Senate Says Iran Leans on Tether’s USDT: Is Its $550 Million Freeze Record Enough?

Senate Democrats found 84% of more than 800 sanctioned Iran-linked crypto wallets used Tether’s USDT exclusively or predominantly. The same day, Tether said it has helped freeze about $550 million in Iran-linked USDT this year. USDT is a stablecoin, a digital token pegged one-to-one to the US dollar. Tether, the company that issues it, can […]

Chainlink’s CCIP 2.0 Launch Marks Key Upgrade for Digital

Chainlink has announced the launch of CCIP 2.0, an upgrade designed to strengthen digital finance systems. This significant development, highlighted by Aave, underscores Chainlink’s commitment to advancing onchain finance and enhancing asset management capabilities. The upgrade is indicative of a broader trend toward improved infrastructure in the blockchain space, enhancing the potential for asset integration […]

Solana’s Community Engagement Peaks

Solana’s community is buzzing with activity as recent events amplify engagement. The excitement stems from the WSOP Solana Showdown, which crowned its first champion, and an upcoming voting initiative that invites community participation. These developments signal a growing momentum for Solana, as community involvement is essential for its strategic growth. For more details, visit Coinfomania. […]

Bitget CEO says $388M hack exploited third-party security vulnerability

Bitget CEO Gracy Chen said the crypto exchange’s recent $388 million exploit stemmed from a vulnerability in a third-party security product that allowed the attacker to obtain “high-level internal credentials.”In comments to Cointelegraph, Chen said the attacker used those credentials to issue fraudulent withdrawal commands. Bitget’s private keys were not compromised, and its cold wallets were not affected, she said.Bitget said it has since addressed the security flaw and tightened its withdrawal controls, including restricting internal access, adding independent verification for withdrawals and increasing monitoring for unusual activity.The attack occurred on Sept. 24, when Bitget detected unauthorized transfers from several of its hot wallets and temporarily suspended withdrawals. The exchange initially estimated that about $352 million in assets had been affected.Related: Bitget resumes Bitcoin withdrawals as hacker swaps ETH via THORChainBitget has yet to disclose recovery figuresThe exchange has not disclosed how much of the stolen crypto has been recovered or frozen. Chen said some assets have been frozen with help from other industry participants, but Bitget would release a total only after verifying the amounts.Bitget had previously called on THORChain, a protocol for swapping assets between blockchains, to refuse services to addresses linked to the attack.The exchange said it is not asking THORChain to halt its network as it attempts to prevent the stolen assets from being moved. THORChain has said it cannot selectively blacklist individual addresses.“We understand that THORChain operates as a decentralized protocol and has said that it cannot selectively blacklist individual addresses. We respect the technical constraints of different networks and are not asking any protocol to take actions that are not technically possible,” Chen said.Chen also addressed Bitget’s earlier suspicion that North Korea may have been behind the attack.“What was shared previously was based on preliminary indicators identified during the investigation,” Chen said. “Those indicators are still being assessed. Mandiant and SlowMist are supporting the independent forensic investigation, and that work is ongoing. We will share further findings as they are verified,” she added.Additional reporting by Helen Partz.Magazine: THORChain under fire over Bitget, ETH evolves beyond blockchain: Hodler’s Digest

AI Crypto Coins Revenue Gap Puts Token Value to the Test

AI crypto projects are drawing major investment and attention, but Bittensor and Render show why revenue and token value capture matter to investors. The post AI Crypto Coins Revenue Gap Puts Token Value to the Test appeared first on Cryptonews.

AI Crypto Coins Revenue Gap Puts Token Value to the Test

AI crypto projects are drawing major investment and attention, but Bittensor and Render show why revenue and token value capture matter to investors. The post AI Crypto Coins Revenue Gap Puts Token Value to the Test appeared first on Cryptonews.