Author: Max Bauer

Security firm SlowMist has issued a warning about a new scam targeting cryptocurrency users. These scams often involve the use of ChatGPT-related arbitrage MEV (miner extractable value) robots. How the scams work: Scammers often claim that the bot’s code was generated by ChatGPT to appear more credible. Victims are promised passive income through arbitrage opportunities. Users are instructed to connect their MetaMask wallet to a fake Remix site. Once the contract is activated, the deposited ETH is sent to the scammer’s wallet. Red flags to watch out for: How to protect yourself:

Coinglass suggests that a significant price movement in Bitcoin could lead to massive liquidations on centralized exchanges. According to the data, if Bitcoin falls below $61,000, the cumulative long order liquidation intensity of mainstream CEX will reach 653 million. Conversely, if BTC breaks through $64,000, the cumulative short order liquidation intensity of mainstream CEX will reach 848 million. Liquidation intensity refers to the potential impact of liquidations on the overall market. A higher liquidation intensity means that the price of Bitcoin is more likely to experience a significant move in response to liquidations. While the liquidation chart does not provide…

Bitcoin developers are urging users to update their software after a critical vulnerability was discovered that could crash over 13% of the network’s nodes. The bug, identified as CVE-2024-35202, affects Bitcoin Core software versions prior to 25.0. These outdated nodes are susceptible to a remote attack that could force them to shut down entirely. The vulnerability stems from how Bitcoin Core handles shortened transaction identifiers used to save bandwidth. An attacker could exploit a flaw in processing subsequent messages, causing the node to crash through manipulated logic. The good news: Patching this vulnerability is simple. Updating your Bitcoin Core software…

The South African Revenue Service (SARS) has announced a crackdown on crypto asset tax evasion, vowing to include these digital assets in its comprehensive tax compliance programs. The revenue collector is seeking information on crypto users and is ramping up efforts to identify and audit non-compliant taxpayers. In a statement released today, SARS urged taxpayers to participate in the Voluntary Disclosure Program, highlighting the severe consequences of deliberate tax evasion. The taxman emphasized that all non-compliant taxpayers will be held accountable, regardless of their level of involvement in crypto activities. SARS is working closely with the Financial Sector Conduct Authority…

Charles Hoskinson, the founder of Cardano, has addressed the recent surge in negative sentiment surrounding the cryptocurrency on social media. In a statement, Hoskinson attributed the decline in Twitter sentiment to a combination of factors, including years of unaddressed grievances within the Cardano community and the limitations of the previous governance system. Hoskinson Says Measures Taken Against Cardano’s Decline “This change isn’t a reflection of our project somehow failing, but rather the desired result of Voltaire,” Hoskinson explained. Voltaire, a new governance system introduced to Cardano, is designed to address the community’s concerns and facilitate the project’s growth. Hoskinson highlighted…

The Avalanche Foundation has announced that it has reached an agreement to repurchase all AVAX tokens sold to the Luna Foundation Guard (LFG) in April 2022. The agreement is currently pending approval from the bankruptcy court. The repurchase of 1.97 million AVAX tokens will ensure that LFG does not violate the original agreement’s restrictions on the tokens’ use and will shield the tokens from the complexities of a bankruptcy trustee liquidation. “This action further enhances the Foundation’s ability to support the ongoing growth and development of the Avalanche ecosystem,” said the Avalanche Foundation. Here’s the full official statement: “The Avalanche…

Scroll, a leading Ethereum layer-2 scaling solution, has faced criticism for its decision to allocate 5.5% of its total token supply to Binance. In response to questions about the deal, Scroll Co-Founder Ye Zhang defended the move, citing the importance of Binance’s support for stablecoins in emerging markets. “Binance’s support for stablecoins is crucial, especially in Africa where it holds more legitimacy than Ethereum,” Zhang explained. “This partnership will provide a lot of other support besides listing, and strong CEX support is essential for attracting users to the Ethereum ecosystem.” Zhang also addressed concerns about the timing of the deal,…

Cryptocurrency analysis firm Alphractal has released a new report outlining potential price targets for Bitcoin (BTC) based on Fibonacci sequence analysis. The report focuses on the “True Market Mean Price,” a metric that excludes cryptocurrencies associated with mining to provide a more accurate representation of Bitcoin’s underlying value. Analytics Company Sets Lower and Upper Potential Targets for Bitcoin According to Alphractal, Bitcoin’s recent surge to the True Market Mean Price x 1.854 level is a significant indicator of market euphoria. This level aligns with previous historical peaks, suggesting that further upside potential may be in store. However, the report also…

Neiro, a popular memecoin, has announced the termination of its relationship with Gotbit, a market maker company that has recently faced legal scrutiny. The decision comes in response to criticism surrounding Neiro’s association with Gotbit, which was under investigation by the US Department of Justice. In a statement released by Neiro, the project emphasized that it was not involved in any wrongdoing related to Gotbit’s activities. However, the team felt it was necessary to distance themselves from the controversy to maintain the project’s integrity. To ensure a smooth transition, Neiro has withdrawn funds from Gotbit and is actively seeking new…

Solana’s SOL token, which has seen a remarkable 900% rebound since the FTX collapse, could surge even further, according to Geoff Kendrick, global head of digital assets research at Standard Chartered Bank. Kendrick believes SOL could reach $560 by the end of 2025, giving it a total market value of $264 billion. However, this bullish prediction hinges on three key factors: 1. US Election Outcome A Trump administration, according to Standard Chartered, would be more supportive of the broader digital assets ecosystem, including Solana. This could lead to the approval of a Solana spot ETF, which could drive up demand…