👑 WazirX begins second phase of fiat withdrawals early, hackers begins moving funds

WazirX has begun the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3. The process was originally slated to begin on Sept. 9 and comes as the exchange faces the aftermath of a major security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty shared the update on social media and said the exchange is continuing to do all it can to restore access to customer funds.

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📊 Phishing scams dominate August’s $300M crypto losses – report

Blockchain security firm CertiK reported that crypto projects were exploited for a total of $310 million in August, the second-highest monthly total this year. The firm noted that $10.3 million of the stolen assets were recovered or returned, reducing the net loss to $300.6 million.

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📊 Crypto exchange trading volumes continued upward trend in August

Trading volumes on centralized cryptocurrency exchanges increased in August, extending the growth that began in July after hitting a multi-month low in June. The Block's Data Dashboard reveals that monthly spot market volumes across global cryptocurrency exchanges, including Binance and Coinbase, reached $1.2 trillion in August, up from $1.12 trillion in July—a 6.6% increase. Binance captured the largest market share in August, with a trading volume of $448.45 billion.

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💰 SEC warns FTX against paying creditors back in stablecoins, other crypto

Throughout the FTX bankruptcy, many different avenues have been explored or proposed to maximize creditor recovery, from relaunching the FTX exchange in order to make money back for creditors to distributing claims as tokens in a new venture that can be traded. Some decentralized marketplaces such as Found.xyz and Figure Markets even launched support for tokenized FTX claims trading this summer, in a move that one crypto CEO called "one of the most crypto things" he's ever seen.

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📊 Bitcoin ETFs log monthly loss, Ethereum ETFs are ignored after outflow streak

Despite an eight-day streak of positive net inflows, U.S. spot bitcoin exchange-traded funds logged a red candle for the month of August, logging a total net outflow of about $94 million. That sum is well within the bounds of a single good or bad day though, according to data from SoSoValue. Spot bitcoin ETFs netted over $250 million on Aug. 23, the best day for the funds this month, while the funds lost $237 million on their worst day, Aug. 2.

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🪙 Ethereum Foundation disburses $8.5M in grants for Q2, backing 98 projects

The Ethereum Foundation Ecosystem Support Program (EFESP) allocated a total of roughly $8.5 million to support 98 projects, according to the foundation’s inaugural grants allocation report published on Aug. 30. Although the report breaks down the projects by type, recipient, and contact, it does not provide a detailed breakdown of how much each project received.

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💰 Bitcoin miner wallet balances continue to shrink

Bitcoin miners’ wallet balances have been on a steady decline since 2011, with the trend continuing into 2024. The first chart illustrates a significant reduction from an all-time high of over 2.5 million BTC in late 2011 to under 2 million BTC by mid-2024. This decline has been influenced by miners liquidating assets to cover operational costs, especially during periods of market volatility and post-halving events.

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HISTORY: 🟠 In 2009 Hal Finney predicted $10M per #Bitcoin 🔥

He divided the world's wealth by 20 million (assuming satoshi's coins would never move).

https://t.me/Bitcoin_Magazine

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💎 Solana ($SOL) has reached a record for the highest number of daily active addresses in blockchain history.

https://t.me/Bitcoin_Magazine

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