A lot of tension in the crypto market in the last few hours, Binance’s CZ faces the possibility of staying in the US until his hearing.
US prosecutors have requested that Changpeng Zhao, former CEO of Binance, not leave the country before his sentencing hearing scheduled for February 2024. This request comes after Zhao admitted his guilt on Tuesday for failing to implement an effective anti-fraud program. money laundering on Binance.
At Wednesday’s hearing, prosecutors argued that there is a “substantial risk of flight.” Calculating Zhao’s considerable wealth outside the United States and his seemingly minimal ties to the country.
FTX’s SBF Won’t Get Bail
The Court of Appeal has rejected SBF’s request for release on bail. This decision is based on his failure to comply with the conditions established during his previous conditional release. Which led the judge to order his return to prison. A forceful reminder of the importance of strictly adhering to the terms of probation.
Despite SBF’s claim that its First Amendment rights have not been adequately considered, the judge refutes this claim, ensuring that he has been “exceptionally aware” of the accused’s rights.
HTX Announces Resumption of Operations after Suffering a USD 13.6 Million Hack
Cryptocurrency exchange HTX, previously known as Huobi Global, has confirmed that it will resume deposits and withdrawals in the next 24 hours. This, after suffering a USD 13.6 million exploit on November 22.
In its official statement, the exchange assured users that it will “fully compensate for losses caused by this attack and guarantee 100% security of funds.” The developers stressed that the lost amount represents a minimal fraction of the platform’s total funds, highlighting that “normal operations” were not affected.
KyberSwap Reports Cyber Attack: More Than USD 45 Million in Cryptocurrencies
In another blow to the security of the crypto ecosystem, decentralized exchange protocol KyberSwap has been the target of a sophisticated cyber-attack that resulted in the loss of more than $45 million in cryptocurrency.
The Kyber Network team will confirm the situation through a statement. Likewise, it advised users to urgently withdraw their funds to mitigate possible damage.
On November 22, KyberSwap announced the situation via X:
“Dear KyberSwap Elastic Users,
We regret to inform you that KyberSwap Elastic has experienced a security incident.
As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investigating the situation, and we commit to keeping you informed with regular updates.
Thank you for your understanding and cooperation during this challenging time.”
Despite the setback, the team reassured the community by stating that the KyberSwap aggregator continues to operate normally and has not been affected by the incident. Although the underlying cause of the attack has not yet been revealed.
The Eighth Most Expensive Bitcoin Transaction in History
A Bitcoin user has made an unprecedented transaction by paying a staggering 83.7 BTC, a staggering $3.1 million, in fees for transferring 139.42 BTC. This episode ranks among the most expensive events in Bitcoin’s 14-year history, ranking as the eighth highest transaction fee. The issuing address attempted to make the transfer on November 23, but ended up paying more than half of the total value in fees.
By Leonardo Perez