So apparently, soBTC de-pegged and crashed to ~3000$ earlier today. The cause? FTX:


Just thought I'd use this to remind beginners that WBTC is not the real bitcoin and you shouldn't be using it, especially if your plan is to hold for the long term.

If you want to read more about the risks involved, you can check this article: https://medium.com/wanchain-foundation/how-safe-are-todays-wrapped-btc-bridges-b0f35a7b15e2

I didn't see any posts about this, so thought I'd share:


The offer ends in less than 10 hours and for the 5% off when using bitcoin, use the code: CKBTC.

I just came across a new open-source payment processor: Bitrequest.io[1]. It supports Bitcoin, LN, and a few other coins.

[1] https://github.com/bitrequest/bitrequest.github.io
[2] https://www.bitrequest.io/

Not that it's not possible but I doubt it. In addition to the CEO dismissing those rumors, they released a list of their hot/cold addresses and also promised that the Merkle-tree proof-of-reserves will be available soon: https://www.kucoin.com/blog/transparency-and-trust-a-detailed-list-of-kucoin-s-wallets

أنت على حق أخي، يبدو أن المحفظة بالفعل كانت تعطي 16-17 كلمة و ليس 12 كلمة

أما بالنسبة لاسترجاع المحفظة، فيبدو أن هذا هو الرابط[1][2] لفعل ذلك لكني لا أتذكر ما اذا كان يمكن القيام بذلك، من دون اسم المستخدم أو كلمة المرور

على أي حال، لا أعتقد أن هذا سوف يكون مفيدا لصاحب الموضوع، بمأنه يقول أنه يمتلك حسابات ب 12 كلمة.

[1] https://login.blockchain.com/wallet/forgot-password?guid=
[2] https://www.reddit.com/r/Bitcoin/comments/kkuhx9/bitcoin_wallet_from_2013_16_words_recovery/

ان كنت تقصد طريقة الحصول على الدومين، فهذه الشراكة مع محفظة تراست والت، لكن أعتقد أنه من الممكن استخدام محفظة أخرى.

أما بالنسبة لسؤالك الثاني، فنعم، العنوان يمكن استخدامه مع الكثير من العملات و ليس البيتكوين فقط.

So it looks like things just got worse[1][2][3]. I really doubt that this was a hack and not an inside job.

If this doesn't encourage people to switch to DEXes and non-custodial wallets, I don't know what would.

[1] https://www.reddit.com/r/CryptoCurrency/comments/ysunbs/ftx_started_transferring_millions_to_unknown/
[2] https://twitter.com/zachxbt/status/1591293813519253504
[3] https://twitter.com/0xfoobar/status/1591294791253258240

This is so messed up if true, here's a more detailed post about the matter:

https://www.reddit.com/r/CryptoCurrency/comments/ys6g9m/another_day_another_story_ftx_was_allegedly/

Are you certain it's a bitcoin private key? If so, maybe you encrypted it? It's definitely not a BIP38 encryption though.

Updates:

- Some of FTX's assets have been frozen by the Bahamas securities regulator[1].

Withdrawals:

The on-chain activity that we started seeing yesterday only involves Bahamian funds: https://twitter.com/FTX_Official/status/1590783569471115264

The dominos effect:

- BlockFi has stopped processing withdrawals[2].

- It also appears that many other trading firms/market makers have their funds stuck in the exchange:


[1] https://www.theguardian.com/technology/2022/nov/11/ftx-assets-frozen-bahamas-regulator-crypto-exchange-bankman-fried
[2] https://twitter.com/BlockFi/status/1590875997351866368

No, I understand that the low fees can be tempting but you shouldn't use the BSC network for BTC, that's not the real bitcoin. Use BTC instead.

You won't be able to withdraw your BTC via BSC network when using bitcoin core anyway since they have different address formats.

I doubt it, it must be either something with their payment processor or OP's card. Because AFAIK, fiat deposits (regardless of the exchange) can only be made by verified users so if they don't support the UK, he shouldn't have been able to verify his identity in the first place.

لم يتم اقتراح BIP39 حتى نهاية عام 2023 لذلك لا أعتقد أن الأمر كذلك: https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki

على حسب ما فهمته من مشاركته الثانية، فهو يشير الى Blockchain.info قبل تغييرها لمحافظها و استخدامها لل HD wallets

Updates: It seems like withdrawals are open once again[1] (but not for everyone based on what I'm reading on twitter).

This is good to see, but I'm not sure how they managed to do that when Tether just froze some of their funds (46$ M)[2]

[1] https://www.coindesk.com/business/2022/11/10/crypto-exchange-ftx-reopens-withdrawals-nansen/
[2] https://www.coindesk.com/business/2022/11/10/tether-freezes-46m-of-usdt-following-law-enforcement-request/

1. Yes, you can. See here[1].
2. This is a non-custodial wallet and not an exchange, so whenever you're transferring funds, you're using the bitcoin network. Whether you're sending them to one of your other addresses, or to somebody else, the fees will be based on the transaction size (inputs and outputs).
3.  Ledger uses Changelly as an exchange partner[2]. The fees for Changelly are 0.25% + network fee. I'm not sure if the ledger takes a cut as well.

[1] https://support.ledger.com/hc/en-us/articles/4404389482641-Add-your-accounts?docs=true
[2] https://www.ledger.com/swap-bitcoin

Found this new wallet from a Sponsored article by Coindesk[1][2]. Costs 199$ and support BTC and ETH (and its tokens).

[1] https://www.coindesk.com/sponsored-content/keeping-your-crypto-on-an-exchange-thats-where-its-most-exposed-to-hackers-theres-a-better-way/
[2] https://www.icointechnology.store/

In addition to what has been mentioned, if you want to check if an exchange is legit, just try to look it up on CMC. If there's nothing about it, you should stay away from it. This doesn't mean that you should use any exchange on coinmarketcap though. It's just that the criteria to be listed there are not that simple, not for someone who wants to scam people and earn a quick buck anyway.

Kraken has been doing it for quite some time now, you can see the technical details here: https://www.kraken.com/proof-of-reserves

From my understanding, it's not something that can be tampered with.

Now with multiple exchanges deciding to provide Proof-of-reserves as reassurance for their customers, it would be interesting to see what the other platforms are up to and whether we're going witness the collapse of some of them.

You can't be 100% safe.

If you're dealing with cash, and face-to-face then things could go bad easily if you're not careful.

As for the other online banking platforms, then there's that risk of chargebacks which an escrow can't help you with.

So, regardless of the platform, what you need to do is:

- Check the user's profile and that he has good (and most importantly recent) feedback reviews because these accounts can change hands.
- Avoid dealing with large sums with one individual. Trade with multiple ones instead, so even if you get scammed, you won't lose everything.