The post Bitcoin Price Updates, SEC Charges on Mango Markets, and Tornado Cash Developer’s Trial appeared on BitcoinEthereumNews.com.

The ever-evolving landscape of cryptocurrency brings daily updates on Bitcoin prices, blockchain technology, decentralized finance (DeFi), NFTs, Web3, and regulatory impacts. The U.S. Securities and Exchange Commission (SEC) has reached a settlement with Mango Markets operators. Crypto restaking protocol Bedrock extended a job offer to a hacker who compromised $2 million from its uniBTC vaults, and Tornado Cash developer Roman Storm is preparing for a December trial after a failed motion to dismiss. Discover the latest happenings in the crypto world, from SEC settlements and hacker rehabilitations to impending trials. SEC Settles Charges with Mango Operators The U.S. SEC has filed and settled charges against Mango DAO and Blockworks Foundation for the unregistered offer and sale of MNGO tokens. On September 27, the entities were accused of raising over $70 million from both local and international investors without proper registration. The settlement includes a $700K civil penalty, destruction of remaining Mango tokens, and a formal petition for market holders to delist the coins. Impact on Market and Future Implications This settlement marks a significant regulatory move, focusing on the legal compliance of decentralized autonomous organizations (DAOs) in token issuance. This highlights an escalating vigilance from regulatory bodies on cryptocurrency practices, pushing for transparency and adherence to legal standards to safeguard investors. Hacker Receives Job Offer from Bedrock In an unconventional move, Bedrock’s crypto liquid restaking protocol chose to offer a bounty reward and a white hat position to the hacker who exploited their system, resulting in a $2 million loss. Web3 security firm Dedaub identified a vulnerability in Bedrock’s uniBTC vaults that could have potential losses extending up to $75 million. Bedrock’s response emphasized securing existing funds and plans to resume staking operations once the identified vulnerability is adequately addressed. Security Protocols and Hacker Rehabilitation By embracing the hacker, Bedrock…

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Filed under: News - @ September 27, 2024 11:22 pm