A flash loan attack on the Avalanche blockchain, according to blockchain cybersecurity firm CertiK, resulted in the theft of $370,000 in USDC from a smart contract and other liquidity providers.
Author: Hassan Shittu
Hassan Shittu
Hassan Shittu contributed to Blockchain Journal as a cryptocurrency journalist, covering blockchain technology, digital asset markets, and broader industry developments. His reporting focused on delivering clear, timely coverage of crypto-related news, with attention to market structure, ecosystem trends, and factual accuracy.
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The well known top crypto swinger, Bitcoin has been unusually stalling its price at approximately $20,000 and hasn’t gone much higher than that since June.
According to an XRP supporter and US legal advisor Jeremy Hogan, who closely observes the Securities and Exchange Commission’s (SEC) crypto lawsuit against Ripple, “Ripple might resolve the SEC’s claims that it sold XRP as an unregistered security as early as this month.”
Until the Ethereum “Merge” is complete, one of the biggest cryptocurrency exchanges in the world FTX will ban ETH transactions on auxiliary blockchains. While the Ethereum network undergoes two significant updates this month, users of FTX will not be able to withdraw or deposit any ETH or ERC-20 tokens to the platform for at least 30 minutes.
The Terra team announces that it will open a claim page for impacted users on September 4. Notably, Terra 2.0, the new blockchain established following the devaluation of the UST and LUNA Classic tokens on the old Terra chain, has not been able to garner the same level of support as the earlier project since some investors have lost faith in Terra founder Do Kwon. (Kwon and Terraform Labs are still being looked into in South Korea for a possible part in the ecosystem’s collapse.)
According to a Sunday Twitter thread from the project’s founding team, the highly anticipated mint for non-fungible token (NFT) project Solana Y00ts has been postponed by one more day.
NFT creator Dapper Labs urged a Manhattan federal court to toss a lawsuit claiming its NBA Top Shot Moments are securities, saying the plaintiffs can’t “make a federal securities case over basketball cards.”
Following the Treasury Department’s ban, the decentralized derivatives exchange, dydx recently came under fire for suspending several accounts connected to Tornado Cash.
A non-fungible token (NFT) representing a stolen passport belonging to Belarus President Alexander Lukashenko has been offered for sale by Belarusian Cyber Partisans, a decentralized anonymous hacktivist group founded in 2020.
The subcommittee on economic and consumer policy of the US House Oversight Committee asked answers from regulators on how they will combat the crypto frauds that have plagued the industry on August 30.
