The buggy function was intended to allow users to provide their own routing information, but the code did not limit routers to a preapproved list. The multichain exchange aggregator Dexible has been hit by an exploit, and $2 million worth of cryptocurrency has been lost as a result, according to a Feb. 17 post-mortem report…

Nearly 10,000 tokens launched on BNB and Ethereum last year are suspected to have been created just to dump on investors, according to Chainalysis. Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all…

The regulator receives thousands of consumer and investor complaints about possible crypto scams each year, and it appears it’s done something with the information. The California Department of Financial Protection and Innovation has launched a new crypto scam tracker to help traders and investors spot possible industry threats. zDFPI launched the tracker on Feb. 16. It’s based…

The new proposals set forth by the Gensler-led Securities and Exchange Commission seek to “expand the scope” of rules set out by the 2009 Custody Rules. A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve…

With exchanges losing banking partners, experts are beginnig to warn of a widening relationship between crypto firms and traditional banks. Binance, the world’s leading crypto exchange by trading volume, will temporarily suspend bank transfers in U.S. dollars. The exchange stated in a tweet on Feb. 6 that no other trading methods would be affected. The announcement…

Abu Dhabi’s technology ecosystem, Hub71, has announced a new initiative called “Hub71+ Digital Assets,” with a capital backing of over US$2 billion. This project aims to advance Web3-based innovations, such as blockchain technology and metaverse applications. The initiative aspires to provide Web3 startups with access to a range of programs, and initiatives, as well as, corporate, government,…

As the metaverse continues to grow and evolve, it is essential that we consider and address the ethical questions and challenges it raises. The metaverse, a virtual environment that simulates reality, offers complex moral dilemmas regarding privacy, ownership and control. These consist of: Privacy: Who has access to and how is personal information used within…

While the Senator did not expand on other details of the upcoming bill, she suggested that DeFi should not be exempt from AML laws. A bi-partisan anti-money laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and DAOs will soon be reintroduced to Congress, according to United States Senator Elizabeth Warren….

Changpeng Zhao, also known as “CZ,” says that the industry may start to use stablecoins pegged to the euro, yen, or Singapore dollar, following recent actions against the U.S. dollar-pegged stablecoin BUSD. The crypto industry will “probably” start using euro, yen, or Singapore dollar-based stablecoins in the future, reducing its reliance on United States dollar-based stablecoins, according…

The North Korean-based hacker outfit Lazarus Group resorted to different privacy mixers attempting to anonymize the stolen funds, but it didn’t work. Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridge attack on Jun. 24, 2022. Around $1.4 million worth of crypto frozen by the trading platforms…