Dutch authorities have arrested a 29-year-old man suspected of being a developer for the crypto mixing service Tornado Cash. The cryptocurrency blending service was put on a US sanctions list on Monday, over allegations that it has been used to launder more than $7 billion (roughly Rs. 55,700 crore) worth of virtual currency since 2019.
India’s Enforcement Directorate (ED), a government agency that is responsible for probing financial crimes, has frozen assets worth $46.4 million (roughly Rs. 369.5 crore) at crypto exchange Vauld.
The United Nations Conference on Trade and Development (UNCTAD) warns that the rising use of crypto for domestic payments and remittances may cause “leakage” of development funds. The UN development recommends recommends extra taxes on transactions and ad restrictions to boost states’ revenue and safeguard financial stability in developing countries.
Total Value Locked or the TVL is the amount of user funds deposited in a DeFi protocol. These funds could be vested in the project for several functions like staking, liquidity pools, or lending.
Over the past few years, the Internet has begun to move towards a more decentralised model. Web 3.0, the successor to the current Web 2.0 model, relies on blockchain technology, a distributed digital ledger or database where encrypted blocks of data are stored and chained together. Here’s why Gaurav Arora, Senior Vice President, CoinDCX Pro, thinks India’s economy ca…
After a strong rally on Thursday, the crypto market saw some profit booking on Friday. Bitcoin breathed below $24,000 (roughly Rs. 19.06 lakh), whereas Ethereum held at the $1,900 (roughly Rs. 1.50 lakh) mark ahead of its much-awaited merge buzz.
Oasis, a decentralised finance (DeFi) platform on Thursday, August 12 announced that it is blocking crypto wallets that are sanctioned and marked as high risks by the government. Oasis is also tightening scrutiny around wallets that have a history with receiving funds via crypto mixers such as Tornado Cash. The step comes in the backdrop of back-to-back hack attacks t…
OpenSea NFT marketplace has decided to involve police officials in theft cases of all magnitudes, rather than on cases only with escalated disputes. The change comes as part of OpenSea’s efforts to ensure that users are safeguarded against the risks of mistakenly buying stolen digital collectibles.
India is at the seventh spot in the list of countries that owned digital currencies in 2021, according to UNCTAD. The agency also claims that over 7 percent of Indians owned digital currency in the form of cryptocurrency in 2021. Meanwhile, Reserve Bank of India Governor Shaktikanta Das recently said that cryptocurrencies are a clear danger and anything that derives v…
The Merge developers have moved up its release date, from previously announced September 19 to September 15. While Merge’s alignment with Goeri has been activated, the developers will wait for some hours to determine its success post thorough evaluation. The makers of Merge are waiting for the total Terminal Difficulty (TTD) to hit 58750000000000000000000.