Cryptocurrency platform loses estimated $600 million in cyberheis

A cryptocurrency platform has lost an estimated $600 million in digital tokens after one of the sector’s biggest ever hacking attacks, according to details of the heist which emerged on Wednesday. Poly Network, a decentralised finance platform (DeFi), announced the hack on Twitter and posted details of digital wallets to which it said the money…

Mudrex raises $2.5 mn in seed round led by Nexus Venture Partners

Bengaluru and San Francisco-based crypto asset management platform Mudrex has raised $2.5 million in a seed round led by Nexus Venture Partners with participation from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. The company had earlier raised $750,000 from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal….

Cryptocurrency exchange Binance halts new Hong Kong futures accou

Binance Holdings Ltd. will no longer allow users from Hong Kong to open new futures accounts. The largest crypto exchange by reported turnover said in a Twitter post that the move is effective immediately. “We will be restricting Hong Kong users in respect of derivatives products (including all futures, options, margin products and leveraged tokens)…

Ethereum software upgrade activated; ether, bitcoin down 4-5%

Ethereum, the second-largest blockchain, went through a major software upgrade on Thursday, which is expected to stabilize transaction fees on the network and potentially reduce supply of the ether token. The adjustment called Ethereum Improvement Proposal (EIP) 1559 changes the way transactions are processed on Ethereum by providing clear pricing on transaction fees in ether…