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Binance Luna Classic news: the exchange raised leverage on LUNA Classic futures (LUNC) to 25x

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binance Luna Classic news

Binance Luna Classic news: On September 9, Binance announced the launch of a new perpetual LUNC token futures with leverage of 25x. The futures will be settled in USDT. The news helped the token resume growth after an intraday correction.

In May 2022, Binance delisted LUNA-linked derivatives and reduced leverage on perpetual contracts from 25x to 8x, citing a desire to mitigate the crisis.

Binance said it would support a transaction tax on LUNC transactions, which involves burning 1.2% of the transaction amount. Such a tax will be levied starting Sept. 20, on a block of 9,475,000, but will apply only to deposits, and withdrawals. It will not apply to margin and spot market transactions.

Earlier, the decision to impose a transaction tax on Terra Classic was approved by the ecosystem community. These measures are expected to help raise the value of the token.

Since the Luna token fell into the death vortex, the volume of coins in circulation has grown to 6.2 trillion. Therefore, despite its paltry value – $0.00045 at the time of publication – LUNC is in 27th place in the ranking of cryptocurrencies by market capitalization size.

Current price of Luna Classic and potential top of LUNC

Earlier, the LUNC exchange rate reached important resistance levels. The technical picture suggests that LUNC has already reached the top.

Moreover, the LUNC exchange rate has already started to decrease. On Friday the token tested the low at $0.00036, which is 40% below the peak. Then the price rushed upward again, forming a long lower shadow on the candlestick chart (green icon).

Despite that, the price is still within the A-B-C corrective structure and it is at risk of falling into the range of $0.00028-$0.00034, marked by the Fibonacci retracement levels.

Previously, we reported that Terra Classic introduced new transfer taxes on the network.

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China has uncovered a money laundering scheme involving the digital yuan. How does money laundering work? 

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how does money laundering work

Chinese authorities have uncovered a 200 million yuan (~$28 million) money-laundering scheme where criminals used the digital yuan. Local newspaper Renmin Jibao writes about it. How does money laundering work?

It is reported that the criminals were detained in Fujian province. According to law enforcement authorities, the criminal group, led by Lai Moumou and Zheng Moumou, provided illegal services for the settlement of money to support gambling businesses. It is also noted that the group formed entire cells throughout China and worked on money laundering.

This is the second reported case of the digital yuan appearing in illegal activities. Earlier, the editorial board wrote that the People’s Bank of China decided to amend the digital yuan model after authorities uncovered an eleven-person criminal cell that used the digital state currency to launder money.

According to local media reports, the scammers used phishing to obtain the digital state currency, which they later ran through banks and payment systems. The amount of the fraud was not disclosed. However, it remains unclear whether the incident was the reason for the digital currency changes.

Work on the Central Bank Digital Currency (CBDC) or DCEP, as representatives of the financial regulator themselves call the project, has been underway since 2014. In this case, the head of the Chinese Central Bank Yi Gang, noted that the financial institution has no clear timetable for the launch of the digital yuan. The banker drew attention to the fact that information about the pilot release of the digital asset and related initiatives should not be equated with the official release of the virtual yuan.

We previously reported that the creator of Fortnite has invested in a metaverse company.

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FBI tracked Colonial Pipeline hackers through Chainalysis

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Colonial Pipeline hackers apologize

Recently, Colonial Pipeline has been hacked again. But the Federal Bureau of Investigation (FBI) could identify Colonial Pipeline hackers through analytics firm Chainalysis. It is reported by Bloomberg, citing representatives of the firm.

It is not clear how exactly the FBI could identify the attackers. It is alleged that Chainalysis collects a large amount of data from the blockchain and also relies on off-network information received from customers. The analytics firm uses machine learning and statistical analysis to figure out where and to whom cryptocurrency might be sent.

In May 2021, a group of hackers called DarkSide hacked and shut down the Colonial Pipeline, one of the largest oil pipelines in the United States, causing a fuel shortage on the East Coast. As a ransom, the hackers demanded that 75 BTC be transferred to an anonymous wallet. Colonial Pipeline hackers then apologized.

Earlier in September, analysts at Group-IB found that the number of cryptocurrency-related fraud sites rose to 2,000 in the first half of 2022, a 335% increase over the entire 2021. At the same time, just over 60% of all fraudulent crypto-sites are registered through Russian providers.

Earlier we reported that Cardano Vasil should be fully completed to activate all features.

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Is Kraken a good crypto exchange? Kraken has no plans to change its listing due to SEC complaints

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Cryptocurrency exchange Kraken is not going to remove from its listing tokens that the U.S. Securities and Exchange Commission (SEC) compares to securities. Cryptocurrency exchange Kraken CEO Dave Ripley told Reuters.

Is Kraken a good crypto exchange?

Recall, earlier media revealed that the U.S. exchange regulator has organized an investigation into the actions of cryptocurrency exchange Coinbase to list tokens. The reason for launching the investigation was the SEC’s suspicions that Coinbase opened American users’ access to transactions with cryptocurrencies, which can be classified as securities.

However, despite the investigation, the exchange regulator did not sue Coinbase, which has already surprised Ripple, which has long been in litigation with the SEC over the altcoin XRP.

The SEC sued Ripple back in late 2020. The regulator argues that XRP falls under the definition of securities, but the California-based startup disagrees. While the verdict on the lawsuit between the SEC and Ripple probably won’t appear until late 2022, Coinbase was one of the first cryptocurrency exchanges to remove XRP from its listing.

We previously reported on researchers finding vulnerabilities in cryptocurrency exchanges.

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