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Cryptocurrencies/Coins/Wrapped Bitcoin (WBTC)
Wrapped Bitcoin price, market cap on Coin360 heatmap

Wrapped Bitcoin(WBTC)

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$24,503.20
(2%)
1.00012406 BTC
Market Cap (Rank#19)
$5,985,294,762
244,296 BTC
Vol 24h
$98,307,508
4,013 BTC
Circulating Supply
244,265.88
Max Supply
119,893
2 days agocryptodaily
Circle Freezes All Blacklisted Tornado Cash Addresses As Sanctions Take Hold
The USD coin (USDC) issuer, Circle, has frozen around 75,000 USDC worth of funds linked to 44 Tornado Cash addresses listed in the US Treasury Department’s sanctions against the protocol. The issue was highlighted by a Twitter bot, USDC blacklist, which scrapes the blockchain for USDC blocklists. Over 75,000 USDC Worth Of Funds Frozen Crypto data aggregator Dune Analytics announced the news of the freezing, which stated that the issuer of the USDC stablecoin had frozen over 75,000 USDC worth of funds that were linked to 44 Tornado Cash addresses that were sanctioned by the US Office of Foreign Asset Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Tornado Cash is a decentralized application that individuals use to obfuscate any trail of crypto transactions on the Ethereum blockchain. Interactions With Sanctioned Addresses Prohibited US entities and individuals are prohibited from interacting with the virtual currency mixer’s USDC and Ethereum smart contract addresses on the SDN list. Any entity or individual that interacts with Tornado Cash’s Ethereum smart contract addresses and USDC could potentially attract a fine ranging from $50,000 to $10,000,000 and imprisonment ranging from 10-30 years. It is estimated that Tornado Cash’s smart contract addresses hold around $437 million worth of assets. These assets consist of Ethereum, Wrapped BTC, and a host of stablecoins. With the blacklist in place, issuers will now have to take steps to prevent transactions or redemptions of the assets in question. Circle’s Blacklist Policy Jeremy Allaire, Circle CEO, confirmed in June that USDC does feature a blacklist function to block addresses as and when legally required. USDC’s blacklist policy states that once an address is blacklisted, it can no longer receive any USDC into the address, and any funds held in that address cannot be transferred to any on-chain address. This means any funds held at the blacklisted address are effectively frozen indefinitely. Tornado Cash co-founder Roman Semenov revealed that his Github account was also suspended following the announcements of the sanctions. Potential Impact At present, the impact of Tornado Cash and its inability to operate is not known. However, California-based BitGo would have to make some adjustments to restrict access to Tornado Cash to comply with the sanctions. BitGo could suspend the redeeming of Tornado Cash-linked WBTC to abide by the sanctions. Pseudo Anonymous DeFi educator BowTiedIguan stated that the sanctions on Tornado Cash apply across the board. Even interactions such as Gitcoin donations, working for the project, visiting its website, downloading and running its client, and depositing/withdrawing from associated smart contracts could be deemed a violation. 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 agocryptodaily
Klaytn Portfolio Rebalancer Klex Finance Launches Live Testnet
Klex Finance, a Klaytn portfolio management protocol, has launched its testnet. The move sets the stage for an imminent mainnet launch that will extend the DeFi capabilities of Klaytn’s EVM-compatible network. On August 2, Klex announced the successful deployment of its testnet, signaling that the wait for a Balancer-style DeFi protocol on Klaytn is almost over. The testnet deployment arrives just three weeks after Klex exited stealth mode with its maiden blog post. In the “Hello World,” announcement, Klex noted that Klaytn “lacks a native and efficient automated portfolio management and swaps protocol that supports all types of AMM pools.” Klex Finance has been designed to drive greater capital efficiency that will connect the entire Klaytn ecosystem. More Liquidity, Less Slippage One of the greatest challenges facing users of decentralized finance platforms is liquidity fragmentation. Having multiple DEXs and AMMs on a network might be good for decentralization and censorship resistance, but it leaves liquidity in shallow pockets rather than deep pools. There are a couple of solutions to this problem. One is to create an aggregator that splits orders across multiple DEXs to ensure less slippage and better pricing. And the other is to create more efficient pools. Klex Finance has gone for the latter approach, emulating Balancer’s tried and tested design to offer three options for DeFi traders: Weighted pools that can support up to eight different tokens Stable pools for swapping stablecoins or synths at size Liquidity bootstrapping pools for launching new tokens All this will come bundled with Klex protocol when it debuts on mainnet, together with such features as reduced gas fees and better LP incentives. Liquidity providers will earn a share of the fees generated from each Klex pool, while traders can look forward to more efficient swaps between assets such as USDC, WBTC, and KLAY. Krew Flexes Its Muscles Klex is the second product to be developed by Klaytn accelerator Krew. It follows the success of Klaytn Lending Application (KLAP), which grew to become the second most popular dApp on Klaytn within weeks of its launch. More than $47 million in assets are now locked into the KLAP platform according to data from DefiLlama. Krew will be hoping it can pull off a similar feat when Klex goes live. While there’s lots to be done with Klex Finance before a native token can be discussed, it’s inevitable that the protocol will follow KLAP in launching one. In late July, the KLAP token was issued to early users of the lending and borrowing protocol, together with a veKLAP provision for stakers, who can earn additional rewards. Klex will follow suit once its platform has been suitably battle tested. In a blog post describing the user experience that Klex will provide, it was explained that “KLEX holders will vote on proposals relevant to the Protocol, such as…protocol fees to how KLEX tokens themselves are distributed, like the allocation of tokens towards the Klex Liquidity Mining program.” Once the testnet program has concluded, Klex Finance will announce its mainnet launch, ushering in a new era for portfolio management on Klaytn. 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
9 days agocryptodaily
Nomad Cross-Chain Bridge Drained of Nearly $200M in Exploit
The cross-chain token bridge Nomad suffered an exploit on Monday, August 1, with attackers draining the protocol of nearly all its funds. The total value of cryptocurrencies lost to the attack has totaled nearly $200 million. Hundreds of potential exploiters, including white hat hackers who intend to return the funds, managed to remove all the bridge’s total locked value (TVL) in just a matter of hours. This attack is the most recent in a string of highly publicized incident that calls into question the security of cross-chain bridges. Nomad, like other cross-chain bridges, allows its users to send and receive tokens between different blockchains. Nearly the entire $190.7 million in cryptocurrencies has been removed from the bridge, with only $651.54 left remaining in the wallet according to decentralised finance tracking platform DeFi Llama. Nomad has however suggested that some of the funds were withdrawn by white hat hackers with the intention of keeping them safe. The Nomad team confirmed the exploit to CoinDesk in a statement saying, An investigation is ongoing and leading firms for blockchain intelligence and forensics have been retained. We have notified law enforcement and are working around the clock to address the situation and provide timely updates. Our goal is to identify the accounts involved and to trace and recover the funds. The first transaction thought to be suspicious and which may have been the genesis of the ongoing exploit came at 9:32 pm UTC when someone managed to remove 100 Wrapped Bitcoin (WBTC) worth about $2.3 million from the bridge. The community shortly thereafter raised alarm bells over the potential exploit and the Nomad team confirmed at 11:35 UTC that it was aware of the “incident involving the Nomad token bridge” adding it is “currently investigating the incident.” Thus far, one individual has come forward as a white hat hacker who intends to return to funds they took from the bridge. The individual goes by ‘Notify Bot’ on Twitter and said, This is a whitehack. I plan to return the funds. Waiting for official communication from Nomad team (please provide an email id for communication). I have not swapped any assets even after knowing that USDC can be frozen. Transferred USD... Tokens were taken in a very unusual way as each was removed in nearly equivalent denominations. Transactions with exactly 202,440.725413 USDC were executed over 200 times for example. The incident also saw WBTC, Wrapped Ether, USD Coin, TRax, Covalent Query Token, Hummingbird Governance Token, IAGON, Dai, GeroWallet, Card Starter, Saddle DAO, and Charli3 tokens taken from the bridge. 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.
16 days agocryptodaily
Klaytn Lending Platform KLAP Launches Its Native Token
Klaytn Lending Application (KLAP) has released its native token. The second largest dApp on the Klaytn blockchain, KLAP grew to become the leading lending and borrowing protocol within days of its May launch. Now, its eponymous KLAP token is being distributed to early users of the platform. Klaytn Users Catch KLAP The native token of KLAP protocol will have a total circulating supply of 1 billion, but just a fraction of that will be distributed initially – 6% to be precise. That’s calculated to be enough to seed initial liquidity pools, and to reward early users of the KLAP platform, leaving the bulk of the tokens to be distributed as rewards over time. The token became available for trading on decentralized exchange ClaimSwap on July 25 at 22:00 ET. KLAP will serve as a governance token, as is standard practice for protocols issuing a native token. This will enable KLAP holders to vote on key decisions concerning new liquidity pools, reward rates, protocol upgrades and suchlike. There’ll also be a lot more that can be done with KLAP however. The KLAP team has decided to go down the “ve” token route that was made famous by Curve and then adopted by such protocols as Frax Finance. In this system, users who lock up their tokens through staking for a lengthy period of time will be awarded ve tokens which are a virtual representation of their holdings; veKLAP in this case. While ve tokens can’t be sold on the open market, they do entitle the owner to other benefits such as yield boosters on liquidity mining rewards for both lending and borrowing. DeFi Gains Ground on CeFi Decentralized finance, which stagnated through late 2021 and early 2022, has begun to show signs of innovation once more. Trust in DeFi protocols has also risen, stirred by the spectacular collapse of CeFi apps such as Celsius and lenders like BlockFi and Voyager. The mantra “not your keys, not your coins” has been brought sharply into focus, sending retail users flocking to DeFi lending platforms such as Aave, Compound, and KLAP en masse. The EVM-compatible Klaytn blockchain has been a huge hit in Asia, with more than a million wallets created since launch, even if it is less known in the West. The maturation of smart contract blockchains can be seen in the time it takes them to acquire a complete set of DeFi primitives including platforms for trading, derivatives, lending, and NFTs. With KLAP taking care of the borrowing and lending side of things, Klaytn now has a full stack, and it’s got the users too. Tokens such as ETH, KLAY, and WBTC can already be posted as collateral on Klaytn Lending Application, whose TVL stands at $106 million. KLAP will soon be added to that list, enabling depositors to provide liquidity to earn a passive income, and borrowers to obtain collateralized stablecoin loans. Only KlaySwap DEX has more liquidity locked on Klaytn. KLAP will be hoping the launch of its native token can propel it to the top of the dApp charts. 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
23 days agocryptodaily
Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering
San Francisco, United States, 19th July, 2022, ChainwirePortal, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th. Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses. According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain. Portal CEO Eric Martindale said, "The signal remains strong in the storm — Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services." The Reg D equity offering via Republic’s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network. Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system. The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits. Portal’s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of “smart contracts” for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control. Participation Details Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They’ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH. The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast. About Portal Portal is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that’s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining. Portal’s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin. For further information, visit: Website | Twitter | Discord | TelegramContactsGeorge [email protected]
28 days agocoindesk
Celsius Pays Off Last DeFi Loan, Reclaims Nearly $200M of Wrapped Bitcoin From Compound
The troubled crypto lender Celsius has closed its last remaining loan from a DeFi protocol after previously paying off loans on Aave and Maker loan.
29 days agocryptodaily
Gorilix gains traction as Polygon and Binance’s BNB stand firm
Following its recent trend, Gorilix (SILVA) has continued gaining footing and building traction during its presale. With just over a week left in the first stage, we have seen a total of 15 million SILVA tokens purchased so far. The SILVA hype train is in its early stages, so it hasn’t left the station just yet, but so far in its short life span, the token has seen impressive growth with its price tripling already. Now priced at $0.026 per token, up 230% from its $0.008 market debut, it would appear the token is still modestly priced with much room for growth. Generally speaking, new tokens’ early growth phases are during the presale, shortly after launch, and when they are listed on major exchanges. For Gorilix, the presale phase will conclude on September 6th, when it will launch onto UniSwap. Soon after this launch, the plan is for the token to be listed on many more exchanges, thus increasing its reach and opportunity for growth. The value in the Gorilix proposition is in both the token and the Gorilix Defi platform, which is being built to enable crypto casuals, enthusiasts, traders, and investors to maximize their crypto portfolios and gain interest on all their holdings,including custom ERC20 tokens. To buy your SILVA tokens or learn more about GorilixDEFI, visit https://gorilix.io. Turning tide After experiencing a good month of trading which sees Polygon (MATIC) up over 30% in the past 30-days, Polygon continues to be resilient, showing the tide may slowly changefrom the crypto winter of May and June. Despite the value dropping as much as 6% on Wednesday 13th July, the price has begun to climb again, showing sustained resilience against broader market conditions. MATIC’s current good run has put the crypto in a position to challenge Wrapped Bitcoin (WBTC) and Avalanche (AVAX) in terms of total market capitalization. BNB coin has also shown its strength, with its price remaining pretty stable over the past 30 days. As things stand, the price over the past 30 days is almost identical, while in the pastseven days, there has been a slight slippage of around 4% in the value. Although the currency has reached as high as $246.68 and as low as $184.54 in the past month, BNB has largely managed to stay within its current range of $215-$235 and has performed considerably better than both Bitcoin (BTC) and Ethereum (ETH) during this time. While we wait to see what happens with crypto in the immediate future, the signs are there that the tide could be turning with the market seeing more stability now than it has in the previous months. To buy your SILVA tokens or learn more about GorilixDEFI, visit https://gorilix.io. To register for the presale: https://cabinet.gorilix.io/sign-up To join Gorilix on Telegram, Twitter & Instagram: https://linktr.ee/Gorilix Disclaimer: This is a sponsored pressrelease andis 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.
29 days agocryptodaily
Celsius Unlocks 400,000 stETH, Pays Off Debt To Aave
Celsius, the crypto lending firm which has recently been the subject of regulatory oversight for its operational failures due to insufficient liquidity, has confirmed that it has paid up 400,000 stETH (Lido Staked ETH) to Aave, another DeFi lending protocol. In addition, Celsius has also confirmed that they still have an outstanding balance of 10,000.94 wBTC to DeFi protocol Compound. This equates to roughly $199 million based on current pricing. Celsius has also disclosed that it has managed to unlock and shut down its MakerDAO vault which was worth roughly $456 million, with 21,962 wBTC in position recovered. The firm has been steadily easing off its positions from the DeFi space, in what has been considered as initiatives towards dealing with its ongoing liquidity crisis. According to on-chain data, an associated wallet with Celsius Network has repaid most of its debt to Aave by sending some $63.5 million in USDC to the lending protocol, hence unlocking the 400,000 of stETH, which is now worth roughly $418 million. For its debt to Compound, Celsius Network unlocked 350,020 UNI ($2 million) and 529,94 COMP ($25,600), redeeming 300,000 xSUSHI for 395,060.92 SUSHI ($458,200) from SushiSwap, a decentralized exchange. According to data from DeBank, Celsius still has another $27 million in LINK, stETH and SNX remaining locked on Aave's DeFi vault. To unlock these, Celsius would be required to shell out between $8.5 million to $50 million for each to be unlocked. It has not been ascertained whether Celsius' other private wallets have more DeFi debt, but the case remains open for public scrutiny. Celsius' liquidity crisis began during what it has called "extreme market conditions," with Bitcoin sliding off well below the $20,000 level and affecting the entire crypto industry to an extent that the industry, as a whole, has lost over $1 trillion in market capitalization in the span of a month or so. The firm has been the subject of controversy after it paused customer withdrawals in June, explaining that the move was necessary to leverage time and place itself into a "better position to honor, over time, its withdrawal obligations."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.
34 days agocointelegraph
Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried?
The crypto community is concerned that the transfer could lead to the dumping of more than $500 million Bitcoin into the market.
34 days agocoindesk
Celsius Sends $500M of Bitcoin Derivative to Crypto Exchange After Debt Payoff
The move comes just after the crypto lender reclaimed 22,000 WBTC as collateral of its loan on DeFi lending protocol Maker, blockchain data shows.
37 days agocryptodaily
Celsius Repays $120M Maker Debt
Celsius Network has paid another $120 million of its Bitcoin loan to Maker DAO through several DAI transactions. $120 Million Debt Repaid Although either party has not confirmed the news, the $120 million payment was made to multi-collateral Dai vault #25977 in a series of three transactions between July 3 and 4, 2022. Even though Celsius has not admitted that it owns the specific vault in question, it is a widely accepted fact in the community. The three transactions in question involved 64 million DAI, 50 million DAI, and 6.2 million DAI. Since DAI is a stablecoin, pegged to the value of the dollar, these transactions can be summed up to a total of roughly $120 million. Maker is the DeFi protocol behind the DAI stablecoin. Celsius’s Solvency Problems Other than these three payments, a previous amount of $22.6 million was also made to the same vault on July 1 and $53.7 million was paid between June 14 and June 16, 2022. Other than its Maker debts, Celsius has several other obligations in crypto and DeFi contracts. Since Vault #25977 used Wrapped Bitcoin (wBTC) as collateral, the threat of liquidation always looms over its head, especially when the price of BTC starts dropping. The vault stands to be liquidated if the BTC falls below a certain price benchmark. Because of its debts with several entities, the vault’s liquidation price back on June 13 was around $17k. June was also the month when BTC prices dropped dangerously low, teetering below the $20K mark. Therefore, the liquidation price of the vault swerved pretty close to Bitcoin’s price and was at risk of forcible liquidation. In fact, it even forced the firm to suspend withdrawals for a while, which unfortunately contributed further to the drop in prices of BTC, ETH, and other leading cryptos. Focusing On Debt Repayments However, the debt repayments have improved the firm’s liquidation price, dropping to a much lower value of around $5K, creating more room for BTC prices to fluctuate without the threat of liquidation. In fact, experts believe that large debt repayments could address Celius’s solvency issues. The firm has been exploring several avenues to recover its position, even hiring lawyers, who advised declaring bankruptcy. Luckily, the firm’s leading executives vetoed that idea and instead chose to focus on buying more time to address the liquidity issues. Instead, investors were asked to avoid the bankruptcy option by selecting “HODL mode” on the Celsius app. 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.
42 days agocryptodaily
MakerDAO Votes To Allocate $500M Into Minimal Risk Bonds And Treasuries
MakerDAO, the decentralized autonomous organization (DAO) behind the DAI stablecoin, is voting on how to allocate $500 million in treasury funds. The proposal is aimed at helping the organization navigate the ongoing bear market through investments in United States treasuries and bonds. Navigating The Bear Market The MakerDAO proposal is intended to help the organization weather the bear market and use its untapped reserves. The plan is to invest 500 million DAI stablecoins into a mixture of United states treasuries and bonds. Members of the decentralized autonomous organization (DAO) now have to decide if the dormant DAI funds must be allocated entirely to short-term treasuries or split 80% into treasuries and the remaining 20% into corporate bonds. MakerDAO took to Twitter to make the announcement about the vote, stating, “The Maker Governance votes to determine how to allocate 500 million DAI between different investment strategies. This allocation poll is a result of the passage of MIP65: Monetalis Clydesdale: Liquid Bond Strategy & Execution.” The thread also explained how the entire process would work. Expanding Beyond The Crypto Space MakerDAO is the governance entity of the Maker Protocol, which issues the DAI stablecoin in exchange for ETH, Wrapped Bitcoin (wBTC), and a host of other cryptocurrencies. The proposal is significant for MakerDAO as it outlines the protocol’s intention to step out of the shadow of the crypto realm and earn yield from traditional and so-called “safe” investments using its DAI stablecoin. The maker community also seems to be heavily favoring the splitting of the DAI between the treasuries and bonds option, which has so far received 99.3% of the votes, albeit these votes have come from just 12 voters so far. Currently, governance participation on Maker is at its lowest levels during the ongoing year, with only 169,196 MKR staked. Doo, one of the largest delegates in the MakerDAO ecosystem, voted for the 80/20 split allocation, reasoning that the allocation in treasuries and corporate bonds would be beneficial for the protocol in the long run for a host of reasons. They also cited its recent exposure to traditional financial institutions and learning how to navigate the ongoing bear markets. Doo stated, “As TradFi is seeing interest rate increase due to the FED. Maker protocol working with TradFi to take advantage of the high interest would be able to strengthen its revenue model.” After The Voting Ends The poll ends on the 30th of July 2022 at 12:00 pm EST. Once the users have selected an option, Monetalis, European wholesale lender, will give MakerDAO access to the financial instruments needed. Allan Pedersen, CEO of Monetalis, had put the Signal Request in the forum, listing the options that the firm could provide. MakerDAO has decided to invest significant funds after members recommended that deploying the unused funds in such a capacity would significantly boost the protocol’s bottom line while incurring minimal risk. Sebastien Derivaux had, in an assessment of the feasibility of the allocation, stated that while the amount being committed was significantly high, it was a safe choice. “An investment of 500M DAI in this context, that is expected to remain liquid and low volatility is therefore not a significant risk for the DAI peg nor the solvency of MakerDAO.” 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.
48 days agocryptodaily
Hackers Steal $100M In Harmony Horizon Bridge Exploit
Harmony’s cross-chain protocol, the Horizon Bridge, has been hacked, leading to a loss of funds of around $100 million. Stolen Altcoins Swapped For ETH Earlier today, the Horizon Bridge, which facilitates token transfers between Harmony and the Ethereum network, Binance Chain and Bitcoin, was targeted by hackers. They conducted a series of eleven transactions that siphoned off various altcoins. The tokens were then sent to a different wallet, from which they were swapped for Ether (ETH) on the Uniswap decentralized exchange (DEX). Around $100 million worth of funds were stolen through altcoins like Frax (FRAX), Wrapped Ether (wETH), Aave (AAVE), SushiSwap (SUSHI), Frax Share (FXS), AAG (AAG), Binance USD (BUSD), Dai (DAI), Tether (USDT), Wrapped BTC (wBTC), and USD Coin (USDC). The news broke when the Harmony team tweeted about it this morning, “The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.” Team Discloses Initial Info According to the statements from the Harmoney team, the hack will not affect the trustless BTC bridge and the funds and assets stored in the decentralized vaults. The team has also identified the wallet, which was responsible for swapping the stolen tokens for ETH, and has disclosed the address on Twitter. They also announced that necessary actions have been taken to prevent further transactions by notifying exchanges and pausing the Horizon bridge. Finally, the team also announced that it is closely working with national authorities and forensic specialists to identify the culprits behind the hack and will soon disclose a post-mortem report. Multisig Concerns Valid The community had previously raised concerns about the stability of the bridge’s multisig wallet on Ethereum. Reportedly only two of the four multisigs secured the bridge, indicating that two signees were enough to move funds away. An industry expert had even pointed this out on Twitter back in April, saying that the low number of required signers leaves the bridge vulnerable to a significant hack. The fact that the bridge was actually exploited only vindicates these concerns that were raised months ago. Multisigs have been posing serious security threats. For example, Axie Infinity’s Ronin Bridge was hacked when hackers took control of the required five out of the nine validators and stole over $600 million in assets. Another cross-chain protocol, Wormhole, was also attacked when the hackers exploited a vulnerability in the bridge. 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.
48 days agocryptopotato
Harmony Bridge Hacked, $100 Million Worth of Ethereum Lost
A variety of tokens were stolen using this exploit, ranging from wBTC and wETH to AAVE, FRAX, and several stablecoins among other tokens.
107 days agocointelegraph
How to store Bitcoin on MetaMask?
Only Wrapped Bitcoin (wBTC) can be stored on MetaMask as this wallet supports Ethereum-enabled distributed applications specifically.
168 days agocointelegraph
NFTs most popular assets on Ethereum, but Wrapped Bitcoin growth stalls
NFTs have increased their lead over stablecoins and ERC-20 tokens in transfers on the Ethereum network since last July, while WBTC minted on chain has leveled off this month.
195 days agocryptosrus
BREAKING: El Salvador Banks Are Using Wrapped Bitcoin on Algorand To Transact
Recent reports indicate Algorand is truly underpinning the entire Bitcoin experiment in El Salvador. We have the details. Covered: Koinbanx, Algorand, and El Salvador Chivo Wallet And Lightning Network Koinbanx, Algorand, and El Salvador Koibanx is the Latin American fintech firm running on top of Algorand’s Layer-1 that signed a landmark deal with the El […] The post BREAKING: El Salvador Banks Are Using Wrapped Bitcoin on Algorand To Transact appeared first on CryptosRus.
324 days agobitcoinexchangeguide
Avalanche-based Vee Finance Lures Attacker with a Bounty Program, PNetwork Offers $1.5 Mln to Retrieve Stolen WBTC
VEE token dropped 46.3% to its lowest low after putting in a new ATH just three days back. Down 72% from its peak, PNT recorded a 27.5% drop in its price following the attack. The post Avalanche-based Vee Finance Lures Attacker with a Bounty Program, PNetwork Offers .5 Mln to Retrieve Stolen WBTC first appeared on BitcoinExchangeGuide.
347 days agocointelegraph
Cosmos (ATOM) rallies after launching a cross-chain bridge and wrapped Bitcoin
ATOM price booked triple-digit gains after the network built out its DeFi ecosystem and works on cross-chain bridges for ETH and BTC.

About Wrapped Bitcoin

The live price of Wrapped Bitcoin (WBTC) today is 24,503.20 USD, and with the current circulating supply of Wrapped Bitcoin at 244,265.88 WBTC, its market capitalization stands at 5,985,294,762 USD. In the last 24 hours WBTC price has moved 794.17 USD or 0.03% while 83,077,440 USD worth of WBTC has been traded on various exchanges. The current valuation of WBTC puts it at #19 in cryptocurrency rankings based on market capitalization.

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

Wrapped Bitcoin (WBTC) is the first token backed 1:1 with Bitcoin.
Wrapped Bitcoin Price24,503.20 USD
Market Rank#19
Market Cap5,985,294,762 USD
24h Volume98,307,508 USD
Circulating Supply244,265.88 WBTC
Max Supply119,893 WBTC
Yesterday's Market Cap5,835,012,000 USD
Yesterday's Open / Close23,124.12 USD / 23,918.29 USD
Yesterday's High / Low24,134.97 USD / 22,768.38 USD
Yesterday's Change
0.03% ( 794.17 USD )
Yesterday's Volume83,077,440 USD
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