CoinCodeCap Weekly Glance: 19 March – 25 March

The week started with a security breach. An unregulated third-party obtained access to BlockFi’s client information via Hubspot. BlockFi assures that its systems and funds have not been affected. 

A piece of good news for the people of Malaysia, the Malaysian Ministry of Communications and Multimedia (KKMM), is reportedly supporting cryptocurrency adoption. In addition, ASEAN Countries like Thailand, Singapore, etc., are highly optimistic about Cryptocurrencies and Blockchain Technology.

The Monetary Authority of Singapore (MAS) has conceded an in-principle approval to Digital Treasures Center (DTC) along with Coinhako, Hodlnaut, and Paxos. As a result, the company will now be able to provide fiat-to-crypto pairing. 

The NFTs of Arthur, founder of DeFiance Capital, were hacked. The suspected reason was that the mobile hot wallet was attacked. As a result, more than 20 NFTs, including Azuki and CLONE X, were transferred to the hacker address.

Umbrella Network notified a hack through its Twitter page. The hack reportedly led to a loss of $700k. This hack has been possible due to an underflow in withdrawal that was unchecked. This led to users withdrawing money from the pool even with zero balance.

A good piece of news for Florida, the Governor of the State, Ron DeSantis, has commented on the payment of taxes using digital currencies. In a discussion during the signing of the Financial Literacy Bill, the governor said that he had instructed the state agencies to find ways to allow businesses to pay taxes in cryptocurrency. 

BIS joint venture will allow Institutions to use CBDCs for International Settlements. The project was divided into three workstreams. Three critical questions were identified during the project.

Two defendants have been charged with money laundering schemes, and both of them were involved in several “rug pulls” as well. In a press release from the Attorney’s office, it has been revealed that the defendants were even planning to launch another set of NFTs named “Embers.” They expected to gain almost $1.5 million in cryptocurrencies. 

Meebits’ stock price soared before Yuga Labs bought it, followed by insider trading accusations. According to PeckShield data, 14 Ethereum addresses (with no past history of buying mainstream NFT collections) purchased 159 Meebits between March 5 and March 11, prompting insider trading charges.

In Singapore, the High Court has awarded the recognition of cryptocurrency as property. The High Court has issued proprietary injunctions against unknown individuals suspected of stealing cryptocurrency. The Court also issued disclosure orders against cryptocurrency exchanges that held the cryptocurrency, requiring them to provide materials to aid in asset tracing.

LootMogul is a multiverse blockchain gaming platform that brings together sports influencers and followers. Lisa Leslie has joined LootMogul as a brand ambassador and business partner. She is the first player to slam in a WNBA game, a three-time WNBA MVP, and a four-time Olympic gold medalist. 

Exxon Mobil Corp. is running a pilot program that uses excess natural gas that would otherwise be burned off from North Dakota oil wells to power cryptocurrency mining operations. Exxon is considering similar pilots in Alaska, Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta shale field, Guyana, and Germany.

Default image
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

Can’t find what you’re looking for? Type below and hit enter!