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Euler Finance hacker returns ‘all of the recoverable funds’

  • Euler Finance has announced a total possible recovery of all the stolen funds.
  • The recovery ends the $1 million bounty that Euler Labs had issued.
  • The total recovery comes after Euler Finance convinced the hacker to return the money.

Euler Finance has today announced that the total refundable funds have been returned twenty-three days after the protocol was hacked.

Euler convinced the hacker to return most of the funds in a back-and-forth that resulted in the return of the total refundable funds. The hacker stole $196 million worth of cryptocurrency assets including 8,877,507.35 DAI, 34,413,863.42 USD Coin, 85,818.26 staked Ether (StETH), and 849.14 wrapped Bitcoin (WBTC).

After the hack, the total value locked (TVL) in Euler Finance smart contracts dropped to $10.37 million from above $311 million.

Euler’s effort to recover the funds

The next day after the hack, Euler Labs took serious steps to recover the funds and disabled its vulnerable etoken module and donation function. It also partnered with auditing firms in analyzing the root cause of the hack.

On March 14, Euler sent an on-chain message to the hacker saying:

“Following up on our message from yesterday. If 90% of the funds are not returned within 24 hours, tomorrow we will launch a $1M reward for information that leads to your arrest and the return of all funds.”

While the hacker did not comply with the 24-hour ultimatum, the hacker started moving funds at will, mixed some of the funds on Tornado Cash and sent an alleged victim some funds.

Euler Labs on March 21 launched a $1 million bounty reward for any information about the hacker after the hacker ghosted the protocol mid-conversation as the protocol was trying to strike a deal.

The hacker then started returning the funds on March 25

The final transaction was made on March 4 where the hacker sent 12 million DAI, and 10,580 ETH in several transactions.

Following the total refund of the funds, Euler Finance stated:

“Because the exploiter did the right thing and returned the funds, and the $1 million reward campaign launched by the Euler Foundation will no longer be accepting new information.”

The price of EUL, the native token of Euler Finance, has surged by more than 13% following the news and was trading at $3.9143 at press time.

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Another crypto exchange has decided to exit the U.S.

  • Bittrex is quitting the United States due to regulatory uncertainty.
  • The crypto exchange will now commit to growing Bittrex Global.
  • CEO Lai says customer funds are safe and available to withdraw.

Bittrex was in focus on Monday after the crypto exchange said it’s about to wind down its operations in the United States.

Why is Bittrex quitting the U.S.?

The Seattle-headquartered firm attributed the move to continued regulatory uncertainty in the U.S. Customers were relieved, though, after CEO Richie Lai confirmed that their funds were safe.

All customer funds are safe and available to withdraw; however, it’s just not economically viable for us to continue in the current U.S. regulatory and economic environment.

The platform will be available for trading until April 14th but customers will be able to withdraw funds through the end of this month, he added.

In February, Bittrex had cut 83 jobs citing market downturn.

What’s next for Bittrex exchange?

The crypto exchange will now commit to growing Bittrex Global – its platform for customers outside of the United States that will remain operational.

In October, a U.S. regulator announced a $53 million fine on Bittrex for failing to meet anti-money laundering requirements and not blocking users from sanctioned countries, including Iran and Cuba. According to CEO Lai:

Regulatory requirements are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape.

Bittrex was founded in 2014. It’s leaving the U.S. only shortly after peer Nexo Inc announced a similar decision after facing regulatory scrutiny.

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Could Ripple Rally After a Positive SEC Ruling? Comparing Metacade and XRP Price Predictions for 2023-2030.

The XRP price prediction suffered recently after its parent company, Ripple, was the subject of a high-profile lawsuit with US regulators. However, recent news has come to light that could boost the long-term prospects of Ripple and XRP.

Elsewhere in Web3, Metacades’ (MCADE) announced that it will launch on several digital asset exchanges after seeing major success during the MCADE token presale. Investors are bullish on the future of both XRP and MCADE – but which token is the best buy right now? 

Bullish developments for Ripple and Metacade

Ripple (XRP) has received positive news regarding its ongoing court case with the Securities and Exchange Commission (SEC). The SEC filed charges against Ripple in 2020 on the grounds that XRP, the digital asset that was created by Ripple, is an unregistered security as opposed to a cryptocurrency.

Monica Long, president of Ripple, told CNBC that she is “very hopeful” that there will be a positive outcome from the SEC trial later in 2023. The positive news caused a surge in the price of XRP, as the token climbed over 30% in a single day.

The long-term XRP price prediction has improved due to recent rumors. Meanwhile, Metacade continues to make great strides as the project has announced that the MCADE token will be released on UniSwap on 6th April.

Metacade is fresh from a highly successful presale event in which $16.35m was raised from early-stage crypto investors. The UniSwap IDO will be followed by two CEX listings: Bitmart in April and MEXC in early May. 

What is XRP?

XRP is a digital asset that was created by a US-based FinTech company called Ripple Labs. The token was designed to act as a bridge for international transactions, offering a high-speed and low-cost alternative to traditional payment methods.

XRP is built on a decentralized network that is not controlled by any one entity. While it can be used by financial institutions to provide instant liquidity for cross-border transactions, XRP is also the native currency of the XRP Ledger. This decentralized blockchain network can support the development of decentralized applications (dApps).

XRP price prediction: Can XRP reach $1 in 2023?

Any positive outcome from Ripple’s court case with the SEC is widely considered to produce a massive amount of buy pressure for the XRP token. The cryptocurrency has real-world utility, and its network has been adopted by major financial institutions already, including The Bank of England and Santander.

The long-term XRP price prediction places XRP at $4.20 as long as the SEC case reaches a positive conclusion in the near future. In 2023, investors can expect significant price action as the short-term XRP price prediction targets the $1 resistance level.

What is Metacade?

Metacade is a comprehensive GameFi platform offering the largest collection of play-to-earn (P2E) arcade games found on the blockchain. While most GameFi platforms offer only a single gameplay experience, Metacade offers a vast selection to gamers alongside generous cryptocurrency reward potential.

Metacade also aims to become a central hub for Web3 users by introducing several unique earning mechanics to the metaverse. The project takes the P2E mechanic to the next level and can serve investors, entrepreneurs, and gamers alike through its broad blockchain offering.

How does MCADE work?

The MCADE token is used to reward gamers in the metaverse arcade. Token holders can also stake MCADE on the platform to earn a passive yield and vote in governance proposals to help achieve consensus in the community-led project.

The metaverse arcade will offer both casual and competitive gameplay to blockchain gaming enthusiasts. Players can play solo and earn rewards while trying to beat their high score or join paid entry tournaments for the chance to win significant crypto prizes.

Metacade will also reward content creators with community contributions through the Create2Earn feature. This element of the platform will reward users with MCADE tokens as they post game reviews, share alpha, and interact with other community members’ posts.

The project will advertise open positions through a crypto jobs board as part of the Work2Earn feature. Work2Earn will connect blockchain users to paid roles at some of Web3’s hottest start-ups and can even include one-time gigs, such as testing out new P2E games before they are officially released.

Can MCADE reach $0.50 in 2023?

The MCADE token presale has generated significant momentum for the new project, which is expected to produce significant returns from the current price level. MCADE will soon launch on various digital asset exchanges after the presale saw the token’s price rise from $0.008 to $0.02.

By the end of 2023, MCADE is expected to reach the $0.50 price level – a 22x gain from the end of the token presale. Speculators are overwhelmingly bullish about the project’s future prospects, as it has a unique value offering within the GameFi movement and extensive utility for the native token.

MCADE vs. XRP price prediction: Which token is worth buying?

As the SEC trial nears an end, the XRP price prediction could explode over the coming months and years. On the other hand, MCADE is one of the most exciting new projects in the GameFi space, a highly disruptive development for the wider gaming industry.

Both the MCADE and XRP price predictions forecast significant returns from the current price level. Metacade is likely to produce a higher percentage return due to the project being in its early phase. The upcoming exchange listings could be the perfect time to add MCADE to a long-term investment portfolio. 

You can buy Metacade here.

The post Could Ripple Rally After a Positive SEC Ruling? Comparing Metacade and XRP Price Predictions for 2023-2030. appeared first on CoinJournal.

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Cosmos Price Predictions For 2023. Could AltSignals’ ASI Token Outperform ATOM?

Many investors are looking for the next big opportunity, with the crypto market looking bullish in recent weeks. Cosmos and AltSignals are two names that keep cropping up, but which one is the better investment? In this article, you’ll read some expert Cosmos price predictions and determine whether AltSignals could outperform ATOM in 2023.

Cosmos (ATOM) Has Gone From Strength to Strength

Cosmos, termed the “Internet of Blockchains,” is a revolutionary ecosystem designed to address the issues of interoperability, scalability, and security that have long plagued the cryptocurrency space. It effectively allows unrelated blockchains, like Bitcoin and Ethereum, to interact and exchange information with one another, opening up an entire world of new use cases and functionality. 

This incredible utility has put Cosmos ahead of the pack regarding price performance. While much of the crypto market has lagged behind in recent months, ATOM has posted plenty of bullish price action. From its June 2022 low of $5.55, it increased over 200% to $17.2 in September. Similarly, in mid-March, ATOM rose 31% from $10.29 to $13.48 over the course of four days.

A number of bullish developments on the chain will likely support ATOM’s future price performance. Independent blockchains can now purchase security from validators of the Cosmos hub, which will boost staking rewards for ATOM holders and bring more value to the ecosystem. 

Moreover, the Inter Blockchain Communication (IBC) protocol, which enables interoperability across Cosmos’ native blockchains, saw the number of projects built using its technology grow from 32 in Q4 2021 to 53 in Q4 2022. This is a sign that Cosmos’ adoption is picking up, and could drive future price growth.

Cosmos (ATOM) Price Prediction

Due to the bullishness surrounding ATOM, Cosmos price predictions for 2023 have been rising in recent weeks. ATOM is currently worth around $12, but many see it reaching at least $22 before the year ends. More optimistic Cosmos price predictions have been set in the $27 to $33 range, which seems possible given recent developments on the network. 

In a best-case scenario, some experts have even placed Cosmos price predictions at $39. If this occurs, then today’s investors could be up approximately 225%!

AltSignals (ASI) Is Paving the Way for AI-Based Trading Solutions

AltSignals is a highly regarded trading signals provider founded in 2017, catering to crypto, forex, and stock market traders. Over the years, AltSignals has built up a solid reputation and amassed a community of over 50,000 free subscribers and 1,400 VIP members. It has issued over 1,500 highly-accurate trading calls, achieving a 64% average win rate and producing some phenomenal returns. 

For example, AltSignals returned its Binance Futures subscribers 4,643% across 23 Binance Futures trades in January and February, achieving an average 91% win rate. These results are supported by the platform’s Trustpilot page, which boasts a 4.9/5 star rating over nearly 500 positive reviews. 

AltSignals’ success can be attributed to the proprietary AltAlgo™ indicator, which scans the markets to identify real-time trading opportunities using over 34 different strategies and filters. This indicator is coupled with AltSignals’ team of pro traders, who are now looking to take their next step with the ASI token and ActualizeAI algorithm. 

This algorithm will leverage various leading AI technologies, including predictive modeling and sentiment analysis, to refine the existing AltAlgo system and deliver unparalleled trading signals. ASI token holders gain exclusive access to this state-of-the-art AI-driven algorithm, ActualizeAI, allowing them to stay ahead of the market and optimize their trading performance. 

Owning the ASI token also grants investors entry into the AI Members Club, where they can participate in product testing, contribute ideas, and be the first to try new updates made to the ActualizeAI algorithm. Not only does this help to create an engaged community with a stake in AltSignals’ development, but it also offers investors opportunities to earn additional ASI tokens as a reward for their efforts. 

These extra ASI tokens can then be accumulated to unlock more advanced features of the ActualizeAI ecosystem, providing users with enhanced trading insights and tools. Alongside other valuable features, like entry into trading tournaments and a say in the platform’s governance, ASI offers holders outstanding utility. This could lead to substantial price appreciation in 2023, according to analysts. 

AltSignals (ASI) Price Prediction

While AltSignals’ ASI token will finish presale at $0.02274, many 2023 forecasts see it reaching much higher. Some consider this price exceptionally undervalued, given AltSignals’ proven track record and potential to transform the trading signals industry. As a result, predictions have been made for ASI to hit $0.40 by the end of 2023.

Even bolder projections put ASI as high as $0.70, which isn’t impossible. If this level is reached, then even the latest presale investors could be seeing gains of almost 3,000%.

Which One Should You Invest In?

While Cosmos’s price predictions are undoubtedly optimistic, its profit potential for 2023 has nothing on AltSignals. With the ASI token’s introduction and the ActualizeAI algorithm’s development, AltSignals has the potential to leverage its already sizeable community to create significant demand for its token.

Investors getting involved today can look forward to potentially even more profit. That’s because ASI is still in its launch phase of the presale, worth $0.012. You won’t want to miss out on the ASI token presale – it could just be one of the best-returning tokens of 2023. 

You can participate in the ASI presale here.

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Least amount of Bitcoin on exchanges since the previous bull market top in December 2017


Key Takeaways

  • The balance of Bitcoins on exchanges is in constant decline, now at the lowest point since December 2017 
  • Meanwhile, long-term investors continue to hold, soaking up the supply
  • Coins that have not been touched in 10 years now outnumber those held on exchanges 

I wrote a piece last week on the exodus of stablecoins from exchanges, with the balance currently the lowest since October 2021, with 45% of the total balance of stablecoins on exchanges flowing out in the last four months. 

But the glut in liquidity is not limited to stablecoins. The world’s biggest cryptocurrency is also seeing funds flow out. Only 11.8% of the total Bitcoin supply is currently on exchanges – that is the lowest since December 2017. 

To jot your memory, December 2017 was the previous bull market peak. Bitcoin rose to within a hair of $20,000 before freefalling into a two-year-long bear market which ravaged the entire industry.

Since January 2020, exchanges’ reserves of Bitcoin have been only going one way: down. It hints at the demand/supply imbalance that so many Bitcoin truthers advocate for, with the much-vaunted hard supply cap of 21 million coins for Bitcoin. 

If demand keeps rising, they argue, the price can only go up because supply cannot keep up. 

Central to this thesis is the resilience of long-term holders to keep a firm grasp on their bitcoins. And when assessing whether they have, the answer is a resounding yes. 

The below chart presents long-term holders against the total exchange balance. In November 2022, the number of bitcoins last active 10+ years ago overtook the number of bitcoins on exchanges. 

Of course, some of these long-term holders will be lost coins, either via their owner dying or losing their private keys. 

But the stat is still interesting and speaks to the cohort of (very) early investors in Bitcoin who remain clinging to their coins with all their might. Remember, this includes the anonymous Satoshi Nakamoto, who is estimated to hold over 1 million coins, or 5% of the total supply. 

Below is the chart displaying the current portion of the Bitcoin supply split out by time held and compared to the exchange balance. 

The result is interesting, but even more so when considering that the last three years brought both the euphoric highs of Bitcoin at nearly $70,000 during the pandemic and then the bone-crushing fall through 2022, which saw it careen down towards $15,000. 

In terms of the long-term trajectory of Bitcoin, it’s undoubtedly bullish. Of course, it all depends on whether the demand for additional Bitcoin will hold up. The supply may be getting squeezed, but that is all for nothing if the demand side doesn’t hold up its end of the bargain. 

And on that note, the last year has been a big blow. Not only has capital flowed out of the space at an alarming rate, but a number of very high-profile scandals (LUNA, Celsius, FTX and so on) have rocked the space. The fear is that these episodes have dented the reputation of the cryptocurrency space and will inhibit the demand for Bitcoin on the intuitional side. Have people been put off moving into the space?

It’s hard to say. But in looking at long-term holders, their confidence seems resolute. 

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