Monero’s community wallet loses all funds after attack

A recent attack compromised Monero’s community crowdfunding wallet, wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000.

The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero’s developer Luigi. According to him, the source of the breach has not been identified yet.

“The CCS Wallet was drained of 2,675.73 XMR (the entire balance) on September 1, 2023, just before midnight. The hot wallet, used for payments to contributors, is untouched; its balance is ~244 XMR. We have thus far not been able to ascertain the source of the breach.”

Monero’s Community Crowdfunding System (CCS) funds development proposals from its members. “This…

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Institutional custody of bitcoin could kill it, cautions Hayes

Potential spot bitcoin ETF approval excitement is building in the crypto ecosystem, but Arthur Hayes isn’t convinced such an event is good for bitcoin, or for the people who use it.

The crypto OG and Maelstrom Fund founder says institutional interest in bitcoin could “herald a situation that we might not actually like in the end.”

Speaking to Blockworks on the On the Margin podcast (Spotify/Apple), Hayes posits a hypothetical scenario: “Let’s say Larry Fink and his [traditional finance] ilk come in and hoover up a large percentage of the freely traded bitcoin [BTC] in circulation.”

The same institutional entities could launch bitcoin mining ETFs, he says, adding that…

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What is Moore’s law, and how does it impact cryptography?


Moore’s law, explained

A fundamental concept in the technology sector, Moore’s law foretells the exponential rise in computing power over time and is named after Gordon Moore.

Gordon Moore, the co-founder and emeritus chairman of Intel Corporation, proposed Moore’s law in 1965. According to him, the number of transistors on microchips — the fundamental building blocks of electronic devices — will double roughly every two years while their production costs will stay the same or even go down. The consequences of this exponential rise in processing capacity for several facets of an individual’s digital life are vast. How does…

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Top 10 Trending Crypto Coins of The Day

  1. inSure DeFi: Market Cap of $125 Million.
  2. Arbitrum: Market Cap of $1.3 Billion.
  3. Dione: Market Cap of $29 Million.
  4. Ethereum: Market Cap of $225 Billion.
  5. DinoLFG: Market Cap of $18 Million.
  6. PlayZap: Market Cap of $10 Million.
  7. Memecoin: Market Cap of $166 Million.
  8. BurgerCities: Market Cap of $13 Million.
  9. Celestia: Market Cap of $325 Million.
  10. PancakeSwap: Market Cap of $554 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Crypto funding: Zero-knowledge tools stole the show this week

Two projects focused on zero-knowledge — the cryptographic concept of proving a statement true without looking at its contents — announced funding rounds this week.

Variant and 1kx headlined a $6 million fundraise for Modulus, a startup using zero-knowledge to “bring AI on-chain.” Stanford University’s Blockchain Builders Fund also participated.

Modulus pitches itself as using zero-knowledge proofs to let AI developers check that their tools are working as intended without sacrificing decentralization. In a blog post announcing the fundraise, the company said a partnership with Worldcoin is in the works. 

Evolution Equity Partners led a $5 million funding round for…

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Did Bezos Move to Florida to Avoid WA Capital Gains Tax?

Jeff Bezos, the founder of American tech giant Amazon, has confirmed via a post on social media platform Instagram that he is moving to Florida (FL), Miami. The billionaire plans to relocate to Miami by ditching his residence in Seattle, Washington (WA). The announcement reignited the conversation about new WA capital gains tax laws focused on the wealthy class.

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A post shared by Jeff Bezos (@jeffbezos)

Jeff Bezos Moves to Miami

The Amazon founder did not talk about taxes in the Instagram post. However, he stated that he is moving to Miami to be closer to his parents, who recently shifted to the state. Further, Bezos said that…

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The Bitcoin Rainbow Chart

At the intersection of investment strategy and cultural lore within the Bitcoin community lies the Bitcoin Rainbow Chart. More than a mere guide to the market’s emotional terrain, it stands as a whimsical emblem, bringing levity to bearish phases and marking the high spirits of bullish runs.

Its spectrum of colors maps neatly onto the investor psyche, from optimism to anxiety, encapsulating the chart’s essence: part serious investment compass, part playful nod to Bitcoin’s own unpredictability. The chart embodies the fusion of finance and community culture that is the quintessential reason Bitcoin continues to succeed.

The Evolution of the Bitcoin Rainbow Chart

In…

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Crypto lawyer says $20M settlement is 99.9% win for Ripple

Prominent cryptocurrency attorney John E. Deaton has offered insights into the Ripple Labs XRP lawsuit against the Securities and Exchange Commission (SEC). He contends that a settlement valued at $20 million or less would constitute a significant legal triumph for the company.

In a recent X social media post, Deaton strongly refuted the idea that the lawsuit’s result was an even 50-50 outcome for the SEC, asserting that it leaned closer to a 90-10 advantage in favor of Ripple. Deaton’s remarks were prompted by a post from Stuart Alderoty, Ripple’s Chief Legal Officer, highlighting another legal setback for the SEC.

Deaton’s viewpoint resonates with the sentiment in the…

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Elon Musk launches AI chatbot ‘Grok’ — says it can outperform ChatGPT

Elon Musk and his artificial intelligence startup xAI have released “Grok” — an AI chatbot which can supposedly outperform OpenAI’s first iteration of ChatGPT in several academic tests.

The motivation behind building Gruk is to create AI tools equipped to assist humanity by empowering research and innovation, Musk and xAI explained in a Nov. 5 X (formerly Twitter) post.

Just released Grokhttps://t.co/e8xQp5xInk

— Elon Musk (@elonmusk) November 5, 2023

Musk and the xAI team said a “unique and fundamental advantage” possessed by Grok is that it has real-time knowledge of the world via the X platform.

“It will also answer spicy questions that are rejected by most other AI…

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