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šŸ“‍ā˜ ļø Binance Chain Exploiter Just Transferred 33,772 Ethereum to a New Address šŸ“‍ā˜ ļø
The address associated with the recent BNBChain bridge exploits just moved $45M worth of ETH to a new address.
October 08, 2022
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The BNBChain bridge exploit surprised the entire community, as hackers aimed to execute the malicious act stealthily overnight. Notwithstanding, the Binance team was able to address the situation soon enough to minimize the damage caused, with Tether making its own attempt to blacklist the associated address.

Despite these commendable efforts, the hackers were able to cart away with funds within the range of $100M. Due to the swift action of the Binance team, $400M remained on BSC, with the hackers sending $50M to Fantom and $50M to Ethereum. It appears the funds converted to Ethereum are now on the move.

PeckShieldAlert, a Chrome extension tool from blockchain security company Peck Shield, revealed the development through its official Twitter page.

ā€œPeckShieldAlert BNBChain Token Hub Exploiter 0x489A87 has transferred ~33,772 $ETH (ļ½ž$45M) to a new address 0xFA0a3…14e9,ā€Ā the handle highlighted.

A look at the transaction hashĀ 0x74701d8816a4b3b6c377dfb1dab2edd5abfe7ad92d114905aaf151a701ff26d9Ā onĀ EtherscanĀ confirms the alert from PeckShield.

The transaction which occurred on October 7, 6:15:35 PM (UTC) involved the transfer of 33,771 Ether (worth $44,879,672 against prevailing rates) from the address associated with the BNB Bridge exploitĀ 0x489a8756c18c0b8b24ec2a2b9ff3d4d447f79becĀ to a new addressĀ 0xfa0a32e5c33b6123122b6b68099001d9371d14e9.

This indicates that the hackers want to move the funds out of sight. It remains the practice of criminals to utilize crypto mixers such as the OFAC-sanctioned Tornado Cash to cover their tracks.

Recall that the BNBChain-linked exploit, which occurred in the late hours of October 6, affected a cross-chain bridge native to the BNB Chain ecosystem called the ā€œBSC Token Hub.ā€ BSC Token Hub is a bridge between the BNB Beacon Chain (BEP2) and the BNB Smart Chain (BEP20 or BSC).

The exploit led to a withdrawal of 2 million BNB (worth around $566M). To contain the situation, the BNBChain team had to consult with validators to pause on-chain activities on the network.

The hack was summarily addressed, limiting the funds withdrawn from the BSC ecosystem to $100M. Following the exploit, the CEO of Binance, Changpeng ā€œCZā€ Zhao, appeared on CNBC’s Squawk Box show to discuss a few issues. The Crypto BasicĀ reportedĀ that CZ entertained questions regarding the recent exploit.

CZ noted that he remains confident of the community’s trust in Binance due to the swift response from the team. Additionally, CZ highlighted that, despite the hack, BNB had dipped by less than 5% at the interview. The asset has only seen a dip of 1.2% as of press time, as it changes hands at $281.

Furthermore, the BNBChain team released aĀ statementĀ concerning the hack on Friday after containing the situation. The team apologized for the exploit and revealed four action points that will be subjected to governance votes for the ā€œcommon good of BNB.ā€

These points include:

  • Actions to take on the hacked funds – whether to freeze them or not.
  • Whether or not the developers should implement the BNB Auto-Burn feature to cover the rest of the hacked funds.
  • A White Hat initiative will reward each White Hat that uncovers a future significant bug with $1M.
  • A bounty for hackers caught, promising 10% of the recovered funds to anyone who provides substantial assistance.

In addition to these points, CZ further told CNBC that the BNBChain team has noted the bug and is looking to learn from the mistake to make the network more secure in the future.

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šŸš€ Bitcoin Hits New All-Time High – What’s Next?

Bitcoin reached a new peak of $118,254 on July 11, 2025, driven by institutional demand, favorable macro conditions, and supportive crypto regulations. With a 100%+ year-over-year surge, what's next for BTC?

šŸ”® Bitcoin Outlook

šŸ“† Short Term (6–12 Months)

  • Expect volatility post-ATH
  • Spot BTC ETFs attract significant capital
  • Potential range: $95K–$135K

šŸ•° Medium Term (1–3 Years)

  • 2024 halving impact continues
  • More institutions may adopt BTC as reserve/collateral
  • Global regulatory clarity boosts confidence
  • Potential range: $120K–$200K+

🌐 Long Term (5–10+ Years)

  • BTC may solidify as digital gold
  • Used in cross-border settlements and emerging markets
  • Scarcity (21M cap) drives value
  • Bullish case: $250K–$1M+
  • Bearish case: $20K–$50K (if tech/regulatory risks rise)

šŸ“Œ Key Drivers

  • Institutional adoption
  • Spot ETF flows
  • Crypto regulations
  • Fed interest rate policy
  • Lightning Network & Layer 2 scaling
  • Geopolitical uncertainty

šŸ’¬ TL;DR:
Bitcoin’s $118K breakout ...

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Ripple CEO on partnership with BNY to serve as custodian of stablecoin
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Brad Garlinghouse In Washington šŸš€

It’s time for a fair and open level playing field.

Under Gary Gensler it was quite the opposite.

  • Brad Garlinghouse
    July 9, 2025
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šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? šŸ”œ

The future of Crypto x AI is about to go crazy.

šŸ‘‰ Here’s what you need to know:

šŸ’  'Based Agent' enables creation of custom AI agents
šŸ’  Users set up personalized agents in < 3 minutes
šŸ’  Equipped w/ crypto wallet and on-chain functions
šŸ’  Capable of completing trades, swaps, and staking
šŸ’  Integrates with Coinbase’s SDK, OpenAI, & Replit

šŸ‘‰ What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto šŸ‘‰txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

šŸ‘‰ Coinbase just launched an AI agent for Crypto Trading
PERSISTENCE Q2 SUMMARY & WHATS TO COME IN Q3 šŸ‘€

Q2’25 was a significant one as we laid the groundwork for multiple initiatives on our orange-themed road to BTCFi šŸ›£ļøšŸ§”

From being one of the first DEXs to deploy on Babylon, to going live with the beta-mainnet & onboarding new Persisters.

Read more šŸ‘‰ https://blog.persistence.one/2025/07/10/persistence-one-a-look-back-on-q2-2025-and-an-overview-of-whats-to-come-in-q3/

BTC Interop beta mainnet is back 🧔
šŸš€ XDC Goes Omnichain with LayerZero & Stargate!

XDC Network has officially launched omnichain bridging via LayerZero Labs and Stargate, enabling seamless $XDC transfers across Ethereum, Solana, Arbitrum, Base, and more using the OFT (Omnichain Fungible Token) standard—live now on Stargate Finance.

šŸ”‘ Key Features

  • āœ… Zero slippage: Bridge $XDC with no loss of value during transfers.

  • āœ… Unlimited transfer size: Move any amount of XDC across supported chains.

  • āœ… Access to millions: Instantly tap into new users and ecosystems across DeFi[2][6.

šŸ’”Why This Matters

  • $2.9B in gas token value: XDC Network’s massive liquidity is now accessible cross-chain, expanding its footprint in DeFi and real-world asset tokenization.

  • OFT standard: The OFT protocol ensures unified, secure, and permissionless movement of assets between blockchains, powered by LayerZero’s advanced interoperability layer.

  • Stargate integration: Users can bridge XDC instantly, with zero slippage and no arbitrary limits, leveraging Stargate’s ...

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem PostĀ reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,ā€ he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch,Ā called onĀ military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social mediaĀ postĀ of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action,Ā repostingĀ a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" LevinĀ wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
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šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

ā€œCritical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).ā€

The National Conference of State Legislatures expressed similar concerns in early June, stating:

ā€œWe urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.ā€

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina HeaverĀ explained:

ā€œRWA issuance is no longer theoretical. It’s now a regulatory reality.ā€

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

ā€œTokenization will redefine global finance in 2025.ā€

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

Ā 

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šŸ™ Donations Accepted šŸ™

If you find value in my content, consider showing your support via:

šŸ’³ PayPal:Ā 
1) Simply scan the QR code below šŸ“²
2) or visit https://www.paypal.me/thedinarian

šŸ”— Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! NamastĆ© šŸ™ Crypto Michael ⚔ Ā The Dinarian

Ā 

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