Monat: Februar 2024

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Sky Mavis co-founder’s wallets hit in $9.7M ETH exploit

  • Jeffrey Zirlin said the hack compromised two of his personal wallets.
  • The breach reportedly did not impact Ronin chain’s validation or operational aspects.

Jeffrey Zirlin, co-founder of Sky Mavis, has confirmed that a hacker has compromised two of his personal wallets.

Data shared by blockchain security firm PeckShield shows that the hacker stole approximately 3,248 Ether, worth about $9.7 million. The attacker withdrew the loot from the Ronin Bridge, with transfers made to the crypto mixing platform Tornado Cash.

Zirlin, whose Sky Mavis is the firm behind popular crypto game Axie Infinity hosted on the Ronin sidechain, however noted that the attack did not impact Ronin.

“The attack is limited to my personal accounts, and has nothing to do with validation or operations of the Ronin chain,” Zirlin posted on X. 

“Additionally, the leaked keys have nothing to do with Sky Mavis operations. I want to assure everyone that we have strict security measures in place for all chain related activities.”

An exploit on Ronin in March 2023 saw hackers steal $625 million in crypto. Law enforcement and blockchain security providers later linked the attack to Lazarus Group, a North Korea-backed hacker group.

Ronin (RON) price fell sharply today following the Sky Mavis co-founder’s hack news, dipping from $3.17 to lows of $2.74. RON was down 6% in the past 24 hours. Meanwhile, Axie Infinity (AXS) near $7.78, largely flat on the day.

The post Sky Mavis co-founder’s wallets hit in $9.7M ETH exploit appeared first on CoinJournal.

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StarkWare adjusts STRK unlock schedule as Bitcoin Dogs soars

  • StarkWare updates token unlock schedule as interest in Bitcoin Dogs grows
  • Bitcoin Dogs presale near $4 million milestone amid massive investor interest.
  • Bitcoin Dogs’ token $0DOG is the first BRC-20 ICO on Bitcoin.

StarkWare, the developer firm supporting the Ethereum Layer-2 protocol Starknet, has heeded to community feedback, changing the unlock schedule of allocated STRK tokens. 

As the crypto community mulls what this means for Starknet ecosystem contributors, new crypto project Bitcoin Dogs continues to dominate the presale market. With its value proposition, it’s emerging as one of the best ICO projects today.

StarkWare adjusts token unlock

On Thursday, StarkWare announced an update to the unlocking schedule for the Starknet (STRK) token – news that saw the price of recently launched token rise sharply. The platform acted after criticism over a schedule that would have seen a massive chunk of the allocated 1.3 billion STRK unlocked in April.

The new schedule significantly cuts the amount of tokens to be unlocked and charts a gradual release over the next few years.

According to the revised schedule, 64 million, or 0.64% of the initial 10 billion supply will unlock on April 15 – not the earlier planned 1.34 billion drop. StarkWare will unlock 6.4% of the allocated tokens every month until March 15, 2025.

This program will see 580 million STRK tokens allocated to early contributors and investors unlocked in 2024, compared to the 2 billion earmarked under the previous schedule. More unlocks will follow over the next three years, with 1.4 billion in 2025, 1.5 billion in 2026 and 380 million by March 15, 2027.

Starknet airdropped over 700 million STRK tokens to early users and other eligible wallets early this week.

Bitcoin Dogs presale is flying

Bitcoin Dogs launched as the first-ever ICO on the Bitcoin blockchain in mid-February – specifically on February 14, 2024.

In under a week, the project’s presale for the native $0DOG token has raised nearly $4 million from early investors. With a new era not just for gaming and NFTs on Bitcoin, but for the crypto investment space at large, the fast-paced ICO is a revelation that is sending ripples across the industry.

As the Bitcoin Dogs team notes on their website, this is a project that is more than just a new BRC-20 token. It comes packed with an entire range of offerings, including a metaverse environment where $0DOG holders can raise, trade and earn from their virtual dogs through tournaments.

Take Bitcoin’s evolving DeFi, NFT and game ecosystem and put all that into a first mover project – that’s what Bitcoin Dogs is building. The best of Tamagotchi, Axie Infinity and BAYC or Cryptopunks come alive in this digital dog ecosystem.

Eager to claim a piece of $0DOG history, crypto enthusiasts are flocking to the Bitcoin Dogs presale in packs. The ICO window is only 30 days, which means the 810 million of the 900 million $0DOG supply will be sold out by March 15, 2024.

How is the Bitcoin Dogs roadmap after presale?

According to the project’s whitepaper, any $0DOG (or “stray dogs”) left hanging after the presale closes will be burned. No hidden tokens or cliff unlocks to concern yourself with – just pure love for the digital pets that participants will have grabbed during the sale.

The era of the $0DOG then begins with official trading on exchanges after users claim their BRC-20 tokens. Product development, as highlighted in the Bitcoin Dogs roadmap, will bring GameFi on Bitcoin with an NFT debut, Beta Launch and play-to-earn partners in Q2, 2024.

More milestones for this exciting project include the much anticipated canine craze come in Q3 with the official game launch, while multi-chain support and DAO governance are planned for Q4, 2024.

Today’s $0DOG presale price of $0.0198 has already locked in gains for early buyers after the increase from the initial $0.015. Set to jump every 72 hours, $0DOG price will rise to $0.0404 during the ICO phase, indicating an early 169% advantage for stage 1 participants.

While now down by two stages, one can still position before the next increase. Learn more here.

The post StarkWare adjusts STRK unlock schedule as Bitcoin Dogs soars appeared first on CoinJournal.

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Riot Platforms and Texas Blockchain Council challenge EIA’s Bitcoin Mining data demands

  • TBC and Riot Platforms sue EIA over Bitcoin data demands, alleging intrusion.
  • Senator Warren’s involvement is seen as part of a broader political strategy.
  • Bitcoin mining faces scrutiny for energy consumption, environmental impact.

In a bold move against the US Energy Information Administration (EIA), the Texas Blockchain Council (TBC) and crypto miner Riot Platforms have filed a lawsuit, alleging unlawful data collection demands targeting the Bitcoin mining sector.

EIA’s data collection plan 

Last month, the EIA announced plans to collect data on electricity consumption by certain US-based crypto miners, effective from early February. Commercial miners were mandated to disclose intricate details, including the types of machines used and the locations of their mining operations. The controversial move followed an emergency approval from the Office of Management and Budget on January 26.

TBC, a non-profit association, expressed concerns over the sensitive nature of the information requested, fearing potential public disclosure. The council sees this as a direct assault on private businesses, characterizing it as a political manoeuvre under the guise of an emergency.

The TBC points fingers at Senator Elizabeth Warren and the Biden administration, accusing them of orchestrating a targeted effort against the digital asset industry. The EIA’s push for oversight is viewed as an intrusion and a worrying escalation in monitoring and regulating the cryptocurrency sector.

As part of a broader strategy, Senator Warren and other Democratic lawmakers had previously urged major US crypto mining companies to disclose their energy usage. The current legal action represents a firm industry backlash against what is perceived as increased regulatory scrutiny.

Bitcoin Mining realities and environmental considerations

The EIA, in a report dated February 1, highlighted a significant jump in annual electricity consumption by crypto miners, from 0.6% to 2.3%. Despite the benefits of Bitcoin mining, such as network decentralization and profit opportunities, the industry faces growing scrutiny due to its environmental impact.

The Rocky Mountain Institute estimates global Bitcoin mining consumes around 127 terawatt-hours annually. This has sparked debates about the environmental sustainability of the industry. Proponents argue that compared to traditional sectors like banking, Bitcoin’s energy usage is relatively lower, but critics remain concerned about its contribution to global energy consumption.

As the legal battle unfolds, the cryptocurrency industry finds itself at the crossroads of regulatory pressures and environmental accountability, navigating the delicate balance between innovation and responsibility.

The post Riot Platforms and Texas Blockchain Council challenge EIA’s Bitcoin Mining data demands appeared first on CoinJournal.

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Kraken challenges SEC lawsuit, alleges political retaliation

  • Kraken challenges SEC lawsuit, citing political retaliation for its criticism of regulatory overreach.
  • Exchange refutes SEC’s claims, arguing assets don’t meet legal criteria, and the Howey test is not applicable.
  • CEO Dave Ripley alleges SEC lawsuit politically motivated.

San Francisco-based cryptocurrency exchange Kraken has filed a motion to dismiss a lawsuit brought against it by the US Securities and Exchange Commission (SEC). The SEC filed a lawsuit against Kraken in November 2023 alleging the exchange was operating without registration.

The move comes amid escalating tensions between regulatory authorities and the crypto industry, with Kraken CEO Dave Ripley asserting that the SEC’s lawsuit is retaliation for the exchange’s vocal criticism of regulatory overreach.

Kraken counters SEC allegations

In its motion to dismiss, Kraken refutes the SEC’s claims of operating an unregistered platform for “investment contracts,” arguing that none of the assets in question meet the legal criteria for such classification.

The exchange contends that the SEC has failed to identify any contractual agreements between Kraken users and token issuers, a requirement under established legal precedent. Moreover, Kraken asserts that crypto tokens do not satisfy the Howey test, a key determinant used by U.S. authorities to define securities transactions.

According to Kraken’s legal team, the absence of any fraud accusations further undermines the SEC’s case, calling into question the basis of the regulatory agency’s legal claims.

Kraken CEO Dave Ripley has publicly criticized the SEC, alleging that the lawsuit is politically motivated. Ripley points to the timing of the legal action, which followed Kraken’s testimony before congressional committees regarding what the exchange perceives as regulatory overreach in the crypto industry. 

This assertion underscores growing tensions between crypto innovators and regulatory authorities, with Ripley emphasizing the importance of protecting free speech and innovation in the United States.

Implications for crypto regulation

The outcome of Kraken’s legal battle with the SEC could have far-reaching implications for the crypto industry’s regulatory landscape. As government agencies seek to assert greater oversight over digital assets, exchanges like Kraken are pushing back against what they perceive as regulatory overreach. The case highlights the complex interplay between innovation, regulation, and political dynamics in the rapidly evolving world of cryptocurrencies.

As Kraken continues to challenge the SEC’s lawsuit, the crypto industry watches closely, mindful of the potential precedent-setting implications for regulatory enforcement and free expression in the digital asset space.

The post Kraken challenges SEC lawsuit, alleges political retaliation appeared first on CoinJournal.

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Senator Elizabeth Warren labels John Deaton’s senate bid a ‘threat’

  • Warren deems Deaton a “threat” in the Massachusetts Senate race.
  • Warren has been pushing for crypto regulation, while Deaton champions blockchain innovation.
  • Massachusetts primaries on Sept 3, 2024, will decide the fate of Warren and Deaton’s showdown.

In a fierce political battleground, Senator Elizabeth Warren of Massachusetts has deemed her Republican opponent, John Deaton, a formidable “threat” as she mobilizes supporters to secure her seat.

Deaton, a notable pro-XRP attorney from Rhode Island, announced his appetite for the Massachusetts Senate seat about a week ago, setting the stage for a compelling Senate race.

Warren’s concerns and fundraising appeal

Senator Warren wasted no time expressing her concerns about Deaton’s campaign, criticizing his out-of-state origins and questioning his ability to represent Massachusetts effectively.

The “Warren for Senate” campaign emails, revealed recently, emphasize the urgency of supporting Warren financially to counter what she perceives as a serious challenge.

Adding a layer of complexity to the race is the contentious issue of cryptocurrency regulation. Warren, a vocal advocate for increased oversight in the crypto sector, claims that the “crypto lobby has put a target on my back.” The Senator recently proposed the Digital Asset Anti-Money Laundering Act (DAAMLA), drawing criticism from industry players who argue that stifling blockchain development may outweigh any benefits.

Deaton’s crypto advocacy

In contrast to Warren, Deaton has a significant track record of supporting the crypto sector, gaining attention for his involvement in the SEC vs. Ripple case. The Rhode Island transplant also praised Grayscale for its landmark court victory against the SEC, positioning himself as a candidate aligned with the interests of the crypto industry.

As Massachusetts gears up for the Democratic and Republican primaries on September 3, 2024, the clash between Warren and Deaton promises to be a focal point of political discourse. The battle not only revolves around traditional political ideologies but also delves into the complex realm of cryptocurrency, where regulatory stances may sway voters.

This Senate race showcases a collision of perspectives – Warren’s emphasis on regulatory control versus Deaton’s advocacy for a flourishing crypto industry. 

With fundraising efforts underway and the crypto community closely watching, the outcome of the Massachusetts primaries will undoubtedly shape the future landscape of both the Senate and the crypto sector.

The post Senator Elizabeth Warren labels John Deaton’s senate bid a ‘threat’ appeared first on CoinJournal.