Poloniex loses $100m in hack, BlackRock looks at ETH amid ETF hype, BTC targets $38K, SEC replies to Binance | Weekly Recap
This week, Poloniex suffered a breach. BlackRock seeks to launch an Ethereum (ETH) ETF as it awaits a decision on the Bitcoin (BTC) application. BTC targeted $38,000 amid a sustained rally. Meanwhile, regulators reply to Binance. Poloniex hacked for $100m Poloniex faced a security hiccup on Nov. 10, as its hot wallet experienced an unauthorized outflow, resulting in a loss exceeding $33 million, according to earlier reports. Justin Sun, the current majority shareholder of Poloniex, affirmed that the exchange remains financially stable and pledged full reimbursement for the assets. The initially estimated $33 million loss skyrocketed to over $120 million across several networks, including Ethereum and Bitcoin, as flagged by blockchain security firm PeckShield. Sun generously offered the hackers a 5% bounty if they returned a substantial portion of the funds within seven days, emphasizing a peaceful resolution. He provided three wallet addresses for potential reimbursement and as...