The post BlockchainReporter Weekly Crypto News Review: Exciting Developments Unfolded appeared on BitcoinEthereumNews.com.

This week in the cryptocurrency world has been eventful, marked by significant incidents, regulatory updates, and advancements in blockchain technology. Highlights include a massive security breach at WazirX, Terra setting a crucial bankruptcy claims deadline, OKX establishing its EU operations hub in Malta, Floki Inu achieving a major milestone, and 1inch releasing a key wallet update. Let’s dive into the details below for a comprehensive overview of the latest happenings in the crypto space. $230M in Crypto Assets Stolen from Indian Exchange WazirX’s Wallet This week, the crypto industry witnessed a shocking hacking incident. Over $230 million in assets were illicitly transferred from WazirX’s wallet to the wallet “0x04b2,” causing widespread concern within the cryptocurrency community. The stolen assets include 5.43 trillion SHIB tokens ($102 million), 15,298 Ethereum (ETH) coins ($52.5 million), 20.5 million MATIC tokens ($11.24 million), 640.27 billion PEPE tokens ($7.6 million), 5.79 million USDT ($5.79 million), and 135 million GALA tokens ($3.5 million). These assets represent a significant portion of WazirX’s funds, one of India’s largest cryptocurrency exchanges. The hacker has been actively dumping the stolen tokens on the market, raising concerns about potential market impacts and devaluation of the affected cryptocurrencies. He has also converted some of the assets into ETH. This incident highlights significant security vulnerabilities at WazirX. The exchange is expected to take immediate action to mitigate the damage and enhance its security protocols. The ongoing sale of stolen assets is likely to cause further market volatility, with the community closely monitoring the situation. Terra Announces August 9 as Deadline for Bankruptcy Claims Terra, a blockchain protocol dealing with algorithmic stablecoins, has announced August 9 as the deadline for submitting bankruptcy claims for Terraform Labs Limited and Terraform Labs Pte Ltd. In an official X post, Terra clarified that claims against Terraform Labs Pte…

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Filed under: News - @ July 22, 2024 2:16 am