Kurz zuvor wurden im Rahmen einer Anti-Korruptions-Initiative 2.000 Kryptowährungs-Mining-Geräte beschlagnahmt.
Solana memecoin protocol pump.fun exploit mastermind arrested in London
- Jarett Dunn, aka @STACCoverflow, arrested in London for Solana memecoin exploit.
- Dunn used flash loans to manipulate pump.fun, stealing $2 million in liquidity.
- Released on bail, Dunn confessed online, citing mental health struggles and grief
The alleged orchestrator of the recent Solana memecoin protocol pump.fun exploit, Jarett Dunn, known online as @STACCoverflow, has been arrested in London.
The arrest follows a sophisticated 26-hour intelligence operation spearheaded by a third-party stakeholder who had enlisted a private intelligence firm to track Dunn’s activities.
Jarett Dunn arrested in Middle Eight Hotel
The operation culminated in the early hours of May 18 when local operatives, or “auxiliaries,” pinpointed Dunn’s location at the Middle Eight Hotel in Covent Garden.
After a seven-hour search, British authorities apprehended Dunn, who has since been released on bail pending his court appearance in August.
The Pump.fun flash loan exploit
Dunn, a former contractor, is accused of exploiting the Solana-based pump.fun protocol by utilizing flash loans from the Raydium lending platform.
Flash loans allow users to borrow large sums of capital without collateral, provided the loan is repaid within the same transaction.
Dunn allegedly manipulated the pump.fun bonding curves to access and withdraw substantial liquidity, profiting $2 million in the process.
In the aftermath of the exploit, Dunn took to social media to confess his involvement. His posts on X (formerly Twitter) revealed a mix of remorse and defiance, hinting at a desire to distribute the stolen funds to Solana (SOL) token holders.
Dunn also opened up about his mental health struggles and the recent loss of his mother, suggesting that emotional distress played a significant role in his actions.
The exploit has prompted pump.fun to work closely with law enforcement to investigate the breach. Initial theories by Igor Igamberdiev, head of research at cryptocurrency market maker Wintermute, pointed to an internal private key leak.
Dunn’s erratic tweets have since confirmed his role, though the specifics of his proposed fund distribution remain unclear.
As the investigation continues, the cryptocurrency community watches closely, awaiting further developments in this high-profile case.
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Crypto price prediction: Floki, BitBot, Arweave
Cryptocurrency prices did moderately well last week as investors embraced a risk-on sentiment in the financial market. Bitcoin jumped to above $67,000 for the first time in over a month while BitBot continued its token sale, raising millions of dollars. This article focuses on BitBot, Floki, and Arweave.
Arweave price forecast
Arweave is one of the biggest players in the web 3 industry with a market cap of over $3 billion. It is disrupting the online storage industry by providing permanent storage solutions for developers. Developers can also launch smart contracts that handle transactions within seconds using its Warp technology.
Arweave’s price has done well in the past few weeks as it defied the gravity that we have seen in the crypto industry. It jumped to a high of $50 last week, its highest level since January 2022. It has soared by over 1,150% from its lowest point in 2023. Most recently, it has jumped for four straight weeks.
Turning to the weekly chart, we see that the AR token price has been in a strong bull run in the past few weeks. It has remained comfortably above the 50-week and 25-week Exponential Moving Averages (EMA).
It is now hovering at $48, its previous highest point this year, meaning that it is forming a double-top pattern, a popular bearish sign. Arweave is also nearing the 50% Fibonacci Retracement level.
Therefore, while Arweave’s token price outlook is bullish, buyers must now move above the crucial resistance level at $49.70. If this happens, the next point to watch will be the 61.8% retracement point at $60.
Floki price prediction
Like Arweave, the price of Floki has defied gravity in the past few weeks. It jumped to a high of $0.0002290 last week, its highest swing since April 2nd. At its highest point this month, the token was up by 105% from its lowest point on April 13th.
Floki Inu has now pulled back and moved below the 38.2% Fibonacci Retracement level. It has also remained above the 50-day and 25-day moving averages and the lower side of the Andrews Pitchfork tool.
Therefore, the outlook for Floki is neutral for now. A break below the pitchfork tool will point to more downside, with the next point to watch being at $0.00018. The alternative is where it rebounds and retests last week’s high of $0.00022.
BitBot analysis
The other notable cryptocurrency is BitBot, which has already raised over $3.5 million from global investors. BitBot is a company that seeks to change the trading industry by leveraging the concepts of technical analysis and artificial intelligence (AI).
It will be a comprehensive trading bot that anyone can use to trade cryptocurrencies like Bitcoin, Ethereum, and Solana. The app will be distributed in Telegram, a leading social media platform with over 900 million users globally.
Unlike other trading bots, BitBot will have several important features. First, it will be a non-custodial bot, meaning that the developers will not have access to your funds. Second, holders of the $BITBOT token will have access to additional staking rewards. Third, these holders will take part in its governance. You can buy the BitBot token here.
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Update: Kraken says no plans to delist USDT in Europe
- Kraken is exploring all options to continue offering USDT for EU customers.
- Mark Greenberg, Kraken’s Global Head of Asset Growth and Management, confirmed this via a post on X.
Kraken is not looking to end support for Tether (USDT) in the European Union, a company official has confirmed.
A Bloomberg report on Friday stated that Kraken was “actively reviewing” plans to end support for the stablecoin in the EU. The exchange’s apparent position related to upcoming implementation of the Markets in Crypto Assets (MiCA) regulations, according to an official.
Kraken to continue offering USDT for EU customers
Mark Greenberg, Kraken’s Global Head of Asset Growth and Management, has now provided an update on the matter. He commented on the issue on Saturday.
In a post on X, Greenberg said the exchange has no plans to delist Tether. He also emphasised USDT’s role and importance as the world’s largest stablecoin to Kraken’s business and customers in Europe.
“Let’s be clear: [Kraken] continues to list USDT in Europe and we have no plans to delist at this time,” Greenberg posted.
Per the update, Kraken is exploring all options towards the continued support for USDT. The exchange is indeed looking to comply with the MiCA regulations, Greenberg added.
“We know our European clients value access to USDT, and we continue to look at all options to offer USDT under the upcoming regime. We will, of course, follow all legal requirements, even those we disagree with. But the rules are not finalised yet, and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers,” Greenberg noted.
As highlighted in our previous report, EU’s MiCA regulations are set to come into effect starting this July with stablecoin rules and on December 30, 2024 for crypto exchanges.
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Microsoft droht wegen Bing KI Milliarden-Strafe von der EU
Microsoft droht eine Strafe in Höhe von 1 % des Jahresumsatzes, sofern das Unternehmen nicht auf eine Anfrage der EU reagiert.