Chinese mining giant Canaan announces $10 million share buyback

Canaan, China’s major cryptocurrency mining company, will soon launch a $10 million share repurchase program. On Sept. 8, the Nasdaq-listed company officially announced that its board of directors has  authorized a share repurchase program to repurchase up to $10 million worth of its American depositary shares, or ADSs. According to the announcement, Canaan will be repurchasing 15 Class A ordinary shares and/or Class A ordinary shares over the next 12 months starting Sept. 22. Under the share repurchase program, the mining giant is authorized to repurchase its ADSs “from time…

Bitcoin Price Slips Below $10,000, Liquidating $40 Million

Bitcoin has sustained a strong correction over the past few days as legacy markets have turned red. The price of the leading cryptocurrency just plunged under $10,000 minutes ago for the third time in the past 48 hours. BTC now trades for $9,950 as of this article’s writing, around a percent or two above the local lows of $9,800. The market’s momentum seems to be bearish. This is exemplified by futures markets for Bitcoin, which have begun to print a series of negative funding rates, which means the prices of…

Migration of $180 million worth of SUSHI from UniSwap to SushiSwap has been approved

The liquidityThe SushiSwap community just approved a move from Uniswap to its own native platform — built by forking the original project. Almost 87% of the vote were in favor of the migration. Currently, there is close to $180 million worth of liquidity in the ETH/SUSHI pair on Uniswap. The SushiSwap’s total value staked has grown from zero to $1.4 billion in a matter of days. This would place the recently launched DeFi project behind Uniswap and tied with Maker and Aave. Like many other DeFi projects, it was launched with limited security audits.…

Binance Charity and Integro Foundation raise $1 million for PPEs

Binance Charity and Integro Foundation raised $1 million to donate personal protective equipment to frontline workers. A total of 500,000 KN-95 masks will be distributed to workers in the Brazilian Amazon, Argentina, Chile, Mexico, Venezuela, Peru, Ghana, Nigeria, South Africa, Bermuda, Barbados, St. Lucia, Haiti, Bahamas, the Dominican Republic, the Navajo nations, Russia and Puerto Rico. The initiative is part of the Crypto Against COVID campaign. Integro, founded in Puerto Rico in 2015, committed $333,000 to the initiative with Binance Charity matching that amount 2:1, the foundation said in a…

FBI and Tesla thwart $4 million Bitcoin ransomware plot

A young Russian citizen and his co-conspirators came within an inch of carrying out a major ransomware attack against Tesla — unaware that their target had already turned them in. Last week, the United States Federal Bureau Investigation (FBI) unsealed a criminal complaint against a conspirator in a thwarted ransomware plot against the electric car maker Tesla. On Aug. 22, the Bureau arrested 27 year-old Russian citizen Pavel Kriuchkov in Los Angeles, who had allegedly spent much of his month in the U.S. attempting to recruit a Tesla staffer at…

Telos will tokenize $35 million of Croatian seafront real estate

Telos has announced that it would be working with Dapp development platform Katalyo to tokenize $35M worth of Croatian properties. Telos — one of the most active blockchains in the world in terms of transactions — said Katalyo would be issuing two tokens for each participating seaside property. One token would represent ownership of the real estate, and the second would be a fiat-based stablecoin generated from rental revenue. Katalyo co-founder Ivica Ljubicic called Telos “extremely well-suited” for tokenizing properties and the switch to blockchain could help bring investors to…

Another inside job at Shapeshift cost the company nearly $1 million

Following the theft and repayment of $900,000 in Bitcoin (BTC), Shapeshift is now pursuing damages in court against its former senior software engineer, Azamat Mukhiddinov.  “There was significant time lost and legal costs associated with the clean-up,” Shapeshift’s chief legal officer, Veronica McGregor, told Cointelegraph, noting that customer funds were safe throughout the ordeal. “ShapeShift is non-custodial, so no customer funds were ever at risk,” she said.  Working in a high level position for Shapeshift, Mukhiddinov allegedly used his access to the exchange’s backend to steal roughly 90 BTC, worth nearly…

A $1 million BTC bribe leads to conspiracy charges for Russian man

The Department of Justice has charged Russian citizen Egor Igorevich Kriuchkov with conspiracy to damage a protected computer system after he allegedly bribed an employee of a Nevada company with $1 million in Bitcoin to install malware in that company’s computer system. According to documents from the U.S. District Court of Nevada, Kriuchkov wanted to steal data from the company’s network, then threaten to make that data public unless the company paid a ransom. He first arranged contact with the employee via WhatsApp, then entered the United States on a…

FTX crypto exchange acquires Blockfolio for $150 million, set to create ‘New trading experience’

Blockfolio is off the table, and with it goes the second — and arguably final — opportunity for a crypto exchange to add millions of existing retail users to its ecosystem. Following Binance’s acquisition of CoinMarketCap (CMC) earlier this year, crypto industry prognosticators identified the retail market’s most popular portfolio management app as the likely target of the sector’s next mammoth retail deal. And FTX, which only launched in 2019, has proved willing to pay the $150 million price tag for Blockfolio’s 6 million-strong user base as the exchange looks…

Report suggests $1 million of ransomed Bitcoin was cashed out on Binance

Researchers have uncovered evidence that over $1 million worth of Bitcoin (BTC) from addresses linked to Ryuk ransomware attacks was moved through a wallet on Binance. According to a report by Forbes on Aug. 23 the researchers took a sample of 63 transactions, representing $5.7 million of the over $61 million estimated by the FBI to have been stolen using the Ryuk ransomware. Of the $5.7 million, $1,064,865 worth of Bitcoin from multiple wallet addresses was bounced through numerous non-connected wallets before eventually finding its way to Binance, where it…