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Popular Defi Protocol ThorChain Suspended Operations Because Of 4,000 Ethereum Hack

Mark Brennan
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Popular Defi Protocol ThorChain Suspended Operations Because Of 4,000 Ethereum Hack

The THORChain protocol lost an estimated $4.9 million in Ethereum due to a hacker attack. To eliminate the consequences of the incident, all operations on the THORChain were suspended based on the consensus of the nodes.



DeFi project THORChain is a popular DEX that allows you to exchange assets in a decentralized environment.

Earlier, the project team reported that attackers withdrew 13,000 ETH from the protocol (24.76 million at the time of writing). Then later the team announced that hacker stole 4000 ETH ($ 7.62 million).

 

According to the data collected by the community, the damage was less than $5 million.

 

The project team promised to inform community with complete details once they found out what happened. . At the moment it seems that attackers were able to “trick” the Befrost service, which is responsible for connecting nodes to blockchains and releasing witness transactions.

ETH Bifrost was tricked using a custom wrapper to read a deposit amount of 200 when it was actually zero. More details will be provided in the upcoming post mortem blog.



 

Project CTO Chad Barraford said the THORChain team had already found a bug in the codebase and made a proposal to improve the protocol. If the community approves the changes, the developers will implement the patch and resume online operations within 24 hours .

 

The project team noted that the THORChain reserve fund will have sufficient funds to cover losses of Ethereum liquidity providers. However, the developers asked the Hackers to contact them to discuss the return of funds and the payment of an adequate reward for the discovery of the vulnerability.

 

World-Famous Brand Of Men’s Deodorants AXE Announced The Launch Of Its New Product Dogecan

Jakkk
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World-Famous Brand Of Men’s Deodorants AXE Announced The Launch Of Its New Product Dogecan

With an innovative tweet, AXE , a world-famous men’s deodorants brand caught the attention of the Doge  community.



Deodorant AX has launched a new brand, Dogecan, which is trending on Twitter.

 

Men’s deodorant brand Dogecan has used the Twitter hashtag #Dogecan to announce the launch of its new products. The release date for the new brand is said to be, 7.20.21.

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The tweet went viral immediately and basically served as free advertising for AXE. Numerous Twitter users responded to the messages, including Billy Marcus, the creator of the Dogecoin.

 

Recently on July 13th AXE  announced that new product, DogeCan was coming soon.

 

This is not the first time AXE shows sympathy for the Doge Coin. Similar messages have been published previously by the official account of AXE supporting Dogecoin.



AXE also joined the Dogecoin birthday party along with Snickers, and Milky Way.

 

Scott Conger, Mayor of Jackson City Plans To Accept Bitcoin For Tax Payments And Consider BTC As Fix For Inflation

Mark Brennan
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Scott Conger, Mayor of Jackson City Plans To Accept Bitcoin For Tax Payments And Consider BTC As Fix For Inflation

Scott Conger, Mayor of Jackson (City of Tennessee State), is determined to make Jackson a major crypto hub.

Read: Microstrategy CEO Michael Saylor: “Bitcoin Is Big Tech Network Without Company”


 

Mayor Scott Conger announced Friday that Jackson, Tennessee eighth largest city, will allow citizens to pay property taxes using bitcoin.

He said:

“Our blockchain task force is looking into how the City of JacksonTN can accept property tax payments in bitcoin and allow our employees to DCA in Bitcoin.”

 

A blockchain task force will also calculate the dollar-cost average of BTC.

Read: Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity

Mayor Scott Conger also tweeted his concerns over the falling dollar value, increasing inflation and accepting BTC as fix for Inflation.

“Why do we accept inflation? Why don’t we demand more from our federal government? 6.3% in 2 years. 172.8% in my lifetime. Every year our dollar is worth less. There is no rebound. There is only 1 fix for this. Bitcoin.”

 

Conger announced his plans to integrate Bitcoin into Jackson’s economy back in April. Conger also created a task force on blockchain in April.

Read: Twitter And Square CEO Jack Dorsey Confirms Square Is Building a Bitcoin Hard Wallet

Conger followed Francis Suarez (the mayor of Miami), who presented a proposal to collect taxes and pay municipal workers in bitcoins earlier in the year.

Read: Apple Co-Founder, Steve Wozniak: “Bitcoin Is The Most Amazing Mathematical Miracle”

Recently Senator, Cynthia Lummis from Miami called Bitcoin Is Great For Retirement And Long-Term Savings. (Read More).



Senator, Cynthia Lummis also Invited Bitcoin Miners, Saying Don’t Judge Bitcoin Mining As Energy Bad. (Read More).

She said:

“DON’T JUDGE BITCOIN MINING AS AN ENERGY BAD GUY, THERE’S A LOT OF INNOVATION GOING ON THAT PROVES OTHERWISE.”

The Senator tweeted:

“IF YOU ARE IN THE BITCOIN MINING SPACE, PLEASE REACH OUT. WE WANT YOU IN WYOMING”.

Other than Tennessee and Florida, Texas as well as Wyoming are trying to become major crypto hubs.

Microstrategy CEO Michael Saylor: “Bitcoin Is Big Tech Network Without Company”

Albert Brown
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Microstrategy CEO Michael Saylor: “Bitcoin Is Big Tech Network Without Company”

Microstrategy CEO Michael Saylor called Bitcoin big technology but without any company. Microstrategy currently holds 105,085 BTC. Michael Saylor is among the big names that are long term and hardcore support of Bitcoin, just like Twitter CEO Jack Dorsey.

Read: Twitter And Square CEO Jack Dorsey Confirms Square Is Building a Bitcoin Hard Wallet


Michael Saylor shared his thoughts with Natalie Brunell, who host the Coin Stories podcast.

Michael Saylor said that Bitcoin is similar to big tech technology but without the involvement of any company. He compared Bitcoin with top companies like Google, Facebook or Apple.

He said:

“You would like to have a big tech network that has all the dominance of Apple or Google or Facebook but without the company attached. So Bitcoin is Big Tech without the company.” 

 

Saylor is a passionate supporter of Bitcoin and has invested billions in it. However, he does not view it just as an investment opportunity. He stated:

“I found Bitcoin because I had a problem, and the traditional solution didn’t look like a solution anymore.”

Read: Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity

The Bitcoin Lover has repeatedly emphasized the fact that BTC is a better form of money. 

He said:

“Bitcoin allows users to have the huge tech network they desire, with all the dominance of Google or Facebook or Apple but no company attached. What you get is a pure big tech network. “

“THE  PRODUCT Of BITCOIN IS ONLY BITCOIN”

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Saylor: I Will Not Sell Bitcoin

In the same interview with Natalie Brunell, Coin Stories, Michael Saylor says he isn’t forced to sell his Bitcoin or his company MicroStrategy BTC holdings.

He said I wouldn’t be forced to sell BTC no matter how low bitcoin prices go.

The CEO discussed the possible consequences if BTC’s price falls below MicroStrategy’s average entry point; Saylor clearly stated that he would not feel pressured to sell even a single BTC if this happens.

Read: Apple Co-Founder, Steve Wozniak: “Bitcoin Is The Most Amazing Mathematical Miracle”

 Saylor compared Bitcoin to electricity and fire.

“It took the human race 100,000 years to understand fire. It was a slow process. It took humanity around 20-30 years to figure out electricity, But BTC will not take 30 years. I believe information spreads faster, but it could take another decade.”


Bitcoin Can Make You Wealthy

He gave several examples of how Google, Amazon and Facebook have made their creators the wealthiest people in the world.

He gave his formula of becoming rich:

“If you want to get rich, your only hope is to create an asset that is going to appreciate by a factor of 100 or to buy an asset that is going to appreciate by a factor of 100.”

Read: Grayscale Going For Bitcoin Exchange Traded Fund (ETF)

Saylor and his company Microstrategy have been the subject of numerous headlines. They have always backed Bitcoin and BTC benefits as a mode of payment. 

 

Italy Becomes The 7th Country To Issue A Regulatory Alert Against Binance

Mark Brennan
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Italy Becomes The 7th Country To Issue A Regulatory Alert Against Binance

According to the market watchdog of Italy, Binance cannot operate in Italy. This is part of a string of global regulations against top cryptocurrency exchange.


Italy is now part of the simultaneous global crackdown on the cryptocurrency exchange Binance. In recent weeks, Binance has been on the radar of Canada, Japan and the United Kingdom as well as Thailand, Poland, and most recently Malta.

Binance is the most popular cryptocurrency exchange by trading volume, website visitors and customer base. It provides crypto services to millions worldwide. It is however being hampered by seven regulatory warnings from seven countries.

The FSA of Japan was the first to issue a compliance notice against the world’s largest exchange. It was followed by Canada, Singapore, Thailand, the United Kingdom and Canada. UK FCA has advised investors and companies not to use Binance because it is illegal in the country. The Thai SEC opened a contempt case against Binance for operating without a license.



Binance’s regulatory crackdown comes at an important time as cryptocurrency popularity has grown and regulators have become more urgent to crack down on crypto related business. Regulations Compatible crypto exchanges joined the party after their slow start. With regulatory approval, Binance’s rival Coinbase opened new markets in Japan and Germany, while FTX became the third-largest spot exchange.

Vexchange, The First DEX On Vechain Thor Brings Uniswap V2 Functionality To Vechain

Mark Brennan
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Vexchange, The First DEX On Vechain Thor Brings Uniswap V2 Functionality To Vechain

Vexchange, the first VeChain DEX, has launched Vexchange 2. Vexchange 2 utilizes a new Sync2 technology, which allows users to quickly access DEX, and opens the door for DeFi on VeChain.

Read: WAIC Officially Indexed VeTrust as “Innovative Frontrunner of Blockchain Application 2021


 

Vexchange brings the highly-acclaimed Uniswap V2 functionality to Vechain through Vexchange V2. Vexchange V2 is an upgrade similar to Uniswap V2 which brings many new features.

Read: Vechain And Shopping.Io Became Partners To Enable Vechain Holders To Shop On Amazon, Ebay, Walmart And Etsy Using VET Token

Vexchange has existed for 2.5 years. Vexchange launched vtho.exchange in its first year. After successful vtho.exchange, Vexchange team launched Vexchange which was a fork of Uniswap v1, and now Vexchange 2.0 which is a fork of Uniswap v2.

Vexchange has been supported by the Vechain Foundation, the Vechain community and others.

Vexchange V1 was a proof-of-concept for a decentralized marketplace. Vexchange is a decentralized exchange that provides integrated automated liquidity provisioning via VeChain. Vexchange operates without storing VIP180 token conversion. Vexchange V1 will continue working along with Vexchange V2. 

Though it is good accomplishment for Vexchange and Vechain but the community insist to to get Vexchange V2 MetaMask compatible as soon as possible.

Read: Vechain Real World Transactions: 20K+ Enterprise NFT Transactions And Over 50K Transactions For The San Marino Digital Covid Certificates

Vexchange V2 is packed with many new features and improvements, some of them are:

  • VIP180 / VIP180 Pairs

In Vexchange V2, any VIP180 token can be pooled directly with any other VIP180 token. Wrapped VET (WVET) is used instead of native VET in the core contracts, although end users can still use VET through helper contracts.

  • Variable Swap and Platform Fee

Vexchange V2 has the ability to adjust swap fees up and down through governance. Swap fees can be set from 0.05% to 2%, and platform fee can be up to 50%.

Read: San Marino Approves Vechain Powered National Digital Vaccination Passports And Why It Matters?


  • Price Oracles

Vexchange V2 implements Price Oracles that enables highly decentralized and manipulation-resistant on-chain price feeds.

  • Flash Swaps

Vexchange V2 flash swaps allow you to withdraw as much as you want of any VIP180 token on Vexchange at no upfront cost.

For more details visit: Vexchange 2 Introduction

Alonzo White Testnet Hardfork Successful, Another Milestone Achieved By IOHK That Brings Cardano More Closer To Smart Contracts

Mark Brennan
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Alonzo White Testnet Hardfork Successful, Another Milestone Achieved By IOHK That Brings Cardano More Closer To Smart Contracts

According to the announcement made by Input Output Hong Kong (IOHK), Cardano has officially entered the implementation phase of the Alonzo White smart contract. IOHK successfully forked the Alonzo testnet to the new Alonzo White node.

Read: Save The Children In Rwanda And Cardano Foundation Become Partners To Launch ADA Crypto Charity Platform


 

At this stage, it will significantly increase the number of testers and add more functionality. As reported before, Cardano launched Alonzo Blue, the first testnet in late May.

Read: Cardano Milestones: Why Cardano Is In High Demand And Popular Choice Of Retail And Institution Investors

IOHK writes:

“Delighted to report around 19.44 UTC today we successfully forked the Alonzo testnet to the new Alonzo White node. The new network is happily making blocks already.

Over the past week, we have spun up a new network and on boarded our new intake ready to help us move us closer to smart contracts. Now the next stage of the journey begins.

As well as our core SPO group, we’re now joined by members of the Project Catalyst crew and more Plutus partners. Plus a few more Pioneers to move us forward before opening up further. You can hear more about the journey in our mid-month update – landing Friday.

Read: Top Crypto Analyst Highlighted Main Point That Could Push Cardano To Reach $5 By 2022

We’ll monitor the new network closely over the next 24 hours while continuing to do further QA work on the node tonight. We’ll then review any feedback/results tomorrow and start addressing any required fixes. We expect a number of updates as we add features to Alonzo White.

Thanks as ever to all our Alonzo testnet volunteers helping us on the journey to Cardano smart contracts! Onwards.”



After the White Era, Alonzo will become fully public during the Purple Phase, which means it will become available to all SPOs and pioneers. Alonzo highly anticipated hard fork is expected to roll out online in early September. It will bring smart contracts to cardano blockchain and end the Goguen era.

By Alonzo Cardano will be able to gain a foothold in the decentralized finance (DeFi), Non fungible tokens (NFT) and compete with Ethereum, Binance Smart Chain (BSC) and Solana.

 

Ransomware Giant REvil Disappeared From Darknet, After Attacking 1,500+ US Businesses, Demanding $70 Million In BTC, But Who Made Them Run?

Mark Brennan
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Ransomware Giant REvil Disappeared From Darknet, After Attacking 1,500+ US Businesses, Demanding $70 Million In BTC, But Who Made Them Run?

On July 13, the  REvil darknet websites suddenly went offline reported by the New York Times.


REvil’s infrastructure and websites went offline, including its data leak sites, less than two weeks after attacking 1,500+ businesses with ransomware via Kaseya, Russia Hacking Gang REvil Demanded $70 Million Bitcoin Ransom.

 

Disabled resources include the Happy Blog, which is public blog used to publish victims data, as well as sites for discussing the ransom amount and accepting payments.

The Question Is Who Made Them Run?

Just days after President Biden called on Russian President Vladimir V. Putin to shut down ransomware groups attacking American Businesses, the most aggressive of the groups (REvil) suddenly shut down early Tuesday morning.

There were three main reasons why Reville suddenly disappeared.

First, Mr. Biden ordered the United States Cyber ​​Command, which works with national law enforcement agencies, including the FBI, to take down the REvil sites.

The second reason is that Mr. Putin ordered to take down group sites. If so, it would be a nice gesture in response to Mr. Biden’s warning.

A third theory is that REvil decided that the heat was too intense and removed the websites themselves to avoid crossfire between the American and Russian presidents.

But the Companies will suffer the most from the closure of REvil Dark net sites, which without contact with REvil will lose the ability to recover their encrypted data and would be forced to close businesses.



Experts consider REvil, also known as Sodinokibi, one of the largest hacking groups in the world. According to the American intelligence services, cyber fraudsters carry out at least 15 attacks every month. In 2020, their ransom ware earnings exceeded $ 100 million.

In May, the world’s largest meat processing company, JBS, fell victim to REvil. They paid a ransom of $11 million in Bitcoin.

Save The Children In Rwanda And Cardano Foundation Become Partners To Launch ADA Crypto Charity Platform

Mark Brennan
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Save The Children In Rwanda And Cardano Foundation Become Partners To Launch ADA Crypto Charity Platform

After announcing a partnership agreement with the Cardano Foundation, Save the Children in Rwanda became the latest NGO to support cryptocurrency.


According to a statement, the partnership was possible because Cardano “installed a Payment Gateway that allows ADA donations directly to the project without intermediaries.” The funds will then be “invested into social enterprises in Africa with a proven impact on children, families, and youth.”

 

After the announcement nearly 22,000 ADA (worth nearly $ 30,000) have been donated to the system in the first hour of its launch.

Maggie Korde, Save the Children’s Country Director in Rwanda, said:

“Through Cardano, Save the Children in Rwanda now has a starter pot of the cryptocurrency ADA which we can deploy to projects for children. But there are also countless possibilities through blockchain to firstly directly impact children’s lives through initiatives such as digital school records and secondly to increase our efficiency and transparency as an organization.”

Senior Advisor at Save the Children, Ettore Rossetti said:

“Beyond cryptocurrency contributions, what if blockchain technology could be used to make supply chains more efficient, transactions more transparent and end world poverty through decentralized universal basic income as a form of unconditional cash vouchers? That would be a dream worth holding onto. Since our founding more than 100 years ago, Save the Children has reached more than 1 billion children. Perhaps the next Bitcoin billionaire can help us reach the next billion children.”



Chief Growth Officer at the Cardano Foundation, Eva Oberholzer, said:

“People are often confused by cryptocurrency and baffled by blockchain. Through this pilot with the Kumwe Hub, we aim to demonstrate the power of decentralized finance (DeFi) and the global community when applied to supporting projects outside of the world of financial services and token trading.”

The Cardano Foundation announced in March 2021 that it would delegate over $500 million to community-driven stake pools within its network, this money will be used to fund more than 100 charities around the globe. These funds have received $270 million since then as charities and Save the Children is one of the key beneficiaries.

John McAfee Widow Releases McAfee “Suicide Note” But Slams It As Suspicious

Mark Brennan
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John McAfee Widow Releases McAfee “Suicide Note” But Slams It As Suspicious

Janice McAfee the widow of John McAfee and has released a suicide letter allegedly written by the late antivirus expert (John McAfee). 


Janice McAfee writes:

“Here is the alleged suicide note found in John’s pocket. This note does not sound anything like someone who has no hope and is contemplating ending their life. This note sounds like one of John’s tweets.”

John McAfee suicide note says:

“I am a Phantom Parasite. The present moments (?) I use it to attain my own ends, Instead of fully living it. I want to control my future, which does not exist; -by using the present and the past as the controller- through the knowledge -of my past- which are mere ashes of memory. But the here and the now are beyond the control of any and all real truth, and truth is immutable.

Read: John McAfee Widow Blames U.S. for Her Husband Death

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In a separate tweet, Janice McAfee raised questions about the note and doubted its authenticity.

She Said:

“The handwriting is suspicious & I doubt the authenticity of the note. It reads more like someone trying to imitate John’s style of tweeting. And if this note was found in his pocket where are the markings of the note being folded into his pocket?”

 

Janice McAfee had previously mentioned that she called her husband by phone the day before he was found dead, and he didn’t appear suicidal.

Previously She also said the media announced a certain “suicide note” in John pocket, that was not mentioned before, when she took McAfee’s things from prison.

Read: John Mcafee Widow: I Do Not Accept The “Suicide Story” That Has Been Spread By The Main Stream Media

She said:

“NOW IT IS BEING CONVENIENTLY REPORTED THAT THERE WAS A SUICIDE NOTE FOUND IN HIS POCKET, SOMETHING THAT WAS NOT MENTIONED WHEN I COLLECTED JOHN BELONGINGS FROM THE PRISON AND ANOTHER PIECE OF INFORMATION THAT MEDIA SOMEHOW GOT HOLD OF BEFORE MYSELF AND JOHN ATTORNEY.”



In October 2020, the John McAfee was arrested in Barcelona. At that time He claimed that his arrest was politically motivated because he considers taxation illegal. McAfee was found dead in his cell hours after the Spanish authorities announced verdict on McAfee extradition to the United States. According to Spanish authorities, an autopsy has shown that McAfee had committed suicide.

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