Is South Korean Exchange Hack Responsible for Bitcoin Price Plunge? 825

Bitcoin price plunge over the weekend is generally being linked to another cryptocurrency exchange hack in South Korea. This time it was a smaller exchange called Coinrail that was breached by blackhats who made off with over $40 million in altcoins which may have caused the massive sell-off on Sunday leaving a trail of red all through the top 100 trading cryptocurrencies.

Hack Aimed at User Accounts

Coinrail is a relatively obscure exchange that trades 50 coins and is ranked 98th in the world with a 24-hour volume of about $2.65 million, according to data from Coinmarketcap.com. The news came first from the exchanges own Twitter account where they announced that there had been a “cyber Intrusion” and some coins where confirmed jeopardized.

해킹공격시도로 인한 시스템 점검중입니다. 일부코인(펀디엑스,NPXS)이 확인되었으며 추가적인 코인피해가 있는지 여부를 확인중입니다. 추후 자세한 사항은 재공지하겠습니다 / There has been an cyber intrusion in our system. We're confirming it and some coins(Pundi X, NPXS) are confirmed.

— coinrail (@Coinrail_Korea) June 10, 2018

Further information followed which broke down the haul of altcoins. First on the list is $19.5 million worth of NPXS tokens issued through an ICO held by payments startup Pundi X. Then another $13.8 million of an ICO generated coin called Aston X used on a platform to decentralize documents. These followed by $5.8 million of Dent tokens and $1.1 million of Tron. There were also smaller amounts of five other tokens pilfered in the attack.

Similar to the Coincheck hack earlier this year in Japan the issuing companies weren’t hacked, the tokens were stolen from user accounts held by the exchange. Coinrail has responded to the hack by taking its service offline and moving the remainder of its assets – which it tallies as 70% of its total holdings – into cold storage as an investigation is conducted into the crime.

ICOs Proactively Respond

Pundi has reported that it has frozen the nearly $20 million worth of its tokens stolen and ceased trading across all exchanges in order to assist the South Korean police with their investigation. Aston and NPER also reported that they would freeze their stolen tokens with NPER which lost $860,000 adding that it would incinerate their lost tokens to make them useless to the thieves.

It is as yet unclear whether or not Coinrail will follow the precedent set by Coincheck in refunding it’s users the value of their stolen coins. As a still unregulated currency digital tokens are not insured by any government which means that when they are stolen there is no agency to turn to for a refund.

The hack which was relatively small when compared to the legendary Mt. Gox or Coincheck theft is widely being blamed for the plunge in Bitcoin and consequently every other coin price trading in the top 100.  Some skeptics on social media doubt whether a breach in the security of such an obscure exchange could be responsible for the loss of what Fortune magazine reported to be $115 billion market wide but in crypto world, the smallest pebble can cause a mighty wave.

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BitKeep becomes new wallet partner of OpenSea 1237

On Nov. 30, BitKeep, the world’s leading Web3 multichain wallet, announced a new strategic partnership with OpenSea, the world’s leading peer-to-peer marketplace for nonfungible tokens. With a plan to grow the global NFT ecosystem, the two parties will start cooperating on BNB Chain in this initial phase.

Both platforms intend to improve market liquidity through aggregation via their partnership. OpenSea has added a link to the BitKeep Chrome extension, officially recommending BitKeep as a multichain wallet. At the same time, users can directly trade NFTs on OpenSea through the BitKeep NFT Market without paying additional transaction fees. Regarding the business expansion of OpenSea on BNB Chain, BitKeep will strongly support and join hands with OpenSea to provide a convenient, easy-to-use platform for NFT Traders on BNB Chain. Seaport integration is also a focus of mutual attention. OpenSea will provide multichain development support for BitKeep to migrate its NFT Market protocol to Seaport.

BitKeep intends to complete the migration to Seaport by Dec. 31, 2022.

BitKeep chief operating officer Moka said: “BitKeep is honored to be the wallet partner of OpenSea, the dominant marketplace in the NFT field. This partnership will surely expand our presence in the global NFT market. OpenSea will also benefit from this relationship, as BitKeep is the primary Web3 gateway in Asia, with rich and inclusive features and a compelling user experience.”

Moka added: “BitKeep currently has 7 million users from 168 countries. Asian users prefer mobile apps. So naturally, through our cooperation, OpenSea will get closer to them. Asian NFT investors will get a seamless and convenient trading experience on OpenSea with the BitKeep app, which will bring more users to OpenSea.”

In addition to technical cooperation, the two sides also discussed community cooperation, initial NFT offerings, airdrop activities, NFT transaction incentives, etc. More details regarding these joint efforts will be available soon.

About BitKeep NFT Market

The BitKeep NFT Market launched in the BitKeep app in February 2022. With a bulk listing feature, it supports major blockchains — including Ethereum, Polygon, BNB Chain and Klaytn — and allows users to purchase NFTs with any token on the same chain. Committed to delivering significant benefits and value to users, BitKeep then launched its Mints section to promote premium projects for users to gain early access. In response to the liquidity shortage in the NFT space, BitKeep initiated campaigns like NFT trading dividends and “$1 Million Incentives” to offer incentives to NFT traders.

BitKeep NFT Market, with its remarkable performance, is now one of the core features of BitKeep. It has more than 320,000 NFTs listed for sale, more than 1.6 million NFTs stored and $15 million in monthly trading volume, representing the largest NFT trading market on BNB Chain and the third-largest on Polygon in terms of user base and trading volume.

About OpenSea

OpenSea is the world’s leading peer-to-peer marketplace for NFTs. OpenSea is on a mission to help the world’s creators, collectors and collaborators own and shape their relationships directly. It’s building the world’s most trusted and inclusive NFT marketplace with the best selection — making minting, purchasing and selling NFTs frictionless and friendly and offering unmatched selection and multichain options for creators and collectors of all kinds. Headquartered in New York, the OpenSea leadership team comes from Google, Palantir, Lyft, Uber, Stanford and Berkeley. Investors include a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation and Blockchain Capital.

Magic Eden Launches Open Creator Protocol to Enforce Royalties for New Solana NFT Collections 1426

Today, Magic Eden (“The Company”), the leading cross-chain NFT platform, launched the Open Creator Protocol in response to recent royalty enforcement changes in the NFT landscape. The Open Creator Protocol (OCP) is an open source tool built on top of Solana’s SPL managed-token standard. Creators launching new collections who opt in to using the protocol will be able to protect their royalties and enjoy additional features including dynamic royalties and customizable token transferability.

“The Solana community has been waiting for solutions to NFT royalties,” Jack Lu, CEO and Co-Founder of Magic Eden commented. “We have been in active conversations with multiple ecosystem partners to identify solutions for creators in a timely manner. Our intention with Open Creator Protocol is to immediately support royalties for creators launching new collections, while continuing to coordinate with ecosystem partners for more solutions.”

The Open Creator Protocol, which will impact creators launching new collections, will be available starting December 2. Magic Eden will enforce royalties on all collections who adopt the protocol and allow creators to ban marketplaces that have not enforced royalties on their collection. For new collections that don’t adopt OCP, royalties will remain optional on Magic Eden. At the same time, Magic Eden will also welcome the inclusion of other future royalty enforcement protocols that emerge and gain market adoption.

Open Creator Protocol includes additional features beyond royalty enforcement, including dynamic royalties and customizable token transferability. The dynamic royalties feature will specify a relationship between an NFT’s sale price and royalty amount via a linear price curve, potentially reducing the nominal value of royalties for buyers who pay a higher price for the NFT. Customizable transferability can include many use cases, such as the collection’s tokens remaining untradable before mint closes, or limitations on tradability by time, total number of trades, or metadata text. This can create fun ways for creators to gamify the rules of their own collection’s trading behavior. Magic Eden is also unveiling bulk transfers on the platform so collectors can move their NFTs freely for collections using the Open Creator Protocol.

Upon launch, Magic Eden will be hosting “Magic Mint”, a free mint for users to pilot the Open Creator Protocol and its many features, including protected royalties, dynamic royalties, and customized transferability. The mint will supply a couple thousand gift boxes, some of which will contain prizes including a free MacBook Air laptop, whitelist access to the Tomorrowland’s December mint (The Symbol of Love and Unity), access to Genopet’s game, and free NFTs from Degen Trash Panda and Liberty Square. The collection will have enforced royalties per the Open Creator Protocol.

About Magic Eden

Magic Eden is the leading cross-chain NFT platform driving the next billion users to Web3. Led by former crypto, tech, and hospitality leaders, Magic Eden is building a user-friendly platform powered by market-leading minting and trading solutions. Magic Eden brings dynamic cultural moments onto the blockchain, empowering users across thousands of digital communities to create, discover and collect unique NFTs. For more information, please visit  www.magiceden.io.

Utherverse Partners with Leading Blockchain Platform Tokensoft to Launch International IDO for Much Anticipated Metaverse Native Token 1501

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Uther Coin (UTHX) now available on Tokensoft

NEW YORK, Nov. 30, 2022 – Utherverse, one of the largest metaverse platforms in the world, has signed a partnership agreement with Tokensoft, Inc., the leading technology platform for launching digital assets on the blockchain, to offer the first and second pre-sale rounds of the Uther Coin (UTHX) as part of the token’s initial decentralized offering (IDO).

Uther Coin will be the primary token used for transactions throughout the next generation Utherverse Software Platform. Utherverse powers the most popular and advanced metaverses ever built, and as such, Uther Coin will be needed by everyone accessing what will be the preeminent Metaverse as of next year.

As part of the agreement, a pre-sale of Uther Coins will be made available to buyers outside the United States and Canada beginning December 1. Interested persons should go to https://www.utherverse.io/UTHX to get approved and listed for the sale.

“Tokensoft has proven itself a credible resource for IDOs that delivers on its promises and the recent launch of its Web3-enabled platform makes it one of the strongest performers out there,” said Brian Shuster, founder and CEO of Utherverse. “We are anticipating a tremendous response to Uther Coin from our international community. Utherverse is going to significantly change the metaverse landscape once again, and our coin will likely be a top performer among all IDOs on the platform as we approach the launch of the next generation of the Utherverse metaverse.”

Founded in 2017, Tokensoft is a technology platform for creating and managing digital assets, based in Austin, Texas. The Tokensoft platform helps customers to comply with applicable regulations internationally to access a global userbase. To date, Tokensoft has helped create over $18 Billion in market capitalization with projects such as Avalanche, The Graph and Moonbeam.

Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetize their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices. The Utherverse platform was launched in 2005 by internet visionary Brian Shuster. A beta version of the next generation Utherverse platform is expected to launch in early 2023. The platform has served 50 million+ users with 32 billion+ virtual commerce transactions. Utherverse has developed the technology and received more than 40 patents critical toward operating large-scale metaverses. The company is based in British Columbia, Canada. More information can be found online at Utherverse.io; Twitter/Instagram: @Utherverse; Facebook: /UtherverseDigital; LinkedIn: /utherverse-digital-inc/; Telegram: /UtherverseAnnouncements; Discord: /Utherverse.io.

# # #

Note: Digital assets to accompany this story are available at http://utherverse.pressrep.net.

Contact:
Steve Honig
The Honig Company, LLC
818-986-4300
[email protected]

Dash 2 Trade presale raises over $7.5M, ends soon due to unprecedented demand 1492

Crypto-intelligence platform Dash 2 Trade continues to make waves after announcing that it will soon end its presale due to unprecedented investor demand.

With over $7.5 million in funding raised since the presale commenced, Dash 2 Trade’s team has opted to bring forward the platform’s release to aid traders and investors during today’s volatile trading environment.

All eyes will be on the development team’s next move since major centralized exchange (CEX) listings and a dashboard beta are now confirmed.

Unprecedented market conditions prompt hard-cap revision

Most (if not all) crypto investors will be aware of the ongoing volatility stemming from FTX’s collapse. This volatility has created a challenging investment environment for everyone — but particularly for beginner traders.

Due to this, Dash 2 Trade’s team has opted to cut the presale hard cap to $13.4 million. This means that the presale phase will end after Stage 4 rather than Stage 9, which was initially planned.

At the time of writing, Dash 2 Trade is still in Stage 3, meaning early investors can buy D2T tokens for just $0.0513. However, once the presale moves into Stage 4, D2T’s price will increase to $0.0533. Ultimately, this means that purchasing D2T now will enable investors to get in at the lowest price point possible.

Upcoming beta phase for Dash 2 Trade’s features

The creation of Dash 2 Trade’s crypto analytics ecosystem has gathered pace in recent weeks, with the development team revealing that the ecosystem will be ready to launch much quicker than initially anticipated.

As per Dash 2 Trade’s roadmap, certain features will enter a beta phase in the coming weeks, enabling traders and investors to get a taste of what the complete ecosystem will offer.

To this end, Dash 2 Trade has bought on board Ilyes Kooli as the project’s new chief technology officer. Kooli has extensive experience within the crypto market, having previously held a prominent role at ConsenSys.

By combining Kooli’s expertise with the experience of Dash 2 Trade’s team, there’s a genuine belief that the upcoming crypto analytics platform could reshape the trading experience for millions of investors worldwide.

Major CEX listings are already confirmed

However, Dash 2 Trade isn’t stopping there. Recently, major CEX LBank announced that it would list D2T tokens “soon.”

Not only that, but BitMart has also opted to get on board and will soon list D2T tokens.

LBank and BitMart are both listed by CoinMarketCap as two of the world’s top 25 crypto exchanges as measured by daily trading volume. With over 3.3 million weekly visits between them, the listing of D2T is sure to dramatically boost awareness.

However, as noted on Dash 2 Trade’s website, the team plans to make this just the beginning of a historical journey by facilitating additional centralized and decentralized exchange listings in Q1 2023. The liquidity these listings provide would be a significant driver of price, which is why investors worldwide are so hyped about D2T’s future.

An all-in-one crypto analytics ecosystem set to revolutionize the industry

But why are CEXs so eager to list D2T tokens ahead of the project’s official launch? The main reason for this appears to be Dash 2 Trade’s unique use case, which is needed more than ever following FTX’s collapse.

Dash 2 Trade’s ecosystem has been specifically designed to help traders navigate challenging market conditions. The ecosystem’s features empower traders to identify trending cryptocurrencies and develop strategies to trade them effectively.

In addition, Dash 2 Trade will feature a custom-built presale scoreboard that employs an array of metrics to help traders assess whether a new project is up to scratch. The ecosystem will even offer regular trading signals and an exclusive Discord server where individuals can network and share ideas.

Since Dash 2 Trade is being developed by the team behind Learn 2 Trade, a 70,000-strong trading education company, there’s a fundamental belief that the platform could become the go-to for beginners and advanced investors.

New website and community manager highlight Dash 2 Trade’s ambitions

Dash 2 Trade’s development team hasn’t just been focusing on the analytics ecosystem — they’ve also made some huge moves from a marketing perspective.

Firstly, Dash 2 Trade has recently launched a brand-new website, complete with a breakdown of what the platform does and how investors can get involved in the ongoing presale. The website also provides access to Dash 2 Trade’s white paper and roadmap.

Moreover, Dash 2 Trade’s team has a clear focus on safety and reliability, evidenced by the contract code being fully audited by SolidProof. The team is also Know Your Customer-verified by CoinSniper.

Secondly, Trevor M. has been brought on board to expand Dash 2 Trade’s reach and grow its social channels. Trevor is a well-known video producer working for CoinMarketCap and runs a successful YouTube channel.

Trevor’s knowledge of the crypto market and ability to simplify complex topics will likely be invaluable when introducing new traders to the Dash 2 Trade ecosystem. For those already familiar with it, this is another massive step toward making Dash 2 Trade a global phenomenon.

How to buy D2T — A quick step-by-step Guide

Those looking to get involved in the Dash 2 Trade presale and buy D2T tokens at a discount can do so by following the four steps below:

  • Step 1 — Create a crypto wallet: Download and set up a MetaMask wallet (desktop users) or a Trust Wallet (mobile users). Once set up, import the D2T token contract address, which can be found on the Dash 2 Trade website.
  • Step 2 — Obtain Crypto: Buy Ether (ETH) or Tether (USDT) from a broker or exchange or using a credit or debit card directly through D2T’s website.
  • Step 3 — Link wallet to the presale dashboard: Click “Connect Wallet” and follow the instructions.
  • Step 4 — Buy D2T tokens: Click “Buy with ETH” or “Buy with USDT” and confirm the transaction.

Website: https://dash2trade.com/
White paper: https://dash2trade.com/assets/documents/Whitepaper.pdf

BankLine Expands Partnerships in Wake of FTX 1612

In light of the recent bankruptcy of FTX and their affiliated companies, which may have repercussions for banks with similar liquidity exposure, BankLine ensures its clients maintain stable banking by increasing its portfolio of crypto-friendly partner financial institutions.

BankLine recently added two additional crypto-friendly partner banks to their portfolio, providing a level of redundancy and stability to their clients which cannot be achieved by a single bank provider.

Operating under a more conservative business model, BankLine’s partner banks avoid lending to riskier sectors of the cryptocurrency industry, averting potential bankruptcies such as those recently experienced by FTX.

BankLine and their partner financial institutions are well-positioned to continue servicing their customers. Each of BankLine’s partner banks are well-capitalized, FDIC-insured financial institutions which strictly adhere to all federal regulations.

Over 15 years of MSB and high-risk banking provide the experience, insight, and motivation for BankLine to continuously seek quality bank partners, ensuring their clients always maintain stable banking relationships that allow them to scale their business.

Expanded Services

BankLine has also recently added cannabis-friendly banks to their portfolio, allowing crypto ATM operators the ability to confidently operate in licensed cannabis-related businesses.

As crypto ATM businesses expand into new markets and opportunities, BankLine’s services continue to evolve to support their customers’ needs, making BankLine the leader in crypto-friendly banking and cash logistics services.

“Our extensive history in the MSB banking sector makes us keenly sensitive to industry and bank volatility. Our key objective is to provide our clients with secure banking partners should any potential disruption arise. By providing our clients with banking redundancy, they have security and peace of mind which allows them to focus on other aspects of their business,” said Mark Ochab, President and CEO of BankLine.

About BankLine

BankLine is the only crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the varied needs of the crypto industry. BankLine’s network of crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.

Each BankLine customer has a direct relationship at an FDIC-insured depository institution. The accounts are titled in the business entity’s name and are exclusive for the entity’s activity.

By contracting with more than 350 Cash Vault facilities managed by Loomis, Brinks, and Garda. BankLine’s banks currently provide service to more than 32,000 BTM locations in the continental U.S., Hawaii, Alaska and Puerto Rico.

In addition, BankLine’s partner banks provide over the counter services for online crypto companies.

Learn more at bankline.com

Xult: A gateway to an ultimate crypto trading platform 1600

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Following the greatest revolution of the 21st century, decentralization of the financial institutions came into the picture. This led to the creation of various other cryptocurrencies and multiple digital exchange platforms for the trading of decentralized cryptocurrencies.

Since then various crypto exchange platforms were introduced to the public. However, there were only a few platforms that provided the liberty of trading in the hands of the traders. Xult is one such platform that runs with the motto of allowing traders to trade the way they want.

With the team’s continuous efforts Xult has been launched as an intuitive platform. Users can enter one of the most hassle-free and user-friendly cryptocurrency exchanges and enjoy the perks of various trading tools by going through a simple registration process on the platform.

A stand-out modular dashboard

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The whole new dashboard of Xult is curated to provide users with the ultimate usability. The easy-to-use interface of the platform makes it easier for both newbies and experts to trade seamlessly on the platform. Besides the dashboard, the performance trading screen is also fully modular, resulting in users experiencing a customizable workflow that matches their needs.

With various options, and filters, available on the dashboard, traders can change the layout of the page and choose the visible tabs, and fall in love with the simple yet advanced personalized dashboard accommodating their specific preferences.

Keeping digital safety at utmost priority, Xult offers a trustworthy Identity Verification Service, where traders can take advantage of Two Factor Authentication (2FA). The latter is a great tool for users to lock their accounts with not only passwords but an additional verification layer. This way users can get access to the ultimate trading dashboard without having to worry about their account security.

Favorable price charts

Xult provides users with a price chart created by TradingView to ensure accuracy and consistency. The chart is compatible with all users from beginners to experts. There are various features applied on the price chart toolbar that make trading easier.

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Users can spot a currency selector on the top of the price chart and pick their favorite cryptocurrency pairs along with some convenient shortcuts. Additionally, users can also just tap on the ticker symbol of the currency in which they are interested to trade. Besides the currency, there’s a basic information section about the chosen digital currency, such as 24h change, the highest and lowest 24h prices, and the corresponding volume.

Surrounded by toolbars, the price chart gives an insight into the technical analysis tools. The top and bottom ones enable users to choose the style of the chart and set some basic parameters, such as the time interval and visible indicator panes. The left-hand one incorporates various drawing tools for users to conduct advanced technical analysis.

Key features and its use-cases

Xult comes in with some unique features, along with its use cases that make trading a cakewalk.

  • Privacy coin support: Xult works with a mission to safeguard users’ privacy and offer cryptocurrencies that take protection very seriously. This way the platform helps users to trade on the platform without worrying much about security.
  • Confidentiality: The algorithms are designed in a way to ensure that users can verify the credibility of the transaction. This will not only benefit the user community, but also secure traders’ sensitive information without any need for expansive collection and storage. The Know Your Client regulations, makes it easier for the platform to collect data that are absolutely necessary to protect the users against scam or otherwise illicit transactions.
  • Fees minimization: Xult offers users massive discounts for their transactional fees. To be a part of this massive discount, users just need to choose the EXCC cryptocurrency and avail of the 50% fee reduction. EXCC is not just another altcoin, but the continuous development and enhancement services add more value to the overall project.

About Xult

Xult is a decentralized cryptocurrency exchange platform that comes with a user-friendly UI/UX. The Xult ecosystem is integrated with both Xult and ExchangeCoin (EXCC). The latter has been in the market for almost 5 years and has built an excellent user community so far. EXCC is a decentralized and open-source token that readily verifies its code and its developer’s intentions.

When it comes to Xult as a platform it offers users various features and use cases aforementioned. These features offer multiple advantages to the users such as ‘quick trading’ which enables traders to place orders of their choice, ‘wallets’ which keeps a check on the balance of digital currencies in the wallets, and the ‘history’ tab for tracking all the previous transactions.

Additionally, ‘Performance Trading’ ensures users are opened to an advanced interface that enables placing orders with specific parameters. With the ‘market’ feature, traders can access the table which highlights the quotations for all pairs of digital currencies supported by the platform.

All these summed up together provides ground for Xult being a hassle-free trading platform along with the users enjoying the liberty of optimum trading.

For more information on Xult, visit the following:

Website: https://xult.com/
Twitter: https://twitter.com/XultExchange
Telegram: https://t.me/xult_com
Discord: https://discord.com/invite/3Zs8AfqUby