Author: Kryptonews

Iranian crypto exchange Nobitex has suffered a major security breach, resulting in the loss of over $48 million.The company confirmed the attack via an X post on June 18, revealing that the incident targeted its hot wallets. It stated:“This morning our technical team detected signs of unauthorized access to a portion of our reporting infrastructure and hot wallet. Immediately upon detection, all access was suspended and our internal security teams are closely investigating the extent of the incident.”The drained funds were Tether’s USDT via the Tron network, according to blockchain sleuth ZachXBT.Despite the hack, Nobitex tried to reassure its users…

Cryptocurrency markets are inherently volatile, and Bitcoin, as the market leader, often dictates the overall trend. While technical analysis offers no guarantees, specific indicators and levels are frequently watched by traders and investors to gauge potential future movements. Among these, the 200-week moving average (WMA) holds a prominent position, particularly in gauging Bitcoin’s long-term direction.## Understanding the 200-Week Moving AverageThe 200-week moving average represents the average price of Bitcoin over the past 200 weeks. It’s calculated by summing up the closing prices of those 200 weeks and dividing the result by 200. This moving average is considered a long-term indicator…

To receive Morning Links in your inbox every weekday, sign up for our Breakfast with ARTnews newsletter. Collector Bob Rennie donates 61 artworks to National Gallery of Canada, valued at $16.8 million. The Orange County Museum of Art is in talks to merge with the University of California, Irvine, and the two institutions have signed a “nonbinding, exploratory letter of intent” to that end. Critics are blasting the digitally projected Wrapped Reichstag artwork onto the German parliament, intended to commemorate the artwork made by Christo and Jeanne Claude in 1995.  The Headlines NO STRINGS. Vancouver-based art collector Bob Rennie has donated 61 artworks to the National Gallery of Canada (NGC) in Ottawa, valued…

It’s always fun to hear about new grants as they’re awarded, but what happens after the announcement? In this series, we’ll check in on projects that are well underway – or already at the finish line. Read on to learn about some recent milestones and achievements by grantees! Where applicable, the grant recipient is listed first, followed by the project for which the grant was awarded. Fuel Labs for Optimistic Rollup R&D, SparsENS Fuel Labs is best known for their work on a UTXO-based design for scalable, trust-minimized optimistic rollups. This multitasking team is also developing SparsENS, a stateless ENS…

Key NotesThe surge follows the announcement of Tron Group’s reverse merger with SRM Entertainment.SRM Entertainment’s stock price surged by 533.79% during Monday’s trading session, closing at $9.19.Tron Group is set to go public in the US via a reverse merger with Nasdaq-listed SRM Entertainment, avoiding the traditional IPO process. Tron founder Justin Sun said that SRM Entertainment, aka Tron MicroStrategy, has surpassed tech giants like Alibaba and Tencent in terms of daily trading volume. This happened as the Tron Group announced plans to go public via a reverse merger with SRM Entertainment on Monday, June 16. Furthermore, the Group stated…

Diversifying your investment portfolio is a cornerstone of sound financial planning. While traditional assets like stocks and bonds have long been the mainstays, investors are increasingly looking to alternatives to bolster returns and mitigate risk. In recent years, Bitcoin has emerged as a significant contender in this space, presenting itself as a potential hedge against the US dollar (USD) and other traditional currencies. But is Bitcoin a viable alternative, and what considerations should investors keep in mind? Understanding Bitcoin’s Appeal Bitcoin’s allure as a portfolio diversifier stems from its unique properties. Unlike the USD, which is controlled by the Federal…

Cathie Wood’s Ark Invest sold a combined 300,108 shares of Circle Internet Group on Tuesday across three of its ETFs, continuing to take profit for a second day in a row, this time to the tune of $44.7 million.The move came as CRCL closed in New York Tuesday at $149.15 as it continues to maintain investor momentum after a monster rally during its first days of trading earlier this month. ARK’s trimming of its CRCL position coincided with a major policy milestone: the U.S. Senate’s bipartisan passage of the GENIUS Act, a bill designed to regulate stablecoin issuers like Circle.…

Key Takeaways Iran’s largest crypto exchange, Nobitex, was hit by a cyberattack compromising its hot wallet and reporting infrastructure. Hackers, identified as Predatory Sparrow, claimed responsibility, threatening to reveal source code and user data. Share this article Nobitex, Iran’s largest crypto exchange, appeared to have suffered a major security breach on Wednesday, resulting in over $48 million in losses, according to blockchain sleuth ZachXBT.After the incident surfaced, Gonjeshke Darande, also known as Predatory Sparrow, a pro-Israel hacktivist group, claimed they were behind the attack.The hackers accused Nobitex of helping the Iranian regime bypass sanctions and claimed the Iranian government used…

Spokane, the second-largest city in Washington state, has banned crypto ATMs in response to a surge in scam activity targeting local residents.Spokane City Council said on Monday that it became the first city in Washington to ban cryptocurrency ATMs following a unanimous vote.The measure was proposed by Council member Paul Dillon, who helped to put forward the ban, said that crypto ATMs “have become a preferred tool for scammers looking to defraud unsuspecting victims,” and the ban would “protect vulnerable Spokane residents from scams involving virtual currency kiosks.”Dillon told local newspaper The Spokesman-Review that the measure “will ban future ones, as…

A major Bitcoin exchange has been slapped with a substantial fine for failing to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations, highlighting the growing scrutiny faced by the cryptocurrency industry worldwide. The penalty underscores the increasing pressure from regulators to bring digital assets under established financial frameworks to prevent illicit activities and protect investors.## Details of the Regulatory InfractionThe specific regulatory body involved levied the fine after a comprehensive investigation revealed significant deficiencies in the exchange’s operational practices. These shortcomings included, but were not limited to, inadequate procedures for verifying the identity of customers, insufficient transaction monitoring systems…