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Wrapped Bitcoin (wBTC) corresponds to approximately 10% of the overcollateralized stablecoin DAI reserves, which investors now consider removing as collateral. This decision could start a Bitcoin (BTC) sell-off if investors decide to close their wBTC exposure following Bitgo's controversial announcement.
Justin Sun and BitGo's partnership on WBTC custody operations spooks DeFi players.
BitGo, a leading crypto custodial platform, will shift its Wrapped Bitcoin (WBTC) to a new multi-jurisdictional and multi-institutional custody model. This decision has raised concerns in the crypto community, particularly because of the involvement of Justin Sun, founder of the TRON blockchain.
Wrapped Bitcoin (WBTC) was the focus of the cryptocurrency community recently, especially about Justin Sun's possible impact. There has been a lot of conjecture regarding the future of WBTC since BitGo announced that it intends to hand over control of the cryptocurrency to a joint venture with BiT Global.
MakerDAO raises concerns about Justin Sun's involvement in the upcoming Wrapped Bitcoin (WBTC) custody changes.
BitGo claims the move of its Wrapped Bitcoin business will make it the world's first “multi-jurisdictional and multi-institutional custody."
BitGo claims the move of its Wrapped Bitcoin business will make it the world's first “multi-jurisdictional and multi-institutional custody.”
BitGo and BiT Global have partnered to form a joint venture that will enhance the custody and cold storage of WBTC.
MakerDAO, a prominent player in the decentralized finance (DeFi) sector, is assessing the impact of the upcoming Wrapped Bitcoin (WBTC) custody shifts on its risk management framework. Due to BitGo, a major WBTC custodian, recent statement that it would transfer the control of the product to a new joint venture with BiT Global, the governance-focused
A cryptocurrency investor has reaped a windfall of approximately $15.5 million after selling wrapped Bitcoin (WBTC), a token representing the flagship cryptocurrency on Ethereum Vitrtual Machine (EVM) compatible networks, that they acquired over a year ago.
$WBTC, originally an ERC-20 token representing Bitcoin on Ethereum, now extends its utility to Solana, enabled by the Wormhole protocol. This integration allows $WBTC to be utilized across various Solana-based platforms, such as Drift Protocol, Kamino Finance, and Orca's Exchange.
The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale.
21.co launches 21BTC, enabling Bitcoin's secure and efficient use on the Solana blockchain for improved DeFi integration. The post 21.co debuts Wrapped Bitcoin on Solana, targeting $1 trillion in idle Bitcoin funds appeared first on Crypto Briefing.
Experts discovered personal information about the attacker by investigating IP addresses and device data connected to the attack.
As analysts raised the possibility of a spot Ethereum (CRYPTO: ETH) ETF approval, big whales ramped up their bullish bets on the world's second-largest cryptocurrency. What Happened: James Fickel, one of the wealthiest cryptocurrency investors, swapped 350 Wrapped Bitcoin (CRYPTO: WBTC) for 6,905 Ether earlier in the day, according to on-chain tracking platform Lookonchain.
A crypto whale who lost $71 million worth of wrapped bitcoins in a dusting attack has recovered the stolen funds after the attacker unexpectedly returned the loot
Binance completes integration of Wrapped BTC (WBTC) on Kava EVM and Bonk (BONK) on BNB Smart Chain, facilitating deposits and withdrawals.
Details of the negotiations between the scammer and victim are not available as it appears the discussion took place on Telegram.
On-chain transactions leading up to the return suggest this wasn't a white hat hacker but a malicious actor who intended to steal the funds before investigators got involved.
In a dramatic turn of events, an attacker returned the entirety of funds stolen from a cryptocurrency whale in just a week. What Happened: According to on-chain tracking platform, Lookonchain, the whale lost more than $70 million in Wrapped BItcoin (CRYPTO: WBTC) to a phisher who tricked them into sending their funds to an address that resembled their own.
Blockchain data shows that nearly 23,000 ETH was transferred into the victim's account after negotiations opened on May 10.
In the aftermath of a harrowing crypto incident, a scammer who absconded with a staggering $71 million worth of WBTC from a trader has now begun refunding in Ethereum, a development that has sparked intrigue across the global crypto community. As per insights revealed by various on-chain analytics platforms on May 10, it was disclosed
The crypto scammer behind the poisoning attack, responsible for stealing wrapped bitcoin (WBTC) worth $71 million, contacted the victim and asked for their Telegram details before sending over 51 ETH, equivalent to approximately $151,600. The interaction, made known by the crypto investigator ZachXBT, was carried out on the Ethereum blockchain via an input data message
Following a wallet impersonation scam resulting in the theft of $71 million in WBTC, the stolen funds have begun moving after six days.
