Your Favorite Crypto Digest From TradeCrypto.com #142

The statistics:

Market is red. BTC is now trading above $19,900, ETH is trading around $1,350.

💪 Bitcoin dominance: 41.65%

📉 Total Cryptocurrency Market Cap: $ 0,918 tr

😲 Fear and greed index: 23 (Extreme Fear)

🚀 Gainers (Top-100)

• Casper (CSPR)+12.93%

• Ravencoin (RVN)+5.22%

• XDC Network (XDC)+4.48%

😭 Losers (Top-100)

• Helium (HNT)-8.29%

• Algorand (ALGO)-4.26%

• Lido DAO (LDO)-3.92%

Oh, no. Transactions on the Binance blockchain, also known as BNB Chain and Binance Smart Chain, were halted ⛔ today after a potential exploit in the network was detected through a spike in "irregular activity."

"All systems are now contained, and we are immediately investigating the potential vulnerability,” 📲 the group tweeted. “We know the Community will assist and help freeze any transfers."According to blockchain security firm SlowMist, the exploit allowed cybercriminals to get away with over $570 million in digital assets, including Ethereum, Polygon, BNB Chain, Avalanche, Fantom, Arbitrum, and Optimism.

The South Korean Ministry of Foreign Affairs announced that the passport of Terra’s Do Kwon would be canceled in 14 days. The Ministry also ordered that the passport be returned to authorities 🚔. Kwon, if he chooses not to surrender his documents, will not be allowed to use them and will be restricted from a reissuance, making it difficult for him to leave South Korea or complicated to live abroad. Quite as expected.

For many miners, this will be unpleasant. Trygve Slagsvold Vedum, the finance minister of Norway, has suggested the government abolish a scheme that allows crypto data centers to pay 💸 a reduced rate on electricity.

“We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016,” 💬 said the finance minister. “In many places, the power supply is now under pressure, which causes prices to rise. At the same time, we are seeing an increase in cryptocurrency mining in Norway. We need this power for the community.”

After a build-up of multiple memorandums of understanding (MoU) and an initial “in-principle” approval to operate in Kazakhstan, Binance received a permanent license to operate in the country. This newly acquired permanent license 📃 gives Binance official status as a regulated platform in the country. Gleb Kostarev, Asia regional head at Binance, said this is another step for Binance being a “compliance-focused exchange.” The expansion continues.

What a lucky man. A judge in the Seoul Southern District Court in South Korea has dismissed ❌ the arrest warrant for Terraform Labs’ Head of General Business Operations Yoo Mo, citing a lack of necessity for his detainment.

Yoo was a “key aide” to Terra founder Do Kwon, and was accused of deploying a bot program while at Terra that artificially inflated and deflated the price of Terra’s algorithmic stablecoin UST, which lost 📉 its peg to the dollar and led to the collapse of the Terra ecosystem back in May.

Such curious details. This week, as part of the Celsius bankruptcy trial, some financial reports were made public. In particular, the media learned that CEO Alex Mashinsky had withdrawn $10 million from the company before it went bankrupt. And now other names have surfaced. In total, they withdrew about $56 million in BTC, ETH, USDC and CEL. Some of these funds appeared as collateral for some of the company's positions.

An indicative step. European Union introduced another set of sanctions against Russia due to the prolonged and recently escalated conflict in Ukraine. The new sanctions include a complete ban ⛔ on cross-border crypto payments between Russians and the EU. This statement includes the prohibition of, “all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet.”

Conclusion: No one would have thought that hackers would get their hands on BSC. Of course, the suspension and blocking of funds stopped the withdrawal process. But there were more questions raised about crypto security. Will the next target be Ethereum?

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.