The bridge connecting the HTX exchange (formerly Huobi) and Ethereum was exploited for approximately $87 million in crypto assets early Wednesday.

Large quantities of ether, tether (USDT) and a wrapped version of bitcoin (HBTC) were seen leaving the bridge for a previously unused Ethereum wallet.

The suspicious transactions were first analyzed by various blockchain security firms including CertiK, Peckshield and Cyvers.

According to CertiK, the bridge’s private key was likely compromised.

“The suspicious transactions were initiated by the Huobi HECO Bridge operator wallet indicating that this wallet was compromised,” a CertiK spokesperson told Blockworks.

Read more: Crypto…

Read more on Blockworks

If you are like me — the one crypto person representing the entire industry around the dinner table this Thanksgiving — you are also likely anticipating the usual barrage of questions stuffed with preconceived judgments about Web3, crypto and blockchain. 

Let’s think about all those questions before we are in a food-induced stupor, and maybe this year we can finally be thankful for finally getting through to your most skeptical aunt. 

What is going on with the crypto guy who has been in the news?

FTX, SBF, FBI, SEC — an alarming jumble of letters that has spelled out some stressful times for our industry. In short, Sam Bankman-Fried (SBF) committed fraud using an exchange he…

Read more on Blockworks

Bitcoin (BTC) traded $1,000 off weekly lows after the Nov. 22 Wall Street open as a BTC price relief bounce held firm.

BTC/USD 1-hour chart. Source: TradingViewBitcoin respects “very clear” key levels

Data from Cointelegraph Markets Pro and TradingView followed crypto markets as they recovered from snap downside the day prior.

As the dust continued to settle on news that largest global exchange Binance would be fined $4.3 billion by United States lawmakers, Bitcoin traders eyed the latest important price levels.

Daan Crypto Trades showed BTC/USD respecting a trading range in place for two weeks despite dipping to $35,600 after the Binance event.

“Nice tap and bounce of the range low yet…

Read more on Cointelegraph

The Dutch city of Amsterdam — no stranger to international conferences dedicated to cryptocurrencies, blockchain and decentralization — was recently host to the Network State Conference, which explored decentralization at an entirely different level. 

Conference speakers and attendees gathered to discuss and debate whether a new form of decentralized country is possible.

The conference kicked off with an energetic host directing the crowd to chant and shout the title before Balaji Srinivasan, an entrepreneur, investor and former chief technology officer of Coinbase, entered to make his opening speech. During his initial remarks, Srinivasan asks, “Are new countries even… Read more on Cointelegraph

Bitcoin (BTC) has new BTC price targets to reckon with as a cascade of liquidations take crypto markets lower.

BTC/USD 1-hour chart. Source: TradingView

Thanks to regulatory enforcement action by the United States Department of Justice, largest global exchange Binance is in line for a major fine. Its CEO, Changpeng Zhao, informally known as CZ, will be forced to quit his post and may even face jail time.

This was a watershed moment for one of the crypto industry’s household names, and markets reacted with arguably understandable concern.

BTC/USD fell to $35,600, per data from Cointelegraph Markets Pro and TradingView — its lowest levels since Nov. 16 — before rebounding thanks to…

Read more on Cointelegraph

Data shared by blockchain security platform PeckShield shows that more than $86.6 million in digital assets were transferred from the HECO Chain bridge to suspicious addresses. The security firm suggests that the bridge is compromised and an exploit is ongoing. 

In response to the incident, Tron founder Justin Sun announced that HTX will fully compensate users for any losses incurred in the hack. The company has also temporarily suspended deposits and withdrawals as they investigate the incident. The executive said services will resume after the investigation is completed.

HTX and Heco Cross-Chain Bridge Undergo Hacker Attack. HTX Will Fully Compensate for HTX’s hot wallet Losses….

Read more on Cointelegraph

An exclusive interview with Cointelegraph in 2018 highlighted growing scrutiny of Binance’s meteoric growth.

Read more on Cointelegraph

Crypto data aggregator CoinGecko has acquired NFT data infrastructure and intelligence company Zash.

Zash is an on-chain NFT data analytics firm that collects data from over 1 million different NFT collections and marketplaces. It provides information on NFT metadata, historical trades, lending and also detects large-scale wash trades.

Originally founded by Parit Patel and Efe Surekli, London-headquartered Zash also covers information derived from 87 different blockchain networks, including Ethereum, Polygon, Binance Smart Chain and Solana, among others.

Its NFT data will be integrated into CoinGecko’s API by the second quarter of 2024. This will give users the ability to access…

Read more on Blockworks