Today, we cover yet another DeFi hack, plus what's going on with Coinbase in Japan.
Today’s Top Crypto News Stories
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Hacker Loots $90M From Liquid Crypto Exchange 🦹🏽
Japanese cryptocurrency exchange Liquid has lost more than $90 million in Bitcoin, Ether and a variety of other alt-coins, it said on August 19. The funds were stolen in a hack from its warm wallet, which acts as a bridge between internet-connected hot wallets and “air-gapped” cold wallets. It comes on the heels of the larger but returned $612 million loss by Poly Network. See the details.
Darknet Mixer’s Plea May Signal Trouble For Privacy Coins 🔐
Helix cryptocurrency mixing service head Larry Dean Harmon has pleaded guilty to anti-money laundering charges that could see him jailed for 20 years. U.S. authorities say he directly conspired with darknet drug dealers and other thieves to hide profits. It could be a move to “dismantle the infrastructure such criminal marketplaces depend on.” Get the scoop.
Coinbase Launches Japanese-Regulated Crypto Markets 🇯🇵
Brian Armstrong’s regulatory-friendly exchange with 68 million customers plans to add millions more in Japan. Beyond the five initial cryptos, Coinbase Japan wants local versions of its advanced trading platform Coinbase Pro, as well as Coinbase for Institutions. It was first announced in June, a week after Binance was warned out of the country. See here.
SEC Chair Says Agency Can Regulate DeFi 🕵️
Securities and Exchange Commission chairman and former MIT crypto professor said that the peer-to-peer decentralized finance — or DeFi — exchanges could fall under the SEC’s regulatory authority. In an Aug. 19 Wall Street Journal interview, Gensler called DeFi “a bit of a misnomer” as some parts of it are “highly centralized.” See the full story here.