Bitcoin News Official TheBitTimes.com

Balancer, a leading decentralized finance platform, acted swiftly after discovering a critical vulnerability affecting several V2 pools. The Balancer team unveiled the issue on Aug. 22 at 3:52 PM UST. It warned the community of a threat to their funds . Although a significant part of the Total Value Locked (TVL) was secure d, an estimated $5.6 million remains at risk. Balancer has received a critical vulnerability report affecting a number of V2 Pools. Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk. Users are advised to withdraw affected LPs immediately.https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L — Balancer (@Balancer) August 22, 2023 As a precautionary measure, Balancer paused several pools, including Mainnet, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zkEVM. The pauses are in effect until further notice, and users holding liquidity in the affected Liquidity Pools (LPs) are urged to act s...

South Korean prosecutors have contacted Binance to request a halt on withdrawals linked to Do Kwon. South Korean prosecutors have identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates. Out of the identified illegal assets, prosecutors have linked about 91.4 billion won ($69 million) of the specified amount directly to Kwon. Although Kwon amassed millions, none of the assets tied to him are recoverable or under the jurisdiction of the South Korean authorities. This is mainly because the now-arrested former CEO reportedly converted most of the illicit funds into Bitcoin (BTC) using overseas crypto exchanges instead of investing in physical assets, per a report published by local media outlet KBS. Early investigation into the Terra collapse by the United States Securities and Exchange Commission revealed that Kwon siphoned nearly $100 million worth of Bitcoin from Terra post-collapse. In another report based ...