This week, Tether chain-swap $1 Billion USDT, South Korea seized $104 Million USD
BitcoinChaser’s first article, $104M Stained From Terra Co-Founder and El Salvador Still Holds with Bitcoin – News Roundup, appeared first on BitcoinChaser.
Tether chain-swap $1B USDT this week, South Korea seized $104M USD from TerraForm cofounder, Cardano announced the launch of a new Blockchain project and Cardano approved the seizure of 140 billion won (approx. On suspicion of making unfair profits, Shin Hyun-seong (disgraced TerraForm Labs founder) was ordered to freeze assets worth $104.4 million USD. Shin Hyun-seong’s prosecutors claim that he sold Terra pre-issued securities to unsuspecting investors. Do Kwon, the other co-founder of Tether, is still being sought by international authorities. He has been on the run from September and cannot be brought to court. Read more at CoinTelegraphTether to Switch $1 Billion USDT from Solana Blockchain to Ethereum This announcement comes after Solana suffered a $700 million USD loss in the wake the FTX scandal. The platform was also hit by a flash loan exploit that saw $3.5million USD of NIRV stolen. These losses will have a significant impact on the platform’s future. Input Output Global CEO Charles Hoskinson revealed that the company will release a new privacy blockchain called ‘Midnight’. This new blockchain will use a zero-knowledge protocol that will be built on Cardano. Their goal is to create a blockchain with smart contract protocols that ensure that all transactions and other activities on the platform are truly anonymous. This will allow for complete anonymity for all users. Read more on Yahoo! FinanceEl Salvador still stands by Bitcoin. Nayib Bukele tweeted that the country would start buying one Bitcoin (BTC). El Salvador adopted BTC in September 2013 as its legal tender. Despite the lackluster response from its citizens, El Salvador’s president maintained his optimistic, BTC maximalist approach towards the cryptocurrency. El Salvador had 2,381 BTC as of last Thursday. It was worth $39,274,595 US at that time. Read more on CryptoPotato. On November 16, Simon Kofe, Tuvalu’s foreign minister, stated to attendees at the COP27 climate summit, that the island nation was exploring ways to preserve its heritage in the face the island’s slow sinking due to rising sea levels. One option they are looking at is to preserve the island’s history and on the Metaverse. They are considering preserving the island and its history on the Metaverse. The pilot program is designed to determine whether it is feasible to adopt a state-issued cryptocurrency and whether it can balance its applications with all laws and regulations. Read more on Washington ExaminerChinese man sentenced to 10 years imprisonment for ETH theft. A Chinese court sentenced Li Moumou to 10 year and 6 month imprisonment after finding him guilty in hacking into and stealing 384 Ethereum from a single victim’s crypto wallet between March 2018 and April 2018. Moumou immediately exchanged the ETH for USDT after he had stolen it. Each ETH was worth approximately $50 USD at the time. This made the stolen amount about $172,650 USD. The ETH value was around $1250 USD per ETH, which makes the stolen amounts currently worth $480,000 USD. Moumou was also sentenced to a prison term and fined RMB 200 000 ($28,390.14). Moumou was also fined RMB 200,000 ($28,390.14). This BTC was worth approximately $2.435 million USD at the time. It made the address holder the largest noncryptocurrency exchange platform entity to have BTC in one account. The whale is not currently known. Read more at Daily HODL