CoinEx was hacked for $55 million, and inflation in the US accelerated

Weekly results for the cryptocurrency market
Weekly results for the cryptocurrency market

Bitcoin consolidated above $26,000, the CoinEx exchange was hacked for $55 million, inflation in the US accelerated, the co-founder of OneCoin was sentenced to 20 years in prison, the Ethereum team launched the Holesky testnet and other events of the past week.

Bitcoin price consolidated 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 $26,500.

BTC/USDT hourly chart of the Binance exchange. Data: TradingView.

Most of the top 10 digital assets by capitalization ended the week in the green zone. Toncoin grew the most (+34.3%).

Data: CoinGecko.

The total capitalization of the cryptocurrency market is $1.1 trillion. Bitcoin dominance index – 49.9%.

CoinEx was hacked for $55 million. The crypto exchange promised 100% compensation to the victims

On September 12, PeckShield analysts identified a “suspicious outflow” of funds from the wallets of the CoinEx cryptocurrency exchange. Journalist Colin Wu reported the transfer of more than $27 million to ETH, TRON and Polygon and allowed the hack.

Representatives of the platform confirmed the information and promised 100% compensation to affected users. SlowMist specialists suspected hackers from the DPRK-backed Lazarus Group of hacking.

Inflation in the US has accelerated

Growth in US consumer prices, excluding fuel and food, slowed year-on-year in August from 4.7% to 4.3%, which was above market expectations.

On a monthly basis, prices rose by 0.3% against 0.2% in July and similar expectations of economists.

The growth in headline inflation, which includes the above-mentioned volatile components, amounted to 3.7% in annual terms and 0.6% month-on-month (the largest jump in more than a year). The previous figure was 3.2% and 0.2%, respectively.

What to discuss with friends?

  • A British man who lost 7,500 BTC will sue the Newport authorities.
  • The media identified the sender of a Bitcoin transaction with a commission of $510,000.
  • The TON price increased by 15% amid the integration of the crypto wallet into Telegram.

OneCoin co-founder sentenced to 20 years in prison

One of the founders of the OneCoin cryptocurrency pyramid, Carl Sebastian Greenwood, was sentenced to 20 years in prison and a fine of $300 million.

He is accused of defrauding 3.5 million people and wasting over $300 million on five-star resorts, villas, a private jet and a yacht. He previously pleaded guilty to wire fraud and money laundering.

The fraudulent scheme, founded by Bulgarian citizen Rudzha 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. The damage from OneCoin’s activities is estimated at $4 billion.

Canaan introduced a new generation Bitcoin miner

Canaan has introduced a new installation for the extraction of the first cryptocurrency with immersion cooling A1466I. The Bitcoin miner provides a hashrate of 170 TH/s with an energy efficiency of 19.5 J/TH.

The A1466I is priced at approximately $3,210 per unit or $18.88 per TH. The installation was the first for the company with an efficiency above 20 J/TH.

Also on ForkLog:

  • In Ukraine, a pre-trial investigation has been launched against participants in the crypto market.
  • The CEO of Binance.US left the company amid layoffs.
  • Huobi exchange changed its name to HTX.
  • PayPal has launched a service for converting cryptocurrencies into cash.

The Ethereum team launched the Holesky testnet

Ethereum developers have launched the public test network Holesky, which will replace Goerli, which has been running since 2019. However, the team encountered problems at the start.

According to researcher Diederik Loerakker, the problem is caused by an incorrect configuration.

Holesky (Holešovice Testnet) was named after the train station in Prague.

The new testnet is designed to test staking solutions, evaluate infrastructure and protocols. Sepolia will continue to be used to test decentralized applications, smart contracts, and other Ethereum Virtual Machine-related features.

What else to read?

This week ForkLog published an excerpt from the book Cloudmoney. Cash, Cards, Crypto and the War for our Wallets about the ideological origins of Ethereum and the opinion of Web3 entrepreneur Vladimir Menaskop in defense of NFTs.

We also offer a review of the book by a US Space Force major on the strategic importance of Bitcoin and the philosopher Alexandra Tanyushina’s thoughts on the status of virtual reality.

The traditional digest collected the main events of the week in the field of cybersecurity.

The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention that companies are paying to Bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.

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