Crypto exchange BingX hacked for $43 million

  • BingX was hacked early Friday, Sept. 20, with $43 million in cryptocurrencies stolen from the exchange’s hot wallet.
  • Hacker stole ETH, BNB, USDT and over 300 other coins and tokens.
  • On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB.

BingX has been hacked, with the security breach resulting in the draining $43 million from the Singapore-based cryptocurrency exchange’s hot wallet.

Blockchain security firm PeckShield reported on the exploit early Friday.

Etherscan data indicates that of the $43 million stolen, over $13.2 million ETH, more than $2.3 million BNB, and more than $4.4 million USDT. The hacker also drained BingX’s hot wallet of 360 other coins – with these swapped into ETH and BNB at decentralized exchanges including Uniswap and KyberSwap.

BingX suspends withdrawals

Vivien Lin, the chief executive officer of BingX, confirmed the incident via an update posted on X.

Lin noted that the exchange’s technical team detected the breach around 4:00 am on Sept. 20, identifying an “abnormal network access.” The BingX security team immediately initiated the platform’s emergency plans, including urgently transferring assets from the hot wallet and halting withdrawals.

“To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored within 24 hours at the latest,” Lin added.

The BingX CEO also assured users that the exchange is safe.

According to BingX, the losses are “only minor” and that most of the users’ funds are in cold storage.

One of the biggest exploits on a crypto exchange in 2024 happened in July when hackers stole over $230 million from India-based cryptocurrency exchange WazirX. The attacker has managed to launder most of the funds, the latest being $6.5 million sent to Tornado Cash.

The post Crypto exchange BingX hacked for $43 million appeared first on CoinJournal.

Tether invests $1.5 million in Sorted Wallet

  • Tether announced its $1.5 million strategic investment in Sorted Wallet on Sept. 19.
  • Sorted Wallet will tap into this investment to expand its services across Africa and Southeast Asia.
  • Tether is the company behind leading stablecoin USDT.

Tether has invested $1.5 million in Sorted Wallet, a crypto wallet platform targeted for crypto adoption across the emerging markets.

In an announcement on Thursday, Sept. 19, Tether said the strategic investment in Sorted Wallet aims at enhancing financial inclusion in Africa and the Southern Asia region.

“This investment underscores Tether’s commitment to advancing financial inclusion and economic empowerment in underserved regions,” Paolo Ardoino, chief executive officer of Tether, said.

Financial inclusion

According to the Tether CEO, investing in Sorted Wallet will help bring more people with basic mobile phones into the crypto space.

Such support unlocks new opportunities that allow more users to integrate the digital assets ecosystem across the financial space. Most of these are the unbanked in emerging markets – whose stand to benefit from financial inclusion.

“Our goal is to ensure that everyone, regardless of location or phone type, can securely manage and utilize cryptocurrency, empowering them to build a more secure financial future and actively engage in the evolving digital economy,” the Tether exec added.

Sorted Wallet eyeing expansion

Sorted Wallet is a non-custodial wallet that allows users to engage in the digital asset finance market using their feature phones or low-powered smartphones.

The $1.5 million investment from Tether will bolster Sorted Wallet’s expansion efforts both in Africa and Southeast Asia.

As the issuer of the world’s largest stablecoin USDT, Tether plays a key role in the crypto space. The company has expanded its stablecoin usage across the globe with initiatives.

In recent months, Tether has partnered several platforms and institutions to support blockchain and crypto through educational programs.

The post Tether invests $1.5 million in Sorted Wallet appeared first on CoinJournal.

Pixelverse debuts TON Microtransactions outside Telegram with beta browser game launch

  • Pixelverse launches a closed beta MMORPG browser game with TON microtransactions.
  • The game marks the first TON integration outside Telegram, expanding web3 gaming.
  • Pixelverse aims to grow its user base and enhance gaming with immersive web3 elements.

Pixelverse, the innovative gaming ecosystem known for its cyberpunk theme and blockchain integration, has achieved a major milestone by launching the closed beta of its highly anticipated MMORPG web browser game.

The launch of the beta browser game makes Pixelverse the first platform to implement TON (The Open Network) microtransactions outside of Telegram.

Pixelverse building on PixelTap’s success

Originally built on Telegram with its flagship mini-game PixelTap, Pixelverse quickly attracted a large following due to its seamless integration with the TON blockchain.

With over 10 million monthly active users, PixelTap became one of the most popular mini-games on Telegram.

In August 2024, Pixelverse launched its largest profile picture (PFP) NFT collection on TON, attracting 234,000 investors, followed by the successful release of its Bots NFT collection, which saw over 40,000 investors participate.

Pixelverse NFTs offer unique benefits across its gaming ecosystem, providing access to exclusive content, character customization, and profit-sharing opportunities. These digital assets are more than just collectibles; they provide players with real-world value, enhancing the overall gaming experience.

MMORPG web browser game launch scheduled for Q4, 2024

The closed beta release of Pixelverse’s web browser game represents a pivotal moment for both the game and the TON ecosystem.

Set 800 years in the future, players awaken in a dystopian city called Neopolis, where they embark on quests, collect rare items, and gain influence in the city’s dynamic economy.

The game’s open-world format allows players to shape the environment and economy, embodying the true spirit of web3.

Pixelverse CEO Kirill highlighted the company’s ambitions to move beyond mobile ecosystems and deliver a richer, more immersive web3 gaming experience. By leveraging its massive Telegram user base amid the growing Telegram gaming landscape, Pixelverse aims to organically grow its presence in the broader web3 space.

With its public release scheduled for Q4 2024, Pixelverse is poised to push the boundaries of web3 gaming, setting a new standard for blockchain integration and player engagement.

The post Pixelverse debuts TON Microtransactions outside Telegram with beta browser game launch appeared first on CoinJournal.

Five Reasons why Telegram gaming could be 2025’s breakout success

  • Telegram’s mobile-first approach boosts tap-to-earn game popularity in emerging markets.
  • Ease of access through channels and built-in wallets attracts new and casual gamers.
  • Major investors and existing game success position Telegram gaming for rapid growth.

Telegram gaming has quietly been building momentum, and with the rapid integration of blockchain technology, it’s poised to become one of the biggest success stories of 2025. While most people think of Telegram as a messaging app, it also offers users the ability to play games directly on the platform, without ever leaving the app.

Powered by The Open Network (TON) blockchain, these games range from fun trivia and strategy titles to lucrative tap-to-earn crypto games, which have especially gained traction in the developing world.

With strong backers and a growing user base, Telegram gaming could be the breakout success story of the next year.

The strength of the developing world

One of the main reasons for the explosive growth of tap-to-earn games on Telegram is their popularity in mobile-first economies, particularly in the developing world.

Many countries, especially in Africa, Southeast Asia, and Latin America, rely on mobile phones as their primary gateway to the internet.

As a result, Telegram’s lightweight platform and simple mobile interface have made it easy for users to dive into the world of crypto gaming. Tap-to-earn games are accessible and intuitive, requiring nothing more than a smartphone and an internet connection.

Additionally, in countries where local currencies are unstable or prone to inflation, the ability to earn rewards in USD-pegged tokens or cryptocurrencies like Bitcoin (BTC) or Toncoin (TON) offers a more stable source of income. Given the strength of these rewards compared to local wages, the appeal of earning through games is magnified.

Many gamers see these tap-to-earn opportunities as more than just entertainment; it’s a new way to make money. This has led to explosive growth in games like Hamster Kombat and Catizen, where players can accumulate in-game tokens that are easily convertible into real-world value.

The simple beauty of the Telegram platform

Telegram itself has proven to be the perfect platform for this gaming revolution. One key reason is the platform’s simplicity; users don’t need to download any external apps or visit complicated websites.

All of the games are accessible directly through Telegram channels or chatbots, making it incredibly easy for users to jump right in. This ease of access is critical for viral adoption, as players can quickly share game links with their friends or within groups, helping projects gain traction in a short period.

Moreover, Telegram’s built-in crypto wallet integration simplifies the gaming experience, particularly for users who are new to cryptocurrency. Many people are hesitant to try out blockchain-based platforms due to the perceived difficulty of setting up wallets and making transactions.

Telegram’s integration streamlines this process, allowing even crypto newbies to earn and spend tokens without needing prior blockchain knowledge. This seamless experience primes Telegram-based games to attract a larger and more diverse audience.

Telegram games appeal to a new market

Unlike traditional blockchain games, which often target users with an existing interest in crypto, Telegram gaming appeals to a wider, untapped market; people who have never dabbled in cryptocurrency before.

The simplicity of the games, combined with easy access to crypto rewards, opens the door for a new wave of casual gamers to explore blockchain technology without any prior experience. This is a crucial factor in Telegram gaming’s potential to explode in popularity by 2025, as it introduces crypto in an unintimidating and fun way.

Big names are backing Telegram gaming

The growing popularity of Telegram-based games hasn’t gone unnoticed by major investors.

Prominent venture capital firms, such as Pantera Capital, have shown interest in the burgeoning TON ecosystem, fueling the growth of these gaming projects.

Such backing ensures that these projects have the resources and support needed to scale rapidly, positioning them for long-term success.

Telegram games are already a breakout success

Last but not least is the fact that Telegram games have already enjoyed significant breakout success, with various projects outperforming expectations in 2024.

Leading the pack are games like Notcoin, Catizen, and Hamster Kombat, which have seen immense growth in player participation and earnings.

Additionally, Telegram-based casinos like TG.Casino, Lucky Block, and Mega Dice Casino have become hugely popular, offering everything from slot games to live dealer experiences. T

G.Casino, for example, boasts a massive 200% welcome bonus of up to 10 ETH, while platforms like Lucky Block offer up to $25,000 in matched deposit bonuses. These casinos have tapped into a multi-billion-dollar market by offering players seamless access to thousands of games directly through Telegram, coupled with instant deposits and withdrawals.

Chess lovers can also enjoy Chess Exercises, while casual gamers can dive into Quizarium or the classic xoBot for fun with friends. These games, which offer both single and multiplayer modes, prove that Telegram has something for everyone.

Whether you’re in it for crypto earnings or just looking for simple entertainment, Telegram has an expanding catalogue of games that has already captured the attention of millions worldwide.

With its continued innovation, support from major players, and massive user base, Telegram gaming is poised to be a dominant force in 2025.

The post Five Reasons why Telegram gaming could be 2025’s breakout success appeared first on CoinJournal.

Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

  • Bitcoin has broken past $62K post-Fed rate cut; next resistance at $63K.
  • Ethereum and Solana have also surged, reflecting a broader crypto market rally.
  • Caution remains due to economic uncertainties and potential regulatory issues.

Bitcoin (BTC) price has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

The move by the Fed, aimed at bolstering economic growth and mitigating recession risks, has ignited a rally across digital assets. The monetary policy adjustment has not only energized Bitcoin but also lifted a broad range of altcoins and risk assets.

Next Bitcoin (BTC) price resistance level at $63k

Currently trading around $62,096, Bitcoin’s price has demonstrated a solid 24-hour gain of 2.29% and a more impressive 7-day increase of 6.20%.

Most notably, the price breach above the $62,000 mark represents a crucial psychological milestone for Bitcoin, following a period of consolidation near $60,000.

Technical analysis highlights that Bitcoin’s next significant resistance level is positioned at $63,000, with the potential for further gains if this barrier is surpassed. The upper boundary of Bitcoin’s Bollinger Bands indicates heightened volatility, suggesting that while a short-term profit-taking phase may occur, the overall trend remains strongly bullish.

Support is firmly established at around $60,100, acting as a critical floor that has been repeatedly tested and held firm.

Investor sentiment towards Bitcoin is largely positive, with increased trading volumes reflecting growing institutional interest.

As Bitcoin’s (BTC) price continues to climb, it benefits from a broader narrative of cryptocurrencies serving as a hedge against traditional market volatility and inflation fears, which have been exacerbated by the Fed’s dovish stance.

Ethereum and Solana lead as altcoins mirror Bitcoin’s surge

The rate cut by the US Federal Reserve has not only impacted Bitcoin price but has also spurred a broader rally in the cryptocurrency market, lifting major altcoins alongside Bitcoin (BTC).

Ethereum (ETH), for instance, has surged past $2,400, marking a 24-hour increase of 4.94% and a 7-day rise of 2.97%. Ethereum’s price reached $2,430 before settling slightly, mirroring Bitcoin’s bullish trend. Technical indicators show Ethereum facing immediate resistance at $2,430, with potential for further gains if it breaks above this level.

Solana (SOL) has also seen significant price movements, surging by 6.03% to reach $138.65. This gain underscores renewed confidence in Solana’s ecosystem and its applications in decentralized finance (DeFi) and NFTs.

Other altcoins, such as Ripple (XRP) and Shiba Inu (SHIB), have also experienced notable increases, with XRP rising by 1.20% to $0.59 and SHIB climbing 7.85% to $0.00001427.

Analysts remain cautious

Despite the overall positive sentiment, market participants remain cautious. Mixed reactions and concerns about the sustainability of the rally are prevalent. Analysts suggest that while the rate cut has provided a significant short-term boost, the broader economic uncertainties and potential regulatory challenges could impact future performance.

In particular, Presto Research notes that the market remains divided, highlighting the need for relief from growth concerns to maintain upward momentum.

Amid the mixed market outlook, the coming months will be critical in determining whether the current Bitcoin (BTC) price rally can sustain momentum and push digital assets to new highs.

The post Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut appeared first on CoinJournal.