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Solana Hack Blamed on Slope Mobile Wallet Exploit
Private keys may have been inadvertently compromised as a Solana mobile wallet is fingered for the major network attack.
The large-scale Solana wallet hack, which started on Tuesday night, is believed to be tied to the Slope mobile wallet app.
Solana’s developers believe that private key details for affected wallets were “inadvertently transferred” to a third party.
Thousands of Solana users collectively lost about $4.5 million worth of SOL and other tokens from Tuesday night into early Wednesday, and now there’s a likely explanation for why: it’s being blamed on a private key exploit tied to mobile software wallet Slope.
On Wednesday afternoon, the official Solana Status Twitter account shared preliminary findings through collaboration between developers and security auditors, and said that “it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications.”
“This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure,” the thread continues. “While the details of exactly how this occurred are still under investigation, but private key information was inadvertently transmitted to an application monitoring service.” Read More
Deloitte Survey Clearly Shows Crypto Payments Are The Next Big Thing In Commerce
A new Deloitte survey titled “Merchants getting ready for crypto” contains extremely bullish news. It clearly shows that businesses of all sizes are getting ready for all kinds of crypto payments. And the vast majority believe that they will become ubiquitous in the next few years. Merchants, they are just like us. Deloitte produced the survey in association with PayPal, which is telling and arises questions.
“Survey respondents are very optimistic about digital currencies in the consumer market, reporting broad agreement that accepting digital currency payments is already a point of differentiation, and are expected to see broad near-term adoption,” Deloitte concludes. Besides that, merchants see “benefits such as speed of payments and cost efficiencies”. Which shows they’re not in just for the flashy “differentiation,” and already see all of the benefits it could bring to them.
As for the methodology, let’s quote the document:
“The survey focuses on US consumer businesses, with annual revenues ranging from below $10 million to $500 million and above, asking their views on digital currency payments and the investments they’ve made in payment infrastructure, as well as their plans for the years ahead.”
So, these are medium to big-sized players we’re dealing with here. Deloitte doesn’t differentiate between bitcoin and crypto, and doesn’t specify exactly which cryptocurrencies the merchants are talking about. The survey company makes a point of separating stablecoins from the rest of the cryptocurrencies, though. Read More
Web3 Development Platform Alchemy Adds Polkadot's Parachain Astar Network
Alchemy, a pioneer in the blockchain developer platform, announced that it would partner with Astar Network to accelerate Web3 development on Polkadot.
The collaboration will allow developers to use Alchemy's powerful API to create complex applications that implement functionality not available on the Polkadot blockchain.
Alchemy also said that web3 developers could earn basic income through staking rewards, a native feature of Astar.
Rob Boyle, Head of Product at Alchemy, said: "Alchemy infrastructure makes it easier for developers to build any dApp with infinite scalability, accuracy and reliability. We're thrilled to combine forces with Astar to foster an era of better Web3 building that will power the decentralized applications of tomorrow."
Astar allows developers to interoperate with the Polkadot ecosystem, building dApps using EVM and WASM smart contracts via the Polkadot blockchain's Cross Consensus Messages (XCM). Read More
MyEtherWallet launches cross-chain Web Extension for Polkadot
MEW is the leading wallet platform for digital assets on Ethereum, and Enkrypt brings its functionality to the Polkadot ecosystem.
MyEtherWallet (MEW), a leading platform in the crypto sector for access to the Ethereum (ETH) ecosystem, has launched Enkrypt, a user-friendly cross-chain browser extension for Ethereum and Polkadot (DOT).
The web extension, which will support seamless multi-chain transactions for users on Ethereum and for the first time Polkadot, was developed in conjunction with Swiss platform Web3 Foundation, the MEW team said in a press release.
Ethereum’s impending transition to Proof-of-Stake consensus with the Beacon Chain merge and the potential explosion of Web 3 technologies aided the developers’ efforts to create the browser extension.
It is hoped the feature will enable further adoption across the Ethereum ecosystem and tap into the interoperability capabilities possible with the Polkadot protocol. Cross-chain access will also be available through parachain integrations, including with top platforms Acala and Moonbeam. The feature will also extend to all the canary networks across the various protocols.
“Interoperability between blockchains has been top-of-mind for MEW users and is a pivotal step towards broader crypto adoption,” Kosala Hemachandra, founder and CEO of MyEtherWallet said in the press release. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues with its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
Crypto Firm Blockchain.Com Registers As A Virtual Asset Provider In Italy
According to reports, London-based cryptocurrency firm Blockchain.com announced on Thursday that it has successfully registered as a virtual asset provider in Italy, joining a host of companies to do so recently.
In February, the European nation created a special registry with its brokerage regulator to list cryptocurrency operators with a stable presence in the country should they meet a list of special requirements. In a statement, Blockchain.com said it was now allowed to offer cryptocurrency and digital wallet services to Italian citizens and institutional investigators under the purview of the regulation, known as the Organizmo Agenti e Mediatori (OAM). The OAM is the regulatory body responsible for overseeing anti-money laundering efforts in the country and oversees financial agents and credit brokers. It says it can collect and share with anti-mafia and anti-terrorism investigators in Italy data provided by cryptocurrency companies on their operations and clients.
Regulators from across the world are hard at work figuring out how to bring to heel the crypto sectors, which at the moment are subject to patch rules, to say the least. Issues such as consumer protection, financial stability threats, and illicit usage of digital assets are at the top of the agenda. Cryptocurrency platforms are urgently seeking to strengthen their positions in Europe before groundbreaking rules agreed on last month by the European Union come into play. Under the rules, crypto firms will need a license and customer safeguards to issue and sell digital tokens in the zone. They are expected to come into effect in 2024. Blockchain.com said,
This registration strengthens our position to offer services across Europe. Read More
Binance and Mastercard will launch prepaid crypto cards in Argentina
"Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow,” said Maximiliano Hinz.
Major crypto exchange Binance has partnered with Mastercard to launch a prepaid card for the residents of Argentina.
In a Thursday announcement, Binance said the card will allow its clients in Argentina to use Bitcoin (BTC), BNB and other cryptocurrencies to make purchases as well as ATM withdrawals in fiat wherever Mastercard is accepted — roughly 90 million merchants globally and online. Argentine cardholders can also earn up to 8% back in cryptocurrency from certain purchases.
According to Binance, the introduction of the card — expected to be “widely available in the coming weeks” — was part of the company’s efforts to further the global adoption of crypto. Residents of Argentina will be the first in the region to have access to the cards, but the crypto exchange announced a similar initiative for Binance users in Ukraine in April and for the European Economic Area in 2020.
"Payments is one of the first and most obvious use cases for crypto, yet adoption has a lot of room to grow,” said Maximiliano Hinz, general director of Binance in Latin America. “By using the Binance Card, merchants continue to receive fiat and the users pay in cryptocurrency they choose.” Read More
Why Ethereum NFT Creators Are Giving Away Commercial Rights—To Everyone
As Moonbirds and XCOPY artwork both transition to CC0 licenses, here’s a look at why creators are embracing the public domain.
Popular NFT project Moonbirds will switch to a CC0 license, putting its artwork in the public domain.
As with other CC0 projects, it means that the artwork can be freely used, remixed, and commercialized.
Moonbirds is one of 2022’s most successful NFT projects, yielding more than half a billion dollars worth of trading volume in a matter of months. Buying one will cost you at least $29,000 worth of ETH as of this writing. But its creators have now decided that you won’t have to own a Moonbird to use its imagery.
Proof—the Web3 startup behind the Proof Collective NFT group and Moonbirds—announced that it will transition Moonbirds and the recent Oddities NFT collections to a CC0, or Creative Commons Zero, license.
Effectively, it means that no rights are reserved by the creators, and it puts the artwork into the public domain. As a result, anyone can use the Moonbirds or Oddities artwork and likenesses to create and sell derivative projects, merchandise, apparel—anything. Read More
Nimbus Platform Launched The First Ever Financial Derivative Product On The Blockchain In Its DeFi Platform
Manama, Bahrain: Nimbus Platform IO has launched the second iteration of its n-NFT as a structured financial derivative product. The launch of updated n-NFT is referred to as Smart Staker n-NFT in the constellation of Nimbus Platform Dapps and products.
The first Nimbus n-NFT was launched in late December 2021. The Nimbus Platform n-NFTs are the first ever structured financial derivative using digital assets in Decentralized Finance (DeFi) in the world.
The Smart-Staker n-NFT is a portfolio-enhancing tool that’s a yield-generating hedge against price fluctuations that also offers structural diversification as the yield generation is derived from four different Dapps activities.
Previous to launching Smart Staker n-NFT, Nimbus launched Smart LP n-NFT focused on lending, liquidity providing, and LP staking using dApps and other tools on the Platform. The second-generation n-NFT was introduced to improve user-friendliness and solve users’ needs.
Smart Staker n-NFT includes a yield-generating mechanism, which allows holders to receive rewards from the best Staking options. The threshold set for Smart Staker n-NFT is 1BNB or 200 BUSD. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
