Chain News Daily Official TheBitTimes.com

In a series of alarming incidents, two prominent decentralized finance (DeFi) platforms, Sonne Finance, and ALEX Lab, have been targeted by sophisticated hacks, resulting in a combined loss of $24.3 million in cryptocurrencies. Sonne Finance halted operations after a $20 million exploit, while ALEX Lab lost $4.3 million due to a suspected private key compromise. Both platforms are now in a race to recover their stolen assets and prevent future breaches. Sonne Finance: $20 million heist Lending protocol Sonne Finance was forced to pause operations after suffering a hack that drained $20 million worth of cryptocurrencies from the market.  Picks for you From tech to fashion: Who are the top 10 youngest female billionaires in the world 17 mins ago 2 no-brainer Robert Kiyosaki assets to buy right now 42 mins ago Crypto expert Michaël van de Poppe sells all his Bitcoin; Here’s why 2 hours ago We asked ChatGPT-4o to make a $1,000 crypto portfolio 3 hours ...

Former Celsius CEO is currently out on bail facing multiple charges of criminal fraud and market manipulation from various U.S regulatory agencies. Alex Mashinsky, the founder and former CEO of now bankrupt crypto lender Celsius, filed a new motion in court seeking the dismissal of the Federal Trade Commission (FTC) case against him “in its entirety.” The legal counsel for the former Celsius boss argued that the allegations against their client do not support the claim that he knowingly made a misstatement to “fraudulently obtain customer information from a financial institution.” According to the lawyers, the accusations do not meet the standards for a claim under the Gramm-Leach-Bliley Act (GLBA). This 1999 law requires knowingly making false claims to collect customer information fraudulently from a financial institution. Additionally, the lawyers claimed that because Mashinsky resigned from his position as CEO of Celsius on Sept. 27, 2023, the complaint cannot prove that he ...