CoinCodeCap Weekly Glance: 05 March – 11 March

The week started with a hack. Bacon Protocol was hacked. Reportedly $1M was Lost. The hack was made possible due to a reentrancy bug in the lend() routine so that the hacker can get more lending credits via re-entering the lend() routine.

Wu Blockchain posted that Pionex had been attacked. The crypto exchange platform ceased the deposit and withdrawal process for the time being. The maintenance and upgrade of the wallet functions were ongoing.

Anton Nell and Andre Cronje say goodbye to Crypto. Anton Nell, the Senior Solutions Architect at Fantom Foundation, stated that he and Andre Cronje will end their contributions to the defi/crypto space. On April 3, 2022, they will discontinue approximately 25 apps and their services.

The updates of the Evmos Network was failed. Users of the network were concerned that they may lose all their evmos. The team has said they do not have all the answers for the users yet. 

According to an official blog post from Coinbase, it has blocked “over 25,000 addresses related to Russian individuals or entities. They have taken this step to play their part in these critical economic sanctions, Coinbase implements a multi-layered, global sanctions program and as a result, they have taken a few steps.

Binance sets up its own Fiat-to-Crypto payments provider. Binance, the biggest name in the world’s most prominent blockchain ecosystems and cryptocurrency infrastructure providers has named Bifinity its official fiat-to-crypto payment service. 

SEC charged two siblings John and JonAtina (Tina) Barksdale. They both were charged with defrauding thousands of retail investors. According to the SEC’s complaint, the Barksdales offered and sold Ormeus Coin to investors on cryptocurrency trading platforms from June 2017 to the present.

The Cyprus financial market regulator, CySEC, has approved the European domain of FTX’s platform. Through an unnamed investment entity permitted to operate within the European Economic Area, FTX Europe will offer products and services throughout the European Economic Area.

Laura Shin disclosed on Twitter a text questioning Hoskinson’s credibility of even graduating. Ethereum co-founder Hoskinson tweeted in 2018, “I graduated but did not complete a PhD. I will return and finish it after I retire.”

Secretary of the Treasury comments on President Biden’s Executive order on digital assets. Soon after that Biden finally issues the Executive order on digital assets. The primary focus of the order lies in national and consumer security. 

The online crypto exchange platform, Coinbase has recently sent an email to its users asking to update more personal information. Few users were enraged after receiving this email and found the questions asked by the cryptocurrency company as “privacy-violating.”

Default image
Editorial Team