After attempting to exchange the stolen KuCoin tokens on Binance, the hackers turned to Uniswap, a decentralized exchange platform. On the other hand, the OCEAN and SXN tokens were exchanged for ETH, causing the price of these to plummet instantly. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 Larry Cermac, a researcher at The Block and Whale Alert, an intelligence service for cryptocurrencies, , reveal that hackers of KuCoin They are moving a large part of the stolen tokens to the decentralized exchange Uniswap, in an attempt to exchange the tokens to ETH.
For its part, Etherscan also muestra that over 200.000 OCEAN was moved to an address to then be exchanged for ETH via Uniswap. In total, 13 exchanges of 10.000 OCEAN each have been made, for a total sum of 130.000 OCEAN exchanged for ETH. SNX tokens stolen from KuCoin are also being sent to the decentralized exchange to be exchanged in the same way. Whale Alert also reports that hackers have moved over $5 million to chainlink, the blockchain oracle platform that connects the real world with cryptocurrencies through a network. Through this medium it was reported that the hack a KuCoin resulted in the theft of $150 million in Bitcoin and various tokens ERC-20.
📍 After the news broke, the prices of the OCEAN and SXN tokens plummeted. OCEAN has a current value of $0,35 USD, down 13% as CoinMarketCap shows. While SXN is currently priced at $4,95 USD, showing a 4,24% drop in value. Although the price of both tokens plummeted immediately after news broke of hackers trading these tokens on Uniswap, at press time the value of OCEAN and SXN remains relatively stable.
📍 In New Zealand, the Inland Revenue Department (IRD) is requiring companies and businesses that provide financial services with cryptocurrencies and digital assets to report to the entity on the use that their clients give to these assets. According to the release, the IRD is requesting this information from the exchanges and cryptocurrency exchanges to gain a better insight and understanding of how cryptocurrency ecosystems are developing in New Zealand. The entity claims that in this way they will be able to "finding the best way to help taxpayers meet their income tax obligations" in the country.
A similar initiative is taking place in the United States, with the letters issued by the United States Internal Revenue Service (IRS)Who solicitous cryptocurrency users and enthusiasts to declare their holdings in digital assets to the entity. In addition, in mid-June, the authority also requested Coinbase to creación a surveillance tool to monitor the operations and movements that users make within the exchange.
📍 Ernst & Young, also known as EY, is integrating Explorer & Visualizer solutions to enhance its blockchain analytics tool. The professional services firm says these solutions will enable the company's internal audit teams and accountants to more effectively and efficiently search for specific transactions, addresses, and blocks, thereby gathering relevant information for any of the company's cases. With the new integrations, EY's blockchain analytics tool will significantly aid in the analysis of cryptocurrency and digital asset transactions that take place within various blockchain networks of interest, such as Bitcoin and Ethereum. Ethereum.
📍 In Spain, the School of Legal Practice of the Complutense University of Madrid will hold a meeting virtual open access entitled «Blockchain and Tokenisation: Initial thoughts on the European Commission's proposed regulation on crypto-asset markets», where he will explain the importance of new regulations, as well as the development of new technologies and decentralized finance ecosystems (DeFi). The event will take place on October 1st from 19:00 p.m., and will be hosted by Alfredo Munoz Garcia, professor of Commercial Law (UCM) and co-director lawyer of the High Specialization Diploma in Blockchain UCM; and Jesus Heritage Anton, founder of Shareyourworld, member of Ethereum Madrid and co-director of the High Specialization Diploma in Blockchain at UCM.
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