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LINK(LN)

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$23.6815
(0.69%)
0.00139685 BTC
Market Cap (Rank#163)
$148,307,938
8,748 BTC
Vol 24h
$302,405
17.8373 BTC
Circulating Supply
6,262,618
Max Supply
?
11h agocryptodaily
DeFi Protocol Ankr Hit By Multi-Million Dollar Exploit
With the crypto industry’s focus on the FTX fiasco, DeFi hackers have been making merry, hitting Ankr, and as per information available, stealing $5 million. Hackers were able to exploit an unlimited minting bug. The DeFi protocol stated it is working with exchanges to mitigate the hack’s impact. Ankr Falls Victim To Exploit Ankr, a BNB Chain-based decentralized finance (DeFi) protocol, has confirmed that it has fallen victim to a multi-million dollar exploit. The attack occurred on the 1st of December and was discovered by on-chain security analyst PeckShield on the 2nd of December. Ankr confirmed the developments shortly after, stating on Twitter that hackers had managed to exploit the aBNB token. They also announced that they were working with exchanges to halt trading of the token in question. “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.” Details Of The Hack According to the available details, the hacker was able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc) thanks to a vulnerability in the smart contract for the token. “Our analysis shows the $aBNBc token contract has an unlimited mint bug. Specifically, while mint() is protected with onlyMinter modifier, there is another function (w/ 0x3b3a5522 func. signature) that completely bypasses the caller verification to have arbitrary mint !!!” PeckShield reported that the hacker had transferred around 900 BNB, worth around $253,000 into Tornado Cash. Additionally, the exploiter also bridged USDC and ETH to the Ethereum blockchain. According to PeckShield, the hacker holds 3000 ETH and around 500,000 USDC. The 20 trillion aBNBc tokens held by the attacker make them the 13th largest holder of the token. The aBNBc token is the reward-bearing token for BNB tokens staked on the Ankr platform. Vulnerabilities In The Smart Contract Code Blockchain security firm Beosin confirmed the source of the exploit, stating that it was likely due to vulnerabilities in the smart contract code, along with compromised private keys. According to Beosin, these vulnerabilities could have emerged from a technical upgrade carried out by Ankr. “@ankr has been exploited. $aBNBc has dropped -99.5%. The hacker minted tons of $aBNBc and made a profit of 5,500 BNB (~$1.6 million). The deployer changed the implementation contract to the vulnerable contract address before the attack (possibly due to private key compromise).” A spokesperson for the security firm stated, “It is possible that the deployer’s private key was exposed in this upgrade, leading to an attacker using deployer privileges to modify the contract.” Binance Investigating The Exploit Binance, in a post on the 2nd of December, confirmed that its team was engaged with Ankr and other related parties and was investigating the matter further. It also added that no Binance user funds were at risk. “We are aware of the attack targeting @ankr’s aBNBc token. Our team is engaged with the relevant parties and @BNBCHAIN to investigate further. This is not an attack against #Binance, and your funds are SAFU on our exchange. This thread will be updated should there be any updates.” ANKR And BNB Price Drops As a result of the developments, both ANKR and BNB saw a considerable drop in price. At the time the news of the exploit broke, the ANKR token dropped around 6.6%, falling to $0.0211. However, it has since recovered and is currently trading at $0.0216. The token is already over 90% down from its all-time high of $0.213. The BNB token also dropped, falling by 3.1%. However, this decline was attributed to a wider decline in the crypto markets. DeFi hacks had shot up drastically over the past couple of months, with October becoming the worst month in DeFi history. Several DeFi protocols, such as the Ethereum Alarm Clock Service, Polygon’s QuickSwap, Mango Markets, and others, fell victim to exploits. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
16h agocointelegraph
This AI chatbot is either an exploiter's dream or their nightmare
The crypto community has come across an AI-powered chatbot that can be used to audit smart contracts and expose vulnerabilities.
2 days agocointelegraph
Secret Network resolves network vulnerability following white hat disclosure
Researchers were able to decrypt all of Secret's internal transactions using an exploit.
3 days agocryptodaily
Real Spanish Football Federation Strengthens Its Web3 Presence By Launching Copa Del Rey Historical Moments With Realfevr
Lisboa, Portugal, 29th November, 2022, ChainwireThe partnership will allow football fans to collect unique video moments from Copa del Rey, a unique competition that features world-class players such as Maradona, Casillas, Messi, Cristiano Ronaldo, Zubizarreta, Futre, Neymar, Raúl, Iniesta, Hugo Sánchez, among others. RealFevr and the Royal Spanish Football Federation (RFEF), the highest governing body of Spanish football, announced today a three-year partnership for the gamification of historic and iconic moments of Copa del Rey. The partnership will allow the creation of exclusive digital collectibles showcasing memorable video moments of one of the most-watched football competitions. World-class football stars such as Diego Maradona, Iker Casillas, Lionel Messi, Cristiano Ronaldo, Thibaut Courtois, David Beckham, Gaizka Mendieta, Paulo Futre, Roberto Carlos, Neymar, Raúl, Andrés Iniesta, Hugo Sánchez, Gareth Bale, Santiago Cañizares, David Villa, Samuel Eto'o, Gerard Piqué and many others, are just some examples of players who fought for the ultimate Spanish cup. RealFevr has developed a decentralized Web3 platform that allows football fans to buy digital packs, collect historic video moments and sell them peer-to-peer (p2p) on the marketplace. The innovative Portuguese startup is currently positioned as one of the most experienced companies in this groundbreaking industry, having launched and sold out in a few hours several collections of moments, representing more than 145 thousand packs sold since the first edition launch. These moments not only can be collected, but also be used in their upcoming Web3 game: FEVR Battle Arena. The Royal Spanish Football Federation (RFEF) will become the first national football federation in the world to create official digital video collectibles from one of its competitions. This step towards innovation is fully in line with the 2020-2024 strategic plan of its current Board of Directors, which defends the professionalization, modernization, and digitalization of the organization as one of the great challenges. With the new format of the Copa del Rey, promoted 4 seasons ago, the tournament retains all its prestige and historical roots while it has gained in emotion, number of goals and attractiveness for spectators. “Progress is made one step at a time. And today, we proudly affirm being one step closer to the implementation of our vision, not just as a company, but also as an active contributor to the digital revolution in the sports industry. RFEF trusted us to take this massive step, becoming the first national football federation in the world to do so. And now, we will be able to bring beautiful pieces of Spanish football history to fans all over the world, in the form of digital collectibles.” said Fred Antunes, CEO of RealFevr. “Our agreement with RealFevr is great news for Copa del Rey fans around the world and will allow us to share with them historical moments of the competition that will be unique within the web3 ecosystem thanks to Realfevr's expertise and magnificent community of users.” stated Rúben Rivera, RFEF’s Marketing Director. The first RealFevr x RFEF drop of moments will be released in 2022, so all fans who are interested in growing their personal football collection should follow RealFevr and RFEF social media, or register their interest at www.realfevr.com. About RealFevr: RealFevr is a Portuguese startup responsible for launching the first football marketplace for NFTs, in video format. All digital collectible moments are fully licensed, thus having real intrinsic value. Based in Lisbon and created in 2015 with the aim of revolutionizing the Fantasy Leagues market, RealFevr has quickly established itself in the growing blockchain, NFTs, and cryptocurrency market. In addition to the exclusivity of collectibles in video format whose usefulness goes beyond the mere collector's perspective, these will also be playable items in Web3 games that the company is developing. $FEVR is the ecosystem's fuel, being the currency used to buy the drops. For more information, visit realfevr.com. About RFEF: The Royal Spanish Football Federation (RFEF) is the governing body of football in Spain. The federation organizes the most important tournaments, such as the “Copa del Rey”, the “Supercopa de España” and the women’s “Copa de la Reina”. With over 113 years of history, RFEF is now embracing a new path toward innovation in sports, seeing the professionalization, modernization, and digitalization of the organization as the main objectives. For more information, visit rfef.es.ContactHead of MarketingDelfim [email protected]
3 days agocointelegraph
Staking tech firm Kiln closes $17.8 million, eyes future ETH staking demand
Staking infrastructure firm Kiln has closed a $17.8 million fundraising round led by the likes of Consensys, GSR and Kraken Ventures.
4 days agocoindesk
Ethereum Staking-as-a Service Startup Kiln Raises $17.6M
The Paris-based startup is betting on the growth of staking services after Ethereum's Merge.
4 days agocointelegraph
Line shuts down crypto exchange to focus on blockchain and LN token
The Japanese messaging giant will still continue to support its Line blockchain ecosystem and the Link token despite the ongoing industry challenges.
4 days agocoindesk
UK Crypto Fraud Climbs by a Third to Over $270M: Report
The U.K. is currently in a recession and the cost of living has increased, making some people vulnerable to fraudsters.
4 days agocryptodaily
Cutting Down On Pool Fees Becomes a Necessity For Bitcoin Miners
Ongoing bearish market conditions continue to drive crypto prices down further. For Bitcoin miners, that means a fine line between breaking even or turning a loss. Finding any advantages, including reduced pool fees, can make a tremendous difference. Crunch Time For Bitcoin Miners When the price of bitcoin continues to decline, it triggers a ripple effect throughout the crypto industry. There is still some unease following the FTX bankruptcy filing. If anything, the next sell-off is around the corner, which will likely drive prices down even further. That is a problem for investors, but it also impacts the future of bitcoin mining. As Bitcoin block rewards are cut by 50% every four years, the BTC value tends to increase accordingly. For Bitcoin miners, it ensures their operation continues to either break even or become profitable. However, it creates an issue when the BTC value plummets - from $69,000 in 2021 to barely above $16,100 today. Miners must recuperate their hardware investment and operational costs as quickly as possible. Of course, that is easier said than done when the mined asset loses value. In addition, the overall Bitcoin mining difficulty has increased enormously in the past few years. As a result, significant companies and mining operators have pointed their hardware at the network to mine BTC and provide security. More mining hardware results in greater mining difficulty, impacting the revenue of all Bitcoin miners. Combined with dwindling BTC prices, it can force many operations out of business. Whether Bitcoin mining is profitable or not is a tough question to answer. There has been an increase in miner outflows - the amount of BTC sent to exchanges from known miners' wallets - indicating many are forced to liquidate every scrap of mining rewards. As a result, it will be paramount for miners to explore every advantage they can. That may lead to various miners switching mining pools, depending on where they can get the most bang for the buck. Reduced Pool Fees Are Beneficial Those who engage in Bitcoin mining have over a dozen pool options. Depending on which option they choose, the payouts will occur through PPLNS, PPS, FPPS, or other systems. In addition, Bitcoin miners must remember there is often a fee to be paid. That fee can be as high as 4%, although the industry average is closer to 2.5%. Cutting down that fee will benefit all Bitcoin miners. However, to do so, they may need to explore alternative mining pools, including PEGA Pool. The upcoming mining pool - launching in early 2023 - focuses on renewable energy mining to reduce the industry's carbon footprint. In addition, users joining the early access waitlist will get a lifetime 50% reduction on pool fees, allowing them to pocket more money from their activities. Mining fees can differentiate between keeping an operation going or being forced to shut down. PEGA Pool provides an attractive incentive to existing and future miners by slashing those fees for the lifetime of one's account. In addition, its focus on renewable energy sources aligns with a broader industry push to reduce reliance on fossil fuels. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
The Revolution of Smart Contracts: Why they are disrupting the World
A smart contract is the brainchild of the blockchain evolution. Despite still being in its primitive phase, blockchain technology has introduced the disruptive concept of decentralization and showed how it can be used to solve different problems across a multitude of industries. When Ethereum was introduced by Gavin Wood and Vitalik Buterin in 2015, it sparked the emergence of the second generation of blockchain — bringing new techniques and ideas to handle distributed ledgers. One of these techniques included smart contracts, which opened the blockchain's doors to automation. Wait, What’s a Smart Contract? To fully understand what a smart contract is, the first thing to know is that it is a program that is hosted on a blockchain network. In addition to the guarantee that data is protected from being tampered with, each contract has specific predetermined conditions that will trigger certain outcomes when met. Furthermore, smart contracts also allow parties to agree on results accurately and timely. As they are not managed by a central authority, proper smart contract implementation offers an important infrastructure for automation. What’s more, they are shielded from single-point assaults made by malicious entities like hackers. Meanwhile, in multi-party digital agreements, smart contracts reduce counterparty risk, increase efficiency, reduce costs, and maintain transparency. What Influenced the Need for Smart Contracts? With the ever-progressing digital era, smart contracts have gained traction as the decentralized solution for preparation and execution of agreements. They are available for implementation among any two parties around the world. Not to mention, these contracts are accessible, easy to implement, transparent, and free of distance and geographical limits. For example, a company based out of South Korea can ink a deal with another organization from the U.S. without the need to physically travel and sign papers. After both parties have reached a consensus on the terms and conditions, a smart contract is created. Once finalized, it will be executed on the blockchain network and be registered as a blockchain transaction. What Can Smart Contracts Offer? The primary advantage of smart contracts is the minimized risk that two parties, who might be total strangers to each other, take when they are involved in a digital agreement. This is mainly due to the possibility that either of the participants could abandon their end of the bargain (also known as “counterparty risk”). Counterparty risks are mitigated through the use of centralized institutions, like banks, to uphold the contract’s terms. However, this design gives rise to another issue where the more prominent, centralized host can exercise authority over the contracts. Using smart contracts eliminates this possibility. Besides eliminating the need for a third party, using smart contracts comes with the following benefits: Security One of the key selling points of smart contracts is having the transaction run on the blockchain. This means that hackers cannot take advantage of vulnerable points. Moreover, within a smart contract’s conditions, no trusted intermediary can be bribed or otherwise influenced. Efficiency Smart contracts can increase efficiency for multiple parties with the help of automation of back-end processes. As a result, there's no need for manual data input, and no waiting for the counterparty to meet their end of the bargain — all while eliminating the need for intermediaries. Solidity Besides providing a high level of reliability, smart contracts have their logic processed redundantly and verified by a decentralized network of nodes. Consequently, this gives the agreement protection against tampering. The high accuracy of smart contracts makes them much more reliable than other processes, as they virtually guarantee that the contract will lead to the desired result as intended. Equity Smart contracts prevent for-profit intermediaries from taking advantage of their position to make money. To achieve this, a decentralized network is called into action to provide and enforce the terms. What are the Use Cases of Smart Contracts? DeFi Products DeFi applications use smart contracts to streamline services and simplify processes. For instance, through smart contracts, users can hold their funds in escrow and give them away to others based on predefined conditions. Tokens Individuals can use smart contracts to create, monitor and assign ownership rights to digital tokens stored on the blockchain. The tokens that these contracts issue have features and functions that are of good use to users. NFTs and Gaming The mass adoption of smart contracts is typically found in blockchain-based games like Axie Infinity, Nine Chronicles, Gods Unchained, and more. Another example is Planet IX, whose smart contracts are ground-breaking since they enable real in-game asset ownership, tradable in-game assets, P2E and on-chain random lottery functionalities, decentralized governance, and a game-economy liquidity provision. Soon, Planet IX users can anticipate a new in-game economy in lending and borrowing and tradable reward-streaming NFTs. Most importantly, there’s soon to be a cross-chain gaming experience. In Summary A smart contract is a digital way of executing an agreement between two parties. It eliminates the involvement of third parties, cascades geographical barriers, and executes agreements swiftly and reliably. Likewise, smart contracts over a blockchain can be tracked and managed safely, making them highly utile instruments. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
Wahed Projects announces Strategic Partnership with EnterMed
Cranfield, England, 27th November, 2022, ChainwireWAHED is delighted to announce the signing of an official partnership with technology provider EnterMed. With over 20 years of experience in Dubai and Italy, EnterMed’s team of experts specializes in value-added integrated services and real-time applications. How the Partnership Between WAHED and EnterMed Will Bring Value A key driver of this partnership is WAHED Board Member and former member of the Italian Parliament Sergio Torromino. Bringing over 30 years of experience in metals, fabrication and oil extraction technology, Torromino’s storied career has given him invaluable insight into how systems can be scaled and streamlined. The combination of WAHED’s expertise in blockchain-based services with EnterMed’s specialization in bespoke technology stands to greatly benefit people all over the world. Expected to launch in the second quarter of 2023, the first of many collaborations between the two companies will be a Remote Patient Monitoring, or RPM, application. The RPM is a smart device used to measure and monitor the health of patients with chronic conditions, securely communicating vital indicators to healthcare providers. Real-time updates enable doctors to make decisions with the lowest possible delay, reducing the time needed to make life-saving decisions. When deployed at scale, this technology will provide a great deal of insight into preventing and treating illnesses. RPM’s will immediately provide benefits to those suffering from hypertension, diabetes, COPD and asthma, and the research team is working on expanding its capabilities even further. Using encrypted identification secured by the blockchain to ensure that data stays anonymous, the data collected stands to greatly increase our understanding of these conditions while ensuring that patients keep full control of their personal information. About Entermed Founded in 1998, EnterMed has been providing technology solutions across a variety of fields including aviation, security, healthcare and web applications. Specializing in creating and managing bespoke software, among EnterMed’s achievements is its presence as a mainstay in airport emergency management systems around Italy. About WAHED WAHED is a next-generation investment and philanthropy platform powered by WAHED Coin. Based in the United Kingdom and headed by Shaikh Abdulla Bin Ahmen Bin Salman AlKhalifa, WAHED has a vision of improving the world by nurturing business activities. Serving as a blockchain and investment partner, WAHED aims to bring all the advantages of the decentralized economy to businesses seeking to deliver value at a greater scale, and with improved efficiency. WAHED Coin will be available for trading on LBank on the 5th of December 2022. Join the WAHED community to get all the latest updates regarding partnerships, new features and more. Visit our official website for more information and join our Twitter, Discord, Facebook and Instagram.ContactWahed Projects teamWahed Projects Tea,[email protected]
5 days agocryptodaily
Crypto Weekly Roundup: Ethereum Unstaking, Genesis And More
Let’s take a closer look at the multitude of ways that the FTX crash continues to affect market conditions, global regulations, and liquidity pools. Bitcoin The El Salvadoran Minister of the Economy has introduced a bill that will enable the Bukele government to raise $1 billion in order to build out its proposed Bitcoin city. United States Senators issued another letter to Fidelity Investments, urging it to reconsider offering Bitcoin to its customers following the total collapse of cryptocurrency exchange FTX. As Bitcoin continues its descent to a bottom and the rest of crypto follows, those with the money, especially billionaires, still hold on to their firm beliefs in the industry. Ethereum Ethereum developers have finally begun testing the withdrawal of staked ETH with the launch of a new developer network. The hacker behind the attack on the FTX exchange has started offloading ETH worth millions of dollars, resulting in a dramatic drop in the price of the cryptocurrency. DeFi MakerDAO has announced that it has passed a governance vote to remove Alameda Research-linked renBTC from its stablecoin collateral vaults. Crypto trader Avraham Eisenberg, responsible for the Mango Markets exploit, has seen his short position liquidated, thanks to a series of wild swings in the CRV price. Altcoins The United States was added to the list of regions geo-blocked from using an upcoming Apecoin staking service. Technology The deputy governor of the Bank of England has said that following the FTX crash, crypto must have regulations to protect consumers and the wider financial system. Business The United Kingdom and Singapore agreed to a Memorandum of Understanding (MoU) to boost financial technology (FinTech) trade and cooperation between the two nations. Binance, CrossTower, and Wave Financial are bidding once more for the grand prize of Voyager Digital and its assets. Binance CEO Changpeng Zhao (CZ) has said that the turmoil in the market does not indicate the end for crypto; in fact, according to him, it is just the beginning of a new chapter. However, in a now-deleted tweet, CZ seemed to have cast serious aspersions about Coinbase and Grayscale. Singapore-based crypto lender Hodlnaut is reportedly facing an investigation by the Singapore police related to alleged fraud and cheating. Hackers targeted crypto venture capitalist and Fenbushi founder Bo Shen’s private Ethereum wallet and drained it of crypto worth $42 million. FTX founder Sam Bankman-Fried will be talking with New York Times columnist Andrew Sorkin at the DealBook Summit on Wednesday. Cathie Wood’s ARK Invest has taken advantage of the bear market and bought over a million shares of Coinbase this month. Genesis has claimed that it is in talks with investors and wants to resolve its fund shortage without filing for bankruptcy. Crypto hedge fund Grayscale has refused to follow the trend of disclosing proof of reserves, citing security concerns. Regulations A Belgian regulatory body has declared that BTC, ETH, or any other cryptocurrency generated by computer code is not classified as securities. The International Monetary Fund (IMF) has called for tighter crypto regulations in Africa in order to stunt any further growth on the continent. Lawmakers in Russia are working on changing legislation to allow a national crypto exchange after holding anti-crypto views for years. NFT Leading toy brand Mattel will be launching its own digital collectibles marketplace on its direct-to-consumer platform, Mattel Creations. Football fans following the FIFA 2022 World Cup in Qatar can now buy digital merchandise to support their favorite teams, including “tokenized” NFTs of the most incredible goals. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
7 days agocryptodaily
Binance Recovery Fund Worth $1B, Crypto Daily TV 25/11/2022
In Todays Headline TV CryptoDaily News: Binance targets $1B recovery fund. Binance is targeting $1 billion or more for a previously announced recovery fund to buy distressed crypto assets, CEO Changpeng "CZ" Zhao said in an interview. The fallout of FTX's bankruptcy has been felt deeply across the entire industry, leading to other companies like lender BlockFi reportedly preparing for bankruptcy. Global regulators to target crypto platforms after FTX crash. The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview. Singapore starts fraud investigation into crypto exchange Hodlnaut. Singapore police have started an investigation into the troubled crypto exchange Holdnaut. The white-collar division of the police force is looking into allegations of cheating and fraud by the company and its directors, according to reports. BTC fell 0.3% against USD in the last session. The Bitcoin-Dollar pair dropped 0.3% in the last session after rising as much as 1.0% during the session. The Stochastic indicator is giving a positive signal. Support is at 15979.6667 and resistance is at 16995.6667. The Stochastic indicator is giving a positive signal. ETH/USD exploded 1.1% in the last session. The Ethereum-Dollar pair rose 1.1% in the last session after gaining as much as 2.7% during the session. The CCI is giving a positive signal. Support is at 1107.2967 and resistance is at 1228.3767. The CCI is currently in the positive zone. XRP/USD skyrocketed 5.2% in the last session. The Ripple-Dollar pair exploded 5.2% in the last session. According to the Stochastic-RSI, we are in an overbought market. Support is at 0.3633 and resistance is at 0.3914. The Stochastic-RSI is signalling an overbought market. LTC/USD dove 1.4% in the last session. The Litecoin-Dollar pair plummeted 1.4% in the last session. The Stochastic indicator is giving a positive signal, which matches our overall technical analysis. Support is at 64.6033 and resistance is at 89.1033. The Stochastic indicator is currently in positive territory. Daily Economic Calendar: DE Gfk Consumer Confidence Survey The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity, making it an indicator of consumer spending. Germany's Gfk Consumer Confidence Survey will be released at 07:00 GMT, Germany's Gross Domestic Product at 07:00 GMT, and the French Consumer Confidence at 07:45 GMT. DE Gross Domestic Product The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health. FR Consumer Confidence The Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. IT Business Confidence The Business Confidence is a survey of the current business conditions. It indicates the short-term performance of the overall economy. Italy's Business Confidence will be released at 09:00 GMT, Singapore's Industrial Production at 05:00 GMT, and Japan's Jobs / Applicants Ratio at 23:30 GMT. SG Industrial Production Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines and utilities are measured by the index of the industrial production. JP Jobs / Applicants Ratio The Jobs to Applicants Ratio released by the Japan Institute of Labour is obtained by dividing monthly active job openings by monthly active applications. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
7 days agocryptodaily
Crypto Lender Hodlnaut Under Investigation For Possible Fraud
Singapore-based crypto lender Hodlnaut is reportedly facing an investigation by the Singapore police related to alleged fraud and cheating. The police had received several reports that the crypto lender had downplayed its exposure to a “specific token.” Investigation Based On Multiple Complaints According to several reports circulating in local media, Singapore’s white-collar crime unit, the Commercial Affairs Department (CAD), has launched a probe into crypto-lender Hodlnaut and its founders. The investigation was launched on the basis of multiple complaints received by the police against the platform between August and November 2022. The police stated that a majority of the complaints centered around false representations and misinformation about the company’s exposure to a “certain digital token.” Additionally, the police advised investors impacted by the crisis unfolding at Hodlnaut to file an online complaint and submit any verifiable documents related to their transaction history on the platform. The Unknown Token The “unnamed” token in question most likely refers to Terra’s collapsed USTC token, formerly UST. UST was an algorithmic stablecoin pegged to the US dollar, which rapidly lost its peg in May. So far, there has not been a confirmation from the authorities if this indeed is the token in question. The Terra ecosystem faced an unprecedented collapse, leading to several crypto lenders going bankrupt. These included Celsius, Voyager, and Vauld. The crisis was also the reason behind Hodlnaut’s current liquidity issues. The Hodlnaut Crisis Hodlnaut was badly impacted due to the Terra collapse. The first signs of trouble emerged on the 8th of August when the lender suspended all withdrawals on the platform, citing liquidity issues. The platform stated that it was suspending withdrawals to work with its legal advisors and develop the best possible restructuring and recovery plan for its users. The crypto-lender filed for interim judicial management on the 13th of August so that it could gain protection from any legal claims. At the time, the crypto lender claimed it had no exposure to the algorithmic Terra stablecoin. However, on-chain data showed otherwise, suggesting that Hodlnaut held at least $150 million in USTC. A judicial report later confirmed this, which noted that the crypto lender lost nearly $190 million due to the Terra collapse. Hiding Its Exposure The report also stated that Hodlnaut deleted thousands of documents related to their investments in order to hide their exposure to Terra. This was successful to some extent, as the lender was able to keep its USTC exposure under wraps for three months after the Terra ecosystem collapse. However, the eventual liquidity crisis forced the company to seek judicial management, which the Singapore High Courts granted. Report Reveals Details The high court appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee from EY Corporate Advisors Pte. as the company’s interim judicial managers. The report published by the judicial managers at the end of October revealed the extent of Hodlnaut’s exposure, stating that it lost $189.7 million as a result of the Terra crash and adding that the company downplayed its exposure to Terra. A new report added even further fuel to the fire, stating that nearly 72% of the assets held by the lender on centralized exchanges were deposited in the now-bankrupt FTX exchange. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
8 days agocryptopotato
Crypto Lender Hodlnaut Investigated by Singaporean Authorities (Report)
Hodlnaut's directors might have defrauded clients, the Singaporean police claimed.
8 days agocointelegraph
Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Hodlnaut reportedly lied about its exposure to the now-defunct Terra algorithmic stablecoin and lost nearly $190 million.
8 days agocryptodaily
Candy Club Offers 100,000 Candy-USDT Reward for World Cup Celebration
Hong Kong, Hong Kong, 21st November, 2022, ChainwireWith over 100,000 candy-USDT in prizes, Candy Club World Cup extravaganza will turn up the heat with crypto winter and give crypto fans a much needed cause for celebration over the next 28 days. Throughout the 4 week tournament in Qatar, Candy Club will give out over 100,000 Candy-USDT to players who sign up and play. With bonuses given out for wager sizes, parlays, pick the winner and more, this is the biggest web3 prize pool to showcase crypto’s love for the world game. From moneylines, totals, proposition bets to world cup futures, Candy Club will offer the widest and most exotic World Cup wager options for the 64 games. As a premier online social crypto gaming platform, Candy Club opens the world of slots, blackjack, roulette, bacarrat, blockchain gaming and sports wagering to football and gaming fans around the world. The best part of Candy Club’s World Cup campaign is that all wagers can be made using the largest selection of ERC20/BEP20 tokens available in the market. No longer are players restricted to making wagers in BTC or ETH, now they can use their altcoins to enjoy the fun and excitement of the World Cup. As importantly, the ability to use any ERC20 or BEP20 token provides DeFi, NFT, GameFi & Metaverse projects with an utility token the choice to adding risk free utility to their token and give their community a much needed token use case this crypto winter. "This World Cup, Candy Club is giving the crypto hodlnauts something to smile about. Since our launch at Token2049, we have been working crypto-speed to increase the token demand of all ERC20 & BEP20 projects and give all communities a ray of hope. That ray of hope is amplified during the World Cup where we want to reward all those who diamond handed during this crypto winter!’ said David Barrantes, President of Candy Club. For any ERC20/BEP20 looking to increase their token utility through Candy Club, please contact our business development team on www.candyclub.io About Candy Club Candy Club is the world’s first social crypto gaming platform that accepts all Ethereum and Binance Smart Chain projects with a ERC20 or BEP20 utility token. Legally compliant and security focused, Candy Club opens the social gaming experience to over 14,000 cryptocurrency projects and over 73 million wallets. Website | Twitter | Telegram |ContactVP MarketingRyan HeCandy [email protected]
8 days agocoindesk
Singapore Starts Fraud Investigation In to Crypto Exchange Hodlnaut: Reports
The police are reportedly looking into allegations of cheating and fraud by the company and its directors.
9 days agocryptodaily
How Flasko (FLSK) Is Taking Away The Spotlight From Solana (SOL) And Cardano (ADA)
Early investors in cryptocurrencies like Solana (SOL) And Cardano (ADA) have seen their investments soar as these coins have risen to the top of the market capitalization rankings. Future highs for these cryptocurrencies seem highly unlikely, as these tokens are not backed by physical assets that hold value, which is why there is a lot of fluctuation in the prices of coins like Solana (SOL) And Cardano (ADA). Flasko is emerging as a unique platform for crypto investors and shows great promise. Solana (SOL) Investors Hopes for Future Improvements One of the most well-known decentralized cryptocurrencies out there is Solana (SOL). Its speed, efficiency, and longevity have won its widespread popularity. Because of the hybrid technology that underpins Solana (SOL), it gained much attention from crypto investors. However, Solana (SOL) has lately suffered from a few large hits in 2021 - 22. The Solana (SOL) team is ready to deliver new updates to address such vulnerabilities, it is expected that Solana (SOL) will gain more traction eventually, but it doesn’t seem like a good investment for the coming year. Cardano (ADA) Doesn’t Show Long-Term Potential Cardano (ADA) has seen a price increase of 5% after a continuous downtrend since January 2022. While the crypto industry is well known for overnight price spikes, it seems highly unlikely for Cardano (ADA) to increase in its worth anytime soon. As a result, investors wary about losing their money in the cryptocurrency market are reluctant to put their money into Cardano (ADA). This is why they are investing more time and energy in Flasko and withdrawing from Cardano (ADA) investments. Flasko (FLSK) Is Gaining A lot Of Investor Attention Flasko presale has begun attracting crypto investors from all around the world. The possibility to invest in fine wines, whiskeys, and champagnes as fractionalized NFTs is appealing because it is unique, forward-thinking, and transparent; it provides cryptocurrency investors a path to the growing alternative investments industry. Flasko’s initiative is unique and the first of its kind, backed by physical assets holding a lot of worth in real life, which makes investing in Flasko tokens a foolproof way to grow your money. Flasko has passed an audit with Solid Proof and will lock liquidity for 33 years. Currently, Flasko tokens are priced at only $0.085, so it is a great time to invest in Flasko tokens, as experts predict one Flasko token will be worth $3.20 - $3.40 by March 2023. If you want to jump on the Flasko bandwagon, check out the links below to stay up to date with the Flasko presale. Website: https://flasko.io Presale: https://presale.flasko.io Telegram: https://t.me/flaskoio Twitter: https://twitter.com/flasko_io Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
10 days agocointelegraph
Hong Kong believes stablecoin volatility can spillover to traditional finance
According to Hong Kong’s central bank, the interconnection of crypto assets has made the crypto ecosystem more vulnerable to systematic shocks.
14 days agocoindesk
Crypto’s Very Human Fatal Flaw: Hero Worship
Misplaced admiration of Sam Bankman-Fried, prior to the FTX collapse, was a natural tendency. To move forward, we must recognize this vulnerability and safeguard with appropriate regulation.
16 days agocoindesk
4 Key Takeaways from the FTX Fiasco
The real reason why the FTX failure hits so hard is not because the crypto industry was duped, but because it proved that the industry was vulnerable to being duped.
22 days agocoindesk
Troubled Crypto Lender Hodlnaut Had $18M on FTX Before Withdrawal Freeze
Crypto lender Hodlnaut has been dealt another blow in its pursuit for recovery after it emerged that it has $18 million stuck on FTX, the crypto exchange that halted withdrawals earlier this week.
24 days agocointelegraph
Gym owners aim to bring NFT memberships to wellness clubs
NFT membership models are being leveraged to solve challenges faced by the fitness industry.

About LINK

The live price of LINK (LN) today is 23.6815 USD, and with the current circulating supply of LINK at 6,262,618 LN, its market capitalization stands at 148,307,938 USD. In the last 24 hours LN price has moved -0.4477 USD or -0.02% while 279,050 USD worth of LN has been traded on various exchanges. The current valuation of LN puts it at #163 in cryptocurrency rankings based on market capitalization.

Learn more about the LINK blockchain network and how it works or follow the price of its native cryptocurrency LN and the broader market with our unique COIN360 cryptocurrency heatmap.

LINK Price23.6815 USD
Market Rank#163
Market Cap148,307,938 USD
24h Volume302,405 USD
Circulating Supply6,262,618 LN
Max SupplyNo Data
Yesterday's Market Cap149,425,860 USD
Yesterday's Open / Close24.3077 USD / 23.86 USD
Yesterday's High / Low24.3906 USD / 22.9528 USD
Yesterday's Change
-0.02% ( 0.4477 USD )
Yesterday's Volume279,050.28 USD
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