A cybersecurity company named Cyvers has announced a major hack on the decentralized finance platform Hedgey Finance, leading to substantial financial losses on both the Ethereum and Arbitrum blockchains. The attack, suspected to be orchestrated by ChangeNOW_io, targeted Hedgey’s Token Claim Contract, resulting in approximately $1.9 million in damages when converted to the stablecoin Dai … Read more
On April 19, 2024, OKX announced that the MERL token would be available for trading on its platform against Tether (USDT). USDT functions like the US dollar. Merl supports the development of the Merlin Chain Project, which is an expandable bitcoin side-chain that operates on a secondary layer. The primary goal of this project is … Read more
Some crypto users who had filed lawsuits against the company due to exchange losses are considering dropping their cases against Sam Bankman-Fried, the former CEO. Instead of relying on him, the general public should make their own decisions based on information, not influenced by celebrities such as Tom Brady and Naomi Osaka. In Florida, that … Read more
The IRS has released an updated Form 1099-DA for reporting digital asset transactions. Starting from 2026, brokers are required to use this new design. It includes a section for tracking various financial activities, including buying and selling cryptocurrencies, NFTs, and stablecoins. The guide outlines various categories of brokerages including kiosk operators, digital payment processors, providers … Read more
Over the past five days, there has been a significant surge in redemptions for GBTC as the Bitcoin halving event approaches. This trend has resulted in a withdrawal of $89.9 million. Since the beginning of the year, this totals up to a massive outflow of $1.6 billion. The high demand for redeeming investments in high-valuation … Read more