1 day ago
(E)
💥ByBit Hack💥: ‘The largest crypto theft of all time’
Bybit Hackers Move 490,000 ETH Across 49 Addresses, 15,000 cmETH Still Pending Unstake
Bybit Hackers Move 490,000 ETH Across 49 Addresses, 15,000 cmETH Still Pending Unstake
5 days ago
FTX's estate is beginning its payment plan today, though the initial distribution will be approximately $1.2 billion rather than $2.4 billion.
- Starting today, FTX will begin repayments to creditors with claims of $50,000 or less ("convenience class" creditors).
-These creditors will receive approximately 119% of their claimed amount, including principal plus interest.
- Payments must be completed within 60 days of the effective date.
Market Impact Analysis:
- Analysts estimate approximately $2.4 billion may flow back into crypto markets following the distribution
- $3.9 billion of total claims were acquired by credit funds, which typically won't reinvest in crypto assets
- 33% of remaining claims belong to sanctioned countries, individuals without KYC verification, or those unable to claim funds
Total Distribution Scope:
- Total estimated distribution will range between $14.7 billion and $16.5 billion
- BitGo and Kraken have been designated to manage initial distributions for retail and institutional customers in supported jurisdictions
- Creditors must complete KYC verification and submit tax forms through the FTX Debtors' Customer Portal to receive payments
MANY WILL INVEST IN #bitcoin 🚀
- Starting today, FTX will begin repayments to creditors with claims of $50,000 or less ("convenience class" creditors).
-These creditors will receive approximately 119% of their claimed amount, including principal plus interest.
- Payments must be completed within 60 days of the effective date.
Market Impact Analysis:
- Analysts estimate approximately $2.4 billion may flow back into crypto markets following the distribution
- $3.9 billion of total claims were acquired by credit funds, which typically won't reinvest in crypto assets
- 33% of remaining claims belong to sanctioned countries, individuals without KYC verification, or those unable to claim funds
Total Distribution Scope:
- Total estimated distribution will range between $14.7 billion and $16.5 billion
- BitGo and Kraken have been designated to manage initial distributions for retail and institutional customers in supported jurisdictions
- Creditors must complete KYC verification and submit tax forms through the FTX Debtors' Customer Portal to receive payments
MANY WILL INVEST IN #bitcoin 🚀
8 days ago
Abu Dhabi's sovereign wealth fund has purchased over $400 million in #bitcoin ETFs.
Mubadala, the Abu Dhabi government's sovereign wealth fund, has announced that it holds $436.9 million in shares of a Bitcoin exchange-traded fund (ETF). The fund has chosen BlackRock’s iShares Bitcoin Trust ETF, which now constitutes approximately 2.1% of Mubadala’s overall portfolio.
https://fintel.io/i/mubada...
Mubadala, the Abu Dhabi government's sovereign wealth fund, has announced that it holds $436.9 million in shares of a Bitcoin exchange-traded fund (ETF). The fund has chosen BlackRock’s iShares Bitcoin Trust ETF, which now constitutes approximately 2.1% of Mubadala’s overall portfolio.
https://fintel.io/i/mubada...
19 days ago
2 months ago
Google Willow Quantum vs Bitcoin Encryption
Today, Google announced that Willow has reached 105 qubits with improved error rates. Should Bitcoiners worry?
🚫 Short Answer: No.
🔒 #bitcoin relies on two types of encryption:
1️⃣ ECDSA 256: Vulnerable to "Shor’s algorithm," but cracking it would require over 1,000,000 qubits. Willow’s 105 isn’t even close.
2️⃣ SHA-256: Even tougher—requires a different approach (Grover’s algorithm) and millions of physical qubits to pose a real threat.
Bitcoin’s cryptography remains SAFU... for now.
Today, Google announced that Willow has reached 105 qubits with improved error rates. Should Bitcoiners worry?
🚫 Short Answer: No.
🔒 #bitcoin relies on two types of encryption:
1️⃣ ECDSA 256: Vulnerable to "Shor’s algorithm," but cracking it would require over 1,000,000 qubits. Willow’s 105 isn’t even close.
2️⃣ SHA-256: Even tougher—requires a different approach (Grover’s algorithm) and millions of physical qubits to pose a real threat.
Bitcoin’s cryptography remains SAFU... for now.
7 months ago
BREAKING: Recently hacked Indian 🇮🇳 crypto exchange
WazirX India pauses trading and says ‘The path to a total recovery of 💰 $230m will be longer’.
WazirX India pauses trading and says ‘The path to a total recovery of 💰 $230m will be longer’.
7 months ago
Vitalik Buterin, the co-founder of #ethereum , calling #Blockchain a "truth machine" due to its ability to provide timestamps for messages, indicating when they were sent. Buterin's social media comments were inspired by a question regarding "global universal blockchain."
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8 months ago