Fantom Foundationannouncedthat several of their wallets were compromised. Reports confirmed that a number of Fantom wallets were affected earlier today, which involved a loss of approximately $550K in Fantom Foundation funds. However, it’s reassuring to note that over 99% of the Fantom Foundation’s funds remain unaffected by this breach and are currently secure.
Initial speculations suggest a zero-day exploit in Google Chrome might be the underlying cause. Although the exact nature and mechanism of the attack are still under investigation, it’s apparent that the vulnerabilities extended beyond just the Foundation’s official wallets. One of the Foundation’s employees had their personal wallets compromised, further solidifying the suspicion of a targeted attack against the organization and its affiliates. This particular breach emphasizes the importance of continuous cybersecurity vigilance and the potential vulnerabilities that might exist in commonly used platforms.
Spreek, a reputed crypto commentator, brought attention to the event through a series of tweets. According to the shared data, the compromised addresses included https://etherscan.io/address/0x1bffb3a232e06e06a5d9e93c8df3321f768197c2 on Ethereum and https://ftmscan.com/address/0x596288a9090c9eedf87bb5f2da5d8e1bbc7bb935 on Fantom.
However, subsequent updates from Spreek indicated that multiple other Foundation wallets were drained both on Ethereum and Fantom. Furthermore, some non-tagged wallets, believed to be personal ones belonging to team members, were also impacted.
The attacker’s knowledge and skill were notably advanced. They managed to unwind complex DeFi configurations, suggesting a deep understanding of the DeFi ecosystem. The total profit accrued by the attacker is estimated at approximately $6.7 million. One of the wallets, believed to belong to a team member, incurred a significant loss of $3.4 million.
Over 700,000 transactions have been completed on the network.
Despite rapid adoption, the SHIB token faces potential price volatility.
Shiba Inu’s Layer 2 network, Shibarium, has crossed a significant threshold, boasting over 1 million wallet addresses and completing more than 770,000 transactions as of September 2, 2023. The data comes from Shibariumscan, the Shibarium network’s official block explorer. The milestone follows an announcement by Shiba Inu’s lead developer, Shytoshi Kusama, confirming that the Shibarium mainnet and its cross-chain bridges became fully operational on August 28, 2023.
Shibarium’s Strategy with Scalability Concern
Shibarium, a fork of Polygon, initially grappled with scalability issues. The network’s fail-safe mode was activated due to an unprecedented surge in user activity shortly after its launch. “Nearly half of the platform’s monthly allocation of 400 million compute units was consumed within just 30 minutes of its launch,” according to internal data. However, collaborations with teams like Alchemy led to a 1500% scaling of operations, stabilizing the network’s ability to handle its growing user base.
Shytoshi Kusama stated on August 28 that the Shibarium mainnet and its cross-chain bridges are “functioning smoothly.” Users can now complete withdrawals of various assets, including ETH, Shib, Leash, and WEth, within a time frame of 45 minutes to 3 hours. However, withdrawals involving Bone, the network’s native token, may take up to 7 days.
The Layer 2 network aims to alleviate congestion and high fees on the Ethereum mainnet. Shibarium’s rapid adoption is in line with the growing trend of Layer 2 solutions in the crypto space, which offer scalability and lower transaction costs. These features are particularly beneficial for decentralized finance (DeFi) applications and non-fungible tokens (NFTs).
4-Hour Chart: 99-Period Moving Average as a Strong Resistance
While this suggests a promising future for the network, the $SHIB token is grappling with its own set of challenges, particularly in terms of price stability.
In the shorter time frame of the 4-hour chart, the 99-period Moving Average stands out as a formidable resistance line for $SHIB. This technical indicator has consistently acted as a ceiling for the token’s price, making it a critical level to watch for traders. The overall market environment appears permissive, indicating that there’s a likelihood for the price to decline further. Investors should exercise caution as the asset nears this resistance, as a failure to break above could signal a bearish trend.
Daily Chart: Upward Trending Line Offers Robust Support
On the flip side, the daily chart offers a more optimistic outlook. An upward trending line, currently pegged at a price of 0.0000077, serves as a robust support level for $SHIB. This line has historically acted as a floor for the token’s price, providing a safety net during market downturns. It is crucial for investors to monitor this level closely; a break below it could trigger a significant price drop, potentially leading to a deep plunge in $SHIB’s market value.
Conclusion
The $SHIB token is currently navigating a complex technical landscape, caught between a strong resistance level on the 4-hour chart and a crucial support level on the daily chart. As Shibarium continues to grow, the token’s price dynamics remain uncertain. Both the 99-period Moving Average and the upward trending line at 0.0000077 are key technical levels that could dictate the token’s future price action. Investors and traders should keep a close eye on these indicators to make informed decisions.
Shiba Inu’s Layer 2 network, Shibarium, has reached new milestones, boasting 634,438 wallet addresses and 698,607 transactions, according to updated data from Shibariumscan. This comes after Shiba Inu’s lead developer, Shytoshi Kusama, confirmed the full operational status of Shibarium’s mainnet and cross-chain bridges on August 28, 2023.
Updated Metrics
Average block time: 5.1 seconds
Total transactions: 698,607
Total blocks: 400,115
Wallet addresses: 634,438
Overcoming Initial Hurdles
Shibarium, initially a Polygon fork, faced technical challenges due to a surge in user activity. Collaborations with teams like Alchemy led to a 1500% scaling of operations, overcoming the initial hurdles.
Mainnet and Cross-Chain Functionality
Shytoshi Kusama stated that the mainnet and cross-chain bridges are “functioning smoothly.” Asset withdrawals, including ETH, Shib, Leash, and WEth, now occur within 45 minutes to 3 hours, although Bone token withdrawals may take up to 7 days.
User Adoption and Market Trends
The Layer 2 network aims to alleviate Ethereum’s congestion and high fees. The updated data indicates a rapidly growing user base, aligning with the rising trend of Layer 2 solutions in the crypto space.
Implications for Shiba Inu
The milestones could attract more developers to Shibarium, enhancing its utility and value proposition, and moving Shiba Inu beyond its meme coin status.
Shiba Inu’s Ethereum Layer 2 network, Shibarium, has reached a significant milestone, crossing 100,000 wallet addresses and completing over 445,000 transactions, according to data from Shibariumscan, the network’s block explorer. This comes after an announcement by Shiba Inu’s lead developer, Shytoshi Kusama, who confirmed that Shibarium’s mainnet and cross-chain bridges are fully operational as of August 28, 2023.
A Rocky Start to a Promising Journey
Shibarium, a fork of Polygon, initially faced technical challenges due to an unprecedented surge in user activity shortly after its launch. The system’s fail-safe mode was triggered to ensure the safety and security of funds. Nearly half of the platform’s monthly allocation of 400 million compute units was consumed within just 30 minutes of its launch, posing significant scaling challenges. However, collaborations with teams like Alchemy facilitated a 1500% scaling of operations, ensuring Shibarium’s capability to handle its burgeoning user base.
Mainnet and Cross-Chain Bridges Operational
In a statement on August 28, Shytoshi Kusama clarified that the Shibarium mainnet and its cross-chain bridges are functioning smoothly. Users can now complete withdrawals of various assets, including ETH, Shib, Leash, and WEth, within a time frame of 45 minutes to 3 hours. However, withdrawals of the network’s native token, Bone, may take up to 7 days.
Rapid Adoption and User Engagement
The rapid adoption of Shibarium is noteworthy, especially considering the Layer 2 network aims to alleviate congestion and high fees on the Ethereum mainnet. The data from Shibariumscan indicates a growing user base, which is a critical factor for the long-term sustainability of any blockchain network.
Layer 2 Networks: A Growing Trend
Layer 2 solutions have been gaining traction in the crypto space as they offer scalability and lower transaction costs, features that are particularly beneficial for decentralized finance (DeFi) applications and non-fungible tokens (NFTs). Shibarium’s achievement is in line with this trend, and it adds another layer of utility to the Shiba Inu ecosystem, which initially gained fame as a meme cryptocurrency.
Implications for the Shiba Inu Ecosystem
The Shiba Inu ecosystem has been expanding its offerings, moving beyond its meme coin status. The introduction of Shibarium adds a new dimension to the ecosystem, allowing for faster and cheaper transactions. This could potentially attract more developers to build on the Shibarium network, thereby increasing its utility and value proposition.
Arbitrum, a layer-2 scaling solution for Ethereum, recently launched an airdrop campaign for its native token, ARB, causing a frenzy among cryptocurrency enthusiasts. On-chain activity showed that some airdrop hunters were particularly successful in accumulating a substantial amount of ARB tokens worth millions of dollars.
According to LookIntoChain, a blockchain analysis platform, two wallets consolidated tokens from 1,496 wallets, collectively holding around $3.3 million worth of ARB. One of the wallets received 1.4 million ARB from 866 addresses and added all the tokens to Uniswap, a decentralized exchange, to provide liquidity. The other wallet received 933,375 ARB from 630 addresses.
Community members were curious about the identities behind the wallets and formulated their own theories. Some believed that the airdrop hunters were team members of the project, while others speculated that they might be hackers. A few members also expressed concerns about the potential impact on transaction volumes.
Despite the mixed reactions, some praised the airdrop hunters for their efforts, calling them names like “airdrop god.” Others believed that the hunters spent significant time and capital farming the numbers to accumulate such a large amount of tokens.
The hype around the ARB airdrop also spilled over into the over-the-counter (OTC) markets, where eligible crypto users started selling their tokens soon after the announcement. This indicates a strong demand for the token in the market.
However, the airdrop craze also attracted the attention of hackers. On March 24, some hacked vanity wallet addresses were used to steal $500,000 worth of ARB tokens from eligible airdrop participants, raising concerns about security risks in airdrop campaigns.
In conclusion, the ARB airdrop campaign generated significant attention from the cryptocurrency community, with some successful airdrop hunters consolidating millions of dollars worth of tokens. While the campaign was successful in attracting new users and creating hype, it also exposed potential risks associated with airdrop campaigns, such as security vulnerabilities and market volatility.
Cryptocurrency exchange Coinbase Global Inc. announced it has blocked 25,000 wallet addresses of Russian individuals or entities linked to illegal activities.
Paul Grewal, chief legal officer from Coinbase, said that the exchange use blockchain technology to detect threats and evade sanctions by checking sanctioned individual IPs and entity IPs to access Coinbase through a series of screening processes.
Grewal added:
“Coinbase blocks over 25,000 addresses related to Russian individuals or entities we believe to be engaging in illicit activity, many of which we have identified through our own proactive investigations. Once we identified these addresses, we shared them with the government to further support sanctions enforcement.”
While the Ukrainian government, as well as the U.S. government, have expressed their intentions for cryptocurrency exchanges to ban the Russian counterparts from accessing their trading platforms, major cryptocurrency exchanges such as Coinbase and Binance have said that banning users in Russia violates the original intent of cryptocurrencies. It, however, indicates that they will comply with government regulations restricting sanctioned individuals.
Previously, Coinbase’s Chief Executive Officer, Brian Armstrong, hasexpressed his thoughts on the calls from the public that cryptocurrency exchanges should ban Russian users from utilizing their services.
BlockWallet is a private, non-custodial Ethereum browser extension wallet that allows you to hide the amounts and the origins of cryptocurrency held by easily interacting with privacy smart contracts on Ethereum which is a decentralized, non-custodial, and frictionless manner.
The platform is an innovative solution that has met the increasing demand for privacy and anonymity. Its one-of-a-kind solution will create a new wallet address for you with the amount of crypto that you requested when you make a withdrawal.
This is achieved by using cryptographic proofs to ensure that the user cannot be linked with the original depositing address.
What Is BlockWallet?
With the boom of blockchain technology in finance, assets are no longer the picture of physical assets such as gold, art, wills, bonds, stock certificates, or cash which are carefully stored in a bank to secure.
Although you can keep all those assets away from thieves, it takes a lot of time to approach the market such as for sale or trade.
On the other hand, digital assets have opened a new era for more quick trade and easy hold in global economics.
As a result, many blockchain-based banking platforms with digital banking bringing traditional and blockchain banking services are increasingly born to meet the demands.
These services are more efficient and can facilitate real-time settlement, bringing down transaction costs, counterparty risk, and capital efficiency.
However, it can be denied that hackers’ attacks have got sophisticated as well, making banking platforms unable to stop improving their technology. Projects like BlockWallet continue to push innovation for asset management.
BlockWallet is able to ensure total crypto security and anonymity for you as well as is the most private, non-custodial cryptocurrency wallet.
Launched in 2020 by a group of tech consultants, software engineers, and developers who want to disrupt the most modern technology – blockchain, BlockWallet is a vision of the team to create the future of DeFi.
In addition to the smart contract functionality, the platform also integrates with Tor for a higher level of privacy. Functionality is going to be launched including DeFi web3 integrations as well as support for Metamask Snaps Plugins to allow for seamless connectivity and usage.
What is the BlockWallet Solution?
The cryptocurrency industry has challenged users’ perceptions towards the way financial operations are done.
While the values and beliefs in the immutability of blockchain technology are highly appreciated which is still the leading benefit sought after by people when participating in any DeFi activities, transparency is on the contrary.
Today, protecting one’s assets gets more attention than before. If given the option, users may choose to remain anonymous over revealing themselves and their wealth.
Unfortunately, users often must experience friction or deal with centralized entities when they want to keep less transparent and anonymous when participating in DeFi ventures with existing solutions.
Understanding these demands, BlockWallet is designed to offer real privacy for your cryptocurrency. Also, this means it allows you to reclaim your financial privacy on the blockchain.
The biggest problem that the platform has recognized is how everything can be tracked.
Did you know?
Anyone can access your dApps when you’ve connected your wallet. As such, people not only can know all your history transfers but also know how much crypto you have in your wallet.
To keep you safe from exposing yourself in each crypto transaction, BlockWallet develops a system that adds the ultimate protective layer to your crypto transactions along with other functions that other wallets offer in the market.
It’s a non-custodial Ethereum browser extension wallet focusing on privacy. In other words, users hide amounts and origins of funds by interacting with privacy smart contracts.
Each transaction is made to a newly generated wallet address and uses cryptographic proofs to break links between the user and the original deposit address.
Therefore, it can be seen that this browser extension breaks links between users and funds, adding an extra and necessary privacy layer to all activities.
The more the adoption of blockchain users is common, the more the problem with privacy is increased. With BlockWallet, you have rights to your privacy which shouldn’t be “opt-in”, but something you could occasionally “opt-out”.
Why BlockWallet?
As mentioned before, BlockWallet’s built-in privacy is currently a one-of-a-kind solution that the market hasn’t seen in the past.
It is also an advantage over existing competitors in the cryptocurrency industry like Tornado.Cash which also uses smart contracts, or Metamask, is a private but not anonymous wallet.
The wallet focuses on anyone who wants to store their crypto non-custodial and in a private way. While the recent hacker attacks are showing the frightening trend as you don’t know who will attack, the non-custodial wallet brings value to you with the untouchable privacy benefit.
How to Use BlockWallet?
BlockWallet is designed with a simple user interface. You can easily download the wallet from the Google Chrome store and install the extension in their browser.
Then, they can interact with any DApp and store their crypto which is like with any non-custodial wallet.
BlockWallet’s privacy pools use smart contracts to group the userbase’s funds together. Funds are deposited into a smart contract which can be later withdrawn to a new address. Also, zkSnark technology proves that users deposit their funds into the contract.
Every time you withdraw your funds, BlockWallet creates a new wallet address for you that contains the amount of cryptocurrency you requested. Transfers are implemented within the pool to ensure that they always are anonymous and untraceable.
BlockWallet will charge a 0.25% withdrawal fee for all transactions taken through the BlockWallet privacy pool. Other features without requesting privacy are going to be free.
BlockWallet Token
The native token of BlockWallet is $BLANK. Not only providing liquidity for the development of the wallet but the token also powering in its marketing activities.
The $BLANK token is mainly used to obtain additional benefits in the wallet and to monetize its value.
In addition, there are various ways for BLANK token holders to get the benefit when using, including fee reduction, token burn, rewards, exclusive features, “Access-First” functionality, and many more.
To date, the total supply is 125,000,000 tokens.
How to Buy the BlockWallet Token?
Although BLANK has been listed on a number of crypto exchanges, BLANK is an altcoin that requires you to transfer your coins to an exchange where BLANK can be traded. It cannot be directly purchased with fiats like other major cryptocurrencies.
To buy BLANK, you must first buy Bitcoin, ETH, or USDT from any exchange then use it to buy BLANK.
When the KYC process is finished, you will be asked to add a payment method. Depending on the crypto exchanges, you can use a credit/debit card or a bank transfer to make payment and buy one of the major cryptocurrencies such as Bitcoin, ETH, or USDT.
Then, transfer your cryptos to an exchange that BLANK can be traded.
Once finished you will need to make a BTC/ETH/USDT deposit to the exchange to purchase BLANK from the exchange.
Buy $Blank from:
BlockWallet is Here to Help!
Cryptocurrency banking platforms or cryptocurrency vaults have become popular and make a new future for asset management. Not only is crypto held in a vault where it can be kept safe but it is also used to generate yield over time.
BlockWallet has opened better privacy in the wealth management space. As more and more people turn to managing their wealth via cryptocurrency, it can be seen that achieving privacy becomes all the more important.
To learn more about BlockWallet – please click here!
Important Note: There have been reports of scammers approaching companies via Telegram, LinkedIn and Other Social platforms purporting to represent Blockonomi and offer advertising offers. We will never approach anyone directly. Please always make contact with us via our contact page here.
OpenSea has acquired Dharma, an Ethereum wallet project, to help build its team and scale over the next year.
Dharma will sunset its wallet product over the next month, and its co-founders will join OpenSea in new executive roles.
OpenSea is growing rapidly thanks to the rise of NFTs and the “Metaverse” trend that is promoting them.
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OpenSea, the largest non-fungible token marketplace in operation, has acquired Dharma in a private deal.
OpenSea Team Gets New Execs
With this acquisition, OpenSea will bring on board Dharma, whose team developed an Ethereum wallet with the defining feature of allowing users to buy crypto directly from their bank account.
OpenSea did not say precisely what efforts to which the team would contribute. Rather, it said that the acquisition will help it “[build] across…core priorities” such as product development, improving trust and safety, and investing in the NFT and Web3 ecosystem.
The new acquisition will also help OpenSea expand its team. Dharma’s CEO and co-founder, Nadav Hollander, will serve as OpenSea’s Chief Technology Officer. Dharma COO and co-founder Brendan Forster will serve as OpenSea’s Head of Strategy.
OpenSea did not disclose the terms of the deal. However, earlier speculation from Axios around the acquisition suggested that Dharma was worth $110 million to $130 million.
Dharma Wallet Will Come to an End
Dharma says that it will “sunset” its wallet over the next month and has instructed users to withdraw their funds before Feb. 18.
Funds can still be accessed after that date through a dApp, according to the Dharma team. However, the company strongly discourages waiting. To encourage early withdrawals, the company is offering free withdrawals over the next 30 days for Ethereum-based withdrawals over $100 and Polygon-based withdrawals of any amount.
Dharma says it is discontinuing its wallet because it does not want to “shoehorn” it into OpenSea’s operations—though it noted that “mobile wallets may very well play a key role in OpenSea’s future.”
Currently, it is possible to use most Ethereum wallets with OpenSea, including MetaMask, Coinbase Wallet, and TrustWallet.
This month, OpenSea hit an all-time high for daily trading when its one-day volume hit $261 million on Sunday, Jan. 9. OpenSea also broke monthly records this week when its trading volume surpassed $3.5 billion on Sunday, Jan 16. That amount is just above the $3.42 billion monthly record it set last August.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Robinhood is preparing to offer its cryptocurrency wallet to tens of thousands of users beginning in January.
The cryptocurrency wallet will allow users to withdraw crypto for the first time since crypto trading was added in 2018.
Robinhood has not yet announced when the wallet will leave beta or be available to the general public.
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Robinhood, a popular crypto and stock trading app, is closer to introducing its cryptocurrency wallet with an upcoming beta program.
Beta Phase Will Begin in January
Robinhood is preparing to launch the beta version of its cryptocurrency wallet next month.
The company revealed in a blog post on Wednesday that the alpha testing phase of its wallet app is now complete. During that phase, the company “sought feedback from a tight-knit group of customers” who gave feedback on design and functionality.
Next, the Robinhood will open its beta testing program to thousands of waitlisted users. Its cryptocurrency COO, Christine Hall Brown, has suggested that the feature will be made available to “tens of thousands of customers.”
In its announcement, Robinhood revealed some features that those users asked for, such as educational content, multiple wallets for different crypto assets, and security features.
Notably, Robinhood intends to clarify transaction fees by distinguishing its own zero-commission services from blockchain fees. “Alpha testers want[ed] that information at the time of transfer in a simple and understandable way,” it explained.
Robinhood is primarily a stock trading app. It initially allowed users to invest in Bitcoin and other cryptocurrencies in 2018.
However, in the absence of a crypto wallet feature, users were only able to withdraw their cryptocurrency investments as cash balances. That limitation was widely criticized by the crypto community, and Robinhood initially announced that it would introduce crypto wallets to its app in September 2021.
Robinhood said that the waitlist for its wallets attracted 1 million users within 30 days of that announcement. It also said that more than 1.6 million people have signed up in total.
The company has not revealed when the final version of its wallet will be available to the general public.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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