Weekly: bitcoin searches for a bottom, the Fed "without surprises," a crisis and a different course for mining, and Binance's problems in the EU
The Incrypted editorial team has prepared for you another digest of the main events in the Web3 sphere over the week. In it we will tell you about signals of a possible bitcoin bottom and the accumulation of the asset by whales, the first Fed decision under Warsh and the uncertainty between the U.S. and Iran, the profitability crisis of bitcoin miners and their pivot toward AI infrastructure, as well as Binance's problems with…
Axelar reports a Secret Network bridge hack worth $4.67 million
On June 19, the blockchain project Axelar disclosed a hack of its bridge with the Secret Network protocol. The attacker withdrew about $4.67 million by exploiting an "infinite mint" vulnerability. We analyzed the Secret Network incident. An attacker exploited an infinite-mint bug in a modified CW20-ICS20 token contract on Secret to drain ≈$4.67M. The attacker minted arbitrary Secret-wrapped…
Confusing euro stablecoins with the digital euro is a costly mistake
Circle's senior director for EU strategy and policy, Patrick Hansen, stressed that euro stablecoins and the future digital euro from the European Central Bank (ECB) are fundamentally different instruments. According to him, confusing one with the other is "a costly policy mistake that must not be made." Hansen explained that these are two dissimilar…
* to search the proxy database, just enter a country name, e.g. Russia, USA, Thailand