3 weeks ago
12
Summary
- WazirX crypto exchange celebrating 7th anniversary with pain.
- Peter Schiff became a Bitcoiner officially.
- 1inch crypto exchange successfully negotiated with the hacker who drained $5M.
- Gemini crypto exchange decided to file for IPO.
- Chinese police in Shanghai arrested YesCoin co-founder.
Wazirx Celebrates 7th Anniversary
WazirX CEO Nischal Shetty shared his pain at the 7th anniversary of the WazirX exchange. He said that in the last 7 years, the WazirX exchange went through different types of achievements & losses. In particular, he talked about the 2023 WazirX hack incident in which the North Korean hacking group Lazarus drained nearly 50%, which corresponds to $250 million, of the WazirX customers’ funds.
Shared this with the WazirX team today. Thought I should share with all of you too.
7 years ago, WazirX was launched. A lot has happened since then. We're hurt but not out.
We have a lot of work to do, to create more value than what was stolen. Your support will help us make… pic.twitter.com/wrLE8S8oM7
Peter Schiff Becomes Bitcoiner
Peter Schiff opted for a very different approach to criticize Bitcoin investors. He shared his Bitcoin wallet address with his X followers to get a BTC donation. He said that he will not invest in Bitcoin & also will never sell, just like the US government’s Bitcoin Strategic Reserve (BSR).
Texas To Pass Bitcoin Strategic Reserve (BSR)
The Senate of the US State of Texas has passed SB21 to establish a state-level Bitcoin reserve concept. Experts close to this matter believe that the bill will not face any kind of further opposition. In the final phase, it will get approval from the House of Representatives and later signature from the Governor before it can become law. Bitcoin experts believe this decision could push the Bitcoin market capitalization to at least $500 billion.
The Texas Senate has passed Senate Bill No. 21, which would establish a state-level Bitcoin reserve. The bill now awaits approval by the House of Representatives and the Governor’s signature before it can become law. This reserve would hold BTC and other cryptocurrency with a…
— Wu Blockchain (@WuBlockchain) March 9, 20251inch Exchange Hack Incident
On March 5, 2025, decentralized exchange aggregator 1inch faced a security breach. Exploiter drained nearly $5 million worth of cryptocurrencies from the platform. To handle the situation, the 1inch team collaborated with the affected resolvers to secure their systems and urged all resolvers to audit and update their contracts promptly.
This incident underscores the critical importance of maintaining up-to-date smart contract implementations and conducting regular security audits to protect decentralized finance platforms from potential exploits.
Latest reports confirmed that the exchange negotiated with the hacker to return the majority of the stolen funds with the hacker keeping a portion as a bug bounty.
1inch has taken extensive precautionary measures to block further exploits.
Resolvers are strongly advised to review their contracts and security arrangements.
Gemini to File for IPO
Bloomberg reported that insiders disclosed that Gemini crypto exchange confidentially filed for an IPO and also it is working with Goldman Sachs and Citigroup to make its IPO more smooth. Experts close to the matter believe Gemini could go public as soon as this year.
Crypto enthusiasts said that Gemini’s decision to go public is totally influenced by the changing crypto regulatory landscape in the US jurisdiction, thanks to the presidency of Donald Trump.
Yescoin Crypto Game Project Dispute
Yescoin, a popular mini-game crypto project in the TON ecosystem, has experienced internal conflict. The official X (formerly Twitter) account of YesCoin informed the Crypto community that a business partner reported to the police against another YesCoin co-founder because of a business conflict. In response to the report, the founder was detained by Shanghai police in China.
Read also: World-Famous Bitcoin Critic Peter Schiff Has Become a Bitcoiner Officially!
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
English (US) · 