The R Roundup: Binance Smart Chain Faces $100m+ Hack — Issue #57
A week missed in crypto could feel like a year and for Binance Smart Chain, this week definitely felt like a year following the confirmation of an on-chain hack resulting in losses of up to $100m+.
In the early hours of Friday, speculation began as the BNB Chain was temporarily halted due to “irregular activity” on the network which then was cited as a “potential exploit”.
The Binance team confirmed that due to external security partners and their internal measures, they managed to freeze roughly $7m, followed by the announcement shortly after updating that the network was indeed up and running again.
Binance founder CZ went to Twitter to confirm that the hack resulted from an exploit on a cross-chain bridge.
Kim K Catches SEC Attention For Crypto👨⚖️
The relationship between celebrities and their involvement with crypto is very blurred due to the common conception that all celebrities do is promote pumps and dumps.
With the relationship being in more jeopardy than ever because of choppy market conditions, the SEC believed this was the right time to set an example for celebrities sharing and shilling investment advice.
Following a crypto endorsement in 2021 for EthereumMax, the SEC charged Kim K $1,26m in a settlement alongside agreeing to cooperate with the ongoing investigation as she “failed to disclose the fact she got paid $250,000 for promotion”.
SEC Chair Gary Gensler took to Twitter to confirm that they had indeed charged Kim K.
Coin: A Founder’s Story Out Now🎬
Films and docuseries that build themselves around crypto rarely find themselves on mainstream streaming sites however with Coinbase’s new documentary, this could all change.
The documentary covers the journey Coinbase Founder & CEO Brian Armstrong embarked on to create what is now one of, if not the largest exchange in the world.
Armstrong documents the challenges that are inevitably going to be faced when trying to build a tech company from the ground up as well as gives major insight into the blockchain technology powering cryptocurrencies.
The documentary can be found on major streaming retailers as we have listed below!
The deep user base of these platforms exposes Armstrong's story to the entire globe however it also provides quintessential insight into a crypto company officiating to the highest degree of professionalism, which may help people take crypto more seriously!
Russia Bans Access To OKX Exchange🇷🇺
Conversations regarding how far the geopolitical tensions between Russia & Ukraine will go have been dominating contemporary conversations.
The involvement of crypto has been reoccurring during these tensions and once again we see reports breaking this week suggesting that access to the OKX website has been black-listed.
An NGO called Roskomsvoboda claimed that IP addresses were blocked from interacting with Okx.com
The reasons for the block are still unknown.
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As the bear market continues in crypto, we are looking to expand our team, ready to scale our production levels to the max!
If you are interested in working alongside our team to create #Web3 content feel free to fill out our application form and send your CV to TheRRoundup@outlok.com.
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As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. At no point should this be regarded as financial advice, feel free to familiarise yourself with our NFA disclaimer.
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