Ethereum L2 Abstract hit by wallet drain, ties to Cardex suspected
The recent news of a wallet drain in the cryptocurrency world has caused quite a stir among investors and developers alike. The drain, which was initially thought to be a global issue, has now been identified as a potential breach in a specific application called Cardex, which is based on the Abstract platform.
According to developers, this wallet drain is not a widespread problem affecting all Abstract users, but rather a targeted attack on the Cardex game. This revelation has brought some relief to the community, as it means that the security of the Abstract platform as a whole is not compromised.
However, this incident has raised concerns about the security measures in place for applications built on the Abstract platform. While the platform itself may be secure, it is crucial for developers to ensure the safety of their individual applications as well. This incident serves as a reminder for all developers to prioritize security and regularly conduct thorough audits to prevent any potential breaches.
The Abstract platform has gained popularity in the cryptocurrency world for its innovative approach to decentralized applications. Its unique architecture allows for the creation of various applications, including games like Cardex, which have gained a significant following among users.
Despite this recent setback, the Abstract platform continues to be a promising platform for developers and investors. With its robust security measures and growing community, it is expected to bounce back from this incident and continue to thrive in the ever-evolving world of cryptocurrency.
In conclusion, while the wallet drain may have caused some concern, it is important to note that it was not a global issue and has been isolated to a specific application. This serves as a reminder for developers to prioritize security and for users to remain vigilant when using any cryptocurrency platform. The Abstract platform remains a promising and exciting platform for the future of decentralized applications.
Bitcoin teases August 2023 breakdown as analysis eyes $85K BTC price
According to new research, Bitcoin’s price action may not currently show a clear trend, but there is potential for the cryptocurrency to reach $85,000 in the near future. This prediction is based on the idea that Bitcoin may repeat its past performance from 2023.
The research suggests that Bitcoin’s price could potentially follow a similar pattern to what was seen in 2023, where the cryptocurrency experienced a significant surge in value. This could lead to a potential visit to $85,000, which would be a major milestone for Bitcoin and the entire cryptocurrency market.
While it’s impossible to predict the future with certainty, this research provides an interesting perspective on Bitcoin’s potential growth. It also highlights the importance of looking at past performance and patterns when analyzing the cryptocurrency market.
Bitcoin has been making headlines recently with its volatile price swings and increasing adoption by mainstream institutions. This has led to a lot of speculation and debate about where the cryptocurrency is headed next. Some experts believe that Bitcoin’s value could continue to rise, while others warn of a potential bubble.
Regardless of the differing opinions, one thing is clear: Bitcoin has come a long way since its inception in 2009. From being dismissed as a fad to now being recognized as a legitimate asset class, Bitcoin has proven its resilience and potential for growth.
As the cryptocurrency market continues to evolve and mature, it will be interesting to see if Bitcoin does indeed repeat its 2023 performance and reach $85,000. Only time will tell, but one thing is for sure: Bitcoin’s journey is far from over and there are still many exciting developments and opportunities ahead for this digital currency.
SpaceX’s next Mars rocket could include Optimus robots and Grok — Musk
Elon Musk, the visionary entrepreneur and CEO of Tesla, has once again captured the world’s attention with his latest announcement. In a recent tweet, Musk revealed his ambitious plan to send a Tesla Bot equipped with Grok AI to Mars by late 2026.
This groundbreaking project is set to revolutionize space exploration and pave the way for future human colonization of the red planet. The Tesla Bot, a humanoid robot designed and manufactured by Tesla, will be powered by Grok AI, an advanced artificial intelligence system developed by the company.
The idea of sending a robot to Mars is not new, but what sets Musk’s plan apart is the use of a Tesla Bot. With its advanced technology and capabilities, the Tesla Bot is expected to outperform any other robot currently in use for space exploration. It will be able to navigate the harsh terrain of Mars, collect data, and perform tasks that would otherwise be dangerous for humans.
But why send a robot to Mars? According to Musk, the ultimate goal is to establish a self-sustaining human colony on the planet. By sending a Tesla Bot equipped with Grok AI, Musk hopes to gather crucial information and data that will aid in the development of technologies necessary for human survival on Mars.
This announcement has sparked excitement and curiosity among space enthusiasts and technology enthusiasts alike. Many are eager to see the capabilities of the Tesla Bot and how it will contribute to the future of space exploration.
While the timeline for this project may seem ambitious, Musk has a track record of turning his seemingly impossible ideas into reality. With his determination and the advanced technology of Tesla and Grok AI, the possibility of a Tesla Bot roaming the surface of Mars in the near future is not far-fetched.
In conclusion, Elon Musk’s plan to send a Tesla Bot with Grok AI to Mars is a bold and groundbreaking step towards the future of space exploration and human colonization. It is a testament to the endless possibilities that can be achieved with determination, innovation, and advanced technology.
Price analysis 2/17: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK
Bitcoin bulls appear reluctant to buy dips after BTC’s repeat failures to secure a close above $98,500.
Bitcoin leads first major weekly crypto ETP outflows of 2025 at $430M
Last week, Bitcoin exchange-traded products (ETPs) experienced a significant decrease in investments, according to CoinShares’ Chief Investment Strategist James Butterfill. This comes as no surprise, as Bitcoin has been known to be highly sensitive to changes in interest rates.
Bitcoin ETPs, which are investment products that track the price of Bitcoin, saw the largest outflows compared to other cryptocurrencies. This could be due to the recent increase in interest rates, which has caused investors to shift their focus to other assets.
Butterfill explains that Bitcoin’s price is heavily influenced by interest rate expectations. When interest rates rise, investors tend to move their money into assets that offer higher returns, such as stocks or bonds. This can lead to a decrease in demand for Bitcoin, causing its price to drop.
However, this does not mean that Bitcoin is losing its appeal as a valuable investment. In fact, Butterfill believes that the recent outflows from Bitcoin ETPs could be a temporary trend. He points out that Bitcoin’s long-term performance has been impressive, with a 900% increase in value over the past year.
Moreover, Bitcoin’s volatility has decreased significantly in recent months, making it a more stable investment option. This could attract more institutional investors who are looking for a less risky way to enter the cryptocurrency market.
Despite the recent outflows, Bitcoin remains the most popular and valuable cryptocurrency, with a market capitalization of over $1 trillion. It continues to gain mainstream acceptance, with major companies like Tesla and PayPal now accepting it as a form of payment.
In conclusion, while Bitcoin ETPs may have seen a decrease in investments last week, this does not reflect the overall sentiment towards Bitcoin. Its long-term performance and decreasing volatility make it a promising investment option for both retail and institutional investors.
Australian regulator’s ‘blitz’ hits crypto exchanges, money remitters
The world of cryptocurrency has been gaining more and more attention in recent years, with many individuals and businesses jumping on board to take advantage of its potential. However, with this increased interest comes a greater need for regulation and compliance to ensure the safety and security of all involved. This is why the recent alert from the Australian Anti-Money Laundering watchdog to 50 firms, including crypto exchanges, has caused quite a stir in the industry.
The alert, which was sent out to these firms as a precautionary measure, highlighted possible compliance issues that could arise in the handling of cryptocurrency transactions. This is a crucial step in ensuring that all parties involved are following the necessary regulations and protocols to prevent money laundering and other illegal activities.
One of the main concerns raised in the alert was the potential for crypto exchanges to be used as a means for money laundering. With the anonymity and decentralization of cryptocurrency, there is a risk that it could be exploited by criminals to hide their illicit activities. This is why it is essential for exchanges to have proper measures in place to monitor and report any suspicious transactions.
While this alert may have caused some concern among crypto exchanges, it is ultimately a positive step towards creating a safer and more regulated environment for the industry. It highlights the importance of compliance and the need for all parties involved to work together to prevent any potential misuse of cryptocurrency.
In response to the alert, many exchanges have already taken steps to strengthen their compliance measures and ensure they are following all necessary regulations. This not only benefits the industry as a whole but also helps to build trust and credibility with customers and investors.
As the world of cryptocurrency continues to evolve and grow, it is crucial for all parties involved to stay vigilant and work towards maintaining a safe and compliant environment. With the support of regulatory bodies like the Australian Anti-Money Laundering watchdog, the future of cryptocurrency looks bright and promising.
SEC suit against crypto miner Geosyn on ice as feds file fraud charges
US prosecutors have filed parallel charges against former and current Geosyn Mining executives, which has put the brakes on an SEC lawsuit.
Bitcoin's giant 'megaphone pattern' sets $270K-300K BTC price target
Bitcoin has been making headlines in the financial world for its impressive price growth, with many experts comparing it to the rise of gold. In fact, some are even predicting that Bitcoin could surpass gold in terms of value in the near future.
The similarities between Bitcoin and gold are striking. Both are scarce resources, with a limited supply that cannot be manipulated by governments or central banks. This scarcity is what gives them their value and makes them attractive to investors. Additionally, both assets have a decentralized nature, meaning they are not controlled by any single entity and are not subject to the same risks as traditional currencies.
But what is truly fascinating is how closely Bitcoin’s price growth is mirroring that of gold. Just like gold, Bitcoin started off with a relatively low value and has steadily increased over time. In fact, some analysts have noted that Bitcoin’s price trajectory is almost identical to that of gold’s in its early days.
This has led to speculation that Bitcoin could potentially reach even higher price targets in the future. Some experts are predicting that Bitcoin could surpass $300,000, which would put it on par with the current value of gold. This may seem like a bold prediction, but given Bitcoin’s current trajectory, it is not entirely out of the realm of possibility.
Of course, there are still many skeptics who doubt the long-term potential of Bitcoin. They argue that its volatile nature and lack of regulation make it a risky investment. However, as more and more institutional investors and major companies start to embrace Bitcoin, it is becoming increasingly difficult to ignore its potential as a valuable asset.
Whether or not Bitcoin will eventually surpass gold in terms of value remains to be seen. But one thing is for sure, its price growth is certainly turning heads and raising possibilities for even greater success in the future. As the saying goes, “history repeats itself,” and if Bitcoin continues to follow in gold’s footsteps, we may just see it reach new heights in the years to come.
Las Vegas man accused of running $24M crypto-linked Ponzi scheme
Meet Brent Kovar, the mastermind behind a Ponzi scheme that promised investors annual returns of 15% to 30%. Through a captivating YouTube video and a convincing PowerPoint presentation, Kovar lured in unsuspecting individuals looking to make a quick profit. However, what seemed like a lucrative opportunity turned out to be a fraudulent scheme that left many investors devastated.
Kovar’s Ponzi scheme was built on the promise of high returns with little to no risk. He claimed to have a secret investment strategy that would guarantee profits, making it seem like a no-brainer for anyone looking to grow their wealth. With the rise of cryptocurrency and the allure of quick gains, many fell for Kovar’s enticing pitch.
But as the saying goes, if it sounds too good to be true, it probably is. And that was the case with Kovar’s scheme. Instead of investing the funds as promised, he used the money to fund his lavish lifestyle, including expensive cars and luxury vacations. As more and more investors poured in their money, Kovar continued to live the high life, leaving a trail of financial ruin in his wake.
The scheme eventually collapsed, and Kovar was arrested and charged with multiple counts of fraud. Many investors lost their life savings, and some even had to declare bankruptcy. The aftermath of Kovar’s deceitful actions serves as a cautionary tale for anyone considering investing in high-risk opportunities.
It’s a reminder to always do thorough research and due diligence before investing your hard-earned money. Don’t fall for promises of quick and easy profits, as they often come with a hefty price. And most importantly, if something seems too good to be true, it probably is. Let Brent Kovar’s story be a lesson to us all.
NYSE proposes rule change to allow ETH staking on Grayscale’s spot Ether ETFs
Asset manager Grayscale plans to introduce staking to its spot Ether ETFs but says it will not guarantee or promote any specific level of returns to investors.