Hey everyone,
In my Weekly Crypto Overview, I will assemble the important news of the last week and make a summary of it. This way you will have one place to go for all the significant events that happened the week before in crypto. I hope you enjoy it and that it saves you a lot of time searching for all the news. I know not everyone has the privilege to be full-time in crypto, so I hope this is a solution for many of you.
- Bithumb Hacked For $ 13 Million
- DragonEx Exchange Hacked For 7 Million USDT
- Justin Sun’s Controversial Tesla Draw
- SEC Postpones Decision On ETF Proposals
Bithumb Hacked For $ 13 Million
South Korean crypto exchange Bithumb has had around $13 million in the EOS cryptocurrency stolen in a hack it suspects was an insider job. The exchange suspended asset withdrawals and deposits on the platform after noticing the breach.
All the stolen cryptocurrency is owned by the company, and all members’ assets are under the protection of a cold wallet.
The company said in its statement that it suspects the hack was conducted by an insider since no evidence of external exploit has been found.
Read Coindesk’s full article here.
DragonEx Exchange Hacked For 7 Million USDT
Bithumb wasn’t the only exchange that got hacked last week, Singapore-based exchange DragonEx shared on Telegram that it has been hacked for an undisclosed amount in a number of cryptocurrencies.
Yesterday DragonEx shared that 7.09 Million USDT assets are stolen. DragonEx will issue 7 Million USDT value of Dragon Bond. You can read the full statement of DragonEx here.
Justin Sun’s Controversial Tesla Draw
A while ago Justin Sun announced a giveaway of 20 Million Dollars and a Tesla.
Last week Justin announced the winner of the Tesla in a live video draw, where @uzgaroth was the winner. According to a lot of people on Twitter there was foul play and Justin removed all his tweets and videos leaving uzgaroth in despair.
Justin did a new live video to select a winner following a different process. Instead of the Teslam Justin offered uzgartoh a free ticket to the next Tron conference in 2020.
After a few hours Justin issued a statement on Medium, which you can read here.
I’ve happily decided to give away two Teslas to further my mission of creating transparency, reliability and openness about blockchain.
Was this all part of the plan? Who knows, in the eyes of a lot of people in crypto it was a very controversial play.
SEC Postpones Decision On ETF Proposals
The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on two bitcoin exchange-traded fund (ETF) proposals earlier this year.
The first ETF proposal, filed by Bitwise was published on February 15. This kicked off the first 45-day clock for a decision on the filing. Overall, the SEC has 240 days to approve or reject any ETF proposal. Today’s decision means the SEC now has another 45 days to consider the proposal. The next date is 16 May.
The second ETF proposal, resubmitted by VanEck and SolidX was published on February 20. On Friday, the SEC extended this decision as well. The next date is 21 May.
You can read Coindesk’s article here.
That’s it for now. All the best to everyone!
Khilone
The material contained in this article is not to be regarded as an recommendation to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information on this document does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this document when making any investment decisions.
