- Coinpaper Digest
- Posts
- Bitfinex Defeats Gigantic XRP Exploit Attempt!
Bitfinex Defeats Gigantic XRP Exploit Attempt!
The cyber criminal also tried their luck on Binance with an even larger transaction of 58.9 billion XRP.
Danielle du Toit
January 15, 2024
This newsletter is brought to you by:
In 1983, a New York City developer bought an untitled painting for $19,000, not foreseeing it would sell for a whopping $110 million in 2017, yielding a 5,798x return.
This extraordinary case highlights the lucrative potential of art investment. Now, through the blue-chip art investing platform Masterworks, everyday investors have the opportunity to tap into this market. Masterworks' model allows investors to profit when it sells paintings, a success already seen in 16 sales.
Coinpaper Digest readers have exclusive, fast-tracked access to join Masterworks and start investing.
Investing involves risk, and past performance is not indicative of future returns. See important Reg A disclosures and aggregate advisory performance at masterworks.com
Here's what we've got for you today:
Bitfinex Thwarts Multi-Billion XRP Exploit in Security Triumph
Boomers Meet Bitcoin as Crypto ETFs Enter a New Age
Celsius Transfers $125M of ETH to Exchanges as FTX and Alameda Dump
The SEC Will Not Approve an Ethereum ETF Soon: TD Cowen
A sophisticated exploit attempt using XRP for a large-scale transfer to Bitfinex was successfully thwarted.
Paolo Ardoino, CTO at Bitfinex, disclosed that an attacker attempted an exploit on the exchange using XRP's partial payments feature.
The incident first surfaced when Whale Alert tracked and reported an abnormal transfer of approximately 25.6 billion XRP, valued at nearly $15 billion, from an unidentified wallet to Bitfinex.
It was also discovered that the same attacker attempted a similar exploit on Binance, involving an even larger transaction of 58.9 billion XRP.
What we know about crypto is changing as boomers become key players in Bitcoin ETF marketing, coupled with the intriguing alignment of Bitcoin and gold prices.
The launch of spot Bitcoin ETFs has been met with some uncertainty in the crypto community, but BlackRock is actively simplifying ETFs and Bitcoin knowledge for older generations ("boomers").
BlackRock started its ETF campaign with a 1:56-minute video advertisement, deliberately avoiding complex crypto terminology.
This strategy appears to specifically cater to affluent, older investors, a group that shows a preference for traditional financial institutions' engagement in Bitcoin, contrasting with the younger demographic.
The struggling companies have started moving large amounts of Ethereum (ETH) to centralized exchanges in an effort to repay their creditors.
Celsius has moved over $125 million in Ethereum (ETH) to various crypto exchanges in the last week as part of its strategy to start repaying creditors.
Additionally, from Jan. 8 to Jan. 12, Celsius transferred $95.5 million worth of ETH to Coinbase and $29.7 million to FalconX.
The bankrupt crypto exchange FTX and its inactive trading branch Alameda Research also shifted $28 million in cryptocurrencies to exchanges on Jan. 14.
TD Cowen anticipates that the SEC will first want to gain expertise with Bitcoin-based ETPs before approving ETPs for Ethereum or other cryptocurrencies.
TD Cowen, a prominent American investment bank, believes that the U.S. SEC is unlikely to approve an Ethereum ETF in the near future.
Led by Jaret Seiberg, the group at TD Cowen predict that it might take as long as 26 months for the SEC to approve an Ethereum ETF, with expectations of approval being more realistic after the upcoming U.S. elections.
This view is shared by others in the financial sector, including experts at JP Morgan, who are also not anticipating an approval for an Ethereum ETF any time soon.
👀 QUICK NEWS
MEME OF THE DAY
How did you like today's newsletter? |
That’s it for today. Don’t forget to share Coinpaper Digest with your friends!