Mallucryptologist

Stolen Bitcoin Fails to Gain Privacy After $238 Million Breach RAILGUN, a privacy protocol, confirmed that the 4,064 Bitcoin stolen in a high-profile security breach on August 19 failed to gain privacy benefits on its platform. The stolen funds were unable to generate a Private Proof of Identity (POI), leading to their unshielding and return to the original address. The breach, targeting a Bitcoin whale, resulted in the loss of $238 million worth of BTC. Cryptoslate

Crypto ETPs Trading Volume Plunges 50% Amidst Fed Rate Uncertainty Crypto investment products saw a modest inflow of $30 million last week, according to CoinShares, while trading volume dropped by almost 50% to $7.6 billion. This decline coincides with recent macroeconomic data suggesting a less aggressive Fed rate cut, causing market uncertainty. Bitcoin attracted $42 million in inflows, regaining dominance despite a month-to-date deficit of $320 million. Cryptoslate

DeMi Token Revolutionizes Bitcoin Mining: Simplified & Profitable DeMi Token aims to simplify Bitcoin mining by eliminating the need for expensive equipment and technical expertise. The platform allows users to mine Bitcoin with ease, offering a cost-effective solution amidst the growing challenges of traditional mining. DeMi addresses the increasing difficulty of the Bitcoin network and halving events, making it an attractive option for individual miners seeking profitability. Cryptoslate

Bitwise Surpasses $4.5 Billion AUM, Acquires ETC Group for European Expansion Bitwise Asset Management has acquired ETC Group, a London-based digital asset manager, for an undisclosed sum. This strategic move boosts Bitwise's AUM to over $4.5 billion and strengthens its presence in Europe. The acquisition includes popular European ETPs like BTCE, a physically backed Bitcoin ETP, ET32 Ethereum staking ETP, and ESOL Solana physical ETP. The deal enhances Bitwise's product offerings and provides global insights for its clients. Cryptoslate

Vitalik Buterin Sends $1.05M ETH to Privacy Mixer Railgun Ethereum co-founder Vitalik Buterin sent 400 ETH (~$1.05 million) to crypto mixer Railgun, sparking debate. This isn't the first such transfer, with Buterin sending a total of 662 ETH (~$1.91 million) in the past ten months. Some see this as a push for privacy, while others worry about potential illicit activities as mixers can obscure the origin of funds. The implications for Ethereum and privacy in crypto remain to be seen. Cryptoslate

** Tether Brings USDT to Aptos: Low Fees, DeFi Boost Expected Tether brings its USDT stablecoin to the Aptos blockchain, aiming to leverage Aptos' low transaction fees for both small and large transactions. This expansion expands USDT's presence beyond TRON and Ethereum, potentially boosting Aptos' DeFi ecosystem. Cryptoslate

Bitcoin's Price Rise: Trump's Odds or Something Else? Despite widespread belief that Donald Trump's presidential victory odds are driving bitcoin's price, market data suggests otherwise. Analysts point to factors like U.S. monetary policy expectations and Bitcoin's supply overhang as potential drivers of the recent price fluctuations. The correlation between Trump's odds and BTC prices appears weak, challenging the prevailing narrative. Coindesk

Bitcoin Mining Centralization Threat, Trump Policy May Decentrailze China's dominance in Bitcoin mining threatens its decentralization. Ex-President Trump's promise to lower energy costs could combat this issue. Despite reports of a Chinese ban on crypto mining, China remains a major player due to its affordable electricity and infrastructure. Bitcoin mining pools involve miners working together to earn rewards for finding new blocks. Cryptoslate

MakerDAO Freezes WBTC Lending Amidst Redemption Concerns MakerDAO's recent decision to suspend new loans against wrapped Bitcoin (WBTC) has prompted investors to withdraw over $30 million in WBTC from the protocol. The halting of new borrowing is intended to reduce risks associated with potential vulnerabilities in WBTC's custody arrangement with BitGo. The move indicates a cautious approach by MakerDAO, aiming to preserve the stability of its lending platform. Cryptoslate

Bitcoin Fog Founder Faces 30 Years for Laundering Criminal Millions Bitcoin Fog founder Roman Sterlingov faces up to 30 years in prison for money laundering. Prosecutors allege the service laundered $400 million in Bitcoin, but Sterlingov's defense argues the sentence is too harsh. They cite lighter penalties in similar cases, claiming a "cumulative effect" of punishments for money laundering. Sterlingov was convicted for operating Bitcoin Fog, which allegedly laundered $47 million in criminal proceeds through anonymized Bitcoin transactions. Cryptoslate

Trump’s Transition Team Embraces Crypto, Contrasting Harris’ Regulatory Approach Former President Trump's transition team, led by Bitcoin advocate Howard Lutnick, points towards a potential pro-crypto stance if Trump wins the 2024 election. The team includes crypto-owning Senator JD Vance and Trump's sons Eric and Donald Jr., who could influence policies favorable to the crypto industry. This contrasts with Vice President Kamala Harris's recent expressions of regulatory concerns regarding crypto. Cryptoslate

Franklin Templeton's Crypto ETF Bid Eyes Bitcoin, Ethereum Exposure Franklin Templeton has filed with the SEC to launch a crypto index ETF that will provide investors with exposure to Bitcoin and Ethereum. The proposed ETF will track the CF Institutional Digital Asset Index, which currently includes only BTC and ETH. Coinbase Custody Trust Company will serve as the custodian for the fund’s digital assets, while Bank of New York Mellon will manage cash holdings and perform administrative duties. Cryptoslate

Malaysian Government Adopts Worldcoin for Digital Identity Verification Malaysia partners with Worldcoin to enhance digital credentials using iris imaging. This collaboration aims to: - Deploy Worldcoin's biometric identification technology - Explore manufacturing orbs (iris-scanning devices) - Integrate Worldcoin's blockchain with Malaysia's blockchain infrastructure This partnership aims to create unique identifiers for individuals, ensuring digital security and distinguishing humans from AI entities. Cryptoslate

IMF Proposes Hefty 85% Tax Increase on Crypto, AI Data Centers The IMF proposes an 85% tax hike on energy used by crypto mining and AI data centers, claiming they contribute to high electricity consumption and emissions. Bitcoin transactions alone supposedly require energy equivalent to a person in Ghana or Pakistan for three years. Advocates argue that crypto mining offers environmental benefits, while critics believe the tax hike aims to curb Bitcoin's growing popularity. Cryptoslate

South Korean Pension Giants Spend $80M on MicroStrategy and Coinbase South Korea's National Pension Service (NPS) has invested $80 million in cryptocurrency, purchasing MicroStrategy and Coinbase shares. This investment reflects the growing interest in digital assets among institutional investors, who see potential in the emerging asset class. The NPS previously held Coinbase shares but has now significantly increased its exposure to the cryptocurrency market. Cryptoslate

Trump Discloses Ethereum Holdings and NFT Earnings Former President Donald Trump has disclosed holding up to $5 million in Ethereum and earning over $7 million from his NFT ventures. According to his financial disclosures, Trump holds Ethereum-based assets valued between $1 million and $5 million in a cold wallet. Blockchain analytical platform Arkham Intelligence shows Trump's wallet contains approximately $3.6 million in crypto, including $1.29 million in ETH and $989,000 in wrapped ETH. Cryptoslate

North Korean Spies Infiltrate Dev Team, Steal Millions in Crypto North Korean operatives infiltrated a crypto project's team, stealing $1.3 million by pushing malicious code. ZachXBT traced the funds through a laundering process, discovering the stolen amount was first moved to a theft address, then bridged from Solana to Ethereum using deBridge. This incident underscores the rising threat of North Korean cyberattacks on crypto projects. Cryptoslate

Cybercrime Rampage: Crypto Theft and Ransomware Soar, Costing Billions in 2024 In a year marked by a decline in illicit crypto transactions, stolen funds and ransomware have surged alarmingly. Stolen funds have doubled to $1.58 billion, while ransomware inflows have increased by 2% to approximately $449 million in 2024 (Chainalysis). The impact of these cybercrimes has resulted in an estimated loss of over $2 billion in illicit crypto activity. Cryptoslate

**LI.F Integrates ThorChain for Seamless Bitcoin Swaps Across EVM Chains** Cross-chain liquidity provider LI.FI integrates with ThorChain to enable native Bitcoin swaps. This integration allows users to transfer Bitcoin seamlessly between Ethereum Virtual Machine (EVM) chains and exchange it for other cryptos. LI.FI's latest feature aims to enhance Bitcoin accessibility, facilitating its use in DeFi and other financial innovations. Cryptoslate

Donald Trump's Digital Treasures: Ether Holdings and NFT Income Revealed Former President Donald Trump holds a substantial amount of Ether cryptocurrency, valued between $1 million and $5 million. Additionally, he has earned significant income from non-fungible token (NFT) licensing fees, with $7.15 million reported from an agreement with NFT INT. Melania Trump also saw income of over $330,000 from NFT sales. The NFT trading volume for Trump Digital Trading Cards has surpassed 15,808 ETH since their introduction. Coindesk