Autor Cointelegraph By Arnold Kirimi

BlockFills raises $37 million to support global expansion

BlockFills raises $37 million to support global expansion

Uverejnil používateľ | jan 20, 2022 |

BlockFills, a digital asset electronic market making, trading and prime brokerage, has announced the completion of a $37 million Series A funding round.Institutional investors, including Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures, and Nexo Inc., led the round. Since its inception in 2018, the firm has received a total of $44 million from institutional investors in two funding rounds.We’re excited to announce the successful close of our Series A #funding round totaling $37 million! See how this funding will support our global expansion and help institutions safely and efficiently engage #digitalasset markets: https://t.co/lfXHHxCaS1. #VC #fundingnews— BlockFills (@blockfills) January 19, 2022As per the announcement, the funding round will help Blockfills’ worldwide expansion and support technology debuts aimed at enticing global Fortune 500-sized businesses, hedge fund/asset managers, banks, and other institutions into the digital assets sector as well as miner development.“The successful close of our Series A funding round will help ensure that BlockFills and our technology platforms are industry leading and continue to meet the demand for end-to-end solutions that help institutions safely and efficiently engage digital asset markets,” stated Nick Hammer, co-founder and CEO of BlockFills.The company began as a bootstrapped business and raised its first external capital last year in May. The majority of the investors from that round retained their interest in the firm by investing again this time around. Over the years, it has seen a 400% yearly growth in top-line revenue, with spot trading volumes growing by more than 20 times on an average monthly basis since January 2020. The firm now has over 600 institutional clients.Related: Checkout.com raises $1B in Series D, bringing valuation to $40BIn Nov. 2019, Blockfills teamed up with New York-based fintech firm Tassat to offer an institutional Trade at Settlement service for spot Bitcoin (XBT/USD). At present, Blockfills is concentrating on international growth and technological developments. It went on to say that the new cash will be used to fulfill its objectives of expanding new verticals and strengthening its market position.

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Crypto.com shares details on security breach: 483 accounts compromised

Crypto.com shares details on security breach: 483 accounts compromised

Uverejnil používateľ | jan 20, 2022 |

The Crypto.com security breach saga gets clarity with an official statement from the Singapore-based crypto exchange following a halt on withdrawals after detecting “suspicious activities” in user accounts.In a statement on Thursday, Crypto.com revealed that “4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies” had been taken from clients’ accounts without their permission. The overall loss is presently valued at around $33.8 million, as per the current market value.Following a security breach, several Crypto.com users have made complaints that their money had been stolen. However, the company’s previous responses had failed to quell concerns.Following the 17th of Jan security incident, we are sharing our findings below, together with enhancements we’ve made to our security infrastructure and the introduction of the Worldwide Account Protection Program. https://t.co/6q86r0o59V pic.twitter.com/ER7DkBoX1Z— Crypto.com (@cryptocom) January 20, 2022On Jan. 17, 2022, at around 12:46 AM UTC, Crypto.com’s risk monitoring systems detected “unauthorized activity on a small number of user accounts” where transactions were being authorized without the 2FA authentication control being entered by the user, according to the official document.The exchange proceeded by halting withdrawals and revoking all customer 2FA tokens, adding even more security hardening measures that required everyone to re-login and reactivate their 2FA token before allowing only authorized action, as detailed in the statement. The withdrawal infrastructure was down for a total of 14 hours.To safeguard against such an accident happening again, Crypto.com claims that they have implemented an additional layer of protection in which a new whitelisted withdrawal address must be registered within 24 hours before the first withdrawal.”Users will receive notifications that withdrawal addresses have been added, to give them adequate time to react and respond,” the statement reads. On Wednesday, Kris Marszalek, the CEO of Crypto.com, told Bloomberg that the exchange has not received any communication from regulators about the event. He went on to say that;”Obviously, it’s a great lesson, and we are continuously strengthening our infrastructure.”Related: Secret Network offers $400M in funding to bring others in on the secretAccording to PeckShield, over $15 million worth of ETH has been stolen. On Monday, the blockchain security firm tweeted that roughly half of the funds had been sent to Tornado Cash “to be washed.” Another analyst from blockchain data firm OXT Research stated that the heist may have cost the exchange $33 million in stolen assets.

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Crypto.com breach may be worth up to $33M, suggests onchain analyst

Crypto.com breach may be worth up to $33M, suggests onchain analyst

Uverejnil používateľ | jan 19, 2022 |

Onchain analyst claims that Crypto.com’s loss in the latest security breach might have been worth more than the reported $15 million.Pseudonymous ErgoBTC, an on-chain analyst at Bitcoin (BTC) research firm OXT Research, claims that the Crypto.com security breach that was said to have resulted in the loss of 4.6K ETH ($15 million), may be worth up to $33 million.Adding another 444 BTC to the previously reported 4.6k ETH from yesterday’s @cryptocom hack.Still no acknowledgement of loss, despite large outflows from the custodial wallet into ETH’s Tornado Cash and a well known BTC tumbler (as detailed below). pic.twitter.com/GalJKM6bi9— ∴Ergo∴ (@ErgoBTC) January 18, 2022On Monday, reports emerged that Crypto.com had halted withdrawals “after a small number of users” experienced suspicious transactions on their accounts. The cryptocurrency exchange has since resumed withdrawals and confirmed that its users’ money was ‘safe,’ but reports emerged later that it had lost 4.6K ETH ($15 million) and was being laundered using Tornado Cash.ErgoBTC tweeted on Tuesday suggesting that another 444 BTC ($18.5 million) had been stolen from Crypto.com’s payout wallet. ErgoBTC said that OXT Research discovered a suspicious transaction of 52.55 BTC ($2.18 million) from Crypto.com’s custodial wallet.Following the transaction, “several hundred withdrawals” were made which were then combined into four outputs worth 67.75 BTC ($2.81 million) each, as per ErgoBTC. The four batches amounted to 271 BTC ($11.25 million), all of which were laundered via Bitcoin tumbler- a service that allows customers to combine several transactions and make it more difficult for investigators to trace Bitcoin transfers.The Bitcoin tumbler allegedly utilized by the alleged perpetrators to wash the 271 BTC is a well-known tool employed by the North Korean cybercrime syndicate, Lazarus, according to ErgoBTC’s tweet.According to ErgoBTC, the criminals behind the Crypto.com security breach also controlled another address holding 172.9 BTC ($7.25 million). Blockchair data reveals that the address received the funds at about the same time as the other transactions linked to the Crypto.com hack. However, as of the publishing of this article, the purported hacker has not transferred the funds through a bitcoin tumbling service yet.Related: ImmuneFi report $10B in DeFi hacks and losses across 2021At the time of publishing Crypto.com is yet to acknowledge any losses. Cointelegraph reached out to Crypto.com for more details regarding its decision to halt withdrawals, but did not receive a response as of publishing time. This article will be updated pending new information.

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Singapore crypto ATMs shut down after central bank crackdown

Singapore crypto ATMs shut down after central bank crackdown

Uverejnil používateľ | jan 19, 2022 |

The Monetary Authority of Singapore has reportedly decided to shut down cryptocurrency automatic teller machines in the city-state.According to Bloomberg, to comply with new regulations issued by the Monetary Authority of Singapore (MAS), Singapore’s central bank, cryptocurrency ATM operators in the country were forced to shut down their operations on Tuesday.The new clampdown on cryptocurrency ATMs sparked several reactions from the city’s cryptocurrency operators, with Daenerys & Co saying it was “surprised” and canceling its ATM service on Tuesday evening. Its main competitor, Deodi, switched off its ATM network and sent staff to remove its crypto ATMs.The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public. On Monday, the central bank released new guidance that bans crypto firms from advertising their services in public places, websites and social networks.Singapore’s souring on crypto, however, is more of a surprise. Coincub, a fintech startup based in the city-state, named Singapore the most crypto-friendly country in the world in December, owing to the city’s “good legislative environment” and “high rate of cryptocurrency adoption.” However, the legislative climate in the city-state appears to be cloudier right now.Related: UK advertiser ASA continues crypto ad banning spreeCointelegraph reached out to the MAS for more information but did not receive a response as of publishing time. This article will be updated if new details emerge.The clampdown in Singapore came soon after similar advertising limitations were enacted in Spain and the United Kingdom. On Monday, the Spanish government required crypto businesses to submit ad campaigns for regulatory approval 10 days in advance, while the U.K. launched a review of cryptocurrency advertising norms, vowing to crack down on products with deceptive claims.

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Mercedes partners with NFT artists to celebrate G-Class series

Mercedes partners with NFT artists to celebrate G-Class series

Uverejnil používateľ | jan 18, 2022 |

Mercedes has teamed up with Art2People to create an exclusive Mercedes-Benz NFT collection based on its G-Class vehicle line, according to a tweet by the luxury automobile manufacturer. Five artists were commissioned to create various G-Class-inspired works in a range of media, resulting in unique designs for each artwork.What happens when five #NFT artists take on the challenge of reinterpreting the iconic #GClass?The NF-G Challenge by @art2people_xyz@antonitudisco @baugasm @klarens_malluta @StudioCTaylor X @StudioZyva @kilimanjaroger @macomoroni @niftygateway➡️ https://t.co/HrD56AIPGi pic.twitter.com/mV0f8ig6KT— Mercedes-Benz (@MercedesBenz) January 17, 2022For this project, five artists from the NFT industry were selected to interpret the G-Class in their own style. The artists involved come from diverse areas, such as music, fashion, graphic design, architecture, creative marketing, luxury design and real estate. The artists include Charlotte Taylor, Anthony Authie, Roger Kilimanjaro, Baugasm and Germany-based Antoni Tudisco. Nifty Gateway and Mercedes will launch the NFTs on Sunday.Related: Korean Bithumb exchange to launch NFT marketplaceMercedes is not the first major brand to be involved with NFTs. In June 2021, McLaren unveiled its intention to utilize NFTs to create virtual versions of its legendary F1 automobiles. In July 2021, Coca-Cola launched a unique NFT initiative to raise money for Special Olympics International.This isn’t the first time Mercedes-Benz has been involved with blockchain technology. The car manufacturer teamed up with blockchain startup Circulor to launch a trial to ensure that cobalt emissions are tracked throughout the supply chain.

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