Your Favorite Crypto Digest From TradeCrypto.com #96

The statistics:

Market is green. BTC is now trading above $23,000, ETH is trading around $1,600.

💪 Bitcoin dominance: 41.84%

📉 Total Cryptocurrency Market Cap: $ 1.053 tr

😲 Fear and greed index: 30 (Fear)

🚀 Gainers(Top-100)

• Optimism (OP)+23.06%

• Lido DAO (LDO)+13.27%

• Fantom (FTM)+7.18%

  😭 Losers(Top-100)

• Oasis Network (ROSE)-4.49%

• Cronos (CRO)-4.09%

• Qtum (QTUM)-2.96%

Thousands of Solana users 👥 collectively lost about $4.5 million worth of SOL and other tokens from Tuesday night into early Wednesday, and now there’s a likely explanation as to why: it’s being blamed on a private key exploit tied to mobile software wallet Slope.

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Solana’s developers believe that private key 🔓 details for affected wallets were “inadvertently transferred” to a third party.

After a 3-month break, Tether began to dramatically increase 📈  its supply of USDT starting on July 29.

Nearly $5 million has been drained from digital asset exchange💱  ZB.com’s hot wallet in a likely hack.

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Security firm PeckShield made the announcement 🔉 Wednesday on Twitter, posting data showing that $4.8 million in over 20 cryptocurrencies, including SHIB, USDT, and MATIC, had been transferred out of the exchange on Tuesday.

Ishan Wahi is accused of divulging confidential information about future listings at Coinbase to his brother and an associate in a case that has attracted the SEC’s attention. Former Coinbase Global product manager Ishan Wahi pleaded not guilty ❌ to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday.

The bill defines 📑  digital commodities and requires registration of digital commodities platforms by the CFTC, with language that needs tightening.

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The Nomad token bridge hack on Aug. 3 was the fourth largest crypto hack in history, seeing nearly $200 million worth of crypto assets drained 💸 from the platform. However, more than the hack, the methodology behind it garnered widespread attention.

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The exploit took place due to a smart contract vulnerability that saw hundreds of users 👥 other than the hacker getting involved. They took as much as they could by simply copy-pasting the transaction data used by the initial hacker and changing the wallet address to theirs. The event was later deemed as a decentralized robbery by many due to the involvement of normal community members.

The Archdiocese of Washington, D.C. of the Roman Catholic Church will begin accepting 🤝 donations in cryptocurrency as part of an effort to grow its ministries.

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"The Roman Catholic Archdiocese of Washington, D.C. seeks to leverage technology to engage parishioners in new and exciting ways, making it easier for the faithful to fulfill the mission of the Church," 📲 said Joseph Gillmer, executive director of development for the archdiocese.

Conclusion: One has to be careful about the Tether emission. It isn't certain that these funds will be used to purchase cryptocurrencies. The issue may have arisen because many people hold it and use it as a means of payment. Balances from Solana wallets could better be transferred to exchanges :)

What is Crypto Ping Pong digest?

TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.