Day: April 11, 2025

Ethical hacker intercepts $2.6M in Morpho Labs exploit

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A known maximal extractable value (MEV) white hat actor intercepted about $2.6 million in crypto assets stolen from Morpho Labs’ decentralized finance (DeFi) protocol.  On April 10, Morpho Labs implemented a front-end update on its Morpho Blue application. A day later, a hacker breached an address through a vulnerability caused by the update. Blockchain security firm PeckShield reported that an address lost $2.6 million due to the vulnerability.  However, the security firm noted that “c0ffeebabe.eth,” a known white hat MEV operator, had front-run the transaction, effectively intercepting the stolen funds.…

Bollinger Bands creator says Bitcoin forming ‘classic’ floor near $80K

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Bitcoin (BTC) is exhibiting familiar “bottom” behavior at current prices, according to one of its best-known leading indicators.  In an X post on April 10, John Bollinger, creator of the Bollinger Bands volatility metric, offered potentially good news to Bitcoin bulls. Bollinger bands %b metric teases BTC price comeback Bitcoin may already be establishing a long-term bottom, the latest Bollinger Bands data suggests. Analyzing weekly timeframes, Bollinger drew attention to one of his proprietary indicators, known as “%b,” which offers further clues about market trend reversals. The indicator %b measures…

SEC, Ripple file joint motion to pause appeals in XRP case

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The US Securities and Exchange Commission and blockchain payments firm Ripple agreed to pause their appeals in the ongoing XRP legal battle, signaling a potential move toward a final settlement. The SEC and Ripple agreed to put their appeals in “abeyance,” meaning the proceedings are now paused pending an anticipated settlement of the XRP (XRP) case. “An abeyance would conserve judicial and party resources while the parties continue to pursue a negotiated resolution of this matter,” the parties jointly stated in an April 10 court filing. Ripple CEO Brad Garlinghouse…

Grayscale and Osprey end 2-year legal fight over Bitcoin ETF promotion

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Asset managers Osprey Funds and Grayscale Investments agreed to settle a lawsuit over alleged violations of Connecticut law in the advertising and promotion of Grayscale’s Bitcoin exchange-traded fund (ETF).  According to an April 9 court filing, the parties agreed to settle the two-year-old case and are finalizing documentation and settlement terms. The filing noted that once those steps are completed, Osprey will withdraw its appeal. “Soon after this appeal was filed, the parties reached a settlement of this case,” the motion stated. “It is expected that all these tasks can…

Illinois Senate passes crypto bill to fight fraud and rug pulls

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The Illinois Senate by a vote of 39 to 17 passed a regulatory bill aimed at curbing cryptocurrency fraud and protecting investors from deceptive practices, including rug pulls and misleading fee structures. On April 10, the chamber passed Senate Bill 1797 (SB1797), also known as the Digital Assets and Consumer Protection Act, which Senator Mark Walker introduced in February. The bill gives the Illinois Department of Financial and Professional Regulation authority to oversee digital asset business activity within the state. Under the legislation, any entity engaging in digital asset business…

Feds, SEC charge app maker with fraud, saying ‘AI’ service was Philippine workers

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US authorities have charged a tech app founder with fraud, alleging that his advertised artificial intelligence-powered e-commerce app actually relied on human workers in the Philippines. Albert Saniger of Barcelona, Spain, founder and former CEO of the company Nate, was charged with one count of securities fraud and wire fraud, the Justice Department said in an April 9 statement, while the Securities and Exchange Commission filed a parallel civil action. Court documents said Saniger founded Nate around 2018 and launched an app of the same name in July 2020, marketing…

Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x Research

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It may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin’s price, says 10x Research head of research Markus Thielen. Thielen said in an April 11 markets report that credit spreads continue to widen, indicating that “recessionary concerns may be seeping deeper into the economy.” “Expecting a bullish impulse is too early,” he said. Bitcoin may face short-term headwinds While the long-term effects of a recession could be bullish for Bitcoin (BTC) — due to the monetary easing that typically…

Democrats slam DOJ’s ‘grave mistake’ in disbanding crypto crime unit

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Crypto-critical US Senator Elizabeth Warren has led six Senate Democrats in urging the Department of Justice to reverse its decision to terminate its crypto investigations and prosecutions division. In an April 10 letter to Deputy Attorney General Todd Blanche, the Senators said the decision to disband the department’s National Cryptocurrency Enforcement Team was a “grave mistake” that would support “sanctions evasion, drug trafficking, scams, and child sexual exploitation.” Senators Richard Durbin, Mazie Hirono, Sheldon Whitehouse, Christopher Coons and Richard Blumenthal signed the letter in addition to Warren. On April 7,…

US crypto miners may rush to buy rigs in tariff pause despite ‘clear disadvantage’

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US Bitcoin mining firms will try to capitalize on the Trump administration’s recent tariff pause by stocking up on mining rigs, but the baseline 10% tariffs will still leave the industry at a disadvantage, industry executives say. President Donald Trump paused his administration’s hefty reciprocal tariffs until July 8, but kept a minimum 10% tariff on most countries bar China, which had its rate hiked to 145%. Hashlabs CEO Jaran Mellerud told Cointelegraph that while the 10% levy is much lighter than the initial tariffs, US miners are still at…

BNB Price Recovery in Motion—Uphill Battle Ahead Near Crucial $600 Level

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…