Category: AI

ThepersonbehindtherecentRadiantCapitalexploithasreportedlymovednearlyallofthestolencrypto,valuedatabout$52million,fromLayer-2networkstoEthereum. BlockchainsecurityfirmPeckShieldsharedtheinformationonOctober24,furtherdampeninganyhopesofrecoveringthefunds. AttackerAlmostDoneBridgingStolenFunds AccordingtoPeckShield,theattacker’son-chainfootprintshowedtheyhadbridgedabout20,500ETHtokensfromArbitrumandBinance’sBNBChaintoEthereum.ThefundswerepartoftheOctober16attackthatcompromisedRadiantCapital’ssmartcontracts. Anotherblockchainsecuritycompany,AnciliaInc.,wasthefirsttodetectthesuspiciousactivity,whichinitiallyresultedinthelossofatleast$18millionworthofcryptoassetsfromRadiant’sliquiditypoolontheBinancenetwork.Thehackerthenextendedtheattacktothedecentralizedfinance(DeFi)protocol’spoolonArbitrum,furtherescalatingthelosses. Apost-mortemoftheattackshowedthattheperpetratorgainedcontrolbycompromisingamulti-signaturewalletthatsecuredRadiant’sfunds.Theywerethenabletoobtaintheprivatekeysofthreeoutofelevensigners,givingthemtheabilitytoupgradetheplatform’scontractsandtransferownership. Itenabledthebadactortodrainseveraltradingpools,includingthoseholdingpopularassetssuchasUSDC,USDT,wBTC,wETH,andBNB. RecoveryEffortsinJeopardy? TheOctober16incidentisthesecondtimehackershavetargetedRadiantthisyear.InJanuary,theDeFiplatformlost$4.5millionduetoavulnerabilityinitssmartcontract. ThecompanyhassinceengagedwithU.S.lawenforcement,includingtheFBI,andpartneredwithcybersecurityoutfitslikeSEAL911andZeroShadowinanattempttorecoverthestolenmoney. However,thethief’smovetoEthereumsuggeststheymaybetryingtohidetheirtrail,makingrecoveryeffortsthatmuchharder.Further,Radianthasadmittedthat,giventhesophisticationoftheexecution,eventheincreasedsecuritymeasuresithasnowputinplacemaynothavebeenenoughtopreventtheexploit. MovingfundstoEthereumisoftenthelaststepbeforecriminalslaunderstolenmoneythroughcryptomixerslikeTornadoCash.CryptoPotatohasreportedsuchincidentsinthepast,includingtheinfamous$235millionWazirXhackerwhotransferredtheirillicitgainsinbatchessincetheystoleitinmid-July. cryptopotato.com

MicrosoftshareholdersaresettovoteonaproposaltoassessBitcoin(BTC)asapotentialcorporateinvestmentatthetechgiant’supcomingannualmeetingattheendoftheyear,accordingtoanOct.24regulatoryfiling. Theproposal,filedbyashareholderadvisoryboard,callsforadetailedevaluationoftheflagshipcrypto’spotentialrolewithinMicrosoft’streasuryoperations. However,theboardofdirectorshasrecommendedagainstthemove,statingthatitstreasuryalreadyassessesavarietyofassets,includingcryptocurrencieslikeBitcoin.TheboardemphasizedBitcoin’svolatilityandarguedthatthecompany’scurrentprocessesensurefinancialstabilitywithouttheneedforfurtherreview. Initsoppositionstatement,theboardstressedtheimportanceofstabilityincorporatetreasuryoperations,notingthathighlyvolatileassetslikeBitcoinarelesssuitableforensuringliquidityandoperationalfunding. Microsoft’sGlobalTreasuryandInvestmentServicesteamalreadyevaluatesawiderangeofassets,includingthosethatprovidediversificationandinflationprotection.TheteamhaspreviouslyconsideredBitcoinandotherdigitalassetsaspartofitsriskmanagementprocess,anditcontinuestomonitormarkettrendsinthisspace. Microsoft’sannualshareholdermeetingonDec.10willalsocoverothersignificanttopics,suchasgovernanceandexecutivecompensation,buttheBitcoinproposalhasbecomeafocalpointasconversationsaroundcorporatecryptoadoptionintensify. Risinginterestamidcaution Microsofthastraditionallytakenaconservativeapproachtoitsfinancialmanagement,withsignificantcashreservesinvestedinlow-riskassetslikebonds.Theboard’soppositiontoBitcoininvestmentreflectsthisbroaderstrategyofprioritizingstabilityoverpotentiallyhighbutunpredictablereturns. Historically,Bitcoinhasseenextremepriceswings,makingitariskyassetforcorporatetreasuryfunctions,whichtypicallyprioritizeliquidityandstability.Forinstance,Bitcoinreachedover$69,000in2021butdroppedbelow$30,000multipletimesinthefollowingyears.Thiskindofvolatilitycanposesignificantrisksforcompaniesmanagingoperationalexpensesormakinglong-terminvestments. Despitetherisks,institutionalinterestinBitcoincontinuestorise.Hedgefundsandfinancialinstitutionshaveincreasinglyintegratedcryptocurrenciesintotheirportfolios.However,manycorporationsremaincautiousduetotheoperationalrisksassociatedwithhighvolatility,unpredictableregulatorylandscapes,andconcernsovercybersecurity. Whilesomecompanieshaveembracedcryptocurrencies,othershaveadopteda“waitandsee”approach.Theevolvingtechnologybehindcryptocurrencies,includingadvancementsinblockchain,hasledtogreaterinterestinitsapplications,buttheuncertaintyaroundmarketadoptionandregulationkeepscompanieslikeMicrosoftonthefence. cryptoslate.com

Solana’sbullishpennantandflagpatternssignalpotentialpricetargetsof$180and$195onthe1-hourchart. Theinverseheadandshouldersformationsuggestsanupwardbreakout,providingastronglongentrypoint. TradersarecloselywatchingforSolana’spricetohit$180soon,withalonger-termtargetof$195followingthebullishmomentum. TheprospectsofSolanatoreachnewhighsarepossibletoreadfromthetechnicalindicatorsonthe1-hourcharttargeting$180and$195.Themarkethasformedtwoprominentpatterns:abullishpennantandabullishflagasitpointstoasolidsupportonthehighertimeframesasSolanacontinuestouptrend.Manytradersandanalystsarefocusingonthesekindsofpatternsinordertodeterminethenextsteptobetaken. BullishPatternsDrivingMomentum TwotechnicalformationsthatarerelevanttodayintheSolanamarketarethebullishpennantandbullishflagpatterns.Thesepatternspointtomoreupsidepriceaction,atleasttothe$195leveloncethebullishpennantformiscompleted.Theothershorter-termbullishflagaimsat$180whichisexpectedtobeachievedsoon. #SolanaTA:Targetsat$195outtheBullishPennantonthe1hr.Targetof$180outtheBullishFlagabouttoberealized. Note:InverseHeadandShouldersisthemostpopularcryptomarketmakerpatterntoshakeoutretail.Learnit.DONOTGETSHAKENOUTONTHEH&S! Tradeit.…pic.twitter.com/mHFkB339uw —MartyParty(@martypartymusic)October24,2024 AnotherinterestingpatterndistinctfromtheH&SformationthatisclearlyvisiblefromthechartisaninverseH&Sformationwhichinformsmarketmakersthatitistimetotakeprofitoffthetablefromretailtraders.TheinverseH&Spatternisapatternthattradersshouldtakeparticularnoticeofastheyarelikelytorepresentpointsofreversalinthemarket.Therefore,itisexpectedthatSolana’spricewillbegintoriseandcrosstotheotherside,supportedbythesepatterns. UnderstandingtheInverseHeadandShoulders TheinverseH&Spatternconsistsofthreecomponents:oneleftshoulder,oneheadandarightshoulder.Thisformationoftenleadstheretailinvestorsinthewrongdirection;expectingbearishaction.However,whentherightshoulderbreaksthetrendlineupwardsthentradershavetolongbecauseitwillreachhigherprices. Manytradersknowthisformationastheinverseheadandshoulderswheretherightshoulderisavaluableopportunitytoenterwhenitgoesthroughthepeak.Inthisinstance,thehighestreturnsarethereforeachievedwhengettinglongthestockandnotwhenbeingshakenoutbyvolatility. cryptonewsland.com

RadiantCapitalexploitmoved$52MtoEthereum,targetingArbitrumandBNBChain. Post-exploit,Radiant’stotalvaluelockedplummetedby66%. HackersusedmalwaretocontrolRadiant’smultisigwallet,draining$50M. OnOctober16,thecross-chaindecentralizedlendingplatformRadiantCapitalbecamethetargetofalarge-scalecyberattack.Theattackers’exploitledtoanestimated$50milliontheftthroughamalwareattackonArbitrumoperationsonthechain. Theattackersperformedawell-orchestratedattackbyensuringthatthreecoreEthereumdeveloperslostcontroloftheirhardwarewallets.Thus,theytookcontroloftheRadiantCapitalmulti-signaturewalletbeforeprocessingfraudulenttransactions. PeckShieldTracksStolenFundsAcrossNetworks BlockchainsecurityfirmPeckShieldhasbeencloselymonitoringthemovementsofthestolenfunds.OnOctober24,theyreportedasubstantialtransferofnearlyalltheillicitgainsfromlayer-2networkssuchasArbitrumandtheBinanceBNBChaintotheEthereumnetwork. #PeckShieldAlert#RadiantCapitalExploiter-labeledaddresseshavebridgednearlyallstolenfundsfrom#Arbitrumand#BNBChainto#Ethereum,totaling~20.5K$ETH(worth~$52M).pic.twitter.com/JquCL84hZl —PeckShieldAlert(@PeckShieldAlert)October24,2024 Thisshiftinvolvedapproximately20,500Ether,valuedataround$52million.ThechoiceofEthereumisstrategic,providingthehackerswithmoreoptionstoobscuretheoriginofthefundsthroughmixingservicesordecentralizedexchanges,acommonpracticeobservedinothernotableDeFiexploitsthisyear. UrgentMeasuresandWarningsIssued Inresponsetotheincident,RadiantCapitalhastakenimmediatestepstomitigatefurtherrisks.Theplatformhastemporarilyhaltedlendingmarketsandissuedurgentadvisoriestoitsuserstorevokepermissionstoaffectedintelligentcontractstopreventadditionalunauthorizedwithdrawals. Theseinstructionswereemphasizedthroughitscommunicationsonvariousplatforms,includinganOctober23directiveurginguserstouserevokecashtosafeguardtheirassets. Moreover,theDeFiproviderremainscommittedtorectifyingthehack’saftermath.Collaboratingwithlawenforcementandcybersecurityexperts,RadiantCapitalisfocusedontracingandpotentiallyfreezingthetransferredfundstopreventfurtherdispersionthroughcryptomixersorexchanges.ThisincidenthashighlightedthecriticalneedforenhancedsecuritymeasuresandvigilantoperationalpracticeswithintheDeFisector. cryptonewsland.com

Rippleismakingheadlinesonceagain,notjustforitsongoingbattlewiththeSEC,butforaninternalpoliticaldividewithinitsleadership.CEOBradGarlinghousehaspubliclycriticizedtheBidenadministration’sregulatorystance,claimingitplaces“tremendouspressure”onthecryptoindustry.However,Ripple’sCo-FounderChrisLarsenappearstohaveadifferentperspective,reflectedinhisrecent$10milliondonationinXRPtoKamalaHarris’campaignPAC. 📰UPDATE:RIPPLECEO,BRADGARLINGHOUSE,SLAMSBIDENADMINISTRATION’SREGULATORYPOLICIES,CLAIMINGTHEYAREPUTTINGTREMENDOUSPRESSUREONTHECRYPTOINDUSTRY —BSCNHeadlines(@BSCNheadlines)October24,2024 Larsen’sDonation ChrisLarsen’spledgetoKamalaHarris’campaignisasignificantfinancialendorsementofDemocraticlawmakers.HeexpressedhopethatunderaHarrispresidency,therecouldbea“newapproachtotechinnovation”by2025.ThequestionthatemergesiswhetherLarsen’sdonationreflectsabroaderstrategyfromXRPorifitismerelyhispersonalpoliticalbelief. GivenXRP’songoinglegalchallengeswiththeSEC,it’shardtoignorethepotentialimplicationsofsuchadonation.XRP’scaseisseenaspivotalforthecryptoindustry,withtheoutcomepotentiallydetermininghowdigitalassetsareregulatedacrosstheU.S.Larsen’sdonationcouldbeperceivedasanattempttobuildgoodwillwithlawmakerswhomightshapethefutureregulatoryframework,butitcouldalsoraiseconcernsaboutmixedmessagingwithinRipple’sleadership. DiscordWithinRipple’sLeadership BradGarlinghouse’sopencriticismoftheBidenadministrationpresentsastarkcontrasttoLarsen’sdonation.Ripplehasfacedincreasedscrutinyunderthecurrentregulatoryclimate,withGarlinghouseemphasizingthattheadministration’spoliciesarestiflinginnovationinthecryptospace.Meanwhile,Larsen’sendorsementofaDemocraticcandidatesuggestsoptimismforregulatorycooperationunderadifferentleadership. ThisinternaldiscordcomesatatimewhenXRPisfightingoneofthemostsignificantlegalbattlesincryptohistory.Thecompany’songoinglitigationwiththeSECovertheclassificationofXRPasasecurityhasenormousimplicationsforthefutureofcryptocurrenciesintheU.S.HowRipplenavigatesthesepoliticalalignmentscouldplayacriticalroleinitsabilitytooperatesuccessfullyinthefuture. Ripple’sinternalpoliticaldivideraisesimportantquestionsaboutthecompany’sstrategymovingforward.WhileGarlinghousepushesbackagainstcurrentU.S.regulatorypolicies,Larsen’spoliticaldonationtoKamalaHarrishintsathopeforfuturecooperation.WithRipple’slegalbattleagainsttheSECongoing,thesecontrastingpositionscouldshapethecompany’strajectoryasitcontinuestonavigateregulatoryhurdles. cryptonewsz.com

ThetotalBTCholdingsofU.S.spotBitcoinETFsarenearingthesignificantmilestoneof1millionBTC.ThisputstheseETFsonthevergeofsurpassingSatoshiNakamoto’s1.1millionBTCstash.DuetothisincreaseininstitutionalinfluxintoBTC,analystsareoptimisticonaBTCpricerallybeingimminent. U.S.SpotBitcoinETFsNear1MBTCMark AsofOctober23,2024,U.S.BitcoinETFsheld967,793BTC,rapidlyclosinginonthehistoricnumberof1millionBTC.ShaunEdmondson,OperationsManageratGavinEdmondsonSolicitorsLtd,highlightedthisfeatinapostonX. Henoted,“YetanotherbigdayforBlackrock’sspot#BitcoinETF–nowalmostthrough400,000BTCundermanagement.”Moreover,hepointedtoa“liquidationheatmapshowingstrongpotentialupside”andencouragedpeopleto“getsome”Bitcoinwhiletheystillcan. Bloomberg’sSeniorETFAnalyst,EricBalchunas,respondedtoEdmondson’spost,offeringmorecontextontheETFsurge.“Notyet10monthsoldandtheETFsare97%ofthewaytoholding1millionBTC,and87%ofthewaytopassingSatoshiasbiggest,”Balchunaswrote.HealsomentionedthathewoulddiscussthistrendattheupcomingPlanBconferenceinLugano. Notyet10mooldandtheETFsare97%ofthewaytoholding1millionbtc,and87%ofthewaytopassingSatoshiasbiggest.I’llbepresentingonthisandmuchmoreatthePlanBconfinLuganotmrw(10am,mainstage).Ifyou’regoing,comesayhihttps://t.co/5NmhFANOpu —EricBalchunas(@EricBalchunas)October24,2024 BTCPriceRallySoon? TheincreasingdominanceofU.S.BitcoinETFscouldhavesignificantimplicationsforBTCprice.AsthesefundscontinuetoabsorbBitcoin,supplyconstraintsmightemerge,creatingupwardpressureontheprice.WithmarketparticipantscloselymonitoringETFholdingsandBitcoin’stotalsupply,analystsanticipateapotentialpricerallyasinstitutionaldemandgrows. AsEdmondsonnoted,theliquidationheatmapsuggestsabullishoutlook.AccordingtoCoinglassdata,ifBTCpricereclaims$68,089.74,$40.79millionshortswillbeliquidated.ThisindeedwillleadtoariseinBitcoinpriceasshorttraderswouldbuybacktheirleveragedpositionstoavoidlosses. Atpresstime,BTCpricegained2.41%to$67,640.31onThursday,October24. cryptonewsz.com

Uponreachingthe$0.56thresholdonOctober17,theXRPtokenhasbeenexperiencinganegativepriceoutlook.Asaresult,thecryptocurrencyretestedthe$0.51mark,anarealastseenonOctober3.Thiszone,however,hasactedasasolidsupportforthealtcoin,resultinginabouncebacktowardthe$0.5305levelasofpresstime. Thismarksamodest0.52%uptickcomparedtothepreviousday’sprice.Thisvolatilityinthealtcoin’smarketisprimarilyattributedtotheongoinglegalbattlebetweenRippleandtheSEC,whichhasfueledspeculationandtensionamonginvestors. RippleCo-FounderFailstoMeetCriticalCourtDeadline Rippleco-founderChrisLarsenrecentlymissedacriticaldeadlinetofileanoticeofappearance,alegalnecessityintheongoingRipple-SECcase.Inresponse,attorneyMarkFaguel,anexpertinSECenforcement,warnedonXthatifLarsen’slegalteamfailstosubmittherequiredpaperworkbytheloomingNovember5deadline,theyrisklosingtheopportunitytopresentoralarguments. NOTE:ThishasnothingtodowiththeSEC,oranysupposedlylatefiling(whichwasn\'tlate).ThisisdirectedatLarsen,whohasnotyetfiledhisappearanceinthiscase. —MarcFagel(@Marc_Fagel)October22,2024 ThismisstepcouldweakenLarsen’sdefensestrategyinthecase.However,thisdevelopmentdoesn’taffectRipple’soverallstandinginthelawsuit.Ripple’sChiefLegalOfficer,StuartAlderoty,quicklyreassuredanxiousXRPholders,confirmingthatRipplewillmeetitsOctober25,2024deadlinetofileitspre-argumentbrief. ThefirmplanstochallengetheSEC’slegalstanceonJudgeAnalisaTorres’rulingregardingXRP’sinstitutionalsales.OnceRipple’sfilingiscomplete,thetimelineforappealbriefswillbeset,andtheSECwilllikelyhaveupto90daystorespond.Thisprocesscoulddragthecasewellintomid-2025,extendingwhathasalreadybeenalengthylegalbattle. XRP’sOn-ChainDataHintatBearishSentiment XRP’son-chaindata,ontheotherhand,hintsatabearishoutlookintheshortterm,withdecreasedwalletactivityandadeclineintransactions.AccordingtoXRPScanmetrics,thetokenhaswitnessedthenumberofnewaccountscreateddecreasingfromapeakof3,707accountsonOctober20toalowof1,306atpresstime. ThisadversepriceactionisfurtherbolsteredbythefactthatthenumberoftransactionsontheXRPledgerhasalsobeeninadowntrendfromahighof1.704milliontransactioncounttoalowof712.468Ktoday.Thisindicatesalackofinterestoractivityinthetoken,asthemarketisfulloftensionanduncertaintysurroundingregulatoryissues. XRP’sMarketOutlook:What’sNext? AsobservedonTradingView’sdailychart,thecryptocurrencyisreboundingfromyesterday’slowof$0.51.Therelativestrengthindexcementsthisscenarioasitpointsupwards,implyingabullishsentimentbuildingupinthenearterm.Positionedat41.85,theindicatorsignalsamplespacefortheoptimisticpriceactiontopersistinthecomingdays. Suchascenariomaypushthetokentochallengethe23.6%Fibonaccilevelat$0.5410,withthelikelihoodofbreakingaboveit.Thesuccessofthismovelargelydependsonthecryptocurrencyclosingabovethe200-daysimplemovingaverageatthe$0.5386threshold. Thiscouldfurtherpropelthealtcointohigherlevelsaround$0.5629,aligningwiththe38.2%Fibonaccimark,whereitcouldencounterresistance.Conversely,ashiftinmarketsentimentmightpulltheXRPtokentorevisitits$0.51lowagain,possiblybreakingbelowitthistimeround. cryptonewsz.com

SkyfireSystems,anewtechstartup,hasmadeheadlinesbylaunchingapaymentnetworkdesignedspecificallyforAIagents.Recently,thecompanysecuredstrategicinvestmentsfromCoinbaseVenturesanda16zCryptoStartupAccelerator,bringingitstotalfundingto$9.5million. AIpaymentcompanySkyfireannouncedthatithasreceivedstrategicinvestmentfromCoinbaseVenturesanda16zCryptoStartupAccelerator(CSX).SkyfireisbuildinginfrastructurethatallowsAIagentstomakeautonomouspaymentswithoutrelyingonhumanintermediaries,using… —WuBlockchain(@WuBlockchain)October24,2024 Skyfire’sKeyFeatures Skyfire’sinnovativeplatformallowsAIagentstomakepaymentsautonomouslywithouthumanintervention,usinguniquedigitalwalletsfundedthroughbankchannels.ThissetupensuresthatbusinessescansetspendinglimitsfortheirAIagents,enhancingsecurityandcontrolovertransactions. ThestartupalsoensuresalsoensuresthesecurityofAIagents’transactionsthroughseveralmeasuresoneofthemusingdigitalwallets,andintheothermeasure,theplatformleveragesblockchaintechnologyforsecureandtransparenttransactionsusingstablecoinlikeUSDC.VerificationservicesforbothAIagentsandserviceprovidersfurtherenhancetrust,ensuringthatalltransactionsaremonitoredandcontrolled,creatingasafeenvironmentforautonomousfinancialactivities. FounderofSkyfirecallingitvisafortheAIeconomy(Source:XPost) ThepaymentnetworkdistinguishesitselffromotherpaymentnetworksbybeingthefirstplatformdesignedspecificallyforfullyautonomoustransactionsbyAIagents.Itenablestheseagentstooperatewithouthumanintervention,addressingasignificantlimitationincurrentAIcapabilities.Keyfeaturesincludeanopenglobalpaymentprotocolthatallowsseamlessaccesstovariousserviceswithouttraditionalpaymentmethods. Thiscontributionofautonomy,security,andflexibilitypositionsSkyfireasaleaderintheemergingAIeconomy. cryptonewsz.com

BinanceLabshasannouncedasignificantinvestmentinMoonwalkFitness,aninnovativefitnessincentiveappdesignedtopromotehealthylifestylethroughgamificationandfinancialrewards.BuiltonSolanablockchain,thisappaimstomotivateusersbyallowingthemtoearncryptocurrencyforreachingtheirdailystepgoals. BinanceLabsannouncedaninvestmentinMoonwalkFitness,afitnessincentiveappbasedontheSolanathataimstopromoteahealthylifestylethroughgamificationandfinancialrewards.UserscompletetheirdailystepgoalsbystakingUSDC,SOL,orBONK.https://t.co/j55IhE72Pf —WuBlockchain(@WuBlockchain)October24,2024 SnippetoftheofficialannouncementonX(Source:XPost) MoonwalkandBinance’sGamifiedFitnessApp UsersofMoonwalkFitnesscanstakepopularcryptocurrenciessuchasUSDC,SOLorBONKwhiletrackingtheirphysicalactivity.Theappseamlesslyintegrateswithwidelyusedfitnesstrackers,includingAppleHealthandFitbit,makingiteasyforuserstomonitortheirprogress.Bytransformingexerciseintorewardingexperience,MoonwalkFitnessencouragesindividualstostayactivewhileengagingwiththeworldofcryptocurrency. CaitlinCook,headofgrowthatMoonwalkFitness,describedtheappas”gamifiedaccountability,”emphasizingitspotentialtocreateasupportivecommunityaroundfitnessgoals.TheinvestmentfromBinanceLabs,alongwithcontributionsfromHackVCandReciprocalVentures,indicatesagrowingtrendofmergingfitnesswithblockchaintechnology. AsMoonwalkFitnesspreparesforitsbroaderlaunch,itplanstoexpanditsfeaturesbeyondsimplesteptracking.Futureupdateswillincludesupportforvariousfitnessactivitiesandenhanceduserengagementtools. Byfocusingonmainstreamconsumersandsimplifyingcryptointeractions,MoonwalkFitnessaimstomakehealthandwellnessaccessiblewhileintegratingthebenefitsofblockchaintechnologyintoeverydaylife. cryptonewsz.com

OpenAI’sSeniorAdvisorforAGIReadiness,MilesBrundage,hasresignedfromthecompanyaftersixyears.Inhisresignationletter,BrundagenotedthatheisleavingtopursueAIpolicyresearchinanareathatisnotinthetechnologyindustry.