Each signer possesses their own keys, and a specific threshold is required for transaction approval. Multisignature wallets require multiple signers to approve transactions and facilitate the movement of funds, enabling joint accounts in the crypto space. The research team highlighted that this vulnerability could have affected approximately $500 million worth of assets held in Tron multisig accounts, as it completely undermines the security provided by the multisig feature in TRON. This vulnerability allows an attacker to bypass the multi-signature mechanism and sign transactions with just a single signature. Security company finds $500M flaw in Tron multisig accountsĪ zero-day vulnerability has been discovered in Tron multisig accounts by the research team at dWallet Labs. Svanevik emphasized the importance of building a sustainable business while acknowledging that the company has several years of financial runway.Īffected employees will be provided with severance packages in recognition of their contributions. Despite efforts to diversify revenue streams, Nansen’s cost base remained relatively high compared to its current position. Secondly, the challenging year for crypto markets played a role in the layoffs. CEO Alex Svanevik announced on Twitter that the company had to take this step for two main reasons.įirstly, during its initial years, Nansen experienced rapid scaling, leading to the organization taking on areas not aligned with its core strategy. 30% of Nansen’s employees are laid offīlockchain analytics platform Nansen has made the difficult decision to reduce its workforce by 30%. Out of these tokens, the company has already sold 5.9 million for $10.6 million while retaining 15.37 million OP tokens valued at around $23.4 million at the current time. Wintermute had acquired a total of 21.31 million OP tokens from exchanges Binance and Coinbase at an average price of $1.01. The tokens were sold for approximately $1.63 per OP. In anticipation of the unlock, Wintermute’s wallet has already transferred 2.651 million OP tokens, equivalent to $4.31 million, to Binance in the past two days. This influx of tokens is expected to increase the circulating supply by over 100%. On May 31, a total of 386 million OP tokens will be unlocked for early contributors and investors, accounting for 9% of the total supply. The unlock is set to release $587 million worth of tokens into the market. Wintermute, a decentralized finance (DeFi) platform, has transferred its Optimism (OP) tokens to a wallet on the Binance exchange in preparation for the upcoming token unlock. Prior to the OP unlock, Wintermute transfers $4 million worth of optimism tokens to Binance Bybit also stated its intention to introduce mandatory Know Your Customer requirements for all users from May 2023. However, it mentioned that the Ontario Securities Commission had previously imposed financial penalties against the exchange in June 2022. Existing users will have until July 31 to make deposits and adjust their positions, while services will be phased out, and any remaining positions will be liquidated after September 30.īybit did not provide specific details regarding the regulatory changes in Canada that prompted its market exit. Starting from May 31, Bybit will no longer accept account opening applications from Canadians. Quick weekly news Bybit, a cryptocurrency exchange, leaves Canada due to a “recent regulatory development”Ĭryptocurrency exchange Bybit has announced that it will temporarily pause its products and services for residents and nationals of Canada due to recent regulatory developments. If you want to get these updates as soon as we post them, follow us on Twitter or Telegram. We have brought together the past week’s most exciting events in this Good Crypto digest.
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