Jordan Belfort, the former stockbroker whose memoir was made into a film starring Leonardo DiCaprio, has warned about investing in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB). Belfort explained that “People are taking advantage of an unregulated market,” emphasizing that “The sooner governments step in the better it is for crypto.” The Wolf […]
I'm looking for new crypto projects, but I stumbled upon something I think is worth sharing here. Hashed (it's a venture capital firm) launched a USD 200 million fund that plans on growing Web3 startups. The focus here is likely metaverse, blockchain games, NFTs, and even DeFi. It's then safe to assume the next big…
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Indian crypto investors will reportedly be given a certain time frame to declare their crypto holdings, and must then hold their assets on crypto exchanges regulated by SEBI.
I have almost always had the same amount of dollar value in BTC and ETH with BTC always being a couple hundred to a thousand more than ETH. But I just looked at my cold wallet and my ETH is a couple hundred MORE than BTC. Way to go ETH hodlers submitted by …
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Without doxxing myself, I've been a CPA (specifically, a tax accountant) in the US for about 10 years. Recently at my firm, I've been included in a small group of professionals forming a network of crypto tax consultants and specialists. As I truly love the crypto community, the best contribution to this sub I can…
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There are high ceilings and low floors when it comes to crypto at times. Another hack came to life this week, and early reports have stated that the hack was a front-end compromise that led to users being tricked into approving unwanted transactions. The news comes after a $35M DeFi hack of the Vee Finance protocol in recent months, and our team at NewsBTC reported around mid-year that crypto hacks and fraud were on pace for a record year. This week’s BadgerDAO compromise is one of DeFi’s biggest yet. BadgerDAO Hack: What We Know The protocol cited “reports of unauthorized withdrawals of user funds” on late Wednesday, and proceeded to pause all smart contracts on the protocol: Badger has received reports of unauthorized withdrawals of user funds. As Badger engineers investigate this, all smart contracts have been paused to prevent further withdrawals. Our investigation is ongoing and we will release further information as soon as possible. — ₿adgerDAO 🦡 (@BadgerDAO) December 2, 2021 The BadgerDAO Token (BADGER), suffered a roughly 20% drop following the news of the hack. The platform is geared towards earning yield on bitcoin through various vaults. Blockchain auditing firm PeckShield reported in the early hours on Thursday that the loss was north of $120M, spanning across over 2 BTC and over 150 ETH and going all the way across. However, a variety of assets were compromised during the hack. There were several big wallet losses, including a $5M swoop in one transaction. PeckShield has also released a list of transactions of the hacked funds, but also in the early Thursday hours stated that it “look(s) like good progress has been made. Fingers crossed!” All things considered, the BADGER coin has held up relatively strong in light of this week’s hack. | Source: BADGER-USD on TradingView.com Related Reading | Cardano Records Over 20 Million Transactions Ahead Of DEX Launches Backlash & The Bigger Picture As to be expected, the community reception to this news was less than ideal. Many Twitter replies from users noted their heartbreak from loss of funds. Some users even went on to suggest that the hack was a rug, given that it was seemingly a front-end attack. Some further speculation came around a loss of funds from CeFi platform Celsius Network. However, thus far, the notes around Celsius seem to be only rumors with little substance. Only time will tell if more firm details come to light, or if Celsius makes a statement around the rumors. Furthermore, many community members noted that the protocol “pausing” the smart contracts – as sensical as it is to protect user funds – goes against the principles of decentralization. The continued emergence of insurance programs should bode well for DeFi in general. Our team at NewsBTC wishes only the best for the BadgerDAO protocol and it’s users. Related Reading | Bitcoin And Omicron: Is Another Black Swan Brewing? Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
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