Forbes - 💥 Bitcoin under fire

CryptoCodex


	Good Thursday morning. This is Billy Bambrough, getting you up to speed with the bitcoin and crypto latest.


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24-hour crypto market snapshot

$44,196

$3,134

$0.2241

$77.51

A bounce back ⛹️‍♂️


	Cryptocurrency prices have bounced back over the last 24 hours, following traditional markets higher as fears surrounding the potential collapse of Evergrade dissipated. The bitcoin price has surged from lows of just under $40,000 per bitcoin to over $44,000 in a little more than 24 hours. Other major coins have recorded even bigger come-backs, with some of the top ten jumping double-digit percentages. The price of ethereum's ether has blown back past the $3,000 level, up around 7% on this time yesterday, while its biggest rivals, Binance's BNB and cardano, have made similar gains. Smaller ethereum competitors have soared yet higher, with solana and polkadot climbing 13% and 12% respectively. The meme-based dogecoin has rocketed after the chief executive of U.S. cinema chain Adam Aron suggested he was keen on accepting doge in theaters. He had previously run a Twitter poll asking for people's opinions on the memecoin. Tesla CEO and chief dogecoin booster Elon Musk gave doge an additional push higher when he renewed a call to reduce dogecoin transaction fees in order to make it a feasible payment option. Just outside of the top ten, avalanche and terra have both added more than 20% during the last 24 hours with investors shrugging off a hack on avalanche-based decentralized finance (DeFi) platform Vee Finance this week. Confirmed: Robinhood to launch cryptocurrency wallets as bitcoin becomes a bigger part of business

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Bitcoin's base hacked 😨



	Bitcoin.org was soon back online following the hack bitcoin.org


	Hack attack: Bitcoin.org, an open-source project that aims to support bitcoin development and has existed since before the publication of the bitcoin white paper in October 2008, has been attacked by scammers in a hack that sought to trick people into sending bitcoin. Down and out: The hack was first spotted late Thursday evening before the site went offline. The site’s operator, who uses the pseudonym Cobra, said bitcoin.org may be offline while they were looking into the attack but it is now back up. Plan of attack: Using a now-familiar message in form of a homepage pop-up, the attackers invited visitors to send money to a bitcoin wallet, promising they will be doubled and sent back. The message, purporting to be from the Bitcoin Foundation, said they wanted to "[give] back to the community." Counting the cost: Using a motivator that only the first 10,000 users could take advantage of the offer, it included a QR code for the wallet as well as its address. Users of the site couldn't bypass the pop-up, rendering the site useless. The address linked to has received 0.4 bitcoin worth around $17,000 but it's unclear if the transactions came from victims of the hack. Background: Bitcoin.org, the spiritual home of bitcoin, recently became subject to legal attention following allegations of copyright infringement by the notorious Craig Wright, who has initiated multiple lawsuits over the years to 'prove' he is the pseudonymous bitcoin creator Satoshi Nakamoto. As part of his pursuit, Wright has made numerous claims, such as statements that he owned—but couldn't access—the private keys to Bitcoin addresses associated with Satoshi Nakamoto, and that he wrote the Bitcoin white paper—but also that Satoshi plagiarized him when writing the white paper. In other hacks this week... Pnetwork, a multi-chain bridging protocol, revealed this week it had 277 pbtc (its wrapped version of bitcoin) stolen from the Binance Smart Chain and DeFi platform Vee Finance said it had lost a total of 8,804.7 ether and 213.93 in bitcoin to hackers. Now read this: 'Side-eying Chloe' Clem to sell iconic meme as NFT

Biden backs crypto critic 🧐


	🇺🇸💲 U.S. president Joe Biden is planning on nominating a crypto-critical law professor to be the next Comptroller of the Currency (OCC), it was last night reported by Bloomberg. 🧑‍🏫 Cornell University professor Saule Omarova has criticized cryptocurrencies and advocated for the government to have a bigger role in banking. She was first mooted for the job last month. 📋 It's thought Omarova would pursue tougher oversight for Wall Street and stricter rules for the nascent bitcoin and crypto industry—which she has closely studied. ✍️ "Bitcoin’s amazing journey from an obscure techno-utopian experiment to Goldman Sachs’ market-making books and institutional investors’ portfolios is also fascinating in a deeper sense," Omarova wrote in a 2019 paper called New tech v. New Deal: Fintech as a systemic phenomenon, it was first reported by Coindesk. "It provides a vivid example of how fintech technology can be, and is used to synthesize tradable financial assets effectively out of thin air." Don't miss: Crypto regulators aren’t very sympathetic

	Billy Bambrough
	Forbes Contributor

I am a journalist with significant experience covering technology, finance, economics, and business around the world. I write about how bitcoin, crypto and blockchain can change the world.

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Forbes - 💥 Bitcoin under fire

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