Global Hive Buzz

Crypto Exchange Poloniex Faces $125 Million Hack

Poloniex, a cryptocurrency exchange, has fallen victim to a significant security breach resulting in hackers siphoning approximately $125 million from the platform's hot wallets.

The breach, initially identified by blockchain analytics firm PeckShield, involved the unauthorized withdrawal of an estimated $56 million in ETH, $48 million in TRON (TRX), and $18 million in Bitcoin.

In a twist of events, the attacker made a costly mistake of $2.5 million, inadvertently sending Golem tokens directly to the token's smart contract, thereby losing access to the funds.

This incident marks the second security breach for an exchange owned by Sun in recent months. In September, the Sun-owned crypto exchange HTX (formerly Huobi) experienced a loss of around $8 million in Ether due to a hacking incident. Surprisingly, the hacker later returned the stolen funds and received a 250 ETH "whitehat bonus" a few weeks later.

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Bitcoin Millionaire Wallets Triple in 2023

According to BitInfoCharts, the market witnessed a surge in Bitcoin (BTC) millionaires, growing from 23,795 in January 2023 to a current count of 81,925 as of the latest data. This represents a remarkable increase of 237%, fueled by positive dynamics in the crypto market and Bitcoin achieving new annual highs.

Simultaneously, the number of "wholecoiners" — wallets holding at least 1 BTC — has seen a modest rise since the beginning of the year. Presently, there are 1,018,015 such addresses, marking a 4% increase from the 978,197 recorded on January 1.

On November 9, Bitcoin reached a new high for 2023, surpassing the $37,000 mark. This upswing coincided with the news of the US Securities and Exchange Commission initiating negotiations with Grayscale regarding a spot Bitcoin ETF, triggering a spike in Bitcoin's price and resulting in $151 million worth of liquidations on futures contracts.

Grayscale's Solana Trust Commands an 869% Premium as Institutions Embrace SOL

The trust's shares are currently valued at $202, marking a staggering 653% surge since the beginning of September. In the same period, the SOL token tripled in value, soaring from $19 to $58. CoinGlass reports holding 115,900 tokens (equivalent to $6.78 million) on behalf of its clients.

In recent months, institutional interest in cryptocurrency has surged, with CME, the favored platform for institutions, surpassing Binance in terms of derivatives market share. This surge is attributed to growing optimism regarding the potential approval of a spot Bitcoin ETF, a development the SEC has consistently rejected in recent years. Grayscale stands out as the exclusive institutional entry point for Solana, given that CME only lists Bitcoin (BTC) and Ethereum (ETH).

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