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DeFi platform KiloEx to compensate users impacted by $7.5M hack

Decentralized exchange (DEX) KiloEx said it will compensate traders and stakers hurt by a $7.5 million exploit that temporarily shut down the platform earlier in April.

In an April 24 announcement, KiloEx said traders who had positions open while the platform was suspended would get full compensation if their losses increased or profits decreased. The platform said it would pay the difference.

KiloEx urged traders to close their positions immediately once the platform resumes operations, as delaying could affect their profit and losses, which may then impact the compensation amount.

“Please close your position as soon as possible after the platform resumes. Compensation will be calculated based on the platform’s resume time,” KiloEx stated.

Source: KiloExStakers’ principal and earnings remain unaffected

For the platform’s Hybrid Vault stakers, KiloEx said that the stolen funds were fully reinjected into the vault. As a result, staker

Revolut doubles profits to $1.3B on user growth, crypto trading boom

Fintech giant Revolut reported a record-breaking year, doubling its pre-tax profit to 1 billion British pounds ($1.3 billion) in 2024, driven by rapid customer growth and a resurgence in cryptocurrency trading.

According to its annual report published on Thursday, April 24, Revolut’s profit soared from 438 million pounds in 2023, while revenue jumped to 3.1 billion pounds from 1.8 billion pounds.

A key contributor to Revolut’s strong performance was its wealth division, which includes stock and digital asset trading. The segment generated 506 million pounds in revenue — nearly four times higher than in 2023 — as crypto trading activity rebounded.

Revolut’s increasing profit. Source: Revolut

Revolut added nearly 15 million new users in 2024, pushing its total customer base past 50 million. This expansion boosted revenue from card payment fees and interest on deposits, the fintech’s two largest income streams.

Founder and CEO Nik

What is quantitative easing, and how does it work?

Quantitative easing (QE), explained

Quantitative easing (QE) is a non-traditional monetary policy tool used by central banks, particularly when interest rates are already low and cannot be reduced further.

It was popularized during the 2008 global financial crisis when traditional monetary tools, like lowering interest rates, were insufficient to stimulate economic growth.

The main goal of QE is to boost the economy by increasing the money supply. This is achieved by encouraging banks to lend more and making borrowing cheaper for consumers and businesses. When central banks implement QE, they purchase government bonds or other securities from the market, injecting cash into the financial system.

Even though people sometimes say QE is like “printing money,” it’s not the same as making new physical cash. Instead, it increases the amount of digital money — meaning the balances held in bank accounts — in the economy. This

Read More at https://cointelegraph.com/explained/what-is-quantitative-easing-and-how-does-it-work?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Prosecutors seek over 6 years prison for Mango Markets exploiter

US federal prosecutors have asked a district judge to sentence Avraham “Avi” Eisenberg, the crypto user convicted of the $110 million exploit of the decentralized exchange Mango Markets in 2022, to at least six and a half years behind bars.

Ahead of Eisenberg’s May 1 sentencing hearing, US prosecutors are petitioning US District Judge Arun Subramanian for Eisenberg to face between 78 and 97 months in prison, according to an April 22 filing in a New York district court.

Prosecutors argue it’s an appropriate sentence for Eisenberg’s April 2024 conviction for committing wire fraud, commodities fraud and commodities manipulation in connection with the Mango Markets exploit and separate charges that he possessed child pornography.

“This sentence is necessary to, among other things, appropriately reflect the gravity of the defendant’s crimes, promote respect for the law, deter the

US prosecutors file over 200 victim statements in Celsius ex-CEO’s case

US federal prosecutors have filed statements from hundreds of victims in their case against Alex Mashinsky, the founder and former CEO of the defunct crypto lender Celsius Network.

The recently sworn-in interim US Attorney for Manhattan, Jay Clayton, said in an April 23 letter to a Manhattan federal court that he was sharing “more than 200 victim impact statements” collected by his office.

The statements span 418 pages of Celsius users, some named and some only using their initials, detailing the impact that the collapse of the firm had on their lives and how much money they had lost as a result.

Some of the statements detailed victims who said they entrusted their life savings to Celsius, believing Mashinsky’s assurances that the platform was safe.

Others wrote they were dismayed at the amount returned to them as a result of the company’s bankruptcy proceedings, which many said was

ZKsync recovers $5M of stolen tokens after hacker accepts bounty offer

The ZKsync Association has confirmed the recovery of $5 million worth of stolen tokens from an April 15 ZKsync security incident involving its airdrop distribution contract.

The hacker agreed to accept a 10% bounty and return 90% of the remaining stolen tokens, transferring the ZKsync Security Council almost $5.7 million across three transfers on April 23.

“We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline,” ZKsync Association posted to X on April 23, which was later reposted by ZKsync’s X account.

Matter Labs, the company behind the ZKsync protocol, also reposted the news shared on X.

The ZKsync X account previously confirmed that no user funds were compromised.

Source: ZKsync Association

The hacker sent two transfers on

Russia’s central bank, finance ministry to launch crypto exchange

Russia’s finance ministry and central bank are reportedly planning to launch a crypto exchange for qualified investors under an experimental legal regime.

The platform will be aimed at “super-qualified investors,” Finance Minister Anton Siluanov said during a ministry meeting, according to April 23 reports from Russian media group RBC and Russian news agency Interfax.

“Together with the central bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows,” he said in a statement translated from Russian.

“Naturally, this will not happen domestically, but as part of the operations permitted under the experimental legal regime.”

Anton Siluanov (left) said the Kremlin-backed crypto exchange is only for Russian investors who meet certain income and wealth thresholds. Source: Mehmet Simsek

The Russian central bank announced a proposal on

Crypto exchange KuCoin enters crowded Thailand market

Cryptocurrency exchange KuCoin is set to branch further into Southeast Asia, targeting the growing crypto market in Thailand.

KuCoin is planning to launch a crypto exchange platform offering digital assets and related products in the country, according to an April 23 announcement.

ERX Company Ltd, Thailand’s first Securities and Exchange Commission-supervised digital token exchange, has rebranded as KuCoin Thailand effective April 22, it stated.

The crypto exchange will operate under ERX, which recently received a crypto exchange license from the Thai financial regulator.

“We’re strengthening our ability to offer localized solutions tailored to the Thai market,” said ERX chief executive Att Tongyai Asavanund.

Existing ERX users have been migrated to the new KuCoin Thailand platform, and the KuCoin TH app is available on both Android and iOS.

KuCoin joins an increasingly crowded Thai market

KuCoin is entering a crowded market, as there are eight other companies licensed by the Thai SEC to

Crypto users cool with AI dabbling with their portfolios: Survey

A majority of crypto users are willing to allow artificial intelligence agents to manage part of their investment portfolios, according to the results of a recent CoinGecko survey.

Among the 2,632 crypto participants surveyed, 87% said they would let AI agents manage at least a tenth of their crypto portfolio, CoinGecko’s April 23 report shows.

Around half the respondents said they were willing to let an AI agent manage half their portfolio or less.

“This suggests that despite having doubts as to how safe or secure AI agents are, crypto users are still mainly curious about the technology and want to try using them for trading or investing,” CoinGecko research analyst Yuqian Lim said.

At the same time, around 36% of survey participants said they would allow AI agents to manage the majority of their holdings. A smaller group, roughly 14.5%, were willing to

‘I’m sick’ — Scammers use AI, fake ID of crypto influencer to steal $4M

The host of The Wolf Of All Streets podcast, Scott Melker, says he’s received word that his face and name are being impersonated by scammers, with at least one victim duped out of $4 million.

On April 23, the crypto investor said, “I’m sick,” reporting that he’d been contacted by a private investigator revealing that a client of his was scammed for $4 million by a Nigerian group using his name and face as bait.

“They’ve apparently scammed a number of people,” Melker said, adding, “They sent him a fake driver’s license to prove it was me,” and used his X avatar as the photo.

The scammers used AI to generate the fake ID and used a fake but convincing-looking email account.

“They do zoom calls with AI,” which are “apparently sophisticated,” said Melker, who added that the scammers have also spoofed accounts of