According to blockchain analytics, the Ethereum Name Service (ENS) domain “vitalik.eth” has engaged in a transaction of 0,000 worth of ether, converting it into an equal amount of stablecoins on the Base blockchain. The address, purportedly belonging to Ethereum’s co-founder Vitalik Buterin, currently possesses 955.58 ether, estimated at .64 million. ‘Vitalik.eth’ Wallet Makes Strategic 0K […]
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Vitalik Buterin’s Endorsement Leads to ENS Token Surge
The ENS token’s recent price surge is attributed to Vitalik Buterin’s public support, who stated the need for ENS to be available on all layer two networks.
Vitalik Buterin’s Social Media Post Ignites ENS Token Rally
The Ethereum Name Service (ENS) token experienced an unexpected surge of over 50% on January 3, following a strong endorsement from Ethereum co-founder Vitalik Buterin. Buterin’s support, expressed in a post on X (formerly Twitter), praised ENS as “super important,” emphasizing the need for this service to be accessible and affordable, particularly on layer two (L2) networks such as Optimism, Arbitrum, and Polygon. Buterin’s post led to exciting price action, with the ENS token first dipping to .28 before bouncing to an ten-month high of .01 per Bitcoin.com Markets data.
All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable and readable directly on L2s.
ENS is super-important, it needs to be affordable!https://t.co/Ice1lTttFE
— vitalik.eth (@VitalikButerin) January 3, 2024
Decentralized naming services such as ENS have the potential to become a critical component of the Ethereum blockchain. Of course, they simplify crypto transactions by allowing users to replace complex alphanumeric wallet addresses with human-readable names. They also enable the creation of subdomains, which adds a layer of flexibility and organization to managing digital identities. Subdomains function similarly to subdomains in traditional DNS (Domain Name System) on the internet. For example, if you own the domain ‘example.eth’, you can create subdomains like ‘wallet1.example.eth’ and ‘wallet2.example.eth’.
Buterin’s statements brought into focus the integration of Layer-2 platforms with ENS. L2 solutions like Optimism, Arbitrum, and Polygon are essential for Ethereum’s scalability, offering efficient transaction processing off the main Ethereum chain. Buterin underscored the importance of these platforms implementing trustless, merkle-proof-based CCIP (Cross-Chain Interoperability Protocol) resolvers. Such integration is pivotal for directly registering, updating, and reading decentralized naming service subdomains on L2s, thereby enhancing the overall functionality and user experience of the Ethereum network.
CCIP’s role in this integration is significant, since it is a protocol designed to enhance the interoperability and communication between different blockchain networks. CCIPs allow for the resolution of data across different blockchain layers. For ENS, which relies on resolving domain names to Ethereum addresses or other information, CCIPs enable this resolution process to occur not just on the Ethereum mainnet but also across various L2 networks.
Buterin’s backing of ENS and his advocacy for L2 integration along with calls of affordability reflect a broader vision for the Ethereum ecosystem — one that prioritizes user-friendliness, scalability, and robustness.
Do you think ENS or another decentralized naming service is important? Share your thoughts and opinions about this subject in the comments section below.
Vitalik Buterin’s $1 Million Ethereum Transfer to Coinbase Sparks Speculation
Monitoring of high-profile crypto addresses by onchain analysts has recently revealed that Ethereum co-founder, Vitalik Buterin, transferred 500 ETH, valued at slightly over million, to Coinbase. This action is part of a pattern, following Buterin’s previous transfers to exchanges in September and his assertion in October that he hasn’t “sold ether for personal gain since 2018.”
Ethereum Co-Founder Buterin Moves 500 Ether to Coinbase
Whales and those prominent in the crypto world, like Vitalik Buterin, often find their transactions scrutinized by vigilant onchain detectives tracking significant movements across various blockchain networks. Recently, Buterin’s Ethereum wallet has been active, notably transferring .79 million in ether over a ten-day period in September.
In a discussion on the decentralized platform Warpcast, Buterin maintained that he has not “sold ether for personal gain since 2018.” He pointed out that these transfers might be for philanthropic reasons, rather than the sale of crypto assets. On December 19, 2023, social media buzzed about another 500 ETH transfer by Buterin to Coinbase, as confirmed by blockchain explorer data, fueling speculation about him selling ETH.
Bitcoin.com News consistently highlights in its reporting that large-scale onchain movements of bitcoin by whales or the movement of ‘sleeping bitcoins’ don’t automatically imply a sale. When a whale transfers funds to an unrecognizable address, it’s uncertain if a sale occurred. Conversely, if the funds move to an exchange, it suggests a higher possibility of a sale, but this is not definitive.
Buterin might be using a centralized exchange like Coinbase to accrue annual percentage yields on his ETH, with the option to withdraw at his convenience. Given Coinbase’s role in managing donations for non-profits and charities, Buterin’s transfer could signify a philanthropic donation, especially as the tax year concludes. Ultimately, when funds reach a centralized exchange, the intentions behind the transfer remain obscure, leaving room for speculation despite the prevailing belief that the assets were sold.
What do you think about Buterin sending 500 ether to Coinbase? Share your thoughts and opinions about this subject in the comments section below.
Binance CEO Urges Hardware 2FA Use for All Crypto Platforms After Vitalik Buterin’s X Account Hack
Binance CEO Changpeng Zhao (CZ) has urged everyone to use hardware 2FA for all crypto platforms after a social media account belonging to Ethereum co-founder Vitalik Buterin was hacked and used to post a crypto scam link. “In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly),” CZ shared.
Binance’s CEO on Vitalik Buterin’s X Account Hack, Crypto Community Reacts
Binance CEO Changpeng Zhao (CZ) has reminded everyone to use hardware 2FA on all crypto platforms after a social media account belonging to Ethereum co-founder Vitalik Buterin was hacked and used to post a scam crypto link that stole funds from people clicking on it.
“Reminder to use hardware 2FA (Yubikey) for all crypto platforms,” the Binance executive wrote on social media platform X on Sunday.
Reminder to use hardware 2FA (Yubikey) for all crypto platforms. https://t.co/bwzlQeGraL
— CZ Binance (@cz_binance) September 10, 2023
CZ detailed in another X post: “Vitalik’s Twitter account got hacked. Use common sense when reading content on social media, even from large KOLs. Twitter’s account security is not designed as financial platforms. It needs quite a bit more features: 2FA, login ID should be different from handle or email, etc.” The Binance boss further shared:
In the past, I have had my Twitter account locked a few times due to hackers trying to brute-force it (trying different passwords repeatedly). This was before the ‘Elon era.’
“Yubikey is an additional security feature that users can enable to protect their accounts. It is primarily in the form of a USB, that generates a one-time password (OTP) for secure account access and transaction approvals, it can significantly reduce the risk of account being hacked or compromised,” the X account for Binance Support explained.
Responding to inquiries on X regarding the adequacy of relying on Google Authenticator, Binance clarified: “It’s advisable to use multiple layers of security if possible. So yes, a combo of Authenticator and Yubikey would be great!”
Many people on X suspected that Buterin was a victim of a SIM swap hack. Zengo Wallet CEO Ouriel Ohayon wrote: “Vitalik was likely SIM swapped vs using SMS 2FA on Twitter (would be terribly surprised if not). Meaning other accounts of his were compromised too (possibly his Coinbase).” On-chain analyst Yazan cautioned: “No one is immune to SIM swap hacks. Not even Vitalik Buterin. Stop using SMS Verification and start using a 2FA app instead. You’ll be doing your audience a favor.”
Some people found it difficult to believe that the Ethereum co-founder was using SMS 2FA. Adam Cochran posted: “Should grill Twitter on this cause no way Vitalik is using SMS 2FA and getting sim swapped.” X user Crypto King opined: “How did Vitalik not have 2FA + 100 other security measures in place!? How are people with 0,000 assets on their main device still clicking links?! You have millionaires and billionaires that are borderline handicapped in this space!!”
What are your thoughts on the breach of Vitalik Buterin’s X account, and do you share the same viewpoint as Binance CEO CZ? Let us know in the comments section below.
Vitalik Buterin’s X Account Hacked to Promote Crypto Scam
The X account of Ethereum founder Vitalik Buterin has apparently suffered a breach by scammers spreading phishing links. The attack, which manifested itself in the form of a post offering free digital collectibles, has allegedly resulted in the loss of over 0,000 for those who fell for the fraud.
Scammers Lure Victims With Phishing Post From Vitalik Buterin’s X Profile
The X (formerly Twitter) account of Vitalik Buterin, an influential voice in the crypto space, has been compromised by fraudsters seeking to drain victims’ wallets. The post pretended to “celebrate Proto-Danksharding coming to Ethereum” with a collection of “free” non-fungible tokens (NFTs).
On Saturday, Vitalik’s father warned on X about the malicious tweet that has since been deleted. “Disregard this post, apparently Vitalik has been hacked,” Dmitry Buterin urged users on the social media, adding that the founder of Ethereum “is working on restoring access.”
The post offered victims to follow a link, connect their wallets and claim the commemorative collectible. Among them was Ethereum developer Bok Khoo, X handle @Bokkypoobah, who tweeted he had “lost a few Punks” and called on followers: “Don’t interact!”
Blockchain enthusiast and crypto detective ZachXBT (@zachxbt), who is dedicating efforts to uncovering rug pulls and exposing malicious players within the crypto space, revealed in a tweet that the total drained by the perpetrators of the attack amounts to 1,000.
ZachXBT later updated followers about the stolen assets, among which Cryptopunk #3983 and Cryptopunk #1751 had the highest estimated value of 153.62 ETH (around 0,000 at the time of writing) and 58.18 ETH respectively.
Chinese crypto journalist Colin Wu, known on X as Wu Blockchain, was also among those who issued a warning about the suspected hacking of Buterin’s account. In his post, he recalled that the X account of Uniswap founder and member of the Ethereum Foundation, Hayden Adams, was hit in a similar fashion earlier this year. In follow-up tweet, Wu suggested that the hacking of Vitalik’s Twitter may be linked to a hacker or a group of hackers dubbed “Pink Drainer.”
Vitalik’s Twitter hacking may be linked to PinkDrainer. The scammer’s wallet address is: 0x4e…b3f3, and the total loss exceeds 1k worth of assets. The two largest funds were two CryptoPunks NFTs originally belonging to bokkypoobah.eth. https://t.co/RiGkyEOtL7
— Wu Blockchain (@WuBlockchain) September 10, 2023
Prominent members of the crypto community are not the only targeted by crypto scammers seeking to exploit social media profiles. In June, the Twitter account of Bitcoin critic and gold proponent Peter Schiff was found shilling a “groundbreaking cryptocurrency token” called $GOLD in a series of tweets posted by hackers that presented the coin as “a complete and utter gamechanger for gold-backed DeFi.”
How do you think was Vitalik Buterin’s X account compromised? Share your thoughts in the comments section below.
Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet
On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated 0,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold the funds.
Crypto Speculators Question Motives Behind Vitalik Buterin’s Airdropped Token Sell-Off
According to a record of token transfers associated with an address labeled “VB,” Vitalik Buterin, the co-founder of Ethereum, appears to have sold a significant amount of ERC20 tokens that were airdropped to his address. Blockchain explorer statistics show that the address associated with Buterin sold billions of cult dao (CULT) tokens, billions of MOP, billions of kiboshib (KIBSHI), trillions of dingo (DINGO), and trillions of shikoku (SHIK) tokens. An onchain visual from Arkham Intelligence also shows that other unknown, low-liquidity coins from chains like the Binance Smart Chain (BSC) were also sold.
Onchain observers noted that the address associated with Buterin was selling tokens with low liquidity and small market capitalizations during the course of the day. The blockchain security and data analytics company Peckshield also reported on the sold tokens originating from the wallet associated with Buterin. Peckshield noted that the price of shikoku (SHIK) dropped 95.8% against the U.S. dollar. Some token supporters complained that Buterin willingly caused the price of these coins to drop, while others argued that it was Buterin’s funds, and he could do whatever he wanted with them.
“Not sure what you guys expected, his wallet, his money, LOL,” one individual said.
Some speculated that Buterin may have sold the airdropped tokens for tax compliance purposes. “Seems like a strange move, he is more than aware this would tank prices and drain liquidity,” one Twitter user said. “My assumption is that his accountant warned him these tokens would count as income on his tax sheet. Selling to cover the expense.”
Others criticized Buterin’s decision, suggesting that the coins could have been sent to a burn address to destroy them instead. In May 2021, Buterin donated billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund charity after being gifted the tokens during the token’s launch.
Coincidentally, following Buterin’s sale of low-liquidity ERC20 tokens, the Balvi Filantropic Fund, co-founded by Ethereum’s creator, donated million in USD Coin (USDC) to the University of California San Diego. The donated funds will be used to research and study airborne pathogens. Kimberly Prather, a UC San Diego atmospheric chemist and professor, expressed gratitude to Buterin and the Balvi Fund for their donation in stablecoins.
What do you think about Vitalik Buterin’s sale of the airdropped tokens? Share your thoughts in the comments section below.
Huobi Executive on Vitalik Buterin’s Crypto Exchanges Can “Burn in Hell” Comment
A Huobi Executive has described Ethereum co-founder Vitalik Buterin’s comments on decentralized exchanges as ‘visceral.’ He also claimed that crypto exchanges have failed following recent hacks, including the Bancor protocol for million, in an interview with NewsBTC.
Huobi Exec: “a Visceral Statement”
General Counsel and CCO of Huobi UK, Josh Goodbody, said that although Huobi is working on a decentralized solution, it goes too far to say that there should be no more centralized exchanges. This follows comments by Vitalik Buterin who told an audience at a TechCrunch session that he hopes ‘centralized exchanges go burn in hell.’
Goodbody told NewsBTC: “That’s quite a visceral statement. There’s a case for both centralized and decentralized exchanges and they have their own pros and cons. To say that everything should be decentralized is quite a broad statement. We’re always on the edge of our seats to see what he says next and his soundbites are always quite good.”
He added that Huobi is aiming to become fully decentralized on a propriety protocol. It has started a competition to find a global leader to build it with the community. He said this is the first time a crypto exchange has opened up its ‘nuts and bolts’ to the public and that it will be ‘almost Huobi version three.’
Institutional Investors Unlikely to Use ‘Failed’ Exchanges
The UK CCO said that the number one priority for exchanges is security. After recent major hacks of both centralized exchanges, including Bithumb, and arguably ‘partially‘ decentralized exchange Bancor, he said this issue is a ‘very sensitive topic.’ He also pointed out that Huobi hasn’t had a security breach in five years of operation.
Goodbody told NewsBTC: “Have exchanges failed? Yes, they have. They haven’t put enough investment into creating a robust security infrastructure and that is unfortunately to the detriment of the community. Inevitably, exchanges will have to improve their systems and their infrastructure to meet the systems and security requirements for institutional traders.”
Goodbody said that the crypto industry cannot mature if investors do not have confidence in the infrastructure they are using. On the other hand, he said that recent news implying a Bitcoin ETF is on the way is a ‘natural progression in the cryptocurrency industry.’
He said: “Bringing in asset classes and financial vehicles into the crypto space will give investors the exposure they’re comfortable with. Not everyone wants to hold private keys. As long as it’s launched by a reputable market participant, we think it’s a positive development for the industry.”
He also commented on Binance setting up their SAFU fund after reports claimed that it had been hacked for million even though these were unfounded. Goodbody said that Huobi has been putting a percentage of their trading revenue aside into a fund since its inception.
The UK CCO said: “Huobi’s been doing that for five years. We have a Huobi default fund which is funded by a percentage of our trading revenue. We’ve done that since inception of our Huobi products because we believe in safeguarding the community and our customer base. Anyone following suit from that is probably onto something good.”
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The post Huobi Executive on Vitalik Buterin’s Crypto Exchanges Can “Burn in Hell” Comment appeared first on NewsBTC.
Binance CEO Rebuts Buterin’s Centralized Exchange Slur
Last week, Vitalik called out centralized exchanges in an interview with TechCrunch, with his statements catching many off-guard, including Binance’s CEO.
Binance CEO: We Are All Part Of The Same Ecosystem
Vitalik Buterin, a co-founder of the Ethereum project, recently called out centralized exchanges in an interview with TechCrunch. Vitalik, a prominent Russian-Canadian programmer, has been well-known for his work in the cryptocurrency space, becoming an advocate for decentralization.
As a result of his ties to decentralization, the Ethereum co-founder expressed his hate towards centralized exchanges, while not naming any platform in particular. He said:
“I definitely hope centralized exchanges go burn in hell as much as possible.”
This statement given by Vitalik quickly blew up on social media, and soon enough, everyone had their own opinion on what Vitalik had to say. Eventually, Changpeng Zhao, the well-known CEO of Binance, got wind of what Vitalik had to say about a centralized exchange like his.
On July 10th, he issued a lengthy Tweet giving his opinions on what the cryptocurrency personality had to say.
Got asked a few times, re: “Vitalik’s burn in hell”.
Let’s not wish others to "burn in hell". Let’s have a bigger heart, and appreciate the fact that we are part of an eco-system… pic.twitter.com/4QYGKus0Gk
— CZ (not giving crypto away) (@cz_binance) July 10, 2018
Firstly, CZ pointed out that the comment “burn in hell” wasn’t taken too nicely, asking for centralized exchange critics to “have a bigger heart.” The Binance boss wrote:
“I would not wish “burn in hell” on anyone or anything. That’s just not a nice thing to say, even if it was said by Vitalik.”
Zhao reasoned that all cryptocurrency community members are part of the same ecosystem, and it would be in our best interest to collaborate instead of propagating the infighting that has become a sort of calling card for the industry.
Secondly, the CEO noted that the cryptocurrency industry would be on levels of magnitudes different if centralized exchanges weren’t present. Exchanges like Coinbase and Binance have created high levels of liquidity for the industry, allowing for incoming retail investors to buy, sell and trade a variety of different cryptocurrencies. Additionally, centralized exchanges have become an integral part of the fiat on-ramp process, which became a leading factor in the most recent cryptocurrency run up.
The Industry Would Be Smaller Without Centralized Exchanges
As CZ puts it, “if it was not for fiat (and centralized) exchanges, the industry would be smaller and the industry would develop slower.”
This has been widely received as true, take a look at the top exchanges on CoinMarketCap, It easily becomes apparent that decentralized exchanges have not seen the levels of adoption which centralized exchanges have experience.
Vitalik recognized this in the aforementioned interview, noting that the only reason why centralized exchanges are still viable is due to the fact that they act as a gateway, bridging the gap between fiat and cryptocurrencies. The Ethereum proponent went on to say that decentralized exchanges will only become more and more prominent as time goes on.
However, CZ rebutted by saying that nothing is truly decentralized, and things that are “decentralized” are not safer (or better) by default. The CEO pointed to the example of Ethereum Classic and Ethereum DAO situation, where the decentralized autonomous organization fell victim to a security breach, causing a fork of the original Ethereum chain.
In addition, it was pointed out that efficiency and adoption rates are an important part of the centralized/decentralized debate as well, implying that if centralized exchanges are required for mass cryptocurrency adoption, then so be it.
Despite trying to address most of Vitalik’s points, CZ didn’t mention allegations of absurdly high listing fees that many exchanges require in the rebuttal. However, in an interview with Ran Neu Ner of CNBC Africa, Zhao gave viewers of the ‘Crypto Trader‘ show an insight into Binance’s listing process. He said:
“We don’t negotiate and we don’t ask for a price. When a project team submits an application, they will tell us what they want to pay. And you can say zero ($), which we may accept and we have listed coins that say zero. However, there’s a sweet spot for the money you pay. If it’s too high, then we actually get worried…. But we list coins for a fairly low fee”
It was not made clear where this ‘sweet spot’ lies, but many speculate it ranges in the -5 million range.
Binance Chain: Binance’s Upcoming Decentralized Exchange
Despite taking a seemingly harsh stance on the current state of decentralization, Binance is still planning to move forward with its own decentralized project, Binance Chain.
In the aforementioned ‘Crypto Trader’ interview, when asked about the Binance Chain project Zhao noted:
“I believe that decentralized exchanges are the future. I do not know when that future will come, so again, I think we are in an early stage for that. I don’t know whether it’s going to be a year, two years, three years, five years, I don’t know, but we have to be ready for it. So we’re now actively investing our efforts and time into it. We have a dedicated team working on this, and I hope to see a prototype within the next couple of months”
It is unlikely that the first prototype of Binance Chain will be able to support the trade throughput levels the exchange sees today. But it is only a matter of time before protocols develop to a stage where average users, like you or I, do not notice any difference between the two types of exchanges, offering seamless decentralized services to the masses.
As the cryptocurrency space develops and expands, there will begin to be a shrinking need for centralized exchanges. But as seen by moves taken by Binance, currently centralized platforms may begin to migrate over to decentralization in an attempt to keep business.
But it is unclear what the timeline for decentralized exchange development will look like, as in their current state, decentralized exchanges can be rather slow and clunky. But once decentralized platforms show high levels of efficiency and security, centralized exchanges will only be known as fiat on-ramps, and platforms utilized by high-frequency traders, looking for millions of trades per second.
Image from Shutterstock
The post Binance CEO Rebuts Buterin’s Centralized Exchange Slur appeared first on NewsBTC.
The Ethereum Killer Is Ethereum 2.0 Vitalik Buterins Roadmap
Speaking on November 25 at BeyondBlock Taipei 2017, Ethereum inventor andco-founder Vitalik Buterin outlined his vision for Ethereum 2.0. He described major changes in Ethereums architecture that are likely to be implemented over the next few years to improve Ethereum in terms of privacy, safety consensus safety and smart contract safety and, of course, scalability, which was the main focus of Buterins talk.Buterin doesnt seem worried about competitors. The Ethereum killer is Ethereum, the Et
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