Here are some of the major developments from the world of crypto over the past few days
Israel-based social trading company Etoro has partnered with Twitter to allow users of the social media platform to invest in cryptocurrencies and other assets. Twitter CEO Elon Musk’s move is viewed as a step towards turning Twitter into a “super app” that will also provide financial and a range of other services.
“We will offer market charts on various assets and give users the option to buy and sell stocks and cryptocurrencies,” Bitcoin News quoted Etoro as saying.
The '$Cashtags' feature on Twitter, which was launched in December 2022, already provides real-time data on some index funds and shares. Thanks to the new partnership, however, users will have information about an expanded range of financial instruments, Etoro told CNBC.
To access the data, users need to search for a ticker symbol and insert the dollar sign in front of it, which will prompt the app to display price information from Tradingview, which is the market data provider. A newly added ‘view on Etoro’ button will allow them to trade the assets through the website.
Hacker Robs Crypto Exchange Bitrue Of $23M In Ethereum, SHIB, Other Assets
Crypto exchange Bitrue announced this morning that it had identified an exploit in one of its hot wallets.
The attacker was able to withdraw assets valued at approximately $23 million in Ethereum (ETH), Quatn (QNT), GALA, Shiba Inu (SHIB), Holo (HOT), and Polygon (MATIC).
Hot wallets are a type of crypto wallets that are used for storing cryptocurrencies. They are connected to the Internet and are easily accessible. These are, however, more vulnerable to cyberattacks and theft than cold wallets, which are not connected to the Internet.
The attacker swapped 173,000 QNT, 22.55 billion SHIB, 46.4 million GALA, and 310,000 MATIC for 8,540 ETH and withdrew this to the Ethereum address, Decrypt quoted Blockchain security firm PeckShield as saying. The address currently holds $3.2 million worth mainly in SHIB and HOT.
Crypto Needs Immediate Attention From World, Says Sitharaman
Union Minister of Finance Nirmala Sitharaman has called for urgent attention to be given to issues related to crypto assets. She said this during a brainstorming session with G20 finance ministers and central bank governors.
She said that crypto assets not backed by central banks can fall and cause macroeconomic instability.
There was a greater acceptance among Group of 20 member countries that any new regulations on crypto assets need to be globally coordinated, she said.
She stressed the need for a globally coordinated policy response on crypto assets that considers the full range of risks, including those specific to emerging markets and developing economies.