$625M Stolen In Axie Infinity Sidechain Hack – March 29

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $47,478

Bitcoin price is sitting around the same prices as yesterday morning, continuing to range in the $47,000s over the last day of trading.

Top-20 altcoins have mostly cooled off, as Ethereum gains 1%, BNB falls 1% and Cardano drops 2% during the last 24 hours.

Top Stories for March 29, 2022 πŸ”₯

πŸ‘‰ $625M Stolen In Axie Infinity Sidechain Hack

Axie Infitinity’s “Ronin” sidechain has been exploited for $625 million in Ether (ETH) and USD Coin (USDC) – in a hack that somehow wasn’t noticed until six days later.

The attacker was able to hack private keys for five out of the nine validator nodes on the Ronin Network, subsequently using the keys to forge fake withdrawals from the sidechain onto the Ethereum main chain.

πŸ‘‰ Green Peace & Ripple Co-Founder Lobby To Change Bitcoin Code

Greenpeace, Ripple co-founder Chris Larsen and others are lobbying to change Bitcoin’s underlying code, via a “Change the Code, Not the Climate” campaign.

The campaign seeks to turn Bitcoin into a less energy-consuming network, possibly changing the consensus algorithm from Proof-of-Work to an alternative such as Proof-of-Stake.

CoinShares researcher Chris Bendiksen claims the chance of Bitcoin ever changing to a Proof-of-Stake model is “exactly 0%”.

πŸ‘‰ MacroStrategy To Buy More Bitcoin With $205M Loan

MacroStrategy – a subsidiary of MicroStrategy that now holds the majority of the company’s Bitcoin – is looking to buy even more of the cryptocurrency with a fresh $205 million loan.

Silvergate Bank has provided the loan, secured against $802 million in Bitcoin collateral held by an unnamed custodian. To date, MicroStrategy has purchase more than 125,000 BTC worth around $6 billion at market value.