Latest news with #CorkProtocol
Time of India
a day ago
- Business
- Time of India
Cryptocurrency Live News & Updates : Cork Protocol Hacker Launders Funds, Donates to Legal Fund
26 Jun 2025 | 01:45:10 AM IST Turkey is introducing measures to curb the laundering of illicit funds through cryptocurrency, including withdrawal limits and mandatory waiting periods, according to Finance Minister Mehmet Simsek. Turkey is taking significant steps to prevent money laundering linked to illegal activities by implementing new regulations on cryptocurrency transactions. Finance Minister Mehmet Simsek announced plans for withdrawal limits and waiting periods for crypto assets, aiming to enhance compliance with the travel rule. Meanwhile, the Cork Protocol exploiters have resurfaced, laundering stolen funds through Tornado Cash and even donating to a legal fund for Tornado Cash developers. This highlights ongoing challenges in tracking illicit activities in the crypto space. In market updates, Bitcoin Cash (BCH) has gained 6.0%, leading the CoinDesk 20 Index, while SoFi is set to launch international remittances using stablecoins, signaling a renewed interest in crypto services. Additionally, the Bank of Korea's deputy chief emphasized a gradual introduction of won-denominated stablecoins, reflecting a cautious approach to integrating digital assets into the financial system. These developments underscore the evolving landscape of cryptocurrency regulation and usage across different regions. Show more
Economic Times
a day ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : Cork Protocol Hacker Launders Funds, Donates to Legal Fund
In recent developments, the Cork Protocol hacker has been active again, transferring 4,520 ETH (approximately $11 million) to Tornado Cash, a notorious crypto mixing service. This comes after the attacker exploited the protocol in May, draining millions. In an unexpected move, the hacker also donated 10 ETH to a legal fund for Tornado Cash developers, who are currently facing legal challenges due to the misuse of their platform. Meanwhile, the CoinDesk 20 Index shows Bitcoin Cash leading with a 6.0% gain, reflecting a positive trend in the crypto market. SoFi is set to enhance its digital asset offerings by launching international remittances using stablecoins and reintroducing crypto trading services, signaling a renewed interest in the crypto space. Additionally, the Bank of Korea is considering a gradual introduction of won-denominated stablecoins, emphasizing regulatory caution. Lastly, Bernstein has raised its price target for Coinbase, highlighting its pivotal role in the crypto ecosystem as it continues to dominate U.S. trading despite market challenges. The Cork Protocol exploiter has resurfaced, laundering over $11 million through Tornado Cash and donating 10 ETH to support the legal defense of Tornado Cash developers facing charges. Cork Protocol Hacker Launders Funds, Donates to Legal Fund The Cork Protocol exploiter has resurfaced, laundering over $11 million through Tornado Cash and donating 10 ETH to support the legal defense of Tornado Cash developers facing charges. Bitcoin Cash Leads CoinDesk 20 with 6% Gain The CoinDesk 20 Index is up 0.5% to 2996.59, with Bitcoin Cash (BCH) leading the way with a 6.0% increase. SoFi Introduces Blockchain Remittances with Stablecoins SoFi plans to launch international remittances using blockchain and stablecoins, alongside a relaunch of crypto investing services, including BTC and ETH. Bank of Korea Advocates Gradual Stablecoin Introduction The Bank of Korea's deputy governor suggests a phased introduction of won-denominated stablecoins, starting with regulated banks to ensure user protection and financial stability. Bernstein Raises Coinbase Price Target to $510 Bernstein has increased its price target for Coinbase from $310 to $510, emphasizing its pivotal role as the 'universal bank' of crypto and its dominance in U.S. trading. Dogecoin Surges Past 16 Cent Resistance Dogecoin increased by 1.67% to $0.167, breaking a significant resistance level amid ongoing macroeconomic uncertainties. Bitcoin Traders Prepare for June Options Expiry Bitcoin traders are gearing up for a $20 billion options expiry on June 27, with a focus on maintaining support above $106,000 amid recent market fluctuations. Ethereum Price Tests Critical Resistance Level Ethereum's recent recovery from local lows has brought it to a crucial resistance level at $2,600, which bulls must reclaim to maintain control and avoid a bearish pullback. Presearch Unveils Decentralized Non-Profiling Search API Presearch has launched the first decentralized search API that prioritizes user privacy by not profiling users, accepting payments in Bitcoin, PRE, and USDC. IOTA Price Decline Post-Rebased Upgrade IOTA's token has plummeted 41% to $0.15 following the Rebased upgrade, which aimed to enhance developer engagement but has not yet shown results. Dow Jones Steady as Oil Prices Drop U.S. stocks opened higher on June 25, with the Dow Jones flat amid a fragile Israel-Iran ceasefire, while oil prices fell significantly. H100 Group Increases Bitcoin Holdings H100 Group, a publicly traded Swedish firm, has expanded its Bitcoin portfolio by acquiring an additional 19.38 BTC, bringing its total holdings to 200.21 BTC, which includes 11.63 BTC from convertible loan proceeds. Traders Split on Market Outlook A recent briefing revealed a stark divide among traders regarding short-term market trends, with some expecting a minor rebound and others citing a lack of buying power. Did Hal Finney's 2010 Bitcoin Prediction Come True? In a 2010 forum post, Hal Finney predicted the rise of Bitcoin banks, suggesting that Bitcoin would be used primarily for large transactions while digital cash issued by these banks would facilitate everyday payments. Kalshi Achieves $1 Billion Valuation Amid Legal Clarity Kalshi is reportedly raising over $100 million, achieving a valuation exceeding $1 billion, as the CFTC's legal challenges dissipate, signaling a positive shift for regulated prediction markets. Obtains $120M Insurance for Custody Services has secured $120 million in insurance for its U.S. custody platform, Custody Trust, to protect digital assets against theft and crime. Tax Implications of Recovering Stolen Crypto Recovering stolen cryptocurrency can lead to unexpected tax liabilities, influenced by factors such as prior deductions and the nature of the recovery. Kalshi Joins Polymarket as Latest Unicorn Kalshi has successfully raised over $100 million, achieving a valuation of $1 billion, following Polymarket's recent funding announcement. Corporate Stablecoin Adoption Set to Surge The U.S. Senate has approved a bill to establish a regulatory framework for stablecoins, potentially accelerating corporate adoption as it offers essential clarity on regulations. Trump Media Files for Bitcoin and Ethereum ETF Trump Media & Technology Group has submitted a filing to launch an ETF that invests in bitcoin and ethereum, marking its second cryptocurrency ETF attempt in two weeks. Bitcoin Lightning Network Unveils 'Bitcoin Alpha' Initiative The Bitcoin Lightning Network, in collaboration with Nubit, has launched the 'Bitcoin Alpha' task system, allowing users to earn significant task points. This initiative follows the integration of WLFI's USD1 stablecoin, which has enabled millions of transactions on the network.
Yahoo
28-05-2025
- Business
- Yahoo
DeFi Platform Cork Protocol Suffers $12M Smart Contract Exploit
Decentralized finance (DeFi) platform Cork Protocol has suffered a smart contract exploit, with hackers reportedly stealing $12 million worth of wrapped staked ether (wstETH). Blockchain security monitor Cyvers noticed the exploit, stating that the malicious contract was deployed by a wallet likely funded by a service provider. It added that $12 million worth of wstETH was quickly swapped for ETH. Cork Protocol received investments from a16z crypto and OrangeDAO in September 2024. "There was a security incident affecting the wstETH:weETH market at 11:23 UTC today," Cork wrote on X. Cork added that it has paused all other markets as a precaution and that it is investigating the root cause. Security auditing company Debaub wrote that the attacker likely manipulated an issue with the smart contact's exchange rate by issuing fake tokens. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
31-03-2025
- Business
- Yahoo
Vitalik Buterin's Viral ‘Meow' at Robot Sparks Ethereum Price Speculation as ETH Drops Below $2,000
Vitalik Buterin, Ethereum's co-founder, went viral after a video surfaced showing him kneeling in front of a robot and making what sounded like a 'meow' noise. The video quickly made waves on social media, with crypto influencers and traders weighing in on the quirky moment. Wendy O, a well-known crypto influencer, humorously posted, "The future of Ethereum is in this man's hands… Meow," while Phil Fogel, co-founder of Cork Protocol, acknowledged that while his professional life and net worth depended on Buterin, he still found the interaction amusing. The video sparked speculation within the community, with some viewers jokingly linking it to Ethereum's market struggles. At the time of the video's release, Ether had fallen below $2,000, marking a significant drop from its peak of over $4,000 in December 2024. Many in the crypto space expressed concern about Buterin's leadership amid the price drop. Pseudonymous trader "sgp" remarked, 'while Ethereum is doing -5% 1-minute candles, Vitalik is busy meowing at a robot.' Others expressed fears that the future of Ethereum was tied to Buterin's actions. As Ether sits at around $1,788, down by more than 13% in the last month, some traders like Alex Becker see it as a long-term buying opportunity. Becker believes that Ethereum is undervalued, predicting substantial gains over the next two years if the market doesn't experience a major global downturn. The viral video, while amusing, has also highlighted some of Ethereum's ongoing challenges. One key issue is the increasing adoption of layer-2 solutions, which are moving projects away from Ethereum's main network, causing a decline in demand for transactions on the main chain. Castle Island Ventures' Nic Carter has pointed out that this shift could devalue Ethereum in the long term. Ethereum's dynamic monetary policy, which allows for flexible token issuance unlike Bitcoin's fixed supply, has also raised concerns about over-issuance and its potential impact on the currency's value. Despite these concerns, Buterin remains influential in the Ethereum ecosystem, pushing for continued development and scaling strategies. His playful behavior, such as the 'meow' at the robot, continues to attract attention and provoke reactions from both supporters and critics. This is not the first time Buterin's antics have sparked debate; at Token2049 Singapore in September 2024, he made headlines by calling out "cringe" crypto anthems and singing on stage, highlighting his unconventional public persona. As Ethereum faces volatility and long-term challenges, the crypto community remains focused on Buterin's leadership, knowing that his decisions will play a significant role in shaping Ethereum's future.
Yahoo
31-03-2025
- Business
- Yahoo
Vitalik Buterin's Viral ‘Meow' at Robot Sparks Ethereum Price Speculation as ETH Drops Below $2,000
Vitalik Buterin, Ethereum's co-founder, went viral after a video surfaced showing him kneeling in front of a robot and making what sounded like a 'meow' noise. The video quickly made waves on social media, with crypto influencers and traders weighing in on the quirky moment. Wendy O, a well-known crypto influencer, humorously posted, "The future of Ethereum is in this man's hands… Meow," while Phil Fogel, co-founder of Cork Protocol, acknowledged that while his professional life and net worth depended on Buterin, he still found the interaction amusing. The video sparked speculation within the community, with some viewers jokingly linking it to Ethereum's market struggles. At the time of the video's release, Ether had fallen below $2,000, marking a significant drop from its peak of over $4,000 in December 2024. Many in the crypto space expressed concern about Buterin's leadership amid the price drop. Pseudonymous trader "sgp" remarked, 'while Ethereum is doing -5% 1-minute candles, Vitalik is busy meowing at a robot.' Others expressed fears that the future of Ethereum was tied to Buterin's actions. As Ether sits at around $1,788, down by more than 13% in the last month, some traders like Alex Becker see it as a long-term buying opportunity. Becker believes that Ethereum is undervalued, predicting substantial gains over the next two years if the market doesn't experience a major global downturn. The viral video, while amusing, has also highlighted some of Ethereum's ongoing challenges. One key issue is the increasing adoption of layer-2 solutions, which are moving projects away from Ethereum's main network, causing a decline in demand for transactions on the main chain. Castle Island Ventures' Nic Carter has pointed out that this shift could devalue Ethereum in the long term. Ethereum's dynamic monetary policy, which allows for flexible token issuance unlike Bitcoin's fixed supply, has also raised concerns about over-issuance and its potential impact on the currency's value. Despite these concerns, Buterin remains influential in the Ethereum ecosystem, pushing for continued development and scaling strategies. His playful behavior, such as the 'meow' at the robot, continues to attract attention and provoke reactions from both supporters and critics. This is not the first time Buterin's antics have sparked debate; at Token2049 Singapore in September 2024, he made headlines by calling out "cringe" crypto anthems and singing on stage, highlighting his unconventional public persona. As Ethereum faces volatility and long-term challenges, the crypto community remains focused on Buterin's leadership, knowing that his decisions will play a significant role in shaping Ethereum's future. Sign in to access your portfolio
