Polygon co-founder addresses criticisms the project is just as bad as Solana

Polygon co-founder Sandeep Nailwal went on the defense against “ecosystems who are feeling defeated & jealous.” The comment was motivated by a tweet from Mert Mumtaz, the co-founder, and CEO of Helius Labs, who pointed out Polygon had received more VC money than Solana and had used the funding to “pay people to use the … Read more

FTX attacker turns to ChipMixer to launder tokens

The FTX attacker turned to ChipMixer to launder funds and already washed around 360 Bitcoin (BTC), according to on-chain sleuth ZachXBT. Update: FTX attacker has started using ChipMixer to launder the funds (so far ~360 BTC) https://t.co/xuiCaajnh8 https://t.co/qsSJs8d8OV — ZachXBT (@zachxbt) November 25, 2022 Earlier attacks The FTX drainer has been active since Nov. 12. … Read more

Transfer spoofing evident in FTX Exploiter wallet meme tokens transfers – ZachXBT

On Nov. 20, on-chain detective ZachXBT set out a Twitter thread to debunk the three most commonly misunderstood issues surrounding the FTX case. The three areas ZachXBT set out to cover were: Bahamian officials being behind the FTX hack Exchanging knowing the identity of the hacker The FTX hacker trading meme coins. 1/ I have … Read more

FTX Exploiter swaps 50K ETH to BTC swap sparking concern for Ethereum as ETH dips 3%

On Nov. 20, the FTX Exploiter account began to start shifting the stolen funds once again — totaling 50,000 Ethereum (ETH) valued at an estimated $60 million. The FTX hacker is doing things… They sent 25k ETH to another wallet and have been actively selling into RenBTC over the last few hours. They sold another … Read more

FTX hacker is now one of the largest ETH holders

The hacker who used an exploit to steal funds from the now-bankrupt FTX has emerged as the 35th-largest owner of Ethereum, with a total of 228,523 ETH worth $284.82 million. The FTX exploiter, who has been dumping all other drained assets for ETH, is now one of the largest holders in the world, with 228,523 … Read more

Ethereum becomes most deflationary in history as activity spikes amid FTX collapse

Ethereum became the most deflationary in its history, as the annual supply dipped below zero for the first time since the Merge. According to Ultrasound Money, the annual inflation rate has fallen to -0.032/year, which indicates that the network is now burning more Ethereum than its minting. The negative inflation rate has decreased Ethereum’s net … Read more

FTX crash pushes Bitcoin to self-custody; Ethereum switched for stablecoins

After the FTX collapse, investors are moving large amounts of Bitcoin (BTC) to their self-custody wallets and exiting Ethereum (ETH)  to invest in stablecoins, according to data analyzed by CryptoSlate. Bitcoin retreats to self custody The chart below demonstrates the amount of liquid, illiquid, and highly liquid Bitcoins since 2008. As of November 2022, the … Read more

Crypto.com discloses partial reserves in bid to counter insolvency rumors

Kris Marszalek tweeted details of Crypto.com’s reserves in a bid to address insolvency rumors. Marszalek said the company holds 53,024 Bitcoin, 391,564 Ethereum, and other crypto assets totaling approximately $3 billion. He added that this represents “only a portion of our reserves,” and a Proof of Reserves audit is currently going on with public disclosure, … Read more

Crypto markets rocked as stablecoin reserves deplete, Curve 3pool concentrated by USDT, 60k BTC leaves Binance, Alameda shorts USDT

Following on from one of the craziest days in crypto history on Nov. 9, the 24/7 crypto markets keep investors busy. Binance released its proof-of-reserves, FTX’s stablecoin balance nears zero, the Curve 3pool became concentrated with USDT, and 60,000 BTC left Binance. Rumors are brewing of an Alameda Research short position on Tether USDT as … Read more

Over $360M Bitcoin leave FTX in 2 days, marking 10th largest withdrawal in 2022

FTX recorded a withdrawal of over $360 million worth of Bitcoin(BTC) in two days, with the majority of sell pressure coming from whales.  This is reportedly the tenth-biggest BTC withdrawal this year. In addition, Nansen data shows that FTX stablecoin outflows were the highest among exchanges over the past seven days, as reported by Data … Read more