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Harmony hacker sends stolen funds to Tornado Cash mixer

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The funds from Harmony’s Horizon Bridge have begun to move into the Tornado Cash Ethererum mixer, signaling that the attacker has no intention of accepting the $1 million bounty offered.

The decision to obfuscate the ill-gotten gains answers questions about whether the Harmony team’s offer of just 1% of the $100 million in crypto funds stolen on June 24 would be enough to convince the exploiter to return them.

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Cryptocurrency

Chainlink protocol developers refused to support next Ethereum fork

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next ethereum fork

Ethereum is preparing to switch to PoS, and the community expects forks of the second cryptocurrency to appear on the old PoW algorithm. However, Chainlink developers do not plan to support the next Ethereum fork.

The developers of the Chainlink decentralized oracles network emphasized that oracles will work both during the next Ethereum fork on the Proof-of-Stake (PoS) algorithm and after that. However, they warned that forks of the second cryptocurrency, including on Proof-of-Work (PoW), are not planned to be supported.

“This decision is consistent with Ethereum Foundation decisions and the general view of the Etherium community,” Chainlink said on its website.

Developers have also advised decentralized app creators to disable functionality during the merger to “avoid unforeseen incidents and protect end users.” Also, developers need to make sure that dependencies on external projects and applications will work after the transition of Etherium to PoS.

As a reminder, Chandler Guo, a major Chinese ether miner, previously announced a new ETHPoW minority network for miners who want to “escape” from Etherium 2.0.



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PredictIt news: CFTC shuts down PredictIt prediction market in US

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Important PredictIt news: The U.S. Commodity Futures Trading Commission (CFTC) has issued an order to shut down one of the most popular blockchain-based prediction markets, PredictIt.

The PredictIt marketplace, operated by Victoria University of New Zealand, had been operating in the U.S. since October 2014, when the company received a no-action letter from the CFTC. However, the regulator has now stated that the prediction marketplace does not follow the requirements listed in the letter, so the Commission has decided to ban the service in the U.S.

What is PredictIt 2022? 

The PredictIt prediction market is called a “stock market for politics.” Essentially, traders buy and sell stocks that rate the outcome of an event. If the community agrees with the trader, the stock price goes up and the trader makes a profit. Many call such prediction markets the most accurate measure of public opinion because users risk their money.

However, regulators believe that prediction markets are too similar to gambling or unregistered futures sales. Especially since it is illegal in the U.S. to bet on the outcome of presidential elections, and many prediction markets have markets on politics.

CFTC officials did not say exactly what regulatory requirements the site has violated, but it must cease operations in the U.S. by February 15, 2023. Until then, PredictIt can accept deposits and calculate bets on existing predictions, but adding new markets is prohibited.

Earlier this year, prediction marketplace Polymarket blocked US users from accessing the platform. The blocking was part of an agreement to settle claims against Polymarket by the CFTC.



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Is bitcoin mining profitable today? Bitcoin mining difficulty drops for third month in a row

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is bitcoin mining profitable

Is bitcoin mining profitable? The difficulty of mining bitcoin began to drop precipitously as the largest-capitalization cryptocurrency’s price fell below $20,000

The Bitcoin Blockchain Network (BTC) is recording a decline in the number of active miners, which is reflected in a gradual drop in complexity. According to btc.com, bitcoin’s complexity has been dropping with each recalculation since May 10, and in late July the values dropped to the level of March this year.

Despite the decline, the situation so far does not look as dramatic as during the move of miners from China in the summer of 2021. Then it took only a little more than a month to zero out the semiannual capacity. However, it is worth noting that the current decline was the first systematic drop in bitcoin mining complexity since the “cryptocurrency winter” of 2018.

The drop in bitcoin mining algorithm complexity may be the result of a capacity outage from the network. As a reminder, the media has previously repeatedly reported on large sales of bitcoin reserves by miners to cover loans.

In June, the editorial board wrote that mining centers were in danger of closing as cryptocurrency miners were having difficulty meeting their credit obligations. Luxor Technologies co-founder Ethan Vera told Bloomberg that many lenders (Bable Finance, Galaxy Digital, bankrupt Celsius Network, BlockFi, Foundry Networks) are concerned that they have made too many loans to secure the mining devices themselves. He estimates that the firms have issued $4 billion in loans in total.

It remains unclear whether the miners could reach a consensus with their lenders. However, the weekly drop in complexity may signal that bitcoin miners still seem to have to cut back on processing capacity.

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