Author: admin

In brief Decentralized exchange Bunni announced its permanent shutdown Wednesday, saying it lacks the capital for a secure relaunch requiring six to seven figures in audit expenses alone. The September 2 hack drained $8.4 million through flash loan manipulation and rounding errors, with stolen funds remaining unmoved in Tornado Cash-funded wallets. Users can still withdraw assets, and Bunni pledged to distribute remaining treasury to token holders while relicensing its v2 contracts from BUSL to MIT. Decentralized exchange Bunni has announced it is permanently shutting down following an $8.4 million hack last month, with founders saying they lack the capital needed…

In brief Decentralized exchange Bunni announced its permanent shutdown Wednesday, saying it lacks the capital for a secure relaunch requiring six to seven figures in audit expenses alone. The September 2 hack drained $8.4 million through flash loan manipulation and rounding errors, with stolen funds remaining unmoved in Tornado Cash-funded wallets. Users can still withdraw assets, and Bunni pledged to distribute remaining treasury to token holders while relicensing its v2 contracts from BUSL to MIT. Decentralized exchange Bunni has announced it is permanently shutting down following an $8.4 million hack last month, with founders saying they lack the capital needed…

The Financial Transactions and Reports Analysis Centre of Canada (Fintrac) said it fined Xeltox Enterprises Ltd. (which operates as cryptocurrency platform Cryptomus), a record C$176.96 million ($126 million) for widespread compliance failures under federal anti-money laundering and counter-terrorist financing laws.The fine related to over 1,000 suspicious transactions and more than 1,500 large virtual currency transactions that Canada’s anti-money laundering agency said Vancouver-based Cryptomus failed to report between July 1 and July 31, 2024.Investigators said the unreported activity included transactions tied to child sexual abuse material, fraud, ransomware payments and sanctions evasion.Cryptomus, previously known as Certa Payments Ltd., also failed to…

Cyprus’ financial watchdog issued the MiCA licence.It is part of its broader crypto push.It faces fierce competition from fintechs and crypto-native firms.Revolut is set to roll out its crypto services across the EU after securing a licence under the trading bloc’s Markets in Crypto-Assets regulation.On Wednesday, the UK challenger bank announced it had obtained its MiCA licence from the Cyprus Securities and Exchange Commission.“It’s no secret that we have ambitious plans for the crypto sector in the future, and our MiCA license is fundamental to all of that,” Costas Michael, CEO of Revolut Digital Assets Europe, said in a statement…

Pioneers are now allowed to use PI as collateral, borrow stablecoins, or lend to earn yields. The developments surrounding the controversial crypto project Pi Network are quite frequent, and in the following lines, we will focus on the latest one. We will also examine the price performance of the native token PI and assess its potential for a short-term resurgence. ‘Turn Your PI Into Power’ PiBridge, a project related to Pi Network that specializes in offering exclusive services to the community, such as an exchange platform, recently unveiled P2P lending. This means that people can now use their PI…

Quantum Solutions (2338), an AI-focused company that is building an ether ETH$3,883.23 treasury, said its Hong Kong subsidiary, GPT Pals Studio, bought 2,000.13 ether ETH$3,883.23 for $7.85 million on Oct 21.The Tokyo-based company said it now holds 3,865.8 ETH valued at about $15.1 million, with an average cost of $4,101 per ETH. The purchase makes it the world’s 11th-largest ETH digital asset treasury (DAT) and the second-largest outside the U.S., according to CoinGecko data. The largest non-U.S. DAT company, Shanghai-based Intchains, has more than double that number.The purchase was funded through external borrowings and proceeds from recent stock acquisition rights…

[Major Industry News] As market rumors spread about Ripple’s $1 billion acquisition of GTreasury, BlackchainMining, a UK-registered green cloud mining platform, announced the launch of a global incentive program. This program offers a reward pool of up to $77.77 million to XRP holders and new users, ushering in a new era of digital asset appreciation!Say goodbye to the dilemma of holding coins: the moment of wealth awakening for XRP holdersUnlike Bitcoin, XRP is fully distributed from its inception, requiring no traditional mining. This puts many long-term holders in a dilemma: continue to wait for appreciation, or choose the right time…

Decentralized exchange Bunni has announced it is shutting down following an $8.4 million exploit in September, and is now the second crypto project team to throw in the towel this week. In a Thursday X post, the team stated that it will be winding down operations due to a lack of funds.“The recent exploit has forced Bunni’s growth to a halt, and in order to securely relaunch, we’d need to pay 6-7 figures in audit & monitoring expenses alone — requiring capital that we simply don’t have,” they said. The team said they didn’t have considerable amount needed to spend on…

Bunni, a decentralized exchange (DEX) built on Uniswap v4, said it will close permanently two months after an exploit drained some $8.4 million in crypto and left the team without the resources to recover.In a post on X, the team behind Bunni said the cost to securely relaunch the protocol would run into “6-7 figures” for audits and monitoring alone, capital the team no longer has.“It’d also take months of development & BD effort just to get Bunni back to where it was before the exploit, which we cannot afford,” the team wrote. “Thus, we have decided it’s best to…

Prediction market Polymarket is in early talks with investors for a new investment at a valuation of between $12 billion and $15 billion, Bloomberg reported on Thursday, citing people familiar with the matter.That level would mark a more than 10-fold increase from its $1 billion valuation in June, when it raised $200 million in a round led by Peter Thiel’s Founders Fund. Polymarket shot to prominence during the U.S election campaign in 2024 when more than $8 billion in bets were made on the platform. Research by Dune earlier this year suggested Polymarket predicted real-world events with over 90% accuracy.Along…