Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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South Korean crypto exchange GDAC hacked for $13 million

  • South Korean exchange GDAC reported the hack early Monday.
  • The exchange said the hackers stole nearly 61 BTC, 350.5 ETH, 10 million WEMIX tokens and 220,000 USDT.
  • On-chain data shows the hacker has swapped USDT for ETH and sent 461 ETH to a crypto mixer.

Crypto news out of South Korea is that hackers stole nearly $13 million from the crypto exchange GDAC. The exchange reported that the incident occurred on Sunday.

According to the exchange’s security update, the hackers transfered roughly 61 bitcoin, 350 ether, 10 million WEMIX tokens and 220,000 USDT from its hot wallet.

In total, the hack left GDAC with a $13 million or so hole in stolen crypto, with the lost funds accounting for 23% of the exchange’s total custodial holdings.

As a result of the hack, GDAC suspended its wallet system, pausing deposits and withdrawals. The exchange also announced it had reported the hack to the South Korea police, requesting for a cyber investigation.

Hacker sends 461 ETH to Tornado Cash

GDAC said the assets were taken from its hot wallet, with the hackers transferring the coins to an unknown crypto wallet. 

While GDAC says its working with Korean security experts and authorities in a bid to recover the funds, crypto market intelligence firm Arkham reports the hacker has swapped the USDT into ETH. 

The blockchain intelligence platform revealed on Monday that the attacker had already sent approximately 461 ETH to the crypto mixing platform Tornado Cash.

The post South Korean crypto exchange GDAC hacked for $13 million appeared first on CoinJournal.

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Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip

Chiliz price drifted sideways on Monday as the price of key fan token dropped sharply. The CHZ token was trading at $0.1297, where it has been in the past few days. This price is about 37% above the lowest level this year and ~26% above March’s low.

Fan token prices retreat

Chiliz is a leading platform in the blockchain industry. It is a unique platform in the entertainment and sports industry. Its primary platform is known as Socios, which helps people trade fan tokens of some of the biggest teams in the world.

Chiliz also provides a smart contract platform that makes it possible for teams to build fan tokens.Today, data compiled by Fan Market Cap shows that there are 82 fan tokens that have a combined market cap of more than $382 million.

In most periods, Chiliz tends to do well when fan tokens are rising. In the past few days, some fan tokens have done well, with OG’s token jumping by over 257%. Other top fan tokens like Manchester City and Alpine have risen by 16% and 51%, respectively in the past 7 days.

However, most of these tokens are some of the worst performers in the past 24 hours. OG price has dropped by 20% in the past 24 hours while Alpine, Arsenal, Inter Milan, and Atletico Madrid have dropped by double-digits in the same period. 

Another reason why the CHZ price is struggling is that the overall volume has dropped in the past few days. The token’s volume jumped to a high of 319.85 million on April 8, the highest level since February 22. This volume has dropped to ~83 million on Monday. 

Chiliz price prediction

So, is it worth it buy Chiliz? The daily chart shows that the CHZ price has been in a tight range in the past few days. This price is consolidating at the 50-day and 25-day moving averages. It has moved above the ascending trendline that connects the lowest level since June last year. The Relative Strength Index (RSI) has moved below the key level at 60.

Therefore, the token will likely remain in this range for a while and then retest the ascending trendline at $0.10. A move above the key resistance at $0.1432 will invalidate the bearish view.

How to buy Chiliz

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy CHZ with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy CHZ with Bitstamp today

The post Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip appeared first on CoinJournal.

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Wemade launches Web3 live chat app Tangled on NFT platform NILE

  • Wemade says Tangled features an AI-based verification system to enhance safety for the Web3 live chat users.
  • Users can accumulate time points and swap them for utility tokens like WEMIX.
  • Wemade is making giant steps in bridging traditional gaming to Web3 and blockchain.

Wemade, a leading South Korean based gaming and blockchain company, has today launched the new Talk to Earn (T2E) decentralised application dubbed Tangled on its DAO and NFT Platform NILE.

The popular video game developer, whose The Legend of Mir title is one of the biggest gaming hits, shared the news via a press release on Monday. 

According to Wemade, the Web3 live chat dApp uses AI-based AI-based verification to ban fake gender accounts or profiles. The artificial intelligence helps to ensure dApp users enjoy the highest standards of safety and chat experiences, the firm noted.

Live chat and earn points

Tangled users will have an opportunity to chat with others across the globe. The chat application has a built-in mechanism that allows users to earn time points as other users accept their chat offer.

Accumulated points are then saved in native Tangled NFT called Tangled Timepieces. The NFTs are in three grades – Luxury, High-End, and Zenith. A user can fuse same grade NFTs to achieve a higher grade NFT. Higher graded pieces mean more time points and longer live chat times.

Users can also exchange time points for TIPO, a utility token that one can then swap for other digital assets such as WEMIX.

Microsoft-backed Wemade has been aggressive in its blockchain and Web3 strategy since CoinJournal reported on the firm’s “blockchain facelift” for Legend of Mir in 2020. 

The company recently partnered decentralised warehousing provider Space and Time to help power its blockchain gaming platform WEMIX PLAY. The collaboration will see Wemade help the next wave of GameFi development, Wemade announced.

The UNI token also rallied last July when Wemade announced it would add liquidity to Uniswap. The Korean game developer’s interest via the WEMIX/USDC pool on Uniswap V3 saw huge volume spikes, aiding the uptick in UNI price.

The post Wemade launches Web3 live chat app Tangled on NFT platform NILE appeared first on CoinJournal.

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Bitcoin price prediction: Watch out for CPI event this week

  • Bitcoin price hovers above $28k with a ranged trading over the past month.
  • Analyst Michael van de Poppe says the US consumer price index report out this week could be a big market mover.
  • Bitcoin’s volume weighted average price (VWAP) is a metric to also watch.

Bitcoin price continued its ranged trading this past weekend, with bulls retesting the $28,500 area. As the week starts, the top cryptocurrency could see an injection of volatility.

Indeed, crypto analyst Rekt Capital says bitcoin remains “well positioned for mid- to long-term upside”, particularly as the cryptocurrency moves towards its next halving event. 

But what about the next few days? Below is what analysts say about Bitcoin price this week.

Bitcoin price prediction ahead of CPI data this week

According to crypto analyst Michael van de Poppe, BTC is still in consolidation – which has stretched from around mid-March. But with big economic news on the cards this week, the market could be in for a bit of movement.

In a comment on Bitcoin price he shared on Monday, van de Poppe said the upcoming Consumer Price Index (CPI) data expected on 12 April is a “big event this week.” 

If buyers manage to retest the $28,600 level, its likely BTC will break higher.

“Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation. Big event this week with CPI, probably the market mover. If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards,” the analyst noted.

Here is the analyst’s Bitcoin price chart.

Trading volume metric and BTC price outlook

Pseudonymous analyst bitcoindata21 also says the CPI news this week will likely be a major market catalyst. However, he also highlights Bitcoin’s Volume Weighted Average Price (VWAP), which he says currently sits on the benchmark cryptocurrency’s all-time highs.

VWAP takes into account the average price of a trading asset as weighted by its total trading volume. 

The metric helps analyse and forecast price movement based on the average value over a given period. In this case, bitcoindata21 highlights the 30-day VWAP on 15 April, with a potential upward crossing on 13 April.

The chart below bitcoindata21 shared on Twitter shows a comparison of the 2019 and 2023 price movements.

Bitcoin price VWAP historical data outlook comparing 2019 and 2023. Source: bitcoindata21 on Twitter.

The 1-month sideways trading along the VWAP is similarly positioned as was in 2019 before BTC went on to hit a new all-time in the last bull market.

The post Bitcoin price prediction: Watch out for CPI event this week appeared first on CoinJournal.

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Report showing Binance.US unable to find bank partners in the US

  • The recent failures of Silvergate and Signature Bank left Binance.US without banking services.
  • Binance.US is looking for a new bank partner to serve as a fiat on-ramp and off-ramp for its clients in the US.
  • A WSJ report has however indicated that the exchange is facing challenges in identifying the bank partner.

Binance.US, the United States arm of global crypto exchange Binance, is in the process of identifying a new bank partner that will serve as a fiat on-ramp and off-ramp. The crypto exchange was left with a bank partner after the collapse of the Silvergate and Signature Bank.

However, according to a report published by the WSJ on April 8, Binance.US has been facing challenges in establishing a new bank partner. According to the report, the exchange has been depending on middleman banks to store funds.

Currently, Binance.US is holding customer funds through the financial technology firm Prime Trust’s banking partners.

Regulatory crackdown on banks with crypto clients

Binance.US has had a number of attempts in establishing a direct banking relationship with the likes of Cross River Bank and Customers Bancorp, but they have all failed.

The regulatory crackdown in the US on banks with cryptocurrency clients is seen as a major factor contributing to the struggles the exchange is facing in identifying a new banking partner.

Binance has been the focus of the US Commodity Futures Trading Commission (CFTC) investigation since 2021. The CFTC sued Binance Holdings and its CEO, Changpeng “CZ” Zhao, last month for alleged trading violations. And although CZ issued a statement refuting CFTC’s allegations, the lawsuit has had a significant effect on the exchange including leading to a drop in the exchange’s crypto market share.

The absence of a direct bank has greatly affected Binance.US customers, especially after Binance said that some US dollar deposit services would be temporarily affected as it transitions to new banking and payment service providers over the next few weeks.

The post Report showing Binance.US unable to find bank partners in the US appeared first on CoinJournal.