Connect with us

Blockchain

Ethereum Merge and Testnets Now Supported by Cloudflare

Avatar Of Rajesh Khanna

Published

on

The Ethereum Merge: Decoding The Complete Timeline
google news
  • Cloudflare controls 80% of the internet infrastructure industry.
  • Cloudflare will stop using the Rinkeby signer in order to strengthen the network.

Cloudflare, a company that provides a content delivery network and DDOS security, has announced its support of the Ethereum Merge, as well as its compatibility with the Sepolia and Goerli testnets on Ethereum gateways. Since the Merge facilitates user and device access to the Ethereum network, the backing of internet infrastructure company Cloudflare is vital.

Cloudflare controls 80% of the internet infrastructure industry. Cloudflare is used by the vast majority of cryptocurrency platforms to connect to the internet. This includes FTX, KuCoin, Kraken, Coinbase, WazirX, eToro, CoinMarketCap, Coingecko, Nexo, and many more.

Strengthening Ethereum Network

On September 13th, Cloudflare revealed its support for the Ethereum Merge. Cloudflare is also adding support for the Sepolia and Goerli testnets on its Ethereum gateway. The Merge network has a set of testnets that users may use to try out new features and bug fixes on the main network and to create and explore decentralized applications (DApps).

Cloudflare’s support for testnets guarantees the stability, practicability, and safety of updates before they are released to the Ethereum Mainnet.

In addition, Cloudflare said that it will stop using the Rinkeby signer in order to strengthen the Ethereum network. The Ethereum Foundation has decided that the Rinkeby testnet will no longer receive updates or fixes after January 15, 2023.

The Ethereum Foundation has further encouraged users and developers to make the switch to the Goerli or Sepolia testnets. Kiln, Ropsten, and Rinkeby, the Ethereum Merge testnets, will shortly be deprecated and shut down.

According to the Ethereum Foundation’s Merge tracker, the Ethereum Merge is scheduled to take place on September 15 at around 04:00 UTC. Additionally, about 85% of nodes are running the most recent version of the Ethereum client software.

 Recommended For You:

Ethereum Has a Major Security Challenge on Post Merge

google news
Advertisement

Blockchain

CertiK Uncovers Suspicious $2.4M Payments Into Tornado Cash

Avatar Of Rajesh Khanna

Published

on

Certik Uncovers Suspicious $2.4M Payments Into Tornado Cash
google news
  • The money movement is linked to the October 2021 BXH Exchange breach.
  • GitHub reinstated the Tornado Cash code in “read-only” mode.

On Saturday, crypto security company CertiK said that it had uncovered a suspicious $2.4 million payment into the cryptocurrency mixer Tornado Cash. Information suggests the money movement is connected to the October 2021 BXH Exchange breach. It resulted in a loss of $139 million. Although the U.S. Treasury’s Office of Foreign Asset Control (OFAC) has placed sanctions on the crypto mixer. However, the exchange is still being used to move money.

The theft of over 4,000 ETH worth $139 million from the BXH Exchange at the end of October is likely connected to the transfer of funds.

Hackers Defying Sanctions

The address 0x158F5 is held by a third party and used the Binance Smart Chain and Avalanche staking contract’s privileged method to retrieve staked tokens and withdraw cash. The tokens were then transferred to Ethereum using the address.

CertiK reports that the staking contract holding the funds and locations was previously released by a Telegram group formed by persons affected by the BXH Exchange. Tokens with a bridging ERC-20 standard were converted to ETH at the address in question. To date, almost $2.4 million in value has been transferred into Tornado Cash, represented by 1865 ETH tokens.

Even after the Office of Foreign Asset Control at the U.S. Treasury banned suspicious transactions on Tornado Cash in August, the service is still accepting them. The crypto mixer platform has just received a transfer of 500 thousand DAI from EOA 0x0B789. The money transfer was associated with an exploit in DAO Maker.

After receiving confirmation from the Office of Foreign Asset Control of the United States Treasury, GitHub reinstated the Tornado Cash code in “read-only” mode.

Recommended For You:

Tornado Cash Back on GitHub Despite Sanction by U.S

google news
Continue Reading

Blockchain

Whale Alert: 270 Million XRP ($130M) Bought by Whales

Avatar Of Rajesh Khanna

Published

on

Ripple (Xrp) Price Jumps To New Four-Month High
google news
  • The largest ever buy was on the Bitso crypto market for 54.1 million XRP.
  • XRP prices have increased by around 50% during the last week.

The native XRP token of Ripple has seen the most growth over the previous seven days. While Bitcoin and Ethereum have both had big price declines recently, XRP has seen a sharp increase. The current price increase of XRP may be attributed to a number of factors. Whales hoarding Ripple tokens is one instance.

Tokens worth around $130.2 million in XRP, almost 270M XRP have been transmitted from several cryptocurrency exchanges to many unknown addresses in the past 24 hours, according to data from Whale Alert. The largest ever buy was on the Bitso crypto market for 54.1 million XRP. Approximately $27.5 million worth of XRP coins were purchased by Whale all at once.

High Volatility Expected After Judgement

However, whales have been buying up XRP on the Bitstamp platform to the tune of nearly $84.1 million. To their XRP holdings, whales have just added more than $41.4 million over many trades. Meanwhile, a massive transaction involving 132 million XRP (about $62.1 million) was also spotted by the whale tracker.

Since the SEC and Ripple submitted their summary judgement papers, there has been a dramatic increase in the whale stockpiling of XRP tokens. The current increase was caused by new court documents. It also noted a surge in the number of active addresses holding between 1 and 10 million XRP tokens in late 2022.

On the other hand, XRP prices have increased by around 50% during the last week. Since word of the case’s resolution circulated favorably across the market, this is the result. At this moment, the price of XRP is $0.5015 as per CMC.

Recommended For You:

XRP Investors Optimistic Following Summary Judgement Filing

google news
Continue Reading

Blockchain

California Governor Vetoes Crypto Regulation Bill

Avatar Of Rajesh Khanna

Published

on

Following Aftermath Of Recent Slump Bitpanda Announces Workforce Layoff
google news