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Crypto News of the day 31.8. | Hackers stole 1,400 BTCs from Electrum bitcoin wallet • Institutions close most of their short BTC positions • and other news

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Welcome to crypto news of the day 31.8. We have prepared for you an overview of the most important things that happened during the last day in the cryptoworld and crypto market.

Crypto News of the day 31.8. | Hackers stole 1,400 BTCs from Electrum bitcoin wallet • Institutions close most of their short BTC positions • and more articles
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Markets

The total market capitalization of the crypto market has added $ 8.8 billion to its value over the past seven days and now stands at $ 373.1 billion. The top 10 cryptocurrencies were mostly green during the same period, with Polkadot (DOT) being the most profitable with 50.3% gains, while Cardano (ADA) lost 4.8 percent. At the time of writing, BTC traded for about $ 11,600, while ETH rose sharply to $ 426. The ripple stabilized near $ 0.282.

You can monitor the current prices of cryptocurrencies here.

Last crypto news of the day (28.8.) here.

Cryptocurrencies

Ethereum Classic under the third 51% attack this month

Blockchain Ethereum Classic suffered a 51% attack on Saturday night, the third such attack this month. The attack was noticed by the mining company Bitfly, which also recorded the first attack on August 1. The attack reorganized over 7,000 blocks or mining in two days. The first two attacks reorganized 3,693 and 4,000 blocks. After the first two attacks, OKEx replied that it would consider disposing of the asset due to a serious lack of security in the network. Coinbase has also taken drastic action by extending the deposit confirmation and ETC withdrawal period to around two weeks. Following the latest attack, the leading cryptocurrency exchange FTX will reconsider its standing futures contracts for ETC.

Crypto Exchanges, Banks, Companies

Institutions closed most of their short BTC positions

BTC is now trading above a key level of support, which is good for bulls. Institutions are responding to the price action by closing short positions that have opened up the CME bitcoin futures market.

Crypto startup VeChain is collaborating with BMW on the development of a blockchain platform

VeChain is collaborating with the German carmaker BMW to develop an automotive safety platform that will prevent counterfeiting of vehicles. Both companies plan to implement a decentralized blockchain-based application (dApp) VerifyCar, which would collect vehicle data such as mileage, repairs and other services. DApp will run on the VeChainThor blockchain, which would keep the data safe and undamaged. In addition, BMW emphasizes that VerifyCar users have more control over the data collected.

Scams

Hackers stole 1400 BTC from Electrum bitcoin wallet

According to the appropriately named GitHub user “1400 BitcoinStolen”, the huge amount of BTC corresponding to his username is now gone due to the hack that robbed his Bitcoin wallet Electrum. Hack is not the fault of the wallet or the user, but it highlights the importance of two key points. The user has used the Electrum software since he last entered his BTC in 2017. Electrum has since released security updates that the user has not yet installed. Before he could move his bitcoins, he was asked to update and fix potentially critical issues. But when he did, the software contacted the hacker server through abuse, and 1,400 BTCs were immediately transferred from the wallet to the hacker’s account – a grim reminder that you always have your software up to date.

DeFi

Charles Hoskinson is excited about DeFi

During his last AMA on YouTube, IOHK CEO Charles Hoskinson spoke about Cardano and joining decentralized funding. “For example, we have partnered with Emrugo and are working with them right now on the logistics of stablecoin, which we will first build on erg to verify that everything is working properly, and then we will pull it to Cardano and this will be an algorithmic stablecoin. We think it will be significantly better than MakerDAO. That’s just one of the many DeFi things that are happening right now, Hoskinson said. He added that he is directly involved in many discussions on decentralized funding to make sure they have the right resources and the right teams.

Uniswap outperformed Coinbase Pro in daily trading volume

Uniswap, the most widely used decentralized exchange (DEX) on Ethereum, outperformed Coinbase Pro in daily volume on August 30. The explosive growth of the Decentralized Finance (DeFi) market has pushed many avid investors into DEX through centralized crypto exchanges. According to Uniswap, the platform processed $ 426 million in a 24-hour volume. According to CoinMarketCap, Coinbase Pro recorded $ 349 million in the same period.

Total amount locked in DeFi jumped 85% to $ 8 billion in August

A lot has changed in DeFi over the last month as the decentralized financing ecosystem has grown significantly. Since the first week of August, the total value locked in DeFi has jumped over 85% in 27 days, from $ 4.2 billion to $ 7.88 billion on August 30.

Crypto News of the day 28.8. | More than 95% of crypto futures are in Asia • Coinbase releases USD Coin 2.0 to circumvent ETH network fees • and more articles

Thank you for your time a reading crypto news of the day 31.8.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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