BNB Chain has been stolen by hackers for nearly $100 million, while the Korean attempt to arrest Do Kwon seems to be ineffective, the former CEO of Celsius withdrew $10 million before leaving the company. Let’s review the main news of the market with CoinCu this week.
Market figures for the week
The crypto market’s capitalization: On October 6, the market cap hits a weekly high at $974 million, yet it hasn’t crossed $1 billion yet, according to CoinMarketCap.
Trading activity dropped significantly: The average trading volume of the week was just $62.3 million, recording a decrease of 18% compared to the previous week.
The Cryptocurrency Fear & Greed Index: The index reached 26 at “Fear” on October 6, however it quickly returned to “Extreme Fear” the next day with 23 points.
Interesting news of the week
MicroStrategy Is Experimenting With Bitcoin And Building SaaS Platform Using The Lightning Network
As the company looks for a Bitcoin lightning developer, MicroStrategy seems to be doing more than merely holding Bitcoin. For more specific information, you can read the article below:
Solana Continues Having Another Outage
According to Solana statistics, a misconfigured node led the Solana network to cease processing transactions and go down last Friday, the fifth significant outage for the popular blockchain since January, when it had a spate of partial outages throughout most of that month. For more specific information, you can read the article below:
CME Group Considers Derivatives Trading
The world’s leading derivatives marketplace CME Group is proposing its plans to provide derivatives trading, following its competitors Sam Banman-Fried’s FTX.US. For more specific information, you can read the article below:
Coinbase Users Are Unable To Take Payments Or Make Withdrawals Involving US Bank Accounts
According to a status report issued by Coinbase on Sunday, transactions from US clients have been temporarily suspended. The problem prevents users with US bank accounts from making withdrawals, deposits, or purchases on the platform. For more specific information, you can read the article below:
Transit Swap Has Been Attacked By Hackers, Lost About $21 Million
Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost around $21 million as a result of a hacker exploiting an internal fault in a swap contract. Following the finding, the DEX apologized to users and is working to locate and retrieve the stolen monies. For more specific information, you can read the article below:
Celsius Network Ex-CEO Mashinsky Withdrew $10 Million Before The Bankruptcy
Alex Mashinsky – founder of Celsius Network – withdrew $10m just weeks before freezing all customers’ accounts, heading to the firm’s bankruptcy. For more specific information, you can read the article below:
Kim Kardashian Fined $1.26 Million By SEC For Illegal EthereumMax Advertisement
Kim Kardashian has been charged by the US SEC for illegally promoting the EthereumMax token on social media. The star has agreed to pay a $1.26 million fine and will work with the SEC on its ongoing investigation. For more specific information, you can read the article below:
Three Arrows Capital Behind Moving Over 300 NFTs To Gnosis Safe Addresses
Starry Night Capital, an NFT fund backed by Three Arrows Capital, is moving over 300 NFTs it previously purchased to the Gnosis Safe address. Their total value is currently around 625 ETH, or about $840,000. For more specific information, you can read the article below:
The IP Of OKX Was Blocked By The Russian Prosecutor General’s Office
According to Roskomsvoboda, a local NGO (non-governmental organization) that monitors internet censorship, the website of OKX, a Seychelles-registered crypto exchange, has been blocked in Russia.
South Korea Said Do Kwon Needs To Return His Passport Within 14 Days
According to a notice on the website of the Ministry of Foreign Affairs of South Korea, Do Kwon has been ordered to return his passport within 14 days, otherwise, it will be administratively invalid. The government said the notice was being posted publicly due to an “inability to deliver” the passport return order. For more specific information, you can read the article below:
Binance Bridge Hacked: BNB Chain Exploiter Has Bridged Around $89.5M
A Binance immediately stopped withdrawals and deposits while BNB Chain was mined and hackers stole millions of dollars. According to the latest news from PeckShieldAlert Twitter Account – the real-time scam tokens and phishing sites detection – BNB Chain exploiter has bridged approximately $89.5M. For more specific information, you can read the article below:
Bitcoin, another week saw bleak trading as it continuously rose above $20,000 and lost again. It seems that the market has not had a special catalyst when US stocks are also on the way to being restrained. Follow CoinCu to follow market volatility news through daily and weekly news updates.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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