SSV Network Discord Compromise Resolved: Channel Back to Normal and Under Control

SSV Network ($SSV), a leading infrastructure provider for decentralized Ethereum staking applications, has announced that its Discord channel, which was compromised earlier today, is now “back to normal and under control.”

Incident and Quick Resolution

The company initially alerted its community at 5:35 AM on August 31, 2023, with a tweet stating, “THE SSV DISCORD HAS BEEN COMPROMISED. Please DO NOT click on any links claiming to give you an airdrop or anything of the matter. We are sorting this out ASAP. Stay SAFE!” The warning tweet received 1,846 views, 3 reposts, 1 quote, and 4 likes within 8 hours.

However, in a swift response to the situation, SSV Network later updated its Twitter feed to confirm that the issue had been resolved. “Discord is back to normal and under control. Apologies for the inconvenience!” read the follow-up tweet.

Significance of Quick Recovery

The quick recovery and control of the Discord channel are significant, especially given the platform’s role in community engagement for crypto projects. Discord channels are often the hub for important announcements, including airdrops and staking opportunities. A compromised channel could have far-reaching implications, including potential scams and phishing attacks targeting community members.

Implications and Future Measures

While SSV Network has not disclosed the details of the compromise or the steps taken for the quick recovery, the incident does raise questions about the security measures in place for community engagement platforms in the crypto space. However, the company’s prompt action to regain control and normalize the situation may serve as a case study in effective crisis management within the crypto industry.

A Series of Discord Compromises

The recent compromise of SSV Network’s Discord channel is not an isolated incident in the crypto world. It serves as a stark reminder to exercise caution when encountering airdrops and giveaways, especially before connecting to your crypto wallet.

For instance, on March 25, 2023, CetriK issued a warning about a phishing link circulating on the official Discord server of Arbitrum. The event emphasized the need for vigilance when interacting with community platforms, as even official channels can be compromised.

Similarly, on August 29, 2022, Mysten Labs, the designers behind the Sui blockchain, announced that their Discord server had been hacked. The team urged users not to click on any links posted in the eight hours leading up to their Twitter announcement, highlighting the urgency required to address such security lapses.

These incidents collectively underscore the importance of robust security measures and user awareness in the crypto community, especially as platforms like Discord become increasingly integral to community engagement and information dissemination.

About SSV Network

SSV Network is a decentralized Ethereum staking infrastructure that enhances security and fault tolerance by distributing a validator key among multiple non-trusting node instances. Utilizing a unique consensus mechanism, the protocol transforms a validator key into a multisig construct, offering benefits like offline key storage and ‘active to active’ redundancy. Originating as a research piece by the Ethereum Foundation in 2019, it has evolved into a DAO-governed, community-driven network. Scheduled to launch its mainnet in early 2022, SSV Network aims to expand its robust staking solutions to other Proof-of-Stake chains.

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Astar, Kabocha Lead in Polkadot and Kusama Auctions

Bill Laboon, the Head of Education and Grants at Web3 Foundation, has provided critical updates on the ongoing parachain lease auctions for Polkadot ($DOT) and Kusama ($KSM) networks. In a Twitter thread dated August 31, 2023, Laboon shed light on the leading projects and upcoming changes within these ecosystems.

Astar’s Dominance in Polkadot Auctions

With just half a day left in the current Polkadot parachain lease auction, Astar has been in the lead for the majority of the Ending Period. Laboon’s tweet, which has garnered 8,934 views, 12 reposts, and 61 likes, confirms Astar’s strong position.

Astar is Japan’s top smart contract platform and supports EVM and WebAssembly environments, enabling interoperability through a Cross-Virtual Machine. It’s user-friendly, utilizing familiar tools and languages, and part of the Polkadot network, contributing to blockchain ecosystem and driving web3 technology adoption.

Kabocha’s Unwavering Lead in Kusama Auctions

On the Kusama network, Kabocha has maintained its lead throughout the entire Ending Period of the current parachain lease auction. With three and a half days remaining, the project has already attracted significant attention.

The Growing Importance of “Blockspace”

Laboon also touched upon the increasing discussions around “blockspace” within the Polkadot ecosystem. He directed followers to an article by Rob Habermeier, titled “Blockspace over Blockchains,” for an in-depth understanding of the subject.

Educational Opportunities and Grant Programs

For developers interested in the Polkadot and Substrate platforms, Laboon highlighted a free on-demand course offered by the Blockchain Training Alliance. Additionally, the Web3 Foundation’s Grants Program aims to encourage innovation within the Polkadot ecosystem.

Implications and Future Developments

The parachain lease auctions are a pivotal element for both Polkadot and Kusama networks, as they allow projects to secure a slot on the respective blockchains for a specific duration. The strong performance by Astar and Kabocha indicates robust community interest and investment.

The early leads by these projects could set the stage for their increased influence within their respective ecosystems. Moreover, the ongoing discussions about “blockspace” suggest that Polkadot is actively working to optimize its infrastructure, which could have broader implications for the crypto community.

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Mitsubishi UFJ Trust Bank and Ginco Collaborate to Offer Japan’s First Crypto Asset Trust Services

Mitsubishi UFJ Trust Bank and Ginco announced on August 31 that they have initiated a partnership to offer Japan’s first-ever trust services for crypto assets. This move comes as institutional investors globally are increasingly seeking custody services for digital assets.

Regulatory Landscape

Mitsubishi UFJ Trust Bank had previously secured two patents related to trust services for crypto assets, aligning with the enforcement of Japan’s Payment Services Act in April 2017. The bank has been a pioneer in the digital asset space, launching its digital asset issuance and management platform, “Progmat,” in March 2021.

The Progmat Platform

Progmat serves as an efficient and secure platform for issuing and managing digital securities. It digitizes various forms of ownership rights, including real estate, movable assets like cash and goods, intellectual property rights, and dividends.

Legal Amendments and Tax Reforms

Recent legal amendments in October 2022 have made it possible for trust banks in Japan to offer custody services for crypto assets. Additionally, tax reforms approved in December 2022 have confirmed that crypto assets meeting certain criteria will be exempt from end-of-term market valuation, potentially increasing the demand for crypto asset trust services.

Ginco’s Role

Ginco, a company providing infrastructure for the safe and secure use of digital assets, will contribute technical expertise required for token management on public blockchains. The company is known for its “Ginco Enterprise Wallet,” which boasts the highest adoption rate among business-use crypto wallets in Japan.

Implications for the Market

The collaboration between Mitsubishi UFJ Trust Bank and Ginco is expected to fill a significant gap in the Japanese market, where institutional investors have been keen on diversifying their portfolios with crypto assets but lacked a regulated framework for doing so.

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Breaking: Swift, Chainlink, and Major Banks Achieve Multi-Blockchain Token Transfer

Swift, the global financial messaging service, announced on August 31, 2023, that it has successfully conducted a series of experiments to facilitate the transfer of tokenized assets across multiple blockchains. Collaborating with major financial institutions and Chainlink ($LINK), a Web3 services platform, Swift aims to solve the interoperability challenges that have been a barrier to the growth of tokenized asset markets.

Major banks involved are: Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX), The Depository Trust & Clearing Corporation (DTCC).

Key Findings

Swift’s experiments revealed that its existing infrastructure could serve as a “single point of entry for financial institutions moving tokenized assets while leveraging existing secure infrastructure.” The cooperative’s efforts are part of a broader strategy to maintain secure, global interoperability in a fragmented financial ecosystem.

Tom Zschach, Chief Innovation Officer at Swift, stated, “Interoperability is at the heart of everything we are doing at Swift to facilitate the seamless flow of value across the world […] Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenization and unlocking its potential.”

The Challenge of Interoperability

Tokenization is still in its early stages, but 97% of institutional investors believe it will revolutionize asset management. One of the main challenges is the lack of interoperability between different blockchains where tokenized assets are managed. Financial institutions currently have to build connections to each platform individually, leading to “significant operational challenges and cost.”

Technical Insights

Swift collaborated with financial institutions such as ANZ, BNP Paribas, and BNY Mellon, among others. Chainlink was used to securely connect the Swift network to the Ethereum Sepolia network. The experiments involved transfers of simulated tokenized assets between wallets on the same public Distributed Ledger Technology network, between two wallets on different public blockchains, and between a public and private blockchain network.

Future Prospects

Swift will continue to work with the financial community to identify the most compelling use cases for tokenized asset adoption. The most promising avenue, in the near term, appears to be in the secondary trading of non-listed assets and private markets.


The experiments signify a step forward in solving the interoperability problem that has been a bottleneck for the broader adoption of tokenized assets. By providing a single point of entry, Swift could potentially lower operational challenges and costs for financial institutions.


Swift’s experiments mark a significant milestone in the quest for interoperability in the tokenized asset landscape. While the technology is still in its infancy, Swift’s efforts could pave the way for more efficient and cost-effective management of digital assets, thereby accelerating their adoption in mainstream finance.

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Ethereum Alert: Over 10,000 ETH Moved to Binance by a Smart Whale

A notable Ethereum smart whale transferred 12,087 ETH, equivalent to around $20.61 million, to Binance today, according to EmberCN, an onchain analys. This transaction marks the latest in a series of strategic moves by the investor, who has been notably silent for the past two years.

This smart whale, who initially acquired 52,000 ETH between December 2018 and January 2019 at an average price of $110, has fully liquidated their holdings, realizing an estimated profit of $46.15 million, or an 804% increase. The transactions were executed through various centralized exchanges (CEXs), including Kraken, Bitstamp, and most recently, Binance.

A Multi-Year Strategy Unfolds

The whale’s investment strategy spanned over several years and involved multiple transactions:

June 2019: 27,198 ETH were transferred to Bitstamp at an average price of $257.

July 2019 to August 2021: 12,715 ETH were moved to Kraken, with an average price of $1,911.

August 2023: 12,087 ETH were sent to Binance at an average price of $1,705.

The average selling price across these transactions was $998, significantly higher than the initial average buying price of $110.

Calculating the Gains

The whale’s total investment was initially acquired for approximately $5.73 million (52,000 ETH at an average price of $110). After the series of transactions, the total value realized was approximately $51.88 million, yielding a profit of $46.15 million or an 804% increase.

Implications for the Market

The recent transfer to Binance is noteworthy not just for its size but also for what it may imply about market sentiment. Large transfers of cryptocurrency to exchanges often precede selling activity, which could exert downward pressure on prices. While it’s difficult to attribute market movements to single actors, the timing and scale of this transaction could be interpreted as a lack of optimism about Ethereum’s immediate future.

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Breaking: Binance Pool Introduces Ordinals Inscription Service on Bitcoin network

Binance Pool has rolled out its new Ordinals Inscription Service, a feature that allows users to embed additional data onto individual satoshis within the Bitcoin network. The service aims to facilitate the creation of unique digital artifacts, securely stored on the blockchain.

Taproot Address Requirement

To access the Ordinals Inscription Service, users must possess a Taproot address. Binance has outlined this prerequisite clearly, emphasizing that only verified accounts with a Taproot address can utilize the service.

What Are Ordinals?

The Ordinals Inscription Service is designed to enhance the utility of Bitcoin by allowing for the inscription of additional data onto its smallest unit, the satoshi. This essentially creates a form of Bitcoin NFT (Non-Fungible Token), making each inscribed satoshi unique in its own right.

Bitcoin Ordinals offer a way to inscribe digital content onto the Bitcoin blockchain, transforming individual satoshis into non-fungible tokens (NFTs). The Ordinals protocol assigns unique numbers to satoshis based on their mining date and tracks them through transactions. Unlike traditional Ethereum-based NFTs, which often store metadata off-chain, Ordinals allow for on-chain storage of content. Trading tools for Ordinals are still emerging, but wallets like Ordinals Wallet and Hiro Wallet facilitate their storage and transfer. As the technology gains traction, it is expected to mature, offering more user-friendly tools and broadening its range of use-cases.

Binance Pool Introduces Ordinals Inscription Service on Bitcoin network.JPG

Source: Binance

Verification and Terms

Users looking to take advantage of this service must complete Identity Verification (KYC) and generate a Taproot address. Binance has provided guides and related materials to assist users in these processes.

Implications and Future Outlook

The launch of the Ordinals Inscription Service marks a significant step in expanding the functionalities of Bitcoin beyond its original scope as a digital currency. By enabling the inscription of additional data onto individual satoshis, Binance Pool is opening up new avenues for digital ownership and asset management on the Bitcoin network.

In terms of regulatory compliance, the requirement for a verified Taproot address adds an additional layer of security and legitimacy to the service. However, Binance reserves the right to amend or cancel this announcement at any time, according to the terms and conditions outlined in the original English version of the announcement.

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Shiba Inu’s Mysterious Founder Ryo Suzuki Explored

In a captivating series of tweets, TruthLabs (@BoringSleuth) has unveiled new details that could potentially identify the enigmatic founders of Shiba Inu ($SHIB). The tweets, dated August 31, 2023, disclose Suzuki’s connections to MIT’s Media Lab, a Microsoft internship, his advisory role and subsequent resignation from B2C2 Group, and a surprising link to Ethereum co-founder Vitalik Buterin.

The Shiba Inu project was anonymously launched in August 2020 by an individual using the alias “Ryoshi.” In statements about his own identity, Ryoshi has claimed to be an unimportant and inconsequential figure, suggesting that any attempts to reveal his true identity would ultimately prove to be unremarkable. Shiba Inu has emerged as one of the leading meme-based cryptocurrencies, having a global fan base that spans millions.

Advisors to B2C2 Group: Ryo Suzuki and Tsuyoshi Maruyama

The tweet from TruthLabs speculates that the anonymous founder “Ryoshi” could be a combination of two individuals: Ryo Suzuki and Tsuyoshi Maruyama. Both have served as advisors to B2C2 Group, a significant detail that adds a new layer to the ongoing mystery surrounding Shiba Inu’s creation. Ryo Suzuki notably resigned from his advisory role on April 27, 2021.

MIT Media Lab and High-Profile Associations

The Massachusetts Institute of Technology’s Media Lab has associations with high-profile individuals like Gary Gensler, Jeffrey Epstein, Caroline Ellison’s father and Bill Gates. Although the tweet lacks details about the purpose of Suzuki’s visit to the lab, it prompts speculation regarding possible partnerships or influences that could have contributed to the development of Shiba Inu.


Source: Twitter

Microsoft Internship and Shiba Inu’s Launch

Ryo Suzuki was an intern at Microsoft during the time Shiba Inu was launched, adding another layer of complexity to the narrative surrounding the cryptocurrency’s origins.


Source: Twitter

Advisory Role and Resignation from B2C2 Group

Ryo Suzuki and Tsuyoshi Maruyama were both advisors to B2C2 Group. Intriguingly, Suzuki resigned from his advisory role on April 27, 2021, a detail that adds further depth to the ongoing discussions about his identity and involvement in the Shiba Inu project. 

Vitalik Buterin’s Involvement

A follow-up tweet from TruthLabs revealed that Vitalik Buterin was gifted half of the Shiba Inu supply. “In 2018, the first outbound ETH the Shib deployer sent made its way to a personal wallet where Vitalik also sent ETH,” the tweet stated, suggesting a deeper connection between Shiba Inu and Ethereum.


The tweet thread from TruthLabs introduces fresh angles to the existing discourse about the elusive creator of Shiba Inu. As this information circulates within the cryptocurrency community, it remains to be seen whether additional revelations will come to light, further illuminating the mysterious individual behind high-profile Shiba Inu.


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Kucoin Report: Turkey’s Crypto Investor Base Grows by 12%

Cryptocurrency exchange KuCoin has unveiled its 15th report in the “Understanding Crypto Users” series, focusing on Turkey. The report reveals a 12% uptick in the percentage of Turkish adults investing in cryptocurrencies over the past 18 months, despite challenging market conditions and a depreciating Turkish lira.

Key Findings

According to the report, the proportion of adults in Turkey between the ages of 18 and 60 who have invested in digital assets has climbed from 40% in November 2021 to 52% as of May 2023. This uptick occurs in the context of the Turkish lira depreciating by more than half against the U.S. dollar, indicating a growing perception of cryptocurrencies as an inflationary hedge within the nation.

Demographics and Investment Trends

Gender Gap Narrows: While men still constitute 57% of crypto investors, women, particularly among the younger generation, are catching up. Nearly half (47%) of crypto investors aged 18 to 30 are female.

Younger Generations Lead: Investors aged 31 to 44 make up the majority at 48%, followed by those aged 18 to 30 at 37%. A significant 31% of all crypto investors made their first investment in the last quarter.

Investment Motivations and Preferences

Investment Goals: 58% invest for future wealth, 37% for value storage, 25% for portfolio diversification, 34% for ease of transfers, and 17% for quick profit.

Popular Assets: Bitcoin remains the most popular investment target, capturing 71% of overall interest, followed by Ethereum and stablecoins, which gain 45% and 33% interest, respectively.

Trading and Community Influence

Trading Dominates: 70% of Turkish crypto investors are primarily involved in trading, while 22% are buying NFTs.

Community Impact: 57% of participants became familiar with crypto through family or friends, underscoring the role of personal connections in crypto adoption.

Johnny Lyu, CEO of KuCoin, stated, “We are excited to present this comprehensive report that sheds light on the dynamic crypto community in Turkey. We aim to contribute to a more informed crypto landscape and encourage responsible adoption.”


The data in the report is based on an online survey conducted between May 5 and May 12, 2023, using the SurveyMonkey Audience tool.

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Early PEPE Coin Investor Suffers 43.4% Loss in Recent Trade: What the Data Reveals

An early crypto trader known as 0x025, previously operating under the alias pepeworldorder.eth, sold 263 billion $PEPE tokens for 226,000 $DAI. The sale occurred at a rate of $0.00068591 per token, resulting in a loss of $174,000, or a 43.4% decrease in value. The transaction took place five hours ago and marks the trader’s second $PEPE deal, which closed at a loss after 52 days. This move comes with a backdrop of controversies surrounding the $PEPE coin, including founder scandals and allegations of insider trading.

The Two Cycles of 0x025

According to data provided by Spot On Chain, 0x025 has been involved in two significant trading cycles concerning $PEPE tokens:

First Cycle (April 17 to May 31)

Initial Investment: Bought 3.7 trillion $PEPE tokens with 329 $ETH.

Sale: Sold the 3.7 trillion $PEPE tokens for 1,744 $ETH.

Profit: Earned a return of 1,415 $ETH, equivalent to approximately $2.61 million at current ETH prices.

ROI: The return on investment was 429%.

Second Cycle (Since July 10)

Initial Investment: Bought 263 billion $PEPE tokens with 400,000 $USDT at an average rate of $0.00000152 per token.

Current Status: Closed the deal at a loss of $174,000.

The data reveals a stark contrast between the two cycles, with the first being highly profitable and the second resulting in a loss.

Founder Zachary Testa Identified

Zachary Testa, known online as @degenharambe and @LordKekLol, was recently identified as the founder of $PEPE coin. Testa reportedly purchased an $865,000 Lamborghini using his earnings from the coin, drawing attention as the original creator of Pepe the Frog, Matt Furie, did not financially benefit from the coin. Testa’s team also had connections with major cryptocurrency exchanges like Binance and SushiSwap, leading to the coin’s listing on these platforms.

Insider Trading Allegations

On August 24, 2023, approximately 16 trillion $PEPE tokens were transferred from the $PEPE multisig CEX Wallet to various crypto exchanges. The required signer count for the wallet was also altered, sparking allegations of insider trading.

Market Implications

The sale by 0x025 and the surrounding scandals could be indicative of $PEPE price trends. While the trader made a significant profit in the first cycle, the loss in the second cycle might signal a shift in market sentiment.

The crypto maret is fraught with volatility and scams, as demonstrated by the contrasting trading cycles of 0x025 and the ongoing scandals surrounding $PEPE coin. 

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Binance to Delist BETH Trading Pairs, Shifts Focus to WBETH: What You Need to Know

Key Takeaways

* Binance announces delisting of BETH trading pairs effective October 11, 2023, at 08:00 (UTC).

* WBETH gains prominence as Binance adds it to Simple Earn Flexible Products and Loans.

* Users advised to modify trading bots and Auto-Invest plans in light of upcoming changes.

Binance, the global cryptocurrency exchange, is making significant changes to its Beacon ETH (BETH) and Wrapped Beacon ETH (WBETH) staking services, according to an official announcement dated August 31, 2023. The move comes as the exchange aims to streamline its staking services and offer better utility to its users.

Trading Pairs and Bots

Starting October 11, 2023, at 08:00 (UTC), Binance will delist and cease trading of BETH trading pairs: BETH/ETH, BETH/USDT, and BETH/BUSD. Concurrently, the exchange will terminate Trading Bot services for these pairs. “All pending trade orders will be automatically removed after trading ceases in each respective trading pair,” the announcement stated.

Binance Simple Earn and Auto-Invest

As of August 14, 2023, WBETH was added to the list of supported assets on Binance Simple Earn Flexible Products. Conversely, BETH will no longer be available for subscription on Simple Earn Flexible Products from October 10, 2023, at 08:00 (UTC). Binance Auto-Invest will also cease offering BETH plan subscriptions starting September 8, 2023, at 02:00 (UTC).

Binance Loans

WBETH was listed as a collateral asset in Binance Loans (Flexible Rate) as of August 14, 2023. However, BETH will be fully delisted as a collateral asset from Binance Loans (Stable and Flexible Rate) on October 9, 2023, at 08:00 (UTC). “All outstanding Binance Loans orders using BETH as collateral will be automatically liquidated at this time,” the announcement warned.

Liquid Swap

Beginning September 8, 2023, at 08:00 (UTC), Liquid Swap will gradually increase the Annual Percentage Rate (APR) on WBETH liquidity pools while lowering APR on BETH liquidity pools.

Implications for Users

The changes signal a strategic shift in Binance’s staking services, with a clear focus on promoting WBETH over BETH. Users are advised to update their trading bots, modify their Auto-Invest plans, and consider WBETH as a collateral asset in Binance Loans to adapt to these changes.

About WBETH and Key Differences Between BETH and WBETH

Binance introduced Wrapped Beacon ETH (WBETH) to its ETH Staking service on April 27, 2023. This new liquid staking token initially was designed to work alongside Beacon ETH (BETH), offering users additional flexibility and utility. 

While BETH is confined to trading on the Binance Spot Market, WBETH expands user options by enabling access to DeFi protocols and services beyond the Binance ecosystem, all while still allowing for the accrual of ETH Staking rewards.

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