China News Daily Official TheBitTimes.com

Jump Trading has spun off its cross-chain protocol, Wormhole, into an independent entity amidst a backdrop of major security breaches and ongoing regulatory scrutiny. Jump Trading has officially separated Wormhole, a prominent cross-chain protocol, establishing it as an independent entity . This move, as reported by Bloomberg, has led to the departure of key Wormhole figures, including CEO Saeed Badreg and COO Anthony Ramirez. Wormhole’s history is marred by a major security breach in 2022, resulting in a loss of approximately $320 million, marking it as one of the most substantial defi hacks to date. In an extraordinary response, Jump Crypto, the cryptocurrency division of Jump Trading, intervened to replenish the stolen funds, primarily 120,000 ETH. Subsequently, in February of the follow ing year, Jump Crypto had successfully recovered the funds lost in the Wormhole attack. This recovery was partly facilitated by Oasis, under the directive of the High Court of England an...

FTT, the native token of beleaguered crypto exchange FTX, has seen its value grow by at least 13.3% over the last 14 days. The growth came against the backdrop of the trial of former FTX CEO Sam Bankman-Fried. A 12-person jury found the FTT creator guilty of all charges proffered against him, with sentencing scheduled for March 28, 2024. However, follow ing the verdict, FTT lost some momentum, recording a 0.2% drop in the last 24 hours and a 5.9% loss over seven days. FTT 14-day price chart | Source: CoinGecko The token’s total supply of 328,895,103 is currently valued at more than $389 million, with each price d at $1.18. Exchange relaunch plans nudge up FTT prices In June, rumors of a potential FTX reboot fanned investor confidence, leading many to believe FTT was undervalued. The speculation propelled a fresh wave of capital investment into the token, causing its price to increase by more than 20%. Efforts to resurrect the platform are underway. FTX’s current managemen...

The BNB Smart Chain (BSC) was hit by copycat attacks caused by a vulnerability in the Vyper programming language. It mirrors the Curve Finance defi protocol exploit . Blockchain security firm BlockSec revealed that as of July 30, approximately $73,000 worth of cryptocurrencies were stolen from the BSC through three separate exploit s. The latest development mirrored the ongoing exploit s on Ethereum’s Curve Finance, which had already seen losses surpassing $41 million. The sheet updated. Losses have already ~$41m!https://t.co/lCaS4uEPzm https://t.co/stQYNJFS7y pic.twitter.com/P7jG8NHnV4 — BlockSec (@BlockSecTeam) July 30, 2023 The vulnerability in question was found in Vyper versions 0.2.15, 0.2.16, and 0.3.0, which were used by various defi pools. The malfunctioning reentrancy lock in these versions enabled attackers to execute multiple functions simultaneously, leading to the possibility of draining all funds from affected contracts. Vyper, the programming language...