Hacking for $160 million and the fall of bitcoin. Highlights of the week

Hacking for $160 million and the fall of bitcoin. Highlights of the week

Manipulation of prices allowed the fraudster to withdraw $500,000 from GMX exchange, Ripple capitalization grew by $3 billion for two days, eco-activists urged the U.S. authorities to limit bitcoin mining and other events of the past week


Bitcoin fell below $18.5 thousand.

The first cryptocurrency continued to fall and fell by more than 8% during the day, having updated the minimum since mid-June

Price manipulation allowed a fraudster to withdraw $500k from the GMX exchange

The platform's native token lost more than 20% of its value after the attacker's actions were discovered

The first hack of the Ethereum hardfork resulted in the loss of $1k.

Hacker took advantage of OmniBridge protocol vulnerability and withdrew funds in new tokens

SEC says all Ethereum transactions fall under U.S. jurisdiction

In a lawsuit against prominent member of the cryptocurrency community Ian Balin, the agency said that all transactions on the second cryptocurrency's blockchain take place in the United States.

Hackers stole more than $160 million worth of crypto assets from Wintermute

The attack affected 90 different assets involved in DeFi transactions. Centralized exchange services and over-the-counter activities were not affected

MicroStrategy bought bitcoins for a further $6 million

It acquired 301 coins this time at an median value of $19,800.

U.S. Congress approved legislation against sanctions evasion via cryptocurrencies

The document includes a series of measures aimed at limiting the use of digital currencies to reduce the effectiveness of U.S. sanctions

"White hacker" made more than $530,000

A programmer known by the nickname Riptide discovered a bug in the Arbitrum protocol code that could have resulted in millions of dollars in lost cash

Ripple's capitalization rose $3 billion in two days

Altcoin rose 17%, while other leading cryptocurrencies fell in value

South Korea confiscates $185 million in cryptocurrency taxes

Authorities block assets of defaulters and sell them at market price

The head of JPMorgan called bitcoin a "decentralized financial pyramid."

But staplecoins backed by a dollar or other fiat currency can be used in transactions if properly regulated, he said.

Eco-activists called on U.S. authorities to limit bitcoin mining

According to recent reports, the carbon footprint of the mining industry in the States equals the emissions of 6 million cars a year

Former BitMEX exchange head predicted bitcoin to fall to $17,500

Despite likely testing the June lows, the value of the first cryptocurrency will rise as the economic standoff between East and West intensifies, says Arthur Hayes


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