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HTX, the Seychelles-based crypto exchange formerly known as Huobi, has lost $7.9 million worth of ETH to a hacker less than one month after the company’s rebranding. Tron founder and HTX advisor Justin Sun confirmed the hack on Twitter on Monday, however, HTX has covered the losses and all user assets are safe. The hacker’s addresses have been identified and HTX is looking to recover the funds with a 5% reward incentive and a job offer as a security white-hat advisor. Binance CEO Changpeng Zhao also said Binance’s security team would assist in tracking the hacker’s funds where possible. This follows an estimated $54 million in assets lost to hackers connected with North Korea’s Lazarus Group by CoinEX earlier this month. #CryptoExchange #CryptoHack #HTX #Binance

You can read more about this topic here: Decrypt: HTX Loses $7.9 Million To Hacker, Asks For Money Back

The post “Hackers Steal $7.9 Million from HTX – Can They Get Their Money Back?” first appeared on Byte Syze Crypto.

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Coinbase have locked horns over the role that collapsed crypto lender Celsius wants the exchange to play as a distribution agent. In a Friday filing, the top regulator said that Celsius’ plan to use Coinbase as a distribution agent for international customers “ far beyond the services of a distribution agent, contemplating brokerage services and master trading services.” Celsius was one of many companies in the space that went bust last year. It is now working to give back former customers their cash under its new management, and wants Coinbase’s help to do so. But Friday’s filing said that the plan to use Coinbase service may “implicate many of the concerns raised in the SEC’s District Court action against Coinbase”—that is, that the exchange would act as a middleman connecting buyers and sellers of crypto, according to the SEC. The regulator sued the San Francisco-based company in June, alleging that it should have registered as an exchange, clearing house, and broker and that it also sold unregistered securities. Coinbase Chief Legal Officer Paul Grewal said on Twitter Monday that they look forward to addressing this with the bankruptcy court and undertaking their important role to make Celsius customers whole. The SEC—as well as the DOJ, FTC, and the CTFC—hit Celsius with a lawsuit in July, alleging that it repeatedly lied to customers about how safe the platform was and that it sold unregistered securities. Celsius promised investors huge returns and called itself “the safest place for your crypto” but it stopped user withdrawals last June due to “extreme market conditions.” The Department of Justice has since hit its ex-boss Alex Mashinsky with seven criminal charges and frozen his assets.

The SEC and Coinbase are in disagreement over the role Coinbase should play in helping Celsius distribute crypto back to customers. Coinbase Chief Legal Officer Paul Grewal has expressed interest in undertaking this important role, but the SEC has raised concerns that this could implicate its District Court action against Coinbase. The SEC, DOJ, FTC, and CTFC have all filed lawsuits against Celsius, alleging that it lied to customers about safety and sold unregistered securities. The Department of Justice has also hit its ex-boss Alex Mashinsky with seven criminal charges and frozen his assets.

This is bad news for Coinbase as it could mean more legal action against the exchange. It is also not good news for Celsius, as the SEC and other regulators have taken legal action against the company, and its ex-boss has had his assets frozen. For customers of Celsius, this means that there is still uncertainty as to whether they will be able to get their money back.

#SEC #Coinbase #Celsius #Crypto #Fraud

You can read more about this topic here: Decrypt: SEC Objects to Coinbase’s Role in Celsius Bankruptcy Distribution Plan

The post How Coinbase’s Involvement in Celsius Bankruptcy Distribution Plan Raises SEC Objections first appeared on Byte Syze Crypto.

Libbitcoinkernel is an ambitious project to untangle Bitcoin Core’s code, so that much of the “security-critical” code is sliced out from the rest of it. This could make it easier for developers to experiment with changes to Bitcoin, resulting in faster delivery of new features for users. Led by Bitcoin developer Carl Dong, the project has since been taken over by Spiral-backed developer Sebastian Kung, veteran Bitcoin Core contributor Cory Fields, and others. The goal is to extract the consensus code into a separate library, allowing for multiple Bitcoin implementations and increasing resiliency of the network. The project is a years-long, multi-step process and developers expect the full project will take a number of release cycles. #Libbitcoinkernel #BitcoinCore #ConsensusCode #CryptoNews

You can read more about this topic here: Decrypt: This Update Could Change Bitcoin Development Forever

The post Unlock the Potential of Bitcoin Development: This Update Could Change Everything first appeared on Byte Syze Crypto.