How a Polkadot trader may have crashed DOT futures

On March 5, Polkadot (DOT) experienced a flash crash at Binance perpetual futures which resulted in the contract trading as low at $0.20. While this could have been an honest fat-finger trading mistake, a number of indicators point to a planned-attack. While no hard evidence will likely ever emerge, the open interest increase just 24 hours ahead of the event indicates that an attacker could have generated a $8.3 million profit by manipulating Binance’s matching engine. DOT perpetual futures on Mar. 4, USD pricing. Source: Binance As shown above, during…

Traders speculate that Bitcoin’s price may continue to trade sideways for now

Bitcoin’s price has declined in recent days. While it has rebounded from its weekly lows, the asset’s trajectory remains uncertain says CryptoWendyO, a crypto trader on Twitter.   “The daily timeframe is not looking great as we are having trouble sustaining $50K,” she told Cointelegraph on Friday. “I am feeling like we will get a run to $51.6[K].” She added: “From there I would be cautious as rejection could lead back to the $50K -$45K range. A break down there could be a swift wick to $42-38K with a glorious recovery.…

NFT hype will calm, but the concept won’t disappear, MEW founder speculates

Nonfungible tokens, or NFTs, have gained significant traction in the crypto space in recent months, with some tokens selling for millions of dollars. Even though the current excitement over NFTs will eventually simmer down, the concept will live on, according to the CEO and founder of MyEtherWallet, Kosala Hemachandra.  “NFT is currently a hot topic, but I’m sure the hype around it will soon die down,” Hemachandra told Cointelegraph. “Similarly, ERC-20-based tokens were a hot topic in 2017 because of ICOs, now it’s not news to anyone, as people use…

John McAfee Indicted by Department of Justice

Key Takeaways The U.S. Department of Justice has indicted John McAfee for allegedly running a crypto “pump and dump” scheme.  The entrepreneur was previously charged by the U.S. SEC. with fraudulently promoting ICOs. McAfee was detained in Spain last year after he was arrested on criminal tax evasion charges.  Share this article Eccentric entrepreneur John McAfee is in more trouble with U.S. authorities over an alleged “pump and dump” scheme and ICO. McAfee Charged With Fraud McAfee has been indicted on charges of fraud and money laundering by the U.S.…

Bitcoin, Ethereum, XRP Poised to Resume Uptrend

Key Takeaways Bitcoin sits on top of a significant support wall that may allow it to rebound towards new all-time highs. Ethereum’s upcoming protocol update could be the catalyst that ignites another bull rally.  XRP remains one of the most popular cryptocurrencies in Asia Pacific despite its legal uncertainty in the U.S.  Share this article Extreme volatility levels in the cryptocurrency market have led to massive liquidations over the past few weeks. Despite the significant losses incurred across the board, data shows that Bitcoin, Ethereum, and XRP are about to…

Bitcoin Loses Bear Market Trendline Against Altcoins

Aside from a few rare outliers, over the last several years, owning Bitcoin has been the better investment compared to other cryptocurrencies. Altcoins like Ethereum and others have only recently caught up, and BTC dominance has maintained the lion’s share of the crypto market cap. However, dominance has lost an important trendline dating back four full years to the peak of the last bull market, and it could suggest a major turnaround is about to occur across the crypto market. Could this be the altcoin season crypto investors have been…

PAID Network exploiter nets $3 million in infinite mint attack

Paid Network, a DeFi platform aimed at real-world businesses, has been exploited today in an “infinite mint” attack that has sent PAID token prices plunging upwards of 85%. While the exploit netted nearly $180 million in PAID tokens at the time of the attack — what would have comfortably been the largest exploit of a DeFi protocol — the hacker’s payday will end up being far less. One observer noted that the attacker’s wallet only converted some of their tokens to wrapped ether, leaving the rest in rapidly-devaluing PAID tokens: …

Is Bitcoin a Ponzi scheme? Pick your side in the latest Cointelegraph Crypto Duel!

Does Bitcoin meet the definition of a Ponzi scheme? This is the subject of the latest Cointelegraph Crypto Duel, where Bitcoin strategist at Kraken meets professor of computer science at the University of Campinas, Jorge Stolfi. Similar to other Bitcoin skeptics, Stolfi repeatedly defined Bitcoin as a Ponzi scheme. The core of his argument is that Bitcoin doesn’t produce any cash flows and the money with which Bitcoin investors are paid comes exclusively from new investors buying Bitcoin. “Every time you invest in Bitcoin, the money that you invest goes…