Category: Cryptocurrency News

I'm tired of seeing so many posts about a "bear market" during a dip. We are in the middle of a healthy bull run, and dips are going to happen! If everything only went up during a bull run everyone would be rich. We can't go up tens of thousands without having some drawback/crab market…
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Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms. The total amount of money deposited at DeFi services has spiked from just $500 million in 2019 to $247 billion this year. Related Reading | Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million According to a report from London-based firm Elliptic, the overall losses caused by DeFi exploits have totaled $12 billion in the past year. Out of that amount, fraud and theft accounted for $10.5 billion, seven times the amount last year. DeFi, which has drawn in billions of dollars in investor funds, has also been a frequent target by hackers. They exploit poorly protected protocols, mostly using flash loans. Related Reading | Poly Network Confirms Hacker Has Returned Most Of The Stolen Crypto One of the popular attacks this year was the Poly Network hack. Hackers exploited a vulnerability in the multi-chain interoperability protocol. And they took off with roughly $600 million worth of various cryptocurrencies. They however returned most of the stolen funds. DeFi – The Wild West Of Cryptocurrencies Elliptic is a firm that tracks movements of funds on the digital ledgers that underpin cryptocurrencies. It recently reported that DeFi exploits amounted to $12 billion this year. DeFi is often called the “Wild West” of cryptocurrencies because it is still the most unregulated area of crypto. DeFi platforms allow users to lend, borrow and save – usually in cryptocurrencies – without any involvement from middlemen like banks. “The DeFi ecosystem is an incredibly exciting and fast-moving space, with financial services innovation happening at light speed,” said Tom Robinson, chief scientist at Elliptic. “This is attracting large amounts of capital to projects that are not always robust or well-tested. Criminal actors have seen the opportunity to exploit this.” According to the report, the underlying technology of DeFi is built on open infrastructure. However, that technology is “relatively immature and untested.” There are bugs in code as well as design flaws that enable criminals to target the platforms. DeFi market cap at $165.47B | Source: Crypto Total DeFi Market Cap on TradingView.com “Decentralized apps are designed to be trustless in that they eliminate any third-party control of users’ funds,” said Robinson. “But you must still trust that the creators of the protocol have not made a coding or design mistake that could lead to a loss of funds.” Criminals can also easily launder proceeds of crime while leaving few traces. “The irreversible nature of crypto transactions make it very challenging to recover these funds,” says the report. Call For Regulation With the alarming number of exploits the space is facing, there are calls for DeFi regulation. Regulators are now also turning attention to the sector. However, the actions of regulators in the coming months will play a significant role in determining how well they thrive in the future. Featured image by Aergo, Chart from TradingView.com

Inflation in the U.S. has a large number of Americans worried about the future of their purchasing power as the cost of goods and services has continued to rise faster every month. Reports note that Americans are struggling to pay for child care, groceries, gasoline, lumber, healthcare supplies, and used vehicles. On Friday, Harvard economist […]

Decentralized applications (dapp) are becoming a popular technology in the investment market, especially when it comes to cryptocurrency. What makes dapp different is that even though they offer a similar layout and functionality to a standard phone and web application, they do not run on corporate servers. Instead, dapps run on a blockchain or peer-to-peer network. Thus, no single company or user is controlling them as they are community-driven. With no central authority running the dapps, this platform is independent of interference by corporations, governments, and individuals. Moreover, decentralized applications eliminate the downtime, meaning if a server shuts down, another network takes up the load and keeps the dapp working. Therefore, the Decentralized Finance (DeFi) ecosystem is majorly dependent on dapps these days. They have been a game-changer for the Blockchain world. BNBMatrix For Yield Farming Every day a new dapp offers new earning opportunities and numerous benefits to crypto investors. Now, with multiple dapps out there, one stands out as the best, i.e., BNBMatrix.io – a yield farming smart contract on the Binance Smart Chain (BSC). Yield farming is one of the biggest growth drivers of the Defi sector and, currently, the hottest topic in the crypto space. So, what is yield farming? It’s an investment strategy to grow crypto and earn more. DeFi Yield Farming continues to boom in the crypto space and so far in 2021, the investors have gained over 60% returns! (Source: Medium) The Idea Behind BNBMatrix BNBMatrix.io is a Smart Contract-based platform on the Binance Smart Chain (BSC). It promises high ROI (Return on Investment) in minimal time and resources. You can get high profits on daily investments of as low as 0.01 BNB. As the name suggests, this dapp allows you to deposit only one type of crypto asset, BNB, to earn high interest. Return On Investment on BNBMatrix BNBMatrix yield farming gives the users the opportunity to earn daily rewards. They can generate a daily return on their deposits from 7.8% to 17% depending upon the deposit period they choose – 7 to 30 days. Thus, the total ROI ranges from 119%-234%! Key Features of BNBMatrix 1. High-Profit Margins  The users can earn a daily ROI of 7% to 17% and a total ROI of 119% to 234% based on the deposit period (7 to 30 days). For example, if you lock your BNB for 7 days, you get a 17% ROI. With such high-profit margins, BNBMatrix is one of the highest ROI yield farms on BSC. 2. User-friendly  BNBMatrix has a simple, clean, and uncluttered user interface, making it an easy-to-use dapp. 3. Quick Deposit and Withdrawals The deposit and withdrawal processing is super quick and hassle-free. All you have to do is connect your decentralized wallet by scanning the QR code or logging on to the desktop. BNBMatrix supports 4 different BNB wallets on desktop browsers, including Ledger Live, Infinity Wallet, Encrypted Ink, and Wallet 3. Whereas, it supports 64 different wallets on mobile browsers. 4. Safe and Secure  BNBMatrix seems too good to be true but it is 100% legit. The platform has been thoroughly audited by Haze Crypto. The audit reported no backdoors, vulnerabilities, and scam scripts. Thus, declaring BNBMatrix a safe and secure platform for yield farming in the BSC network. 5. 24/7 Customer Support BNBMatrix has round-the-clock customer service available to assist the users. Users can reach the support staff through live chat on their Telegram and other social media channels for any queries and concerns. 6. Referral Program BNBMatrix also has a 5-level referral program. After investing, users will receive a referral link to share with friends. Then, they get a percentage of the referral’s deposit amount (ranging from 5% for Level 1 to 0.5% for Level 5). The increased referral rewards will add to the investor’s deposited amount – more deposits mean more ROI! Is BNBMatrix Worth the Hype? Yield farming is laden with Smart Contract risks, liquidation fraud, and exit scams. BNB Matrix Smart Contract is supposed to be safe and impenetrable from all such risks. Moreover, the clean user interface, quick processing, and high ROI have gained BNBMatrix record-breaking deposits of over 2000 BNB in just the first ten days. So, is BNBMatrix worth the hype? It seems so as so far, there is no indication to say otherwise. However, as always, don’t forget to do your own due diligence before investing in any platform.

Dear Johnny, I’m writing to you because this is my last resort. I am a Kucoin customer who has had his BCHA/XEC coins locked on your exchange for six months. Here are some of the emails I’ve gotten each time I’ve asked about withdrawals: ​ https://preview.redd.it/rxo4r9ujjs081.png?width=2032&format=png&auto=webp&s=0ea97704f3f08747c880505bb2fb0f15f14148f5 https://preview.redd.it/o98tnr4ljs081.png?width=1988&format=png&auto=webp&s=07eedd7b364ab5090ea03e2f8ebf5311327f2b23 https://preview.redd.it/o117h0onjs081.png?width=2030&format=png&auto=webp&s=d5941648e0518fa4cb46b784259018cbbd9a0df7 As you can see, all I’ve gotten…
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The SEC rejecting VanEck’s spot ETF started a price reversal for Bitcoin as the regulator’s outlook on cryptocurrencies is revealed further.

Where Bitcoin leads, altcoins usually follow — but the smartest crypto traders manage to turn BTC dips into buying opportunities.

Ten members of the U.S. House of Representatives have called on House Speaker Nancy Pelosi to address the problem with the crypto provision in the infrastructure law. They explained that the current definition of a broker in the law “would increase uncertainty in the cryptocurrency industry, pick winners and losers … all while eroding our […]

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