Bitfinex Offers $400M for Return of Bitcoin from 2016 Hack – August 5

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$11,389

Bitcoin price is testing short-term resistance at $11,400 once again today, after ranging another 24 hours in the low $11,000s.

Top-20 altcoins have mostly traded flat over the last day, as Ethereum, Bitcoin Cash, and Bitcoin SV remain almost unchanged. XRP has fallen 2.5%, while Binance Coin is the largest gainer with a 5% rise.

Top Stories for August 5, 2020 🔥

👉 Bitfinex Offers $400M for Return of Bitcoin from 2016 Hack

Bitfinex has publicly offered up to $400 million as a reward for assistance leading to the return of the 120,000 Bitcoins stolen in the 2016 hack of their exchange.

The announcement, posted on the official Bitfinex website, states that 5% of the assets recovered will go to whoever connects the exchange with the hackers, while the hackers themselves will receive 25% of the returned assets.

The 120,000 Bitcoins have a current market value of $1.3 billion.

👉 Square’s Cash App Generates $875M in Q2 Bitcoin Revenue 

Square’s Cash App service has generated $875 million in revenue during the second quarter of this year, almost tripling that of the first quarter.

Gross profit from Bitcoin revenue in Q2 stands at $17 million, a figure which is steadily growing to capture a larger proportion of Square’s total gross profit.

👉 Opyn DeFi Contract Exploit Results in $370K Stolen USDC 

An exploit of Opyn’s ETH Put contract has resulted in the theft of $370,000 worth of USDC tokens, in a “double exercise” attack.

The attacker used a flash loan to buy the put tokens (oETH) on UniSwap, and upon a double-use of the options, managed to recover both their ETH deposits and USDC collateral.

Opyn has since removed liquidity from Uniswap, while it investigates the attack further.