Hacker Loot $500K in Arbitrum Airdrop Using Hacked Vanity Addresses

• Hackers looted $500K worth of tokens during the layer-2 scaling solution Arbitrum airdrop.
• They managed to generate similar addresses using vanity address generators and so the original owners of the ARB tokens will no longer be able to claim them.
• 428 million ARB tokens still need to be claimed and the value of these tokens is close to $596 million.

Hacked Vanity Addresses Loot $500k

Recent on-chain data has shown that hacked vanity addresses have been used in looting $500K worth of tokens during the layer-2 scaling solution Arbitrum airdrop scheduled on March 23rd. An individual compiled a list of vanity addresses qualified for ARB airdrops and then managed to generate similar addresses using vanity address generators, directing the airdropped tokens to these newly developed addresses instead – leaving original owners unable to claim their ARB tokens.

Controversies Surrounding Airdrop

Many cryptocurrency users have taken to Twitter to express their dismay following the theft of their ARB tokens, with many not knowing how best respond appropriately or what caused this loss in the first place. Kucoin was also contacted by one user asking for help in recovering stolen coins, however no response has been made yet as far as we know.

Unclaimed Tokens

The blockchain analytics tool Nansen reports that there are currently 428 million ARB tokens that still need to be claimed, with 61% of eligible crypto wallets having already done so as of late March 22nd – leaving around 240,000 unclaimed addresses. This represents 37% (1.1 billion) out of all allotted 1.1 billion ARB for Arbitrum’s token giveaway – valued at around $596 million USD at current prices.

What Are Vanity Addresses?

Vanity addresses are unique crypto wallet address incorporating a user’s chosen phrase or word and were previously used in MetaMask fraud cases back in January 2021 where users were sent warnings about ‘address poisoning’ scams which targeted MetaMask users specifically at that time – showing us how easy it can be for hackers to access our crypto assets if we don’t take proper safety measures when dealing with our digital assets online such as wallets and exchanges etc..


This case shows us once again just how important it is that we always remain vigilant when transacting online with digital assets such as cryptocurrencies, by taking necessary precautions such as double checking wallet address before sending/receiving funds etc., making sure you understand all terms & conditions prior engaging in any activity related cryptocurrency transactions and always being aware of any new threats within the industry itself so you can avoid becoming another victim!

Discover the Deceptive Side of Ecoin Finance: A Suspicious Crypto Project

• Ecoin Finance is a project that is attempting to become an online payment platform leveraging the BNB Chain network and its BEP20 token.
• The company behind this project, E-Coin Finance LTD, was registered in the United Kingdom but has since been dissolved by UK authorities.
• According to Cal Evans of Gresham International, E-Coin Finance LTD’s claim of conducting business from the UK is in breach of the Companies Act.

Ecoin Finance: A Suspicious Project

Ecoin Finance (ECOIN) is a suspicious project based on the smart contract of Safemoon (SAFEMOON). The project promotes its token with the name of a now-defunct company that was registered in the United Kingdom. According to its website, Ecoin Finance was founded in May 2021 and aims to become “an online payment platform replacing conventional fiat currency through our integrated debit card.”

Company Behind Ecoin Dissolved By UK Authorities

The company behind this project is known as “Ecoin Finance LTD” which was registered in London back on June 2, 2021. However, this company has since been dissolved by UK authorities after receiving a warning back in August 2022. Furthermore, there have been no publicly-listed documents added by E-Coin Finance LTD management to its filing history since incorporation which suggests that it never really became active.

Breach Of The Companies Act

Cal Evans — the managing associate at crypto legal and compliance firm Gresham International — confirmed that since their website still claims “their business as being conducted from the UK” from their dissolved company, it is “definitely in breach of the Companies act”. This means all rights and property previously vested or held in trust for this dissolved company are now deemed bona vacantia and belong to the Crown.


It appears that Ecoin Finance may be involved with an unlawful or fraudulent activity as they are promoting their token with what appears to be a defunct organization’s name without disclosing any information about its dissolution. As such, investors should exercise caution before investing any money into this project as they could potentially risk losing their funds if they do not conduct thorough research beforehand.


This article does not constitute financial advice nor investment advice and should not be taken as such. Please perform your own due diligence before making any investments or decisions related to cryptocurrency projects mentioned herein or otherwise within our articles or websites..

Bitcoin Price Targets Slashed! $17K in Sight!

• Analysts are predicting that the current market pressure may push bitcoin prices down to $17,000.
• The western world is spiraling towards a recession and this will likely cause bitcoin and other digital assets to suffer in the coming months.
• Cryptocurrency investors are losing their optimism as the SEC cracks down on crypto investments and the Silvergate collapse further dampens enthusiasm.

Crypto Market Pressure

Crypto investors are bracing for impact as crypto analysts warn that the current market pressure may be far from over, with bitcoin and other major digital assets facing lower price targets. Crypto analyst and Youtuber, Crypto World, has described his visions and expectations for the price of bitcoin in the upcoming days. In the past three weeks, bitcoin has been on a bearish run from $25,000 down to $20,000 marking an 8.5% decline in the past 24 hours.

Economy Impact

With the western world spiraling towards a recession, bitcoin is also projected to have many rainy months in the red before it recovers. With the crackdown of the SEC as well as the Silvergate collapse, investors are losing interest and are becoming less hopeful about the breakout of bitcoin this year. The Fed and chairman Powell’s statements on the current eclipse of the economy do not help feed into an optimistic view of investors and venture capitalists in cryptocurrency industry either.

Price Targets

Crypto World notes that on a 3-day trend, Bitcoin has flipped past its bearish signal of $20,000 and proceeds to believe that even more tougher times are ahead for BTC holders. He believes that near term target at $19-$20k is expected in order for market to balance out before dipping lower after that; if it falls below $18800 there won’t be any support & it will quickly decline to $17K mark instead.

Weekly Chart

On a good note however Bitcoin would have to drop below 17K in next couple of days only then weekly chart will go green to red; given western economy’s struggling foothold right now it seems like Bitcoin & other digital assets will continue declining further until markets shifts back from red to green again..


The overall sentiment remains bearish among cryptocurrency investors due to economic pressures combined with regulatory crackdowns by authorities like SEC & recent Silvergate collapse hindering any optimistic views about BTC breakout this year; crypto analyst expects near term target at 19-20K followed possibly by further downward dip till 17K level soon enough unless something drastically changes anytime soon!

Coinbase’s Base Integrates Chainlink Price Feeds for DeFi Developers

-Coinbase’s Base has partnered with Chainlink to integrate the latter’s price feeds into the Base testnet.
-The integration of Chainlink’s price feeds provides developers with secure off-chain data sources to build decentralized applications.
-Chainlink’s LINK token has seen positive developments and market movement in February, including a partnership with Archblock, the issuer of TUSD stablecoin.

Coinbase’s Base Integrates Chainlink Price Feeds

Base, an Ethereum L2 solution developed by Coinbase, has announced a partnership with Chainlink to provide secure off-chain data sources for decentralized application developers in the crypto sector. Jesse Pollak, project lead at Base expressed his delight at the new development and how important it is for the company to partner with crypto giants like Chainlink.

What Does This Partnership Mean?

The integration of Chainlink’s price feeds into Base testnet allows developers to access secure and reliable off-chain data sources which can be used to build more efficient decentralized applications within the Ethereum blockchain ecosystem. This partnership fosters Coinbase’s vision to become one of the top L2 solutions in Ethereum blockchain by providing developers with such resources.

Benefits Of Using L2 Solutions

L2 networks such as Base process transactions in batches instead of individual processing on Ethereum mainnet which reduces transaction costs and increases speed significantly.

Chainlink’s Recent Developments

In addition to this partnership, Chainlink’s LINK token experienced a positive February marked by various developments including securing a partnership with Archblock (the issuer of TUSD stablecoin) and using their proof-of-reserves approach for minting purposes.


Overall, this new collaboration between Coinbase’s Base and Chainink is exciting news that will empower developers within the cryptocurrency space and help foster growth within ecosystems built on top of Ethereum blockchain technology.

Massive Sell-Offs Looming: Shiba Inu Price at Risk

• Shibu Inu is facing potential sell-offs after Voyager reportedly sold off some of its SHIB holdings.
• A “smart money” investor has recently transferred 182 billion SHIB to the cryptocurrency exchanges Crypto.com and Gemini.
• If these transactions continue, the price of the meme coin could experience downward movements.

Shiba Inu Facing Massive Sell-Offs

A massive transfer of Shiba Inu (SHIB) tokens was seen from SHIB wales just after Voyager made reports of some sell-offs of the meme coin. The price of Shiba Inu could take a significant blow if there is a considerable drop in demand for the stock in the near term or medium term amid these developments.

Whale Moves 183 Billion SHIB

A “smart money” investor reportedly carried out a sizable Shiba Inu transaction a few hours before press time, as reported by an on-chain data source called Lookonchain. The whale recently transferred 182 billion SHIB to the cryptocurrency exchanges Crypto.com and Gemini, which is equal to around $2.3 million.

Voyager Selling Assets via Coinbase

Lookonchain yesterday said that Voyager is selling assets via Coinbase most of which are comprised of SHIB tokens. Coinbase has given Voyager $100 million USDC over the last four days and since Feb 14th, Voyager has been sending assets to Coinbase almost daily.

Effects on Price

If these transactions carry on, the price of the meme coin could see downward movements due to decreased demand for it increases significantly due to large transfers from whales like this one witnessed recently . However, at press time Shiba Inu had increased by over 1.5% in the previous twenty-four hours according to CoinMarketCap indicating that no immediate effects have been seen yet on its price movement due to this transfer and possible sell offs by voyager at present..


The price impact remains uncertain but it is clear that any further major drag on SHIB’s prices could be caused if voyager continues selling all its crypto holdings through Coinbase as witnessed in recent times with this whale transferring 182 billion SHIB tokens across two exchanges

Bitcoin Surpasses Visa In Market Capitalization: A Crypto Milestone

• Bitcoin (BTC) has surpassed Visa in market value and is now ranked 18th.
• Visa’s market capitalization is approximately $460 billion while Bitcoin’s is over $472 billion.
• The limited supply of bitcoin and its decentralized mode have driven its growth in the market.

Bitcoin Surpasses Visa In Market Value

Bitcoin (BTC) has passed renowned payment card company, Visa, in terms of market value. Despite high volatility levels in the crypto industry, bitcoin has steadily risen to become one of the top companies in the world with a market capitalization of more than $472 billion according to CoinMarketCap. This ranks it at 18th while Visa’s current market capitalization stands at approximately $460 billion as reported by tradingeconomics.com.

The Impact Of Bitcoin’s Entry Into The Financial World

The entry of bitcoin into the financial world has changed several dimensions and attracted debate among economists, investors, and governments alike. Despite skepticism and unpredictability, bitcoin’s market capitalization continues to rise since its inception in 2009 which proves how powerful this cryptocurrency can be despite external conditions or conditions within the industry itself.

Why Is Bitcoin Outperforming Other Flagship Companies?

Bitcoin operates through a decentralized mode whereby transactions are not under the control of financial institutions or government entities but depend on peer-to-peer processing through blockchain technology which makes it attractive for investors looking for stability against devaluing fiat currencies and large stock markets shares that are subject to government manipulation or printing new money whenever they deem fit. Additionally, bitcoin also has a limited supply of 21 million coins which further drives its growth due to scarcity compared to fiat currencies such as US Dollar which can be printed without limit by central banks when needed.

Examples Of Companies That Have Been Outdone By Bitcoin

At the end of January 2021, bitcoin surpassed Johnson & Johnson – one of the world’s largest healthcare companies – making it just one out of many other prestigious companies offering international financial services that have been outdone by cryptocurrencies such as NVIDIA Corporation, Berkshire Hathaway Inc., Facebook’s Meta Platforms Inc., Tesla etcetera .

Final Thoughts

It is momentous for bitcoin to outdo such great companies despite crypto winter due to its decentralized mode and limited supply driving demand amongst investors who are looking for stable investments away from government manipulation or devaluing fiat currencies . With Visa recently announcing their embrace towards cryptocurrencies , there will be even more avenues for growth opened up in future .

Coinbase Defends Staking Services in Court, Will Fight Ban

• Coinbase CEO Brian Armstrong declared on Twitter that the company’s staking services are not securities.
• The US Securities Act and Howey Test do not consider staking as a form of security.
• When customers stake their assets, they maintain full ownership of such assets and can “unstake” them following protocol.

Coinbase Staking Services Not Considered Securities

Coinbase CEO Brian Armstrong took to Twitter to make it clear that the company’s staking services are not securities. He also added that Coinbase would defend this position in court if necessary in response to rumors of a staking ban. According to Coinbase, the US Securities Act and Howey Test do not consider taking a form of investment as a security because it does not meet the requirements of the test, which require an investment of money, joint enterprise, reasonable expectation of profits and other people’s efforts.

Staking Services Do Not Satisfy Requirements Of Howey Test

The Howey test is based on a decision made by the Supreme Court in 1946 but there is debate about whether this applies to current assets like cryptocurrency. In any case, Coinbase asserts that staking services do not satisfy these requirements as customers do not give up anything when asking Coinbase to stake part of their cryptocurrency; rather they continue to own what they had before requesting for staking services. Furthermore, no common business exists since validation is done by decentralized networks instead of central organizations and clients’ fortunes are independent from the company since rewards are predetermined so there is no need for profit expectations from others’ efforts.

Customer Ownership Retention Declassifies Staking As An Asset

Coinbase states that providing staking services does not qualify as an investment even with an enlarged definition including compensation surrendered for distinct financial interest. When customers ask for staking, they retain full ownership of their assets with ability to “unstake” them following protocol underpinning the process; therefore customer fortunes remain independent from Coinbase’s decisions or actions.

SEC Employs Howey Test To Determine Investment Contracts

The SEC employs the Howey test to determine whether an investment contract constitutes a security or not and while this decision was made by Supreme Court in 1946, there is still debate over its application on current assets such as cryptocurrency. Regardless, Coinbase claims that its staking service cannot be considered a security due to customer ownership retention and lack of any common enterprise between customer fortune and company decisions or actions.

Coinbase Will Defend Position In Court If Necessary

After rumors spread about potential bans on staking services, Brian Armstrong declared on Twitter that Coinbase will happily defend its position in court if needed; emphasizing his point about how their service does not constitute securities according to both US Securities Act and Howey Test requirements which necessitate investments consisting out monetary values, joint enterprises with reasonable expectation of profits from other people’s efforts – all criteria met here by customer ownership retention without any common business between client fortune or company action/decisions involved in governing rewards given through this service..

South Korean Regulator Sets Guidelines for Security Tokens

• South Korea’s Financial Services Commission (FSC) has published guidelines on how blockchain-based tokens will be regulated as securities in the country.
• Assets that qualify to be treated as securities include staking assets and those used to derive dividends.
• The FSC is also encouraging innovation while ensuring consumer protection with its new regulations.

South Korean Regulatory Body Publishes Security Token Guidelines

The financial services commission (FSC) of South Korea recently released guidelines for regulating security tokens in the country. According to the FSC, these guidelines are meant to encourage innovation while protecting consumers from potential risks posed by digital assets.

What Qualifies as a Security Token?

The new guidelines stipulate that any blockchain-based token can be considered a security if it has certain characteristics that fit within the scope of South Korea’s capital market act. These include assets used for staking and those which generate dividends or other investment returns for investors.

Digital Asset Regulations

Apart from security tokens, the FSC also plans to regulate other digital assets like stablecoins through upcoming regulations. It further noted that cryptocurrency and other digital asset-like financial securities will be assessed on a case-by-case basis, with issuers and brokers such as crypto exchanges held accountable for evaluating them according to the rules set out by the government body.

South Korea’s Proactive Stance on Crypto

South Korea has been one of the most proactive countries when it comes to regulating cryptocurrencies and embracing blockchain technology in general. The government has invested 4 billion Korean won into developing a virtual power plant based on blockchain, declared plans to launch a virtual currency tracking system aimed at fighting money laundering activities, and announced its intention to develop a decentralized digital commodity market before H2 2023 – all within just two years!


It is clear that South Korea is taking tremendous steps towards promoting crypto adoption in its economy while simultaneously protecting consumers from potential risks associated with investing in digital assets such as cryptocurrencies and security tokens. The nation’s friendly disposition towards cryptocurrencies continues to attract attention from investors around the world looking for opportunities within this emerging asset class.

Bitcoin Miners Selling Pressure Drops to 3-Year Low Amid Bullish Market

• Bitcoin miners’ selling pressure has reduced to lows last witnessed three years ago.
• The relief recorded among miners can be attributed to Bitcoin’s recently-engineered rally, resulting in a 5-month high.
• Data from CryptoQuant charts also substantiates the claims from the BitFinex report, indicating a sharp drop in miners’ balance on exchanges to levels last witnessed in 2019.

Bitcoin (BTC) miners have seen a significant reduction in their selling pressure, recording lows that haven’t been witnessed in three years. The relief among miners can be attributed to Bitcoin’s recent rally, which has resulted in a five-month high.

The frenzy caused by the pandemic last year saw miners resort to capitulation in order to salvage what was left of their already-dwindling revenues. This led to a substantial reduction in miners’ balance and massive declines in mining stocks. Last December, mining analyst Jaran Mellerud revealed that the total valuation of public miners was at $2 billion, as opposed to $17 billion in November 2021.

However, the recent bullish market atmosphere has triggered a reversal of the trend, as highlighted by BitFinex in a recent blog article. Citing Glassnode data, Bitfinex revealed that the selling pressure on miners has reduced to a three-year low, as the amount of BTC sold every week significantly dropped below 100 coins. This metric is indicated in a sharp drop in miners’ balance on exchanges to levels last witnessed in 2019.

Notably, data from CryptoQuant charts also substantiates the claims from the BitFinex report. The Bitcoin Pool Difficulty, which determines the difficulty level of mining new bitcoins, has also hit an all-time high (ATH). This ATH was previously only seen in late 2020 when the bitcoin price was at its peak.

The recent trend reversal suggests that miners have either switched to an accumulation habit or are already doing that amid the recent price uptick. This is great news for the bitcoin market, as the reduced selling pressure could help propel prices further.

Overall, Bitcoin miners have seen a significant reduction in their selling pressure and this could have a positive effect on the bitcoin market. With the Bitcoin Pool Difficulty also hitting an ATH, it is clear that miners are feeling more confident about the crypto market. The relief among miners is certainly a welcome sign for investors, as it could help drive prices higher.

Silvergate’s Q4 2022 Losses Reach Nearly $1 Billion

-Silvergate Capital reported a loss of nearly $1 billion in Q4 2022.
-This is a significant decline compared to the $75.5 million profit made in 2021.
-The Chief Officer of Silvergate said the company is staying focused on providing value-added services for their clients and maintain a highly liquid balance sheet with a fortified capital position.

Silvergate Capital, one of the world’s leading virtual asset banks, has announced its Q4 results for the year 2022. The results have shown a net loss of nearly $1 billion, a significant decline compared to the $75.5 million profit made in 2021.

These results come at a time when the crypto market is facing various impediments and participants have initiated a ‘risk-off’ approach when it comes to virtual asset trading. This, combined with a class action lawsuit against the company on December 16, 2022, has resulted in deposit outflows and a need for the firm to maintain its balance sheet.

To that end, the company has looked to other means of liquidity, including selling debt securities and raising funds. The Chief Officer of Silvergate, however, remains confident in the firm, saying that they are adjusting to losses in the virtual currency world. He went on to say that the company is staying focused on providing value-added services for their clients, and that they will execute a plan to sustain a highly liquid balance sheet with a fortified capital position.

When it comes to transfers, the digital asset bank made $117 billion in the fourth quarter, indicating a 4% increase from the third quarter ($112.6 billion). However, this is still a 47% decrease compared to the fourth quarter of 2021 ($219 billion).

In terms of customers, the company had 1,620 as of December 31, 2022.

Altogether, these Q4 results are a concerning sign for the company and its shareholders. Although the Chief Officer has expressed confidence in the firm and its ability to adjust to the current market situation, it remains to be seen whether the firm’s efforts to raise funds and maintain liquidity will be successful in the long run.