Crypto Course Update, Bitcoin Reserves Declining, Polygon Hack, Polkadot DeFi Fund and much more..
Good Morning FinTech, 25 October
Massive welcome to the 600 of you who have subscribed since last Monday, we have a total of 2205 amazing strong community here :).
As promised, Cryptocurrency 101 course is under review on Udemy and as soon as it goes live, all of you will get free access (this is my first time with Udemy and i assumed they will allow me to launch my course right on the same day however i have to follow their protocol)
Let’s start with the summary of the Crypto and Stock market in the last 7 days. Ethereum is outperforming Bitcoin and we are seeing this momentum to continue due to the interest surrounding DeFi,NFT and ETH 2.0. S&P500 index, NASDAQ, DOW and Gold is in green as well.
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Binance Bitcoin Balances Are Draining: 40,000 BTC Moved Away from Biggest Crypto Exchange
Binance is facing more outflows, but this time it might not be "natural"...
According to CryptoQuant data, Binance cryptocurrency exchange once again faced a massive fund outflow totaling 38,246 BTC. After a significant drop in the Bitcoin balance, the total balance on the sheets is close to 500,000.
Previously, Binance.US faced a major bug that led to so-called "slippage"—the difference between the expected price of a trade and the actual execution of an order.(covered in the previous newsletter)
Due to the bug that appeared, the price of Bitcoin on Binance.US has dropped to $8,000, with numerous buy orders being executed on the way down. In order to provide more liquidity to the market on Binance.US, the main platform could have moved some of its funds to the U.S.-targeted platform, which is being counted by on-chain metrics as "outflows."
Polygon Dodges $850M Hack, Pays Record $2M Bounty
The team behind the Polygon protocol has paid out a record $2 million bounty to a white hat hacker who discovered a critical vulnerability.
Polygon has broken the record for the largest bounty reward in DeFi with the $2 million reward handed to Gerhard Wagner.
The white-hat hacker discovered a bug in the Polygon Plasma Bridge that allows bad actors to leave their burn transactions by a staggering 223 times.
If left unnoticed, the bug could have been exploited causing significant losses for the network.
an attack carried out with $100,000 could result in losses above $22 million and a full-scale attack will endanger $850 million worth of assets.
the team began fixing the issue within 30 minutes and at press time, the issue had been successfully resolved without recording any loss of user funds.
Polkadot (DOT) founder announces $774 million development fund for DeFi
Wood invited DOT holders to put forward their suggestions for furthering the network’s growth, offering Polkadot’s treasury funds as an incentive.
Following DOT’s rally last week, driven by the announcement of Polkadot’s highly-anticipated parachain auctions, Gavin Wood teased $774 million ready to be spent on innovative ideas.
ClickStream Corp could be your Front-Row Seat to the Best Opportunity of $44.3 Trillion in Mobile Application Market
The Global Direct-to-Consumer (D2C) Language Learning market could nearly double by 2025, reaching a staggering $115B and led by digital, delivering 3X growth in just five years. HeyPal app has been downloaded more than 367000 times on its beta-launch less than 8 months ago in the iOS App Store.
You can read in detail a fundamental research report on ClickStream Corp here:-
Walmart Installs 200 Bitcoin ATMs in Stores As Retail Giant Launches New Crypto Pilot Program
Walmart customers can now add crypto to their shopping lists as the retail giant has started a pilot program that adds Bitcoin-dispensing machines to some of its locations.
In collaboration with digital currency exchange platform CoinMe and coin-cashing machine company Coinstar, the megastore says that it has released 200 Coinstar kiosks in Walmarts around the nation that dispense BTC, according to Reuters.
According to Bloomberg, Walmart’s pilot program is part of a wider effort by Coinstar to release 8,000 kiosks around the country that customers can use to buy BTC.
To use the machines, customers would insert bills and receive a voucher. The buyers would then have to sign up for a CoinMe wallet and pass a background check to redeem the voucher for Bitcoin. The machines charge a 4% fee for BTC purchases, along with a 7% cash exchange fee, according to Coinstar.
3 Million CoinMarketCap Emails Surface Online But ‘No Trace’ of Security Breach
An alleged security breach exposed 3.1 million email addresses of CoinMarketCap users. The popular price aggregator site says it hasn’t been hacked.
Have I Been Pwned (a site that scans the internet for data breaches) discovered on October 12 that emails used on the crypto price aggregator site were being traded on a hacking forum. The suspected leak does not contain passwords.
But CoinMarketCap said in a blog post that the leak “did not come from CoinMarketCap servers.” The company, which is a subsidiary of Binance, said it found “no trace of any security breach.”
CoinMarketCap reportedly told Have I Been Pwned there is “a correlation with our subscriber base,” but that 99% of the emails were already listed in the data breach site, meaning that they had already been exposed by earlier breaches on other sites.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.