China News Official Today TheBitTimes.com

This week, CoinEX and investor Mark Cuban were counting losses as hacks persisted. Despite these setbacks, Deutsche Bank, PayPal, and Franklin stepped into the crypto limelight.  A slew of hacks Much like the previous weeks, crypto-related hacks dominated the scene this week. Vitalik Buterin, co-founder of Ethereum, faced a cybersecurity breach on his X account.  Sadly, this breach resulted in significant financial losses, totaling $691,000 for unsuspecting users who fell victim to a phishing scam spread by the hackers using Buterin’s account. Shortly after the attack on Buterin’s X account, reports revealed that Seychelles-based crypto exchange Remitano had fallen victim to a hack, leading to up to $2.7 million in losses. The attack occurred on Sept. 14 and involved the movement of tokens such as USDT and USDC across three chains. Furthermore, hackers leveraged a flaw in GALA’s contract following the project’s recent upgrade which resulted in the cre...

Lennix Lai, managing director of Global Institutional at OKX spoke with Cointelegraph about what it means to be transparent in a post-FTX and SVB crypto industry. The global Cryptocurrency Exchange OKX released its fifth edition of its proof- of- reserves (PoR) report, which it began releasing in Nov. 2022 in its effort for more Transparency in the industry.  According to the latest edition, OKX holds $8.9 billion across Bitcoin (BTC), Ethereum (ETH) and the Tether stablecoin (USDT). This puts the reserve ratios of BTC, ETH and USDT at 103%, 103% and 102%, respectively. This latest release also comes as the exchange upgraded its PoR system with more transparency by making full liabilities (i.e. the total balance of user deposits) publicly accessible. Cointelegraph spoke with Lennix Lai, the managing director of Global Institutional at OKX, regarding these extra steps towards transparency. Lai said that recent events in industry highlight that, “crypto-native challenges require cry...