Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 18th Sep 🚨 ❌End of Binance BUSD ❗ Base Network by Coinbase 🚀 Mark Cuban Loses $870,000 in Scam 📊Lazarus Group Has Stolen $240M — Elliptic - a podcast by Blockchain DXB

18th Sep: Crypto & Coffee at 8 🎙️
❌End of Binance BUSD ❗ Base Network by Coinbase 🚀 Mark Cuban Loses $870,000 in Scam 📊Lazarus Group Has Stolen $240M — Elliptic

🚨On September 14th, Binance made an official announcement on its social media platform, X (formerly known as Twitter). The announcement revealed that Binance had initiated a process to burn several Binance-pegged tokens. Notably, among the tokens marked for burning, four were variants of BUSD tokens, each associated with different blockchain networks. Tweet here https://lnkd.in/dYetsbed

🎙️ As per the announcement, the burning process for these Binance-pegged tokens would occur on their respective blockchains. Subsequently, Binance would release an equivalent amount of tokens that had initially served as collateral on their native networks.

❗ Binance has also announced plans to stop offering support for the stablecoin completely by 2024. Paxos also revealed that it will cease all BUSD redemptions in February 2024,

🛑 Coinbase layer-2 network Base hit a new peak in terms of daily transactions, breaking its former record when it was launched in August, according to data from blockchain explorer BaseScan. Coinbase’s Base Network hits almost 2M transactions in a day, surpassed other layer-2 networks like Optimism and Arbitrum in terms of daily transactions but still lagged behind Polygon and BSC. On the 14th it hit 1.88 million transactions, surpassing its previous record of 1.41 million transactions. More info via Cointelegraph here https://lnkd.in/dXN6ujEE

⚡ Decrypt article states billionaire Mark Cuban The owner of the Dallas Mavericks lost roughly $870,000, although the figures could have been much worse. Looks like he downloaded a fake and fraudulent copy of the popular browser-based MetaMask crypto wallet.Info here https://lnkd.in/dN839BYp

🟠 Looks like his wallet was drained of a number of stablecoins, Lido staked ETH, SuperRare, and Ethereum Name Service (.ens domains) tokens.

🚨 Elliptic reports In the past 104 days, Lazarus has already been identified as responsible for stealing almost $240 million in crypto assets from Atomic Wallet ($100m) CoinsPaid ($37.3M), Alphapo ($60M), & Stake.com ($41M). Elliptic analysis confirms that some of the funds stolen from CoinEx Global were sent to an address which was used by the Lazarus group to launder funds stolen from Stake.com, Iinfo here https://lnkd.in/duAdXx8A

🎙️ Check out Blockchain DXB Crypto & Coffee at 8 podcasts where we share our commentary on this. Also see slide 1 & 2 for a global snapshot on #defi #stablecoins #dapps and more

Two UAE news (See slides)
⚡ IOTA plans to establish a regulated foundation in Abu Dhabi, UAE
⚡ Saudi Arabia leads the Middle East in digital experience AI investments

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