Bitfinex Scoffs at Tether Market Manipulation Lawsuit: Bittrex and Poloniex File for Summary Judgment

Bitfinex says the second attempt by plaintiffs to frame the bitcoin manipulation complaint will fail just like the first attempt.

Bittrex and Poloniex Move for Summary Judgment in Market Manipulation Case

Bittrex and Poloniex were added to the case as defendants in June 2020.

Ethereum Classic Attacker Nets USD 1.7m, Bitfinex Loses USD 1m + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Security news The Ethereum Classic (ETC) attacker made at least USD 1.7m during the second attack on the network yesterday, according to Bitquery, a blockchain analysis firm.

ParaFi Invests and Begins Staking in Bitfinex Spin-Out Exchange

ParaFi and D1 have invested a total of $450,000 into Bitfinex spin-out DeversiFi and will now play a governance role in the project's DAO.

Why is the ETC Price Steady Despite Risk of Further 51% Attacks?

Despite suffering its second 51% in a week, and major exchanges disabling deposit, withdrawal, and some trading services, Ethereum Classic is up 2% over yesterday. After suffering two major blockchain reorganizations over the past week, Ethereum Classic  (ETC) has seen its hash rate plummet — exacerbating the risk of further 51% attacks targeting the network. As a consequence of the ETC’s miner capitulation, the estimated cost of executing a 51% attack targeting Ethereum Classic using hash power rented from NiceHash has fallen from $12,000 per hour as of yesterday to less than $4,000, according to Crypto51. Despite this, the price has been unaffected by the apparent fragility of the network, with the crypto asset actually gaining more than 2% over the dollar since news of the second reorganization attack broke yesterday to currently trade for $7.21. Exchanges report $800M in 24-hour ETC volume  24-hour trade volume is up roughly 10% from the level posted only a few days before the first 51% attack, with orders continuing to execute across most top exchanges, including Coinbase Pro, Binance, Okex, Bitfinex, and KuCoin. The increase in trade activity comes despite the suspension of withdrawal, deposit, and margin funding services among a number of leading crypto exchanges.  ETC posts wishy-washy market signals The strength of ETC’s markets despite exchange’s having disabled wallet activity raises questions about whether algorithmic bots may be driving much of the current trade activity. In 2019 a report published by Blockchain Transparency Institute estimated that Ethereum Classic was among the three-most wash-traded crypto assets — with more than 80% of volume having been flagged as suspicious. Ethereum Classic miners capitulate After hovering between roughly five and six terahashes per second (TH/s) through July, ETC’s hash power dropped to approximately four TH/s over the past seven days after news of the initial 51% attack broke

Bitfinex lists Cardano [ADA]; says 'more demand than ever before'

The last few months have been pretty fruitful for Cardano.

Bitfinex Launches $400 Million Bounty Hunt for 2016 Hackers Who Stole $1.3 Billion in BTC

Bitfinex has launched a 400 million dollar bounty hunt in search of the hackers responsible for the theft of nearly 120,000 Bitcoins from the global exchange in 2016.

Bitfinex Offers $400 Million in Rewards to Get Back 120,000 Stolen Bitcoins

Cryptocurrency exchange Bitfinex is offering rewards of up to $400 million to the hackers who stole almost 120,000 bitcoins from its platform in 2016 as well as anyone putting it in touch with the hackers.

Bitfinex Announces $400 Million Reward For Hacked Bitcoin Recovery

Bitfinex has announced a $400 million reward for people who help them recover the bitcoins lost during the infamous hack back in August 2016. The post Bitfinex Announces $400 Million Reward For Hacked Bitcoin Recovery appeared first on CryptoPotato.

Bitfinex Offers Up to $400M For Information Leading to BTC Stolen in 2016

Bitfinex wants to recover Bitcoin stolen from them in 2016, even if that means paying to find the hackers responsible for the attack. Crypto exchange Bitfinex is offering up to $400 million to anyone who can lead them to the hackers who stole over 120,000 Bitcoin (BTC) in August 2016. According to the company’s post on August 4, they are even willing to reward the hackers themselves.

Bitfinex Steps up Hunt For Its Hackers, Promises USD 400m In Rewards

Major crypto exchange Bitfinex has offered a multi-million dollar reward to anyone who can lead it to the hackers responsible for the the theft of nearly bitcoin (BTC) 120,000 in August 2016 - even to the hackers themselves. Today's value of the bitcoin stolen from Bitfinex four years ago is around USD 1.34bn.

Bitfinex offers $400 million reward for 120,000 Bitcoin hack

As the funds from crypto exchange Bitfinex's 2016 hack continue to move across the blockchain, the exchange now wants to get in contact with the hackers.

Bitfinex Exec: Ethereum Volume Consistently Exceeds That of Bitcoin

Things are going from good to better for Ethereum, the second-ranked cryptocurrency by market cap.

Tezos (XTZ) Long Positions Set All-Time High as 96% of Bitfinex Traders Flip Long

Tezos has seen some strong price action in recent weeks, with its price facing some choppy trading throughout the past couple of days.

Four-Year Anniversary of Bitfinex Hack, and $12M of Stolen BTC Moved

Hackers transferred roughly $12M from wallets connected to the Bitfinex breach, in which 120,000 Bitcoin was stolen in August 2016. Someone with access to the 119,756 Bitcoin stolen from crypto exchange Bitfinex in 2016 moved $12 million to unknown wallets in the last six days. According to a series of tweets posted by Whale Alert on August 3, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 620 Bitcoin (BTC) — worth roughly $7 million at the time of writing — over 4 transactions.

$39M of Bitcoin Stolen in 2016 Bitfinex Hack Is on the Move

Hackers have transferred roughly $38.7M out of $1.3B worth of Bitcoin from wallets connected to the infamous 2016 hack of crypto exchange Bitfinex. Some of the 119,756 Bitcoin that was stolen from crypto exchange Bitfinex in 2016 has started moving again.  According to a series of tweets posted by Whale Alert on July 27-28, wallet addresses known to be associated with one of the largest breaches ever of a crypto exchange moved 3503 Bitcoin (BTC) — worth roughly $38.7 million — over 12 transactions.  The largest individual movement was of 476.32 BTC, or approximately $5.2 million, while the smallest was 2.612703 BTC, or $28,849. Slowly moving billions in crypto To date, the hackers responsible for the Bitfinex breach have moved only 1-2% of the funds they stole from the exchange in August 2016.

Bitcoin hacked from Bitfinex, worth $28 million, starts moving

Over 2,550 Bitcoin stolen from Bitfinex in 2016 was transferred to several unidentified addresses yesterday.

Hackers Transfer $28 Million Worth of Bitcoin from 2016 Bitfinex Breach

Around 2,500 stolen bitcoins ($28 million) from the 2016 Bitfinex breach were transferred from the hacker’s wallet on Monday.

Whale Alert: $27M From 2016 Bitfinex Hack Is on the Move

The monumental 2016 hack resulted in one of the single-largest losses in bitcoin of all time.

$5 Million Worth of Bitcoin From Bitfinex’s 2016 Hack Just Moved

While the winnings of a bank heist can be hard to track, it’s a different story for Bitcoin and crypto hacks.

Tether Jumps to $10 Billion Market Capitalization

Tether has reached $10 billion in market capitalization as growth in 2020 picked up. Tether (USDT) has reached a market capitalization of more than $10 billion as of July 22. The milestone was announced by Tether and also seen through the market price aggregator CoinGecko. Tether’s issuance has seen a significant growth in 2020, doubling from $5 billion in just five months since March 2020. Cointelegraph previously reported that a relevant portion of this growth comes from existing fiat on exchanges being transformed into USDT.  Tether and Bitfinex CTO, Paolo Ardoino, recapped some of Tether’s achievements during its growth. Tether transfers currently account for a majority of transactions and value on many of the chains where it is available.

Sizeable Portion of Tether’s $4.5B Growth Comes From Exchange Fiat

Tether rose quickly to $9.1 billion in 2020 as supply doubled since March, but some of that is old money being repurposed into USDT. Tether (USDT) recently rose through the ranks as it replaced XRP as the third highest ranked asset by market capitalization. It now sits at a total of more than $9 billion in circulating USDT, dwarfing its stablecoin competitors in traded volume and overall supply. Cointelegraph interviewed Paolo Ardoino, the CTO of Tether and Bitfinex, to get an inside look into the sudden rise. Half of Tether’s total growth came after the infamous March 12 market crunch, jumping from $4.6 billion to $9.1 billion in the span of a few months.

Tether CTO: ‘USDT Will Continue to Exist Alongside CBDCs’

With a market cap over $10B, Tether isn’t likely to be displaced by any central bank digital currency according to Paolo Ardoino. Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether. “In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron.

Notorious Bitcoin (BTC) Whale Puts Crypto Traders on Notice, Says Dumb Money Flocking to New Movement

A prominent Bitcoin whale who’s known for posting provocative tweets and placing large bets on Bitfinex says retail investors are buying into the hype of a new movement in the crypto space.

All Altcoin Innovations Will “Ultimately Benefit Bitcoin”: Bitfinex Whale

As altcoins have strongly outperformed Bitcoin over recent weeks, a debate has erupted about the long-term usefulness and efficacy of many cryptocurrency projects.

Is High-Frequency Trading the Reason Bitcoin Has Become Boring?

The increasing use of HFT may help explain Bitcoin’s record low volatility. The Bitcoin (BTC) market has been quiet lately.

Mega Bitfinex Bitcoin Whale: Chainlink FOMO Will Eventually Fizzle

Chainlink continues to set new high after high, after breaking upward out of its bullish trend channel and going parabolic.

A Coordinated Twitter Hack is Targeting Coinbase, Kucoin, Binance, Gemini, and more

Recent events indicate Twitter accounts for Binance, Gemini, Coinbase, Bitfinex, Justin Sun, Charlie Lee and many others have been compromised.

Shyft Debuts ‘Decentralized Version of SWIFT’ for FATF Travel Rule

Shyft Network says 30+ exchanges are testing its blockchain-based solution to help cryptocurrency companies comply with the FATF Travel Rule.

Focus on USDT and DeFi as 5-Year Anniversary of Ethereum Approaches

Five years following the launch of ETH in 2015, and the future of the blockchain may lay in DeFi and USDT, according to industry experts. Industry experts say Tether and Decentralized Finance tokens will play large roles in the future of Ethereum as the blockchain approaches its five-year anniversary on July 30. In a statement shared with Cointelegraph, Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, said the Ethereum blockchain will “play a central role in the digital asset ecosystem in the years ahead” as “Ethereum-based Tether can continue to support and empower growing ventures and innovation in the blockchain space.” “We hope that the recent surge of DeFi can translate to more DeFi financing products and projects that will truly shape industry developments in a decentralized manner,“ Ardoino said.

Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds

The popular digital currency trading platform, Bitfinex must deal with the New York Office of the Attorney General (NYAG) over the alleged hiding of over $800 million in client and corporate funds.

Could Brock Pierce's Presidential Campaign Damage the Crypto Industry? Tether's Legal Troubles Resume

Brock Pierce’s run for President of the United States may have come at the wrong time, as the New York Supreme Court today ruled that Bitfinex and Tether must face up to allegations that they concealed the loss of commingled corporate and client funds amounting to over $850 million.

Bitfinex to Face New York Courts Over Missing $850 Million in Cryptocurrency Funds

Cryptocurrency exchange Bitfinex has been ordered to face claims over missing crypto funds totaling at least $850 million. The post Bitfinex to Face New York Courts Over Missing $850 Million in Cryptocurrency Funds appeared first on CryptoPotato.

Bitfinex Lists Dogecoin After TikTok Fad Sends DOGE Price Over $0.005

Dogecoin sees fresh gains before correcting to $0.004 as Bitfinex appears to capitalize on TikTok excitement. Major cryptocurrency exchange Bitfinex is listing Dogecoin (DOGE) as excitement around the meme-based altcoin keeps mounting. In a Twitter announcement on July 10, Bitfinex said that deposits were already available and that it would begin supporting Dogecoin at 8.30 am UTC the same day. Dogecoin: Bitfinex “releases the gud boi” The move caps a bizarre week for Dogecoin, which saw its value shoot up after a spontaneous publicity campaign involving users of social media platform TikTok. Perhaps directly due to the attention that the campaign generated, Bitfinex stepped into the trading arena — Google data suggests that many new consumers are attempting to purchase DOGE as a result. The move may have been responsible for more noticeable price gains.

New York Court Rejects Bitfinex Appeal Over $850M in Lost Funds

New York’s Supreme Court has rejected Bitfinex and Tether’s appeal in the ongoing dispute between the firms and the NY Attorney General over $850 million in lost funds. A New York Supreme Court has found that veteran cryptocurrency exchange Bitfinex and its related stablecoin company Tether (USDT) must face claims they concealed the loss of commingled corporate and client funds. The claims were brought by New York Attorney General Letitia James, who has accused firms associated with Bitfinex and several associated companies of hiding more than $850 million in lost funds. Bitfinex asserts that its funds were deposited with Crypto Capital — a Panamanian firm accused of providing shadow banking services to virtual currency exchanges — before being seized by government authorities in various countries.

Court denies Bitfinex’s request to scrap $850M fraud investigation

Bitfinex must head to court over New York Attorney General allegations.

Bitfinex Must Face New York Allegations Over $850M in Lost Funds, Appeals Court Rules

Cryptocurrency exchange Bitfinex will have to answer claims about hiding millions in lost funds, a New York appeals court ruled on Thursday.

Bitcoin Price Will Now Never Officially go to Zero — Here’s Why

A massive 18.52 million BTC buy order on Bitfinex will save Bitcoin from dropping to $0, thanks to Alistair Milne. Bitcoin (BTC) can crash hard, but not so hard that it ends up costing $0 — because one man is going to buy all of it. In tweets on July 9, entrepreneur and outspoken Bitcoin bull Alistair Milne revealed that he had placed an order for 18.52 million BTC ($174 billion) — more than the current supply — on exchange Bitfinex. Milne: I’m buying all the Bitcoin at 1 cent In what appears to be more a tongue-in-cheek gesture than concern that Bitcoin is in for a major fall, Milne uploaded a screenshot of the Bitfinex orderbook. “I hereby confirm that #Bitcoin will never go to zero (at least on @bitfinex),” he wrote.  “I'm buying them all at $0.01.” In order to complete the purchase, Milne will need the princely sum of $185,200 — currently equal to 19.7 BTC if he chooses to set aside a portion of his holdings for such an eventuality. Bitfinex orderbook showing Alistair Milne’s buy order for 18.52 million BTC.

With The Latest TikTok Pump, Binance and OKEx Invite Their Traders To Short Dogecoin (Doge)

Dogecoin has received the spotlight in the last few days.

Bitfinex, Binance Rush to Capitalize on Dogecoin Fever

With dogecoin (DOGE) now up by another 18% in the past 24 hours, exchanges are rushing to capitalize on the fever, launching both spot and futures markets in an effort to extract more money from hopeful investors. The latest exchanges to announce that they will join the race now is Bitfinex and Binance, which said that they will set up new spot and futures trading pairs,

Prominent Bitcoin Whale Predicts Mass Altcoin Extinction Ahead of Next BTC Rally

A prominent Bitcoin whale who made a name for himself by ranking at the top of the Bitfinex trading leaderboard says he believes a massive altcoin purge will happen before the next BTC leg up.

Bitfinex Investor Reportedly Detained by the Chinese Authorities

Zhao Dong was taken in custody by the police with no official statement as to his detention. Reports circulating in Chinese media allege that Zhao Dong, head of the over-the-counter (OTC) crypto lending platform RenrenBit, has been detained by local police. The validity of these reports is not known at this time.

Infamous Crypto Whale Says One Altcoin Will Outshine Bitcoin (BTC) in Next Global Economic Crisis

A crypto whale known for challenging conventional crypto wisdom and placing large Bitcoin bets on Bitfinex says there is a looming derivatives crisis that BTC won’t provide an antidote for.

Confusion Reigns in China as RenrenBit CEO Reportedly Detained by Police

Chinese media outlets are reporting that Zhao Dong, the head of over-the-counter (OTC) and crypto lending platform RenrenBit and a prominent Bitfinex investor has been taken in for questioning by police. Per reports from media outlet BlockBeats and Chainnews, “rumors” are circulating in online communities about Zhao Dong, with many people claiming he has been taken

Notorious Bitcoin (BTC) Whale Says New Crypto Fairy Tale Fooling Traders

A Bitcoin whale known for placing high-stakes bets on Bitfinex is back after a brief sabbatical.

There’s a Bitfinex “Whale” Looking to Buy Bitcoin in the High-$8,000s

It’s been a tough past few days for Bitcoin.

Bitfinex Launches Open-Source Crypto-Powered Streaming Protocol

Bitfinex has uploaded the code for a crypto-powered open-source P2P data streaming protocol to GitHub. Veteran cryptocurrency exchange Bitfinex has announced an open-source peer-to-peer data streaming platform that will allow users to share media across a decentralized network. The code for Bitfinex's "Dazaar" protocol has been uploaded to GitHub, describing a decentralized network in which distributed node operators store the information shared among users. In an announcement, Bitfinex states that the platform’s creation was motivated by the increasing reliance on centralized platforms such as search engines, social media, and messaging apps to facilitate the sharing of data and media. Bitfinex open-sources P2P streaming protocol Bitfinex describes the Dazaar platform as a crypto-powered protocol for monetized data streaming. The platform was developed as an extension to the Massachusetts Institute of Technology-licensed Hypercore Protocol — a “distributed append-only log” characterized as comprising a “lightweight blockchain crossed with BitTorrent.” Buyers and sellers connect over the platform via a cryptographic identifier or "Dazaar Card," with sellers able to purchase streams using crypto assets or credit cards. The protocol also features a live-streaming desktop application that allows sellers to manage subscriptions and broadcasts. Crypto-powered streaming platforms compete Dazaar’s announcement comes amid increasing competition between crypto streaming platforms.  In May, Cointelegraph reported that the crypto-powered Esports streaming app Theta.tv would be integrated onto 75 million Samsung devices worldwide.

Bitfinex creators start decentralized live-stream marketplace

Sick of the fees for your boudoir videos on OnlyFans? Try Dazaar.

Bitfinex Announces New Peer-to-Peer Data Streaming Platform Dazaar

Popular cryptocurrency exchange Bitfinex has announced that it is launching an open-source, peer-to-peer (P2P) marketplace for data streaming.

Low Exchange Reserves Suggest Futures Traders Are Over-Leveraged

The number of Bitcoins held on exchanges continues to decline despite growing open interest in the futures markets. Cryptocurrency market data aggregator Glassnode has reported that the number of Bitcoins (BTC) held on centralized exchanges has fallen to a 12-month low. The decline in exchange reserves comes amid numerous recent records for open interest in Bitcoin futures contracts, suggesting that many traders may be over-leveraged. Less than 15% of Bitcoin is held on exchanges On June 24, Glassnode reported a new yearly low in the number of BTC held on exchanges, with more than 2.624 million BTC.

$10M Investment From Tether Won’t Change Celsius’ Mission of Sharing

Alex Mashinksy says that new equity investors, including Tether, will have no say in Celsius’ mission of sharing 80% of profit with its users. Tether (USDT) makes a $10 million equity investment in the crypto lending platform Celsius Network (CEL) at a $120 million pre-money valuation, bringing the post-money valuation to $150 million.  The company has raised $30 million in its first equity round.

HODLers Prevail: Nearly 60% Of Mined Bitcoin Is Held By Long-Term Investors, Report Says

According to a recent report, the majority of all mined bitcoins are held by long-term investors, while only 19% is utilized for trading.

Bitfinex Granted 2 of 3 Subpoenas in Hunt for Missing Millions

The US District Court of Georgia has denied a subpoena request by the exchange's parent firm as it tries to track down a missing $850 million.

Crikey! Kraken Launches Support for Aussie Dollar Trading Pairs

Kraken has launched support for trading and funding in AUD six months after acquiring veteran Australian crypto exchange Bit Trade. Major cryptocurrency exchange Kraken has announced support for Aussie dollar (AUD) trading pairs and account funding. Australian dollars will be tradeable against Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Tether (USDT) on the platform. AUD is the seventh fiat currency to be supported by Kraken, joining USD, CAD, EUR, JPY, GBP, and CHF. Kraken clients based outside of the United States will also be able to trade AUD-based foreign exchange pairs against USD, EUR, and JPY. Kraken launches AUD funding support Kraken will launch AUD support on June 17, with Australian users able to deposit fiat onto the exchange through banks that support Osko/PayID payments. The move follows the firm’s acquisition of Australia’s longest-running crypto exchange Bit Trade in January.