Vela is a derivative cryptocurrency exchange that recently came to light for not giving the user his profit. He started his ETH / USD Perpetual long x29.9 at $1431, but the exchange forcefully closed his long at $1999.99, which gave him a whopping 1543.11 percent profit.
We have some more bad news about SushiSwap. Today, the SushiSwap’s RouterProcessor2 contract was hacked for about 1800 Ethereum which is about 3.3M dollars at current ETH’s price. The hacker exploited the approve related bug.
Arbitrum Foundation has made it clear that the 10M ARM tokens that they sold recently were done to fund pre existing contracts and cover near-term operating costs. One such cost was to cover $3.5M setup costs. Since the DAO organization was established and intended to involve users, the traditional thinking of small team decision-making in companies should be changed. After all, web3 projects come from users and grow with the support of users.
Do Kwon, creator of Luna coin has been arrested in Montenegro after he was caught using false document to evade capture.
Sushiswap DEX is in deep trouble as their head developer has been served with SEC subpoena. This has called for a legal defense fund that will provide coverage for attorney fees. Amount if you may ask? $3M which will be sent for Kanpai fees, grants and sushi TWAP market sells.
Kraken is pushing past the regulatory hurdles and is on track to launch their very own bank. With their own bank, they’ll be able to better serve customers as there would be no interference on crypto transactions. A banking license along with a digital asset one can actually position it well in the market.
RW00142 Your account may be at risk. In order to keep your funds safe, withdrawals have been temporarily disabled. Please contact Customer Support for further assistance. This is the dreaded error code that you would never want to come across. This Binance withdrawal error is code is allegedly triggered to safeguard the funds.
Platypus DeFi that claims to redefine stableswaps and reinventing stablecoins was recently hacked for whopping 8.5 million dollars in total. The developers have confirmed this hack on their official twitter account and have already informed various cryptocurrency exchanges to freeze the funds of the hacker. USDT held by the hacker has already been frozen.
If you use Binance cryptocurrency exchange and live in US, this is important. Binance has announced that it would be suspending USD deposits and withdrawals starting 8th of February 2023. After 2200, any USD sent to Binance’s USD accounts would be rejected and returned back to sender.
