The biggest news in the Cryptoverse on Oct. 26 involves the theft of over $1 million worth of Ethereum in a phishing attack. Vitalik Buterin’s tweet sees ZKP as “necessary” for Ethereum and Binance to overtake Huobi in crypto derivatives trading.
CryptoSlate Top Stories
Phishing attack steals $1 million worth of ETH, NFTs
Scammer “Monkey Drainer” has collected 700 Ethereum (ethereum) by phishing attacks in the last 24 hours. Worth about $1.05 million, the attack was uncovered by on-chain detective ZachXBT.
1/ ~700 ETH ($1 million) was stolen in the last 24 hours by a phishing scammer known as Monkey Drainer.
They recently surpassed 7300 transactions from their drain wallet after being around for just a few months. pic.twitter.com/6vAYBiqCxQ
—ZachXBT (@zachxbt) October 25, 2022
The attackers created a fake website masquerading as a legitimate cryptocurrency business in order to access victims’ wallet address keys and login credentials.
Vitalik says Ethereum needs to make ZK proofs ‘understandable’
Co-Founder of Ethereum Vitalik Buterin He tweeted that creating zero-knowledge proofs (ZKPs) was necessary to keep the Ethereum ecosystem “open and welcoming” to those who don’t understand math.
Calling ZKP a “moon bath,” Buterin tweeted:
“We are very happy that Ethereum has a strong culture that works hard to make the math of all our moons as understandable and accessible to people as possible.”
Binance Overshadows Huobi in Crypto Derivatives Trading
Crypto derivatives trading increased 1.54% month-on-month to reach $2.71 trillion, offsetting 63.4% of all trades in September.
crypto exchange giant binance It accounted for 60.1% of derivatives trading in September, followed by OKX with 16.8%.
ByBit came in 3rd place, controlling 11.7% of the total derivatives market. Huobi, on the other hand, came in 6th place in the dominance. This is a big drop as it was the largest trading platform for derivatives in early 2020.
Australia confirms crypto trading will be subject to capital gains tax
The Australian government has confirmed that cryptocurrency transactions will soon be taxed.
The government’s 2022-2023 budget has been released, and they consider cryptocurrencies as assets rather than foreign currency, making them taxable.
Lawmakers are currently working on a tax framework. Australia does not disclose percentages, but the tax law states that it will be retroactive to income years ending 1 July 2021.
Is China trying to catalyze a cryptocurrency bull market through Hong Kong?
previous bitmex In an article posted on his media account, CEO Arthur Hayes explored China-Hong Kong relations and hinted that China could use Hong Kong as a “window to the world.” .
“Hong Kong (a deep-sea port at the mouth of the Pearl River Delta) has always been China’s window to the world. ,Hong Kong has historically been the place where China and the West meet.”
Monetary Authority of Singapore Proposes New Measures to Regulate Cryptocurrencies and Stablecoins
On October 26, the Monetary Authority of Singapore (MAS) issued two consultation papers outlining the regulatory framework for digital payment token services and stablecoin users.
The paper acknowledges that cryptoassets are “inherently speculative and risky” and aims to limit the activity of digital payment token services.
Hong Kong Monetary Authority Announces Success of CBDC Project mBridge and Key Findings
The Hong Kong Monetary Authority (HKMA) announced the highlights and successes of its Central Bank Digital Currency (CBDC) project mBridge on October 26th.
According to the report, mBridge’s six-week pilot program ran from August 15th to September 23rd. The project has facilitated over 160 payments and foreign exchange transactions worth approximately $22 million in total.
US lawmakers express concern over crypto firms hiring ex-government officials
A group of five U.S. Democratic lawmakers, led by Senator Elizabeth Warren, reached out to several U.S. financial regulators to ask about the “revolving door” between U.S. government agencies and the crypto industry.
The group initially argued that the government’s policy was not created to “respond to the crypto industry’s desire to ‘avoid the kind of regulatory crackdowns it has faced in China and elsewhere'” by US citizens. said to be confident.
Moldova Bans Crypto Mining Amid Energy Crisis
Moldova announced a ban on cryptocurrency mining activities on October 26, citing a growing energy crisis as the reason.
Moldova’s Commission for Emergency Situations (CES) has released a report announcing the ban, and also reveals that Moldova’s President Maia Sandu has ordered government agencies to conserve electricity. As a result, CES proceeded to ban crypto mining.
Crypto Slate Exclusive
Editorial: Is Ethereum Now Under U.S. Control? 99% of Latest Relay Blocks Censor Networks
After the Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, Ethereum co-founder Vitalik Buterin called validators and asked them to cut them if sanctions were implied at the protocol level. I was.
However, the number of blocks compliant with OFAC sanctions has increased over the past few months. Swat Bitcoin Editor-in-Chief, Tomer Strolight, tweeted about the situation showing that about 63% of all his Ethereum blocks are compliant with his OFAC, for attention.
Why is no one talking about this? pic.twitter.com/Nlng6kgHxr
— Tomer Strolight (@TomerStrolight) October 26, 2022
Nearly 61% of BTC holders are submerged as the market continues to stagnate
Bitcoin (BTC) hit a bear market low at $17,600 on June 22nd. While it has recovered to $25,300 and has recently remained in a fairly stable range between $18,100 and $20,500, on-chain data is still keeping Bitcoin investors under wraps.
The UTXO Realized Price Distribution (URPD) chart shows the last existing Bitcoin to move within its respective price bucket.
According to the chart, only 25% of all token holders bought Bitcoin for less than $17,600. Meanwhile, 61% of token holders were in the water when Bitcoin fell to its lowest point.
News around Cryptoverse
Andreessen Horowitz Crypto Fund Drops 40%
venture capital firm Andreessen Horowitz Established a $4.5 billion cryptocurrency fund in May 2022. A bear market set in shortly after, with Horowitz’s fund losing his 40% of market value. wall street journal.
BitMEX CEO resigns
CEO of crypto exchange platform BitMEX Alexander Heptner resigned from his role, according to bloombergBitMex CFO Stephan Lutz has been named interim CEO, but Höptner did not give a reason for his departure.
Binance Launches Binance Oracle
According to an announcement post on the BNB Chain website, Binance will launch an Oracle Network to allow smart contracts to run on real-world data. BNB Chain will be the first blockchain to use Binance Oracle.
Over the past 24 hours, Bitcoin (BTC) rose +2.47% to trade at $20,753 while Ethereum (ETH) also rose +4.84% to trade at $1,562.