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22 September 2020

Blockchain Bites: Big Bitcoin Bets, SushiSwap Drops, bZx Attacked - CoinDesk

Blockchain Bites: Big Bitcoin Bets, SushiSwap Drops, bZx Attacked - CoinDesk

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On Sunday, an unnamed attacker apparently tricked bZx into minting iTokens, an interest-earning token that allows users to redeem crypto in the protocol’s lending pools, cashing them out for nearly 220,000 LINK tokens, 4,507 ETH, 1.76 million USDT, 1.4 million USDC and 670,000 DAI, CoinDesk’s Paddy Baker reports.

bZx co-founder Kyle Kistner said the drained funds will be covered by the protocol’s insurance fund, pending community ratification. .

In a late breaking twist, a spokesperson said bZx was able to track down the attacker using his or her on-chain activity and that the funds were returned as soon as that person was exposed. .

Prosecutors have charged a Washington, D.C., man with running a crypto-backed diamond investment ponzi scheme. Jose Angel Aman was charged with wire fraud on Friday for his alleged role in soliciting $25 million from hundreds of investors to fund a scheme where he and his cadres promised to buy and flip diamonds.

Big bitcoin bets Hundreds of derivatives investors are betting bitcoin will rally to $36,000 by the end of 2020.

Over the weekend, crypto derivatives exchange Deribit saw a rise in call options (bullish bets) with $36,000 and $32,000 strike prices that expire Dec.

Bitcoin correlations Bitcoin’s correlation with gold is now at an all-time high, though this may not help us understand what “digital gold” really is any better

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