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Bitcoin's price fell approximately 8% in a span of 10 minutes, leaving crypto investors scrambling to make sense of the drop. Elon Musk's SpaceX reportedly selling its Bitcoin (BTC) holdings, the bankruptcy of a Chinese property giant and fears of interest rate hikes have been among the theories raised as to Bitcoin's freak price dip. On Aug. 18 around 9:35 pm UTC, the price of Bitcoin suddenly plummeted over 8% in a span of 10 minutes, taking with it the wider cryptocurrency market, leaving many in the crypto community scratching their heads. the fuck was that? pic.twitter.com/Lh2zGXv29n — Molly White (@molly0xFFF) August 17, 2023 While there appears to be no consensus as to why the markets suddenly dropped, several crypto market analysts have shared their initial theories with Cointelegraph.  SpaceX offloads Bitcoin, interest rate fears eToro market analyst Josh Gilbert pinned the drop on a report that SpaceX may have offloaded some or all of its $373 million in Bitcoi...

The highest recently generated block reward was 584 ETH, created by a MEV bot front-running transactions during the DeFi chaos. The recent Curve Finance exploit has reportedly led to one of the largest ever Maximal Extractable Value (MEV) reward block s of 584.05 Ether (ETH).  On July 31, Ethereum core developer “eric.eth” reported that “today has produced some of the largest MEV reward blocks in Ethereum’s history,” adding it was caused by the exploit of Curve Finance stable pools on July 30. Data shows a larger MEV reward block of 692 ETH was recorded in March. “A bot notices an incoming hack in the mempool, reproduces the tx [transaction] and front runs it”, he explained before adding, “To do so they pay the block producer a lot of ETH to be front of the line.” Today has produced some of the largest MEV reward blocks in Ethereum’s history. Slot 6,992,273: 584 ETH Slot 6,993,342: 345 ETH Slot 6,992,050: 247 ETH Slot 6,993,346: 51 ETH — eric.eth (@econoar) July 30, 2023 ...

Alphapo, a payment processor, reportedly fell victim to hackers, resulting in a loss of more than $23 million in various coins and tokens. Crypto “detective” ZachXBT, who has been closely tracking the movement of stolen funds across different networks, brought to light the Alphapo attack on July 23. Earlier today Alphapo hot wallets were drained for $23M+ on ETH, TRON, BTC. HypeDrop (Alphapo customer) has since had withdrawals disabled. On Ethereum the stole n funds were swapped for ETH then bridged to Avalanche and Bitcoin. pic.twitter.com/pj7i3ZlBrX — ZachXBT (@zachxbt) July 23, 2023 According to ZachXBT’s report, the hackers exploited vulnerabilities in Alphapo’s security measures, gaining access to the platform’s hot wallets for Ethereum, Tron, and Bitcoin. Subsequently, they drained these wallets, causing substantial losses for the payment processor. As part of their attack, the hackers utilized the stole n tokens to purchase additional ...

The move coming after the recent selling of millions of ETH by the Ethereum Foundation and co-founder Vitalik Buterin has raised speculation of whether ETH price to witness a massive fall in the coming weeks. advertisement Ethereum Creator Jeffrey Wilcke Sell 22K ETH According to Etherscan data, Ethereum co-founder Jeffrey Wilcke transferred 22,000 ETH worth $41.13 million to Kraken on June 5 at 11:28 UTC. The last time Jeffrey Wilcke sold massive ETH was on January 5 and 6, 2021. He sold 15,000 ETH to Kraken. Ethereum co-founder Jeffrey Wilcke still holds 150038 ETH worth $280.32 million. In May, Ethereum creator Vitalik Buterin dumped 200 ETH, Ethereum Foundation followed suit and dumped 15,000 ETH to Kraken. The ETH selloffs by Jeffrey Wilcke, Vitalik Buterin, and Ethereum Foundation have raised FUD in the crypto community. Recommended Articles Crypto Presale Pro...