a new malware called ‘Infamous Chisel’ that targets Android devices. The malware, linked to the Russian cyberwarfare unit Sandworm, is specifically designed to extract sensitive information from compromised mobile devices, including crypto wallets and exchanges. The report highlights that Infamous Chisel lacks concealment techniques, taking advantage of the absence of host-based detection systems for Android devices. …

Bitcoin’s price performance in August has left bulls disappointed, with BTC coming full circle to finish the month on a grim note. The price action suggests that Bitcoin is headed for a long-term support retest as it falls below $26,000. Market participants had hoped for bullishness, but a delay in Bitcoin spot price ETF applications by the SEC caused a sharp decline. On-chain data indicates that BTC lacks strong support below $25,400, and it could correct down to $23,340. Material Indicat…

A recent report from a Chinese court declared that virtual assets, despite a blanket ban on cryptocurrencies, are considered legal properties and are protected by law. The report acknowledged the economic attributes of virtual assets and emphasized the need for balanced protection of personal property rights and social interests. This stance highlights a contrast between China’s national policy on virtual assets and the court’s recognition of their legal status.

In the upcoming trial of FTX co-founder Sam Bankman-Fried (SBF), court filings reveal that SBF may pay his expert witnesses over $1000 an hour for their testimony. The proposed witnesses, including Lawrence Akka, Thomas Bishop, Brian Kim, Joseph Pimbley, Bradley Smith, Peter Vinella, and Andrew Di Wu, will provide insights on various topics. Former Federal Election Commission Chairperson Bradley Smith, for instance, will charge $1200 per hour to testify about campaign finance laws and stra…

The cryptocurrency exchange OKX is set to enter the Indian market by hiring local employees and understanding the culture. With a focus on scaling up its wallet services through collaboration with India’s developer community, OKX aims to add value to the local ecosystem. Despite already having 200,000 user wallets in India, the company sees this as a small fraction of the potential Web3 users in the country. OKX, the 6th largest cryptocurrency exchange globally, plans to work closely with …

A new zero-knowledge proof (ZK-proof) technology called Storage Proofs has been introduced to enhance access and verification of historical data on the EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically.. This technology, developed by Herodotus in collaboration with StarkWare, utilizes storage proof cryptography, eliminating the need for third-party involvement. By leveraging StarkWare’s STARK proving, the solution enables users to verify data from any point in Ethereum’s blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically.. The on-chain accumulator, acting as a…

In 2023, cybercriminals have targeted the crypto space and caused over $997 million in losses through flash loan attacks, exit scams, and exploits, according to CertiK, a blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically. security firm. In August alone, malicious actors stole more than $45 million in digital assets. Notable incidents include the Zunami Protocol attack, which resulted in $2.2 million in losses, the Exactly Protocol exploit with $7.3 million lost, and the PEPE coin withdrawal incident leading to $13.2 million in l…

Attorney Patrick V. Kennedy from McDermott Will & Emery has filed a motion to represent the Chamber of Digital Commerce in the Coinbase vs. U.S. SEC lawsuit. Kennedy aims to halt the SEC’s efforts to regulate the digital asset sector and believes that Congress should be responsible for crafting cryptocurrency regulations. Coinbase executives and lawmakers are optimistic about the lawsuit’s dismissal and have criticized the SEC’s lack of clarity in distinguishing which cryptocurrencies qual…

The People’s Fund of Maui, initiated by A-list celebrities Oprah Winfrey and Dwayne ‘The Rock’ Johnson, aims to provide direct financial support to those affected by the devastating wildfires in Maui, Hawaii. The fund accepts donations in various fiat currencies as well as popular cryptocurrencies like Bitcoin (BTC), EtherEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. (ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.), and Doge (DOGE). With 100% of the donations going to the victims, the fund offers $1200 per month to adult residents who were displaced by the wildfires in Lahain…

A bipartisan committee of British MPs is urging the government to prioritize the rights of musicians and creators over AI developers. The committee warns against the government’s plan to exempt text and data mining by AI from copyright protections, stating that it reduces arts and cultural production to mere ‘inputs’ in AI development. The report emphasizes the need for the government to regain the trust of creative industries and improve protections for artists amidst the growth of genera…