The biggest news in the cryptoverse for Oct. 24 includes a recent spike in Bitcoin mining difficulty leading to a new ATH, FTX agreeing to compensate its users’ losses to a phishing attack, and on-chain data reveals Binance and Bittrex were also attacked.
Bitcoin mining difficulty rises 3.4%, reaching new ATH
Another spike in mining difficulty was recorded on Oct. 24. It increased by 3.4% to reach 36.84 trillion, marking a new ATH. With that, the mining difficulty ribbon got compressed at the bottom, historically signaling a good buying opportunity for Bitcoin.
FTX compensating users who lost $6M to phishing attacks “just this once,” says SBF
FTX, and was exposed to phishing attacks via 3Commas on Oct. 12. 3Commas is a platform that enables users to build automated trading bots, and its FTC users were targeted by phishing attackers who used fake 3Commas websites.
12) Anyway–not only was this not FTX getting phished, it wasn’t even an FTX site.
And in general we can’t compensate for users getting phished by fake versions of other companies in the space! It isn’t FTX and we have basically no control over it.
— SBF (@SBF_FTX) October 23, 2022
FTX’s CEO Sam Bankman-Fried acknowledged the span of the attack and said FTX would compensate its users’ losses “as a one time ting” since it wasn’t “FTX getting phished, it wasn’t even an FTX site.”
On-chain data reveals Binance US, Bittrex also targeted by API attack used on FTX
According to a joint report by X-explore and WuBlockchain, Binance US and Bittrex were also attacked by the same phishing scam FTX suffered.
The report states:
“X-explore found that the attackers in the FTX&3commas API theft also attacked Binance US and Bittrex exchanges, stealing 1053ETH and 301ETH respectively. At present, the attack on Bittrex is still in progress.“
Crypto staking platform Freeway halts withdrawals, FatManTerra alleges Ponzi scheme
Crypto staking platform Freeway pointed out the market volatility as the reason and halted withdrawals and deposits. The announcement cited that the firm “has decided to diversify its asset base” to avoid market volatility in the future.
Two hours ago, Freeway halted all platform withdrawals. They also wiped the names of all team members from their website. It looks like it’s over. Another $100m+ rug. https://t.co/CUHZRygRGM pic.twitter.com/BJE4QMtkPy
— FatMan (@FatManTerra) October 23, 2022
Crypto influencer FatManTerra, cited the news and pointed out that the…
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