Welcome to the first edition of Datawallet Daily for the week. As always, we’re spotlighting the key stories that have shaped the crypto market in the last 24 hours:
- Bitcoin Surpasses One Billion Transactions
- LayerZero Warns Sybil Farmers: Self-Report or Get Nothing
- Bitfinex CTO Confirms Reported Database Breach Was Fake
- Coinbase Sued for Allegedly Misleading Investors
Bitcoin Surpasses One Billion Transactions
The Bitcoin network has celebrated a significant milestone by processing its one-billionth transaction. This event occurred 15 years after the creation of Bitcoin, on block 842,241, as recorded on Clark Moody’s Bitcoin dashboard. An average of 178,475 transactions daily marks Bitcoin’s active participation over 5,603 days.
Noteworthy is the exclusion of transactions on the Lightning Network, which expedites payments and has processed about 6.6 million transactions in August 2023 alone. This milestone places Bitcoin behind Ethereum, which has already surpassed two billion transactions. Despite its achievements, Bitcoin’s price remains volatile, currently at $63,750, still down from its highest peak.
LayerZero Warns Sybil Farmers: Self-Report or Get Nothing
LayerZero Labs, the entity behind the cross-chain interoperability protocol, has announced a crackdown on Sybil farmers in preparation for an upcoming airdrop. Individuals practicing Sybil farming, creating multiple wallets to exploit airdrops, may be excluded from the token distribution, the team informed. However, those who voluntarily identify themselves by May 18 can still claim 15% of their intended allocation.
Recognizing nearly 6 million unique wallet interactions since its launch, LayerZero aims to ensure tokens go to genuine users. The initiative also includes a reward system, offering a 10% bounty for identifying additional Sybil accounts, and aligns with the project’s pledge to prioritize legitimate, long-term participants.
Bitfinex CTO Confirms Reported Database Breach Was Fake
Bitfinex CTO Paolo Ardoino confirmed that the recent claims of a database breach were unfounded and labeled as “fake”. Initially stirred by a tweet from Alice of Shinoji Research suggesting a large-scale data breach, these allegations were further amplified by a news account, contributing to widespread rumors.
However, after an extensive review over the weekend, Ardoino clarified that the user database was secure, and the so-called breach was merely a list of credentials from previous unrelated breaches. This clarification was supported by Alice of Shinoji Research who admitted to premature announcements regarding the incident.
Coinbase Sued for Allegedly Misleading Investors
Coinbase and its CEO, Brian Armstrong, are facing a class-action lawsuit filed in the Northern District of California. The lawsuit alleges that Coinbase deceived investors by selling digital assets, classified as securities, in violation of state laws. The tokens in question include Solana, Polygon, Near, Decentraland, Algorand, Uniswap, Tezos, and Stellar Lumens. Plaintiffs are seeking rescissions, damages, and injunctive relief through a jury trial.
This action is separate from Coinbase’s existing legal issues with the U.S. SEC regarding the classification of tokens as securities. Coinbase remains confident, disputing that its activities meet the criteria of securities transactions.
Other breaking news
- Sui Network Responds to Claims Regarding Token Supply
- Uniswap CEO Discusses Ethical Token Distribution
- Cardano Founder Suggests Bitcoin Cash Integration
- Ethereum Stablecoin Volume Hits Monthly Record in April
Satoshi-Era Bitcoin Address Awakens After 10 Years of Dormancy
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