Derivatives Exchange Deribit Hacked For $28M – November 2

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$20,388

Bitcoin price has continued to travel sideways for another day, however some volatility may lie ahead as Federal Reserve chair Jerome Powell speaks this evening.

Top-20 altcoins are mostly down over the last 24 hours, as Ethereum and BNB each fall 1%, Dogecoin falls 6% and Litecoin in the only positive performer, gaining 11%.

Top Stories for November 2, 2022 🔥

👉 Derivatives Exchange Deribit Hacked For $28M

Crypto derivatives exchange Deribit has been hacked for $28 million, coming from the exchange’s hot wallet.

Bitcoin (BTC), Ether (ETH) and USD Coin (USDC) were taken in the attack, with the USDC being quickly converted to ETH to avoid the stablecoins being frozen by the company Circle.

Deribit has announced that its reserves cover the losses, with the rest of user funds safely held in cold storage.

👉 BitGo Announces Wrapped Dogecoin (wDOGE) On Ethereum Blockchain

BitGo has announced that it will be launching wrapped Dogecoin (wDOGE) on the Ethereum blockchain, via a partnership with wDogeDAO.

The wrapped token will allow users to use Dogecoin within the decentralized finance (DeFi) ecosystem on Ethereum, in all kinds of decentralized apps and exchanges.

Each wDOGE will be backed 1:1 by DOGE held in reserve.

👉 Developers Fix Lightning Network Bug That Led To Downtime

Lightning Network developers have fixed a bug that caused downtime for some nodes, following a complex transaction on the Bitcoin Layer-2 network.

The network failed to handle an abnormal multi-signature transaction, which was submitted intentionally by a user claiming to be doing it for the “ultimate good”.