It is important to be aware and updated on trends, headlines, and other information despite the hectic work schedule in the cryptocurrency industry. Here are some noteworthy events from the previous week:
TL;DR
- Telegram integrates ton space wallet, boosting ton’s price
- Global cryptocurrency exchange, CoinEx, hacked $53 million worth of cryptocurrency
- OneCoin Co-founder sentenced to 20 years in prison over $4 Billion fraud
- Shibarium continues to aid the growth of BONE staking
- FTX responds to a cybersecurity breach, says portal is now open
Telegram Integrates TON Space Wallet, Boosting Ton’s Price.
Digital asset management just got easier for Telegram users who own TON. Telegram, a messaging app with over 800 million monthly active users has integrated TON Space, a digital wallet that will make TON funds accessible to Telegram users. A beautiful integration of Web2 and Web3 indeed!
According to CryptoSlate, following the news, TON’s price jumped by nearly 14% to $1.93082 as of press time.
This integration will no doubt promote the adoption of TON and set the pace for further integrations of Web2 and Web3 for easy accessibility and management of digital assets by owners of digital assets and users of Web2 applications. It will be made available by November 2023 with exceptions of those in the US.
Global CryptoCurrency Exchange, CoinEX, hacked $53 Million Worth of Cryptocurrency
CoinEX was hacked on September 12 of Cryptocurrencies used for operational support in its hot wallets. CoinEx reported details of the hack in a notice shared on its X account on Tuesday following the attack and assured that all its user assets are safe and secure.
A total of $53 million worth of cryptocurrencies have been lost and user assets have not been impacted by the incident, CoinEx said, and assuring that any parties suffering loss will receive full compensation.
OneCoin Co-founder Sentenced to 20 Years in Prison Over $4 Billion Fraud
OneCoin, a pyramid scheme Cryptocurrency founded by Karl Greenwood and Ruja Ignatova also known as ‘Cryptoqueen’, has allegedly scammed investors of $4 Billion without producing any product but by paying old investors with new investors’ money.
Despite the sentence, there has been a little fuss around the disappearance of ‘Cryptoqueen’ as she is yet to be apprehended. However, Reuters, reports that the federal judge in New York has sentenced Karl, the co-founder of OneCoin to 20 years in prison on Tuesday for what prosecutors called a $4 billion fraud.
Shibarium Continues to Aid the Growth of BONE Staking
Shiba Inu’s new layer-2 scaling solution, Shibarium, has experienced user engagement that is causing a surge in staking for the altcoin that its gas fees saw a spike. Indeed, the Shibarium promises better scalability for users to enable efficiency and ease of usage. It has had over 1.2 million distinctive wallet addresses since its inception and also, according to reports from Shibarium, the amount of Bone Shibaswap (BONE) has reached over 27.1 million.
Crypto News Flash also reports that Shiba Inu’s innovative layer-2 scaling solution, Shibarium, has developed as a force to be reckoned with due to the latest data from Shibariumscan that has unveiled the figures that speak of its exponential growth.
FTX Responds to Cybersecurity Breach, Says Portal is Now Open
FTX experienced a cybersecurity breach that revealed customer data from its claims agent, Kroll. FTX responded by suspending some user’s accounts to secure them from the attack. However, users’ accounts have been put back to functionality.
Blockchain Reporter notes in their report that FTX’s swift response and added security measures reinforce their commitment to user safety as the cyber raid on Kroll created a momentary setback.
Final Thought
Anyone attempting to navigate the complicated worlds of cryptocurrencies, finance, and investing must have a solid understanding of market dynamics. Decisions and results can be substantially impacted by trends and changes in market behaviour.
Understanding market dynamics can help you as an investor to predict changes, evaluate risk, and spot opportunities, resulting in smarter decisions.
