Get Smarter About Crypto

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What we will talk about today...

🌐💔 Why Crypto Hackers Got More Than $360 Million in February

⚡️🚀 Bitcoin Whale Moves 1,000 Old Coins as BTC Hits Record High

📜💡 Nexo Gets Ready to Offer Crypto Services in Dubai

Why Crypto Hackers Got More Than $360 Million in February

Crypto hackers had a good February, doing 21 attacks that got them a big $360.83 million in bad gains—almost two times the amount stolen in January, according to a report by Peckshield, a blockchain security company.

🌐 Playdapp Loss Biggest

The biggest break involved Playdapp, a Web3 gaming platform, losing a big $290 million in days of the security problem. Even though they tried to talk and offered $1 million for the money back, the hackers did not care, moving the cryptocurrency through different platforms.

💔 Fixedfloat and Axie Infinity Co-Founder Lost

Fixedfloat, a no-KYC exchange, had an attack making almost $26 million in losses. Also, Jeff “Jihoz” Zirlin, Axie Infinity’s co-founder, was a target, losing about $10 million worth of ether.

🌐 More Threats

The rise in cryptocurrency theft shows more threats. As cryptocurrencies get more value, so does the interest of bad actors. Always being careful, learning, and doing things before are important to lower risks in the crypto space.

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Bitcoin Whale Moves 1,000 Old Coins as BTC Hits Record High

A mysterious bitcoin whale, who has been making large transactions since 2020, moved 1,000 bitcoins from 2010 on March 5, 2024. This was the same day that BTC reached its highest price ever at $69,210.

🐋 What You Need to Know

The 1,000 bitcoins were worth $63.29 million at the time of the transfer.

The whale followed its usual pattern of moving 20 block rewards from 2010 in 20 separate transactions.

The coins were mined in late 2010 when BTC was worth less than $0.39.

📈 Why It Matters

The whale seems to have a knack for timing, as it often moves coins when BTC hits important milestones or dates.

This was the 16th time that the whale’s activity was detected by btcparser.com, a website that tracks ‘sleeping bitcoin’ addresses.

The whale has moved a total of 17,000 BTC from old addresses in the past four years.

🤔 What It Means

The whale’s actions spark curiosity and speculation about who it is and what it plans to do with the coins.

The movements show the lasting appeal and power of Bitcoin’s early mined coins.

The whale’s mystery adds to the fascination and complexity of the cryptocurrency world. 🐳💼

Nexo Gets Ready to Offer Crypto Services in Dubai

Nexo, a crypto lending company, has received initial approval from Dubai’s crypto regulator, VARA, to start its virtual asset lending, borrowing, and trading activities in the UAE.

🚀 Nexo Leads the Way in Dubai’s Crypto Sector

Nexo’s “Initial Approval” (IA) from VARA makes it one of the first crypto lenders in the region. Nexo plans to offer innovative lending, brokerage, and investment solutions that match Dubai’s vision and governance.

📜 Nexo Follows VARA’s Licensing Process

Nexo has to complete three steps to get a full license from VARA. Nexo is now in the first step and aims to get the final approval soon. Nexo respects regional laws and regulations.

🚀 Dubai Becomes a Crypto Hub

Dubai and the UAE are attracting many crypto and blockchain companies. Some of the well-known crypto firms that work with VARA are Okx, Nine Blocks Capital, Bybit, and Bitoasis.

📅 Dubai Has Crypto Rules Since 2023

VARA was set up in 2022 and issued its crypto rules on Feb. 7, 2023. The region wants to create a friendly and safe environment for crypto businesses and users.

Nexo’s move shows that Dubai is an important place for the crypto and blockchain industry. 🌐💼

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HOW DID WE DO? 🤷

Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎