Cryptocurrency rug pulls are not too difficult to be spotted by investors as the majority of such scams usually share distinct and visible features, according to a new report.

Blockchain security auditor Hacken on Oct. 25 released its latest security insights report, aiming to spot the trends in Q3 crypto hacks and evaluate how affected projects approached security.

The report paid specific attention to rug pulls, which is a type of exit scam occurring when a team pumps their project’s token before the sudden withdrawal of liquidity. According to Hacken, crypto rug pulls made up the largest amount of exploits in crypto, accounting for more than 65% of all hacks in Q3 2023.

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Volatility across the crypto derivatives market leaped to fresh local highs this week following a surge led by major blue chip asset bitcoin (BTC).

A two-month period of relatively muted market activity had placed the world’s largest digital asset in relative stasis, trading within a $2,000 range. But on Monday, the market sprang to life, with a 14% rise in the asset’s price topping out at just above $35,000 on Tuesday.

That activity caused a flush of large leveraged short positions, creating a short squeeze — short sellers closing out their positions “en mass” — Bradley Duke, chief strategy officer at ETC Group told Blockworks.

“Only hindsight will be able to tell us if…

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The United States Internal Revenue Service (IRS) has extended the commentaries period for crypto tax reporting rules proposed in August 2023. The public consultation will last until Nov. 13. 

The “Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions” were made public on Aug. 29. According to the regulations, brokers will need to adopt a novel reporting form to streamline tax submissions and reduce instances of tax evasion.

The proposed Form 1099-DA would “help taxpayers determine if they owe taxes, and […] avoid having to make complicated calculations or pay digital asset tax preparation services to file their…

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Cathie Wood-led hedge fund Ark Invest has bet big on two cryptocurrency-focused stocks across its portfolio and one of these stocks has returned the firm banger returns.

Wood’s Portfolio: Both Coinbase Inc. COIN and Block Inc. SQ are among the top holdings in Ark’s flagship ETF, the Ark Innovation ETF ARKK alongside the ARK Next Generation Internet ETF ARKW and the ARK Fintech Innovation ETF ARKF.

Coinbase stake accounts for 8.8% weight in ARKK ETF, next only to Tesla’s 8.9%, with the latest market valuation of $545 million.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga’s Future of Digital Assets event happening in NYC on Nov….

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Despite swirling rumors on social media, ARK Invest’s spot Bitcoin (BTC) exchange-traded fund (ETF) does not appear to be listed on the Depository Trust and Clearing Corporation’s (DTCC) website.

On Oct. 25, numerous high-profile crypto accounts on X (Twitter) including Mike Alfred, Bitcoin News, Simply Bitcoin, Crypto News Alerts and others posted tweets and screenshots claiming ARK Invest and 21 Shares’ joint spot Bitcoin ETF had been listed on the DTCC’s site.

BREAKING:CATHIE WOODS’ ARK SPOT BITCOIN ETF IS NOW LISTED ON THE DTCC WEBSITE WITH TICKER AND CUSIP

— Mike Alfred (@mikealfred) October 25, 2023

However, none of the screenshots showed the correct ticker for the spot…

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In a surprising turn of events, BlackRock Inc. BLK’s proposed iShares Bitcoin BTC/USD ETF, known as IBTC, reappeared on the Depository Trust and Clearing Corporation (DTCC) website after a brief vanishing act, according to Blockworks.

What Happened: The IBTC ETF initially emerged on the DTCC site on Monday, triggering a Bitcoin surge. Bitcoin’s value momentarily exceeded $35,000 before stabilizing around $33,000. Crypto enthusiasts, always on the lookout for news related to spot bitcoin ETFs, were the first to notice the listing, reported Blockworks.

Bloomberg analyst Eric Balchunas observed that BlackRock’s listing was noteworthy as it was the first to be listed on the DTCC,…

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Bitcoin, Ethereum, and Dogecoin were all in the green at the time of publication with the global cryptocurrency market cap rising 0.47% to $1.25 trillion. 

What Happened: The major cryptocurrencies carried over the positive momentum from a rally fueled by expectations surrounding Bitcoin Spot ETFs.

CryptocurrencyGains +/-Price (Recorded at 10:03 p.m. EDT)Bitcoin BTC/USD+1.95%$34,305.63Ethereum ETH/USD+1.77%$1,804.04Dogecoin DOGE/USD+0.00%$0.67

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event – Future of Digital Assets. Tickets are flying-  get yours!

Analyst Takes: Bitcoin’s momentum on Tuesday was driven by the…

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