Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for September 11 - 17, 2023.

Weekly Crypto Digest for September 11 - 17, 2023.

Monday, September 18, 2023

TOP news of the crypto industry for September 11 - September 17, by Yellow Capital.
Bitcoin has strengthened above $26,000, CoinEx was hacked for $55 million, Inflation in the US accelerated, and more news.

The price of Bitcoin has strengthened above $26,000

On Monday, September 11, quotes of the first cryptocurrency tested below $25,000.
On Tuesday, September 12, the rate of digital gold rose above $26,000 and has not fallen below the psychological level since then.
At the time of writing, Bitcoin is trading at around $26,500.
Most digital assets from the top 10 by capitalization ended the week in the "green zone". Toncoin grew the second (+34.3%).
The total capitalization of the cryptocurrency market is $1.1 trillion, Bitcoin dominance index is 49.9%.

CoinEx was hacked for $55 million. Crypto exchange promised 100% compensation to victims

On September 12, PeckShield analysts detected a "suspicious outflow" of funds from wallets of the CoinEx cryptocurrency exchange. Journalist Colin Wu reported on the transfer of more than $27 million in ETH, TRON, and Polygon and allowed hacking.
Representatives of the platform confirmed the information and promised 100% compensation to the affected users. SlowMist specialists suspected hackers from the North Korean-backed Lazarus Group.

Inflation in the US accelerated

The growth of consumer prices in the USA, excluding fuel and food products, in August slowed down from 4.7% to 4.3% year-on-year, which turned out to be higher than market expectations.
In monthly terms, prices rose by 0.3% against 0.2% in July and similarly expected by economists.
The growth of general inflation, including the above-mentioned volatile components, amounted to 3.7% in annual terms and 0.6% in monthly terms (the biggest jump in more than an hour). The previous figure was 3.2% and 0.2%, respectively.

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Coinbase inadvertently made $1 million after Curve was hacked

Cryptocurrency exchange Coinbase, as a validator, processed an Ethereum transaction after the DeFi protocol Curve Finance was hacked and received about $1 million in reward, reported by CoinDesk.
On July 30, an unknown person attacked Curve Finance stablecoin pools and withdrew approximately $61.7 million.

The co-founder of OneCoin was sentenced to 20 years in prison

Karl Sebastian Greenwood from OneCoin

Karl Sebastian Greenwood, one of the founders of the cryptocurrency pyramid OneCoin, was sentenced to 20 years in prison and a fine of $300 million.
He is accused of defrauding 3.5 million people and embezzling over $300 million on five-star resorts, villas, a private plane, and a yacht. He previously pleaded guilty to wire fraud and money laundering.
The fraudulent scheme, founded by the Bulgarian citizen Ruja Ignatova together with Greenwood, operated from 2014 to 2016. The OneCoin project was positioned as a highly profitable cryptocurrency, in which investors received profit not only from the growth of the asset but also from attracting new participants.
Greenwood was arrested in 2018 in Thailand. Ignatova's whereabouts have been unknown since 2017. Damage from OneCoin activity is estimated at $4 billion

Binance.US CEO has left the company amid layoffs

Brian Schroeder, CEO of the Binance.US cryptocurrency exchange, has resigned from his post. Ego was temporarily replaced by the head of the legal affairs department, Norman Reed, Bloomberg reports.
The resignation of the CEO occurred in parallel with mass layoffs. The American exchange fired about a third of its employees or about 100 people.
Schroeder joined the company in 2021. Previously, he was head of business development at Ant Group and head of strategy and business development in the Asia-Pacific region at Uber.

Pavel Durov confirmed the integration of TON Wallet in Telegram

From November 2023, some Telegram users will get access to the TON Wallet. This was announced by the founder of the project, Pavel Durov.
The exception is the USA and "some other countries". TON Wallet is already in the options tab when connecting the wallet mini-application via the @wallet command, noted Durov.
"This step will allow developers to implement hundreds of new features - similar to those that were first implemented through Fragment. TON Wallet, a third-party mini-application inside Telegram, will open a completely new dimension of Web 3.0 for hundreds of millions of users," he emphasized.

In Ukraine, a pre-trial investigation has been launched against crypto market participants

The Bureau of Economic Security of Ukraine (BEB) will check bitcoin exchanges whose owners and founders are residents of Ukraine. The new head of the department, Andrey Pashchuk, told Forbes about this.
Back in August, BEB calculated that over ten years, the budget of Ukraine lost at least 3 billion hryvnias (about $81 million) in taxes from the activities of local cryptocurrency exchanges.
As Pashchuk now explained, the calculations were based on data from analytical and search systems and data obtained with the help of various OSINT intelligence methods.

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