Jamesbitte

Monat: Februar 2023

INSAI v.2.0: Revolutionary AI Bot Transforms Crypto Trading

21. Februar 2023 /

• INSAI is launching its highly anticipated v.2.0 AI predictive bot, a machine learning-based algorithm that can accurately analyze cryptocurrency prices.
• The beta release of the first utility, v1.0, demonstrated promise in providing reliable predictions for tokens taken from CoinMarketCap.
• INSAI’s success in the market is evidenced by the impressive launch of its token, which quickly hit a market cap of over $400,000 on its first day and has since stabilized.

INSAI Launches AI Predictive Bot

INSAI, an innovative predictive AI technology company, is preparing to launch their highly anticipated v.2.0 AI predictive bot. This machine learning-based algorithm can accurately analyze parameters to predict cryptocurrency prices and provide traders with data-driven insights to make informed decisions about their investments.

Beta Release Of First Utility

The beta release of the first utility, v1.0, demonstrated significant potential in providing reliable predictions for tokens taken from CoinMarketCap. It has been met with excitement from early adopters and investors alike due to its breakthrough technology capabilities.

Successful Token Launch

The success of INSAI’s groundbreaking technology is further evidenced by the recent launch of their token, $INSAI, which quickly hit a market capitalization of over $400K on its first day and has since stabilized at high levels – garnering attention from major players within the blockchain space and sparking rumors about potential incubation partnerships.

Telegram Bot & Features

INSAI v.2’s form takes that of a Telegram bot offering analyses and predictions for any token contract address on the blockchain in an extremely user friendly format – making it the world’s first legitimately functioning AI Telegram price prediction bot for traders in this fast paced industry . Long term plans include integrating their model with the blockchain to develop key features such as contributing to more efficient decentralized trading systems and improving access worldwide to blockchain trading opportunities .

Driving Innovation & Adoption

The explosive success of INSAI demonstrates not only its own potential for growth but also that of other projects driving innovation and adoption within this industry – bringing pioneering solutions like theirs into mainstream usage which ultimately helps reduce volatility whilst increasing stability through accurate price forecasting ensuring mainstream usage .

Hacker Steals $3.6M from DeFi Protocol dForce in Reentrancy Attack

13. Februar 2023 /

• dForce suffered a loss of over $3.6 million due to a reentrancy attack executed on the Arbitrum and Optimism chains.
• The attack was due to a vulnerability in a smart contract function connected to Curve Finance.
• dForce has paused all contracts, stressed that customer funds remain safe, and offered the attacker a bounty if the funds were returned.

Overview of Attack on dForce

DeFi protocol dForce suffered a loss of over $3.6 million, which the hacker was able to siphon off thanks to an exploit on the Arbitrum and Optimism blockchains.

Vulnerability Exploited

The attack was due to a vulnerability in a smart contract function connected to Curve Finance that allowed users to calculate oracle prices when connected to Curve Finance. The hack was brought to light by Twitter user @ZoomerAnon who tweeted that dForce had lost around $1.7 million through flash loan transactions executed on the Optimism Chain. Blockchain security firm PeckShield confirmed the attack and put the damages at around 2300 ETH, worth around $3.65 million.

Action Taken by dForce

DeForce also confirmed the attack on its official Twitter handle, adding that it had paused all vaults to avoid additional damage. So far, the funds are still sitting in the hacker’s account and DeForce has paused all contracts to prevent additional losses as well as stressing that customer funds remain safe. DeForce also stated that they would offer up a bounty if the stolen funds were returned.

Details Of The Attack

According to available details about the attack, hackers were able exploit reentrancy vulnerability present in a smart contract function used by dForce for obtaining oracle prices from Arbitrum and Optimism blockchains using flash loans from Curve’s vault (wstETHCRV-gauge). Reentrancy attacks occur when hackers are able manipulate bugs in smart contracts allowing them repeatedly withdraw funds transferring them into unauthorized contracts .

Conclusion

In conclusion, blockchain security firm PeckShield confirmed that an attacker had siphoned off $3.6 Million worth of cryptocurrency through exploitation of vulnerabilities present within smart contract functions linked with Curve finance on Arbitrum & Optimism chain resulting in Dforce confirming via their twitter handle & offering up bounty if stolen funds are returned while pausing all vaults & stressing customer’s fund remain safe

DoJ Launches Probe into Silvergate Capital Amid FTX Debacle

6. Februar 2023 /

• The United States Department of Justice has launched a probe into Silvergate Capital Corp. and its dealings with bankrupt crypto firm FTX and its sister concern Alameda Research.
• Prosecutors are investigating the company’s risk management practices and further information on its dealings with FTX, as it had been hosting several accounts tied to several businesses associated with FTX founder Sam Bankman-Fried.
• A criminal probe is underway, as Silvergate’s stock has lost 88% of their value in 2022 and were down 40% in premarket trading. Although no charges have been brought against Silvergate, that eventuality is a possibility.

Overview of Silvergate Capital Corp.

The United States Department of Justice has launched a probe into Silvergate Capital Corp., which went public in November 2019 and soon entered the crypto market to become a significant bank for crypto companies that were turned down by traditional banking service providers. It became one of the chief backers of FTX, witnessing over two-thirds of its customer base withdrawing deposits of over $8 billion after the crypto exchange collapsed resulting in a net loss of $1 billion for the bank in the fourth quarter of 2022.

Department Of Justice Investigation

The DoJ is now looking into the operations of Silvergate Captial Corp., especially those with FTX and Alameda Research. Federal prosecutors from the DoJ’s fraud section are conducting a criminal probe into the bank’s dealings, while it was requested by a bipartisan group of United States Senators for details on its risk management practices and further information on its dealings with FTX.

Consequences For Silvergate

The collapse of the FTX ecosystem spelled major trouble for Silvergate as it had to resort to drastic layoffs to mitigate damages incurred by it along with increased scrutiny from government bodies and policymakers due to FUD amongst wary investors caused by judicial scrutiny weighing down on its performance.

Risk Of Charges

Although no charges have been brought against Silvergate yet, that eventuality is still possible given anti-crypto sentiments among most U.S government departments .

Conclusion

Silvergate Captial Corp.’s stock has suffered immense losses due to its involvement withFTX leading to an investigation conducted by federal prosecutors in lightof increasing anti-crypto sentiment among U.S government departments although no charges have been brought against them yet there still remains potential risk if this situation continues or worsens

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