Euler Finance Hacker Returns $100M Worth of Ethereum

• Euler Finance was recently attacked in a DeFi exploit that saw $198 million stolen by an unknown hacker.
• The hacker has now returned over $100 million worth of ETH back to the protocol.
• Reports suggest that the perpetrator may be linked to the notorious Lazarus Group.

Euler Finance Flash Loan Attack

Euler Finance, a decentralized lending platform, experienced one of the biggest DeFi exploits in 2023 which saw around $198 million worth of USDC, staked ether, wrapped BTC and DAI siphoned off from the protocol. The vulnerability had been present for over 8 months before it was exploited, leading to speculation about how long it may have gone unnoticed for by those responsible for its security.

Hacker Returns Funds

The hacker behind the attack rejected the $20 million bounty offered by Euler Finance and started laundering portions of their proceeds via TornadoCash. They also took some controversial actions such as returning funds to an Euler user who complained on Twitter about losing money in the exploit. Over this past weekend, two transactions were carried out returning over $104 million worth of ETH back to Euler Finance – 51,000 ETH sent back on March 25th and another 7,737 ETH sent hours later.

Possible Connection To Lazarus Group

Reports have suggested that the perpetrator could be linked to the notorious Lazarus Group – a North Korean cybercrime group known for their global operations which includes cryptocurrency theft and financial frauds amounting to millions of dollars each year across multiple countries. This has yet to be confirmed however as investigations are still ongoing into who is behind this attack and why they decided to return funds after initially rejecting any bounties offered by Euler Finance.

Community Reactions

The community has responded with mixed reactions since news broke out about this attack and subsequent return of funds – some praising their efforts while others remain suspicious about their motivations and intentions for doing so. Some are speculating if this could potentially set up a new trend in future DeFi attacks where hackers ‘return’ funds instead of running away with them or laundering them through other sources such as mixing services or darknet marketplaces..

Investigations Still Ongoing

Investigations into who is behind this attack and why they decided to return funds after initially rejecting any bounties offered by Euler Finance are still ongoing but it’s clear that crypto security remains an issue that needs further attention moving forward into 2021 if we want more users onboarded onto these platforms without fear of potential losses due to exploits like these occurring again in future times when protocols become even more complex than they already are today..

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Solana Soars 8% as Bitcoin Hits 9-Month High: Market Watch

• Bitcoin surged past $28,500 for the first time since June 2022, due to developments in the European banking sector.
• Several altcoins have also marked notable gains, with Solana leading the race.
• The acquisition of Credit Suisse by UBS for $3.25 billion was aimed at securing financial stability and protecting the Swiss economy.

Bitcoin Surges Past New High

Bitcoin has finished one of its best weeks in a while after surging from $20,000 to around $28,000 within the past seven days. This came amid growing banking issues in Europe which extended to Switzerland’s largest bank – UBS – who acquired Credit Suisse for $3.25 billion in order to secure financial stability and protect their economy. As a result of this news Bitcoin surged past a new local peak of $28,500 and is currently trading near that level once again.

Altcoins Also Make Gains

Aside from Solana (SOL), other significant gainers from larger-cap altcoins include STX, CRO, and VET. SOL has been leading the charge with an 8% daily gain while STX is up 4%, CRO 7%, and VET 6%. These increases are likely due to investors seeking returns outside of Bitcoin as well as continued development on these projects which provide more confidence for traders entering these markets.

Solana Leads Gains Among Altcoins

Solana (SOL) has been leading the charge among alts with an 8% daily gain over recent days as investors flock to take advantage of its potential upside. This comes alongside developments on the project such as enhanced scalability solutions which make it even more attractive for those looking to invest into digital assets outside of Bitcoin itself.

Reasons For Rally

The rally displayed by both BTC and altcoins could be attributed to several factors including investor sentiment towards traditional assets such as stocks being low due to macroeconomic uncertainty caused by inflation concerns or regulatory risks – such as proposed legislation targeting cryptocurrency companies in China – driving away institutional money managers from investing into riskier assets like crypto markets instead opting for safer investments like gold or bonds instead resulting in increased demand amongst retail investors instead creating bullish conditions across all asset classes within this space pushing prices higher overall.

Conclusion

In conclusion, bitcoin has reached another milestone surpassing its previous 9-month high thanks largely to developments in Europe’s banking sector which have created a bullish environment across all asset classes within crypto markets including altcoin projects like Solana (SOL). Additionally this rally can be attributed both sentiment towards traditional assets being low due to macroeconomic uncertainty or regulatory risks driving away institutional money managers resulting in increased demand amongst retail investors pushing prices higher overall across the board regardless of asset class type making now an excellent opportunity for traders looking capitalize on these trends before they reverse course again soon enough!

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Multiple Bank Stocks Halted Amid Post SVB Volatility

• Multiple bank stocks stopped trading on the NYSE due to post SVB volatility.
• The Fed bailed out Silicon Valley Bank’s depositors on Monday, however market uncertainty remains high.
• Stocks halted include Western Alliance, First Republic Bank, Charles Schwab and others.

Multiple Bank Stocks Stop Trading Amid Post SVB Volatility

The New York Stock Exchange halted a handful of banking stocks including Western Alliance, First Republic Bank and Charles Schwab on Monday due to share price volatility. This is similar to what happened with Silicon Valley Bank (SVB) last Friday when their stock dropped by 66% before being closed by regulators and claimed by the FDIC.

Fed Agrees To Bail Out SVB And Signature Depositors

The Federal Reserve agreed to bail out depositors of both SVB and Signature Bank in order to protect the banking system. This has caused a collective hammering of the banking sector which is visible in the Nasdaq KBW Index of Commercial Banks which is presently down by 11%.

Other Halted Stocks Include PacWest, Zions And Comerica

Besides Western Alliance, First Republic Bank and Charles Schwab, other stocks that were halted included PacWest (-47%), Zions (-24%) and Comerica (-33%). These stocks have all dropped significantly since Monday’s opening session.

Major Crypto Firms Receive Boost From Banking Sector Woes

The banking sector woes provide an opportunity for major crypto firms such as Coinbase who are now looking ahead at potential acquisitions or partnerships with banks in order to improve their services. Furthermore, many people are now turning towards decentralized finance (DeFi) solutions instead of relying on traditional financial institutions.

Conclusion

While it remains uncertain how long these volatile markets will continue for, it is clear that alternative solutions such as cryptocurrency and decentralized finance can provide an alternative option during times like these where traditional markets may appear unstable or unreliable.

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ADA About to Hit $0.30: Can Bulls Save the Day?

• ADA is quickly approaching the key support at 30 cents
• Bears have total control of the price action, which has remained bearish since mid-February
• Buyers are nowhere to be seen at this time

ADA Price Analysis

Cardano (ADA) had no relief since the support at 35 cents was broken to the downside. With buyers absent, the price has only one direction at the moment. The bias for ADA is bearish and it’s important to see how the market will develop in the coming week following a few important macroeconomic events.

Key Support Levels

The current resistance is at 35 cents, and it will likely not be tested until the cryptocurrency finds support. The key support level for ADA is $0.30.

Trading Volume

The steady sell volume has pushed the price lower almost daily. Buyers are nowhere to be seen at this time.

RSI & MACD Indicators

The daily RSI is at 34 points and may soon reach the oversold area at under 30 points. The daily MACD remains bearish, with the moving averages continuing to fall; there is no sign of a possible reversal yet.
                                              

Short-Term Prediction

The current price action remains bearish, and it’s important to see how the market will develop in the coming week following a few important macroeconomic events.

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SEC Subpoenas Robinhood Over Crypto Operations: What’s Next?

• Robinhood Markets Inc. has received an investigative subpoena from the U.S. Securities and Exchange Commission (SEC) in December.
• The SEC’s move is part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year.
• California Attorney General’s office had earlier served a similar subpoena to the trading platform regarding its trading platform, custody of customer assets, customer disclosures as well as coin listing.

SEC Issued Subpoena to Robinhood Over its Crypto Operations

Robinhood Markets Inc. has received an investigative subpoena from the U.S. Securities and Exchange Commission (SEC) in December, as part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year.

Reason for SEC Subpoena

According to its latest 10-K filing, the subpoena is in regard to the supported assets at its subsidiary Robinhood Crypto LLC, as well as its custody of cryptocurrencies and other platform operations.

SEC Stance on Cryptocurrencies

The SEC previously maintained that the digital asset industry would not be spared by the pre-existing securities laws, thereby signaling that several tokens meet the definition of a security, a stance that the crypto industry vehemently opposed.

California Attorney General’s Office Subpoena

This isn’t the first time Robinhood had been subpoenaed by a regulatory watchdog in the country. A similar subpoena request was served by California Attorney General’s office regarding its trading platform, custody of customer assets, customer disclosures as well as coin listing.

Impact on Robinhood Crypto Revenue

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EtherMail and Blockchain Founders Group Unlock Web3 Comms for Startups

• EtherMail and Blockchain Founders Group have announced a strategic partnership in which eligible portfolio startups may receive rewards of up to $20,000.
• Eligible startups can auto-create a list of token holders and use this data to set up email campaigns and execute tailored communications.
• The Web3 Email for Startups program is open to startups that have raised less than $5 million in total funding and have been incorporated less than five years ago.

EtherMail & Blockchain Founders Group Partnership

EtherMail, the first Web3 Email Solution setting the standard for anonymous and encrypted wallet-to-wallet communication, has today announced a strategic partnership with Blockchain Founders Group, a venture capital fund that focuses on early-stage Web3 startups. The partnership will enable Web3 communications for portfolio projects through the Blockchain Founders Group’s “Web3 Email for Startups” program.

Rewards Program

Startups enrolled in the program are eligible to receive rewards of up to $20,000 spread between EMC tokens, ad credits and cash prizes by creating an EtherMail account and bringing new users to EtherMail. After signing up, projects can auto-create a list of all current token holders through data automatically gleaned from the blockchain. With these up-to-date lists of asset holders, projects can set up email campaigns and execute tailored communications to community members and the wider base of EtherMail users.

Eligibility Criteria

Startups that have raised less than $5 million in total funding and have been incorporated less than five years ago are eligible to apply for the program here. Since closing a $3 million seed round in August 2022, EtherMail has experienced rapid growth in terms of user onboarding, with partnerships established with popular NFT projects such as Probably Nothing, Toxic Skulls Club, In Betweeners and Prime Planet.

Benefits

Through this partnership between EtherMail & Blockchain Foundations Group eligible startups stand to benefit from increased exposure via tailored email campaigns as well as substantial financial rewards through EMC tokens, ad credits or cash prizes – ultimately helping them grow their own project further still.

Conclusion

The partnership between Ethermail & Blockchain Foundations Group is an exciting one which offers great benefits for early stage web 3 startups looking to boost engagement with their communities via targeted email campaigns; while also providing substantial financial rewards at various levels depending on success criteria met by each individual startup!

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Cardano Launches Valentine Upgrade: Secure, Cost-Effective DApps Now Available

• Cardano has launched a Valentine upgrade for SECP cryptographic primitives on the mainnet.
• The update allows developers to create cost-effective and secure cross-chain decentralized applications (DApps).
• The upgrade took place on February 14 at 21:44 UTC.

Cardano Launches Valentine Upgrade

Input Output Global (IOG), the organization behind the Cardano blockchain, has launched a valentine upgrade for its Standards for Efficient Cryptography (SECP) primitives on the network’s mainnet. This upgrade will enable developers to create cross-chain decentralized applications that are secure, cost-effective, and give access to a broader range of services.

What Does It Offer?

The update allows developers to use a broader range of native multi-signature designs to build secure and cost-effective decentralized applications (DApps). Popular signature schemes such as Elliptic Curve Digital Signature Algorithm (ECDSA) and Schnorr are used in Bitcoin, Ethereum, and Polkadot blockchains while Cardano uses Edwards-curve Digital Signature Algorithm (EdDSA) with elliptic curve Curve25519 as its base curve (aka. Ed25519).

When Was The Upgrade Launched?

The upgrade took place on February 14 at 21:44 UTC, at the beginning of epoch 394 around absolute slot height 84844800 and estimated block height 8403208. IOG shared that the variance in cryptographic algorithms and signature schemes across blockchains led to the upgrade.

What Does This Mean For Developers?

This Valentine’s Day upgrade will allow for more efficient transactions between different blockchains which will result in greater flexibility for DApp developers when creating their projects. Furthermore, this will also make it easier for users to interact with various blockchains without having to learn how each one works separately.

Conclusion

The Valentine’s Day upgrades provide an important step forward in making blockchain technology more accessible to developers by allowing them to build projects that span multiple chains while still maintaining security and efficiency standards across all platforms involved.

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Argo Blockchain CEO Steps Down, Interim CEO Appointed

• Argo Blockchain announced that its CEO, Peter Wall, will step down from his post.
• The company appointed Seif El-Bakly as Interim CEO, while Matthew Shaw will become Chairman of the Board.
• Peter Wall thanked all his colleagues for their support and dedication during his three year tenure at Argo Blockchain.

CEO Departs Argo Blockchain

Argo Blockchain announced that its CEO, Peter Wall, will step down from his post after serving for three years. He thanked all his colleagues for their support and dedication during this period.

Interim CEO & Chairman of the Board Appointed

The firm appointed Seif El-Bakly as Interim CEO and Matthew Shaw as Chairman of the Board. The latter commented on Peter’s achievements in driving Argo forward and wished him future success.

Previous CFO Resignation

The announcement follows the CFO and Executive Director – Alex Appleton’s – departure less than a week ago.

Peter Wall’s Farewell Statement

Peter Wall stated: “It has been a great privilege to have led Argo Blockchain over the past three years. It has been quite a journey, and we have come a long way… Onwards and upwards!”

Conclusion

Argo Blockchain is now under new leadership with Seif El-Bakly serving as Interim CEO and Matthew Shaw as Chairman of the Board following the departure of both its CFO and CEO in recent weeks.

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Bitget Expands Copy-Trading: Follow Experienced Traders with One-Click!

• Bitget is a cryptocurrency exchange platform that offers copy trading to novice users.
• They now introduce the One-Click Copy Trading solution to English-speaking countries.
• The platform also has a $300 million Bitget Protection Fund for security and safeguarding customer assets.

Bitget: A Cryptocurrency Exchange Platform

Bitget is a leading cryptocurrency exchange platform that provides users with secure trading environments and 24/7 multilingual customer service. In 2020, they became the first CEX to offer copy trading, which enables new users to explore crypto markets under the guidance of experienced traders.

One-Click Copy Trading Solution

To further facilitate copy trading, Bitget introduces the One-Click Copy Trading product. This product helps novice users take cues from experienced traders in an easier way. With this solution, Bitget expands its reach to English-speaking countries where it can now be used by over 100,000 traders and 338,000 copy traders globally.

Bitget Protection Fund

In addition to its copy trading services, Bitget also offers customers a financial safety net through their $300 million Bitget Protection Fund. The fund is backed by BTC and USDT reserves and ensures that customers’ assets are always safeguarded on the platform.

24/7 Customer Service

As one of its core values, Bitget prioritizes offering quality customer service at all times. All users have access to 24/7 multilingual customer support so that any inquiries or problems are addressed immediately and efficiently.

Conclusion

By introducing innovative products like the One-Click Copy Trading solution and providing customers with a financial safety net through their Protection Fund, Bitget continues to make cryptotrading more accessible in both English-speaking countries and beyond.

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FTX Exchange Seeks Answers From Bankman-Fried Family in Billion Dollar Hunt

• FTX lawyers are seeking answers from Sam Bankman-Fried’s family regarding their wealth and personal fortunes.
• FTX is attempting to recover as much as possible from the missing billions owed to creditors and customers.
• FTX has asked a judge to question Sam Bankman-Fried’s closest relations and company executives under oath.

The FTX exchange is continuing its hunt for hidden assets to repay creditors, and its lawyers have asked a judge to question the family of alleged crypto fraudster Sam Bankman-Fried under oath. According to a court filing, FTX is requesting information from the Bankman-Fried family regarding their wealth and personal fortunes.

Joseph Bankman and Barbara Fried, Sam Bankman-Fried’s parents, are among the people on the list of those the embattled firm wishes to question. The firm is taking an aggressive approach to recover as much as possible from the missing billions owed to creditors and customers. FTX advisers and lawmakers hope that by getting answers from the Bankman-Fried family, they can get closer to resolving this issue.

Sam Bankman-Fried is the founder of FTX, which filed for bankruptcy in 2020. Since then, the firm has been fighting to restore its reputation and regain the trust of its customers. FTX is facing a multitude of accusations, including misappropriation of funds, fraudulent investment schemes, and market manipulation. The firm is also facing a class action lawsuit from customers who allege they were misled and defrauded by FTX’s false and misleading statements.

The FTX exchange is attempting to prove to the public that they are taking the necessary steps to ensure a fair and transparent market. The firm is making a strong effort to recover the missing billions owed to creditors and customers, and they hope that by questioning the Bankman-Fried family, they can get closer to achieving their goal.

The Bankman-Fried family is one of many that are being investigated by FTX, and the firm is determined to get answers from them. This investigation could be the key to helping FTX restore its reputation and regain the trust of its customers. It remains to be seen if the firm will be able to recover the missing billions, but one thing is for sure: FTX is not giving up on its mission to make the market a fairer place for all.

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