Krasimir Buchvarov

Krasimir has been following the development of blockchain technology for several years and is optimistic about its potential. He covers breaking news in the sphere, focusing on innovation, regulation, and the cryptocurrency market.

Vee Finance Exploited for $35M Worth of BTC and ETH

  • The 8805 ETH and 214 BTC that were stolen were collected into a single address, and the attacker is yet to transfer or process them.
  • Vee Finance assured users that the incident occurred in the "pending contract", and that the assets in its Stable Coin sector remain unaffected.

Crypto.com Expands Crypto Insurance to $750M

  • The crypto exchange expanded its crypto insurance to $750 million after increasing its policy coverage led by Arch Underwriting at Lloyd's Syndicate.
  • Crypto.com was able to secure its insurance policy in a "much shorter time frame" thanks to its partnership with Ledger Vault.

Music App Geojam to Integrate With Constellation Network

  • By integrating with the Constellation Network, Geojam will be able to create its own JAM token, which will be merged with its existing fan rewards system.
  • Once the token has been created, it will be listed on the Constellation-powered Lattice Exchange's Launchpad.

Avalanche Raises $230M in Private AVAX Sale

  • Instead of equity, investors were able to purchase $230 million worth of AVAX tokens, giving them the right to participate in governance voting.
  • The funds will be used to boost DeFi activity on the platform, facilitate grants, token purchases, and investment into projects looking to build on Avalanche.

Crypto Platform Abra Raises $55M in Series C

  • The $55 million will be used to expand Abra's product and marketing team, as well as to further develop its high-net worth and institutional sales products.
  • Abra claimed that over the past year it has seen a significant uptake of its trading services, and a ten-fold increase in its revenue.

Huobi Ventures to Invest $10M in Early-Stage GameFi Projects

  • The new GameFi fund, which will support projects combining digital assets and gaming, will help Huobi profit from the "play-to-earn" hype.
  • Selected projects will not only receive monetary help from Huobi, but also support in marketing, PR, financial and legal advice, technical, and commercial assistance.

Coinseed to Shut Down and Pay $3M in Fines Following Court Order

  • Coinseed was accused of disabling withdrawals, and converting its client funds into Dogecoin (DOGE) without their knowledge.
  • The crypto trading app also ignored a temporary restraining order from June, and continued its operation, according to court documents.

Price of LTC Jumped by 37% After Fake Press Release

  • Claiming that retail giant Walmart was about to adopt Litecoin for payments, the fake press release caused the price of LTC to jump to $235 in less than 30 min.
  • A spokesperson for Wallmart told CNBC the press release was "not authentic" roughly an hour after it was posted, causing the price of the crypto to fall to normal levels.

Zabu Project Loses $3.2M in Latest DeFi Hack

  • According to security firm PeckShield, the bug used by the attacker is well known, and has been used "many times before".
  • Zabu has expressed its intentions to return the stolen tokens to investors, based on their balances before and after the exploit.

Argo Blockchain Secures Second BTC-Backed Loan From Galaxy Digital

  • The fresh $25 million BTC-backed loan will help Argo meet its cash flow requirements, and fund the expansion of its West Texas mining facility.
  • The new agreement will see Argo Blockchain roll up both its loans into one, for a combined sum of $45 million, with a maturity date of 29 October.