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Price manipulation via wash trading is a common strategy that entities use to earn profits. Usually, entities buy and sell the same asset simultaneously to create a false impression of market activity. Nevertheless, the trade reflected no change in actual ownership. Liquidity is fragmented in crypto , and as a result, smaller markets are easier to manipulate via large orders. Solidus Labs recently revealed that the price of billions of dollars worth of crypto has been manipulated over the past three years. As far as specific numbers are concerned, the report revealed, “ Since September 2020, liquidity providers (LPs) on Ethereum-based decentralized exchanges (DEXs) have wash-traded at least $2 billion worth of crypto currency, manipulating the prices and volumes of more than 20,000 tokens .” 📢 Major Update! Unveiling Part Two of our Crypto Market Manipulation Report! 🚨 Our data shows a shocking $2 billion #washtrades on DEXs since Sept 2020. That's affecting over 20,000 to

Solidus Labs research finds $2 billion in deceptive wash trading activities across Ethereum-based decentralized exchanges.  Newly released data from Solidus Labs, a crypto trade surveillance and risk monitoring platform, indicates that a staggering $2 billion worth of crypto assets has been wash-traded on Ethereum-based decentralized exchanges (DEXs) since 2020. The report casts a spotlight on the pervasive but preventable issue of market manipulation in the world of decentralized finance (defi). Major Update! Unveiling Part Two of our Crypto Market Manipulation Report! Our data shows a shocking $2 billion #wash trade s on DEXs since Sept 2020. That's affecting over 20,000 tokens! ️ Full details here in our report : https://t.co/pcRvMBGfb0 — Solidus Labs (@Solidus_Labs) September 12, 2023 Tracing the pattern: Wash trades and manipulated crypto pools Wash trade is a malicious tactic where traders place both buy and sell orders with themselves to artificially influence th

Milady NFT creator Charlotte Fang said that Remilia “easily identified” the individuals involved in the exploit and will start legal action. Milady Maker, a nonfungible token (NFT) project on the Ethereum blockchain, has fallen victim to a major exploit involving the platform’s fees and social media accounts. Charlotte Fang, co-founder of the Milady Maker NFT collection , took to X (formerly Twitter) on Sept. 11 to announce that a developer in the Milady ecosystem has managed to divert about $1 million in generated fees from Remilia Corporation. Remilia is a decentralized autonomous organization (DAO) behind Milady Maker NFT. The DAO saw its revenue compromised from Bonkler, its experimental finance art project created in April 2023, according to an announcement by Fang. “The Bonkler reserves, main contract and NFTs are safe; only Remilia’s revenue from Bonkler was compromised,” Fang noted. The creator emphasized that Remilia’s reserves are “unaffected” and user assets are “perfectl

The proposal would allow other blockchains built on the Bitcoin network. In August, a core developer rewrote the proposal's code and requested it be added to Bitcoin's codebase, sparking new debate over its merits. A debate has reignited among Bitcoiners over a six-year-old Bitcoin Improvement Proposal (BIP) to add “sidechains” on top of the network, with some warning it could increase scams on the Bitcoin network and others saying it will bring new users of the cryptocurrency. Meanwhile, one developer claims to have found a way to achieve the proposal's goal without a soft fork of the blockchain. The proposal in question, BIP-300 — also known as Bitcoin (BTC) Drivechains — was first introduced in 2017, which proposed introducing “sidechains” that are separate blockchains on top of the Bitcoin network. Paul Sztorc, the proposal’s author and founder of the Drivechain development firm LayerTwo Labs which raised $3 million in December, has explained the blockchains would allo

a16z crypto, Coinbase, Ledger, Bain Capital Crypto, Blockchain Capital, and Paradigm joined to advocate for clear regulations. A group of crypto and blockchain firms joined together to create a Texas crypto advocacy group , according to a Sept. 11 announcement. The group is called “Crypto Freedom Alliance of Texas,” and is founded by a16z crypto, Coinbase, Ledger, Bain Capital Crypto, Blockchain Capital, and Paradigm. The group is promoting “the development of coherent and predictable regulations for digital assets in Texas.” #Crypto Freedom Alliance of Texas Launches to Support Clear Digital ... - Business Wire https://t.co/kn9LdN5zj1 pic.twitter.com/VzgqpEc0uC — Stock Market News (@Stock_Market_Pr) September 11, 2023 To further its goals, the Crypto Freedom Alliance will foster educational initiatives that will target government officials, corporations, non-profits, and other organizations in an effort to highlight the value of Web3 in the state of Texas, the announcement sta

Seamless Protocol, a fork of Aave v3 deployed on Base, enables smart contracts with predetermined borrowing strategies to conduct undercollateralized borrowing on-chain. A collaboration across decentralized finance (DeFi) developers is introducing a non-custodial liquidity market s on layer-2 network Base, promising to enable trustless smart contracts to automatically connect liquidity pools with borrowing strategies. Behind the initiative are developers from Seashell, RNG Labs, and Loreum Labs, along with advisers and collaborators from Ampleforth, Uniswap and other projects. The group built the Seamless Protocol, a fork of Aave v3 that allows smart contracts with predetermined borrowing strategies to conduct undercollateralized borrowing on-chain. "As an analogy, Borrowing Strategies are like single-purpose loans, such as home, auto, or school loans — the supplier knows exactly where the liquidity is being used, and the borrower is unable to use it for different purposes,”

Government intelligent agencies are seeking a new law to list crypto exchanges under the existing crypto regulatory system distinctively. The new law will make it compulsory for the exchanges to share details of suspicious transactions with law enforcement agencies proactively. The goal is to reduce the use of crypto to carry out fraudulent and criminal transactions. The situation was discussed at a conference held by the National Security Strategies, with Home Minister Amit Shah in attendance. A senior government official stated that an investigation revealed that Chinese shell companies that operate digital loan apps in India used the crypto exchanges to withdraw funds from India. The official added that there is no record of the ownership of the cryptocurrency exchanges in India. The existing law allows the authorities to look into the exchanges only after a criminal case is registered. Intel Agencies Seek More Authority The official stated that the police and law enf

Join Our Telegram channel to stay up to date on breaking news coverage The Monero price prediction reveals that XMR faces key support as the market price heads to the downside. Monero Prediction Statistics Data: Monero price now – $156.9 Monero market cap – $2.8 billion Monero circulating supply – 18.1 million Monero total supply – 18.1 million Monero Coinmarketcap ranking – #27 XMR/USD Market Key Levels: Resistance levels: $180, $190, $200 Support levels: $140, $130, $120 Buy Monero Now Your capital is at risk As the market opens today, XMR/USD drops with a bearish bias as the coin heads toward the support level of $150. For the past few days, the Monero price did start a nasty decline and has been breaking many supports. The market price could correct higher, but it is likely to face more sellers on its way towards the lower boundary of the channel. Monero (XMR) May Move Sideways; Massive Gains on Tamadoge (XRM) Looking at the daily chart, the Monero price

Join Our Telegram channel to stay up to date on breaking news coverage The tension in the market this month, partly due to the US CPI bearish data and the entire talk of crypto being on the downtrend had no significant effect on the Internet’s Favorite Meme coin – Tamadoge, which is sold out as of 18 th of September. Investors in the presale can register here for further updates on Tamadoge. The Play-to-Earn coin had a hard cap of $19 million, which is now achieved, awaiting its launch on crypto exchange platforms such as Uniswap and LBank. Tamadoge’ presale was launched on 25th July, and it raised more than Ethereum ($16 million) had achieved in 2014 in just five weeks. What is Tamadoge? Tamadoge is a deflationary crypto meme coin with a utility, players can mint, breed and battle their own Tamadoge dog to attain as well as maintain a position on the leaderboard. It is operated on Ethereum Blockchain (ERC-20) in over 125 countries over the globe. TAMA, a native token, has

Join Our Telegram channel to stay up to date on breaking news coverage October 3, saw the launch of the eagerly anticipated Lucky Block V2 Bridge, giving investors a means of quickly exchanging their BEP-based LBLOCK V1 currencies for the enhanced ERC-based LBLOCK V2 currencies. The LBLOCK token transitioned from Binance’s BEP format to the more popular ERC standard created by Ethereum before the end of July. Due to this adjustment, the LBLOCK may now be traded on centralized exchanges like Gate.io, MEXC, and LBank. But it also led to the creation of two distinct tokens, each with its own architecture. A token bridge developed by Lucky Block Company – Lucky Block Bridge After LBLOCK V2 launched, it divided the holders and impeded price growth. The team later announced the development of an ETH-bridge to address this problem, enabling owners to exchange existing BEP-based LUCKY BLOCK for the updated trading-friendly model. The Bridge finally went live Tuesday, October 3, unt

Former Kraken CEO Jesse Powell is indignant over FTX CEO Sam Bankman-Fried (SBF)’s behavior preceding the fallout of the latter’s company. In a Twitter thread on Thursday, Powell blasted the young billionaire for recklessly tarnishing the crypto industry’s reputation.  Powell Calls Out SBF The Kraken co-founder, known as a long-time crypto veteran and believer , called this week’s events a “ massive setback ” for the industry.   Noting that the crypto industry is the frequent target of con artists, he said the community needs to raise its standards for who it elects as unofficial leaders.  KYC & Audit Solutions! SolidProof Though not naming names, Powell’s implicitly aimed his comments at SBF – whose exchange is now struggling to satisfy user withdrawals. A Wall Street Journal report on Wednesday suggested that FTX faces an $8 billion shortfall against its customers’ deposits.  Binance initially offered to acquire FTX to help navigate the situation, but later

Join Our Telegram channel to stay up to date on breaking news coverage Influential YouTuber Crypto Gains reviewed the new M2E platform that rewards users for completing exercises FightOut and its native token FGHT. If you get in early on their presale, you have a good chance of making significant gains from the Move-to-Earn, which is going to be a major trend in the future. Crypto Gains FightOut Review FightOut is creating a high – end gym and workout app. FightOut is essentially a Move-to-Earn platform that rewards customers for working out, be it at a traditional gym or in the comfort of their own homes. The user’s fitness routine is tailored to their own needs and abilities, and their successes and improvements are automatically reflected in their virtual avatar. When it comes to staying fit, sometimes you need incentive, and if you have some form of an avatar that you know you can keep increasing your stats, making yourself more better, and other things that could urge y

After announcing an outright ban on the use of iPhones by central government officials, the restrictions are now expanding to local governments and state-owned entities. According to a report by Nikkei Asia, a state-owned company employee in Beijing, China received a notice about the transition. She conveyed that the ban would be effective immediately for company departments involved in confidential data sharing. For the rest of the workforce, Mar. 1, 2024, is the deadline. Also Read: China: BRICS Trade Reaches $330 Million, Outperforms US Trade JUST IN: 🇨🇳 China expands iPhone ban to local governments & state-owned companies. — Watcher.Guru (@WatcherGuru) September 8, 2023 It is important to highlight that the change isn’t as sudden and erratic. Reports suggested that companies have suggested a ‘recommendation’ to move away from iPhones over the past three years. Irrespective of the ban, employees have been limiting the use of iPhones at work. The recent announceme

Binance CEO Changpeng Zhao says DeFi will outpace CeFi in the next bull run, but the Bank for International Settlements is skeptical. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in the DeFi ecosystem was filled with ups and downs, from the United States Commodity Futures Trading Commission’s (CFTC) investigation into multiple DeFi protocols to Binance CEO Changpeng “CZ” Zhao’s forecast that DeFi would outgrow centralized finance (CeFi) in the next bull run. While CZ anticipates a bright future for DeFi, a report from the Bank for International Settlements (BIS) argues that a pure form of DeFi cannot survive independently and has little use case in the real world. The Shiba Inu ecosystem’s layer-2 network, Shibarium, has continued its rapid growth post-relaunch, with over one million wallets created; however, its progress has yet