Blockchain
CoinEx denies knowledge of $3.84 billion flows to sanctioned Iranian entities
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Blockchain analytics firm TRM Labs reported that CoinEx facilitated more than $3.84 billion in crypto transactions with over 60 sanctioned Iranian platforms over seven years. CoinEx rejected the claims and stated it has begun exiting Iran-related business.
Supporters of the Digital Asset Market CLARITY Act are intensifying efforts to secure a Senate floor vote before lawmakers depart for their August recess. The legislation would divide oversight of digital assets between the SEC and CFTC.
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Coinbase-backed Ethereum layer-2 network Base resumed block production on Thursday after a roughly two-hour outage. The disruption halted transaction processing on one of Ethereum's largest layer-2 networks.
Jaredfromsubway.eth, a prominent Ethereum MEV bot, lost more than $7.5 million after approving attacker-controlled contracts that enabled an allowance drain. The incident occurred through a series of fake trading routes set up over several weeks. Security firm Blockaid identified the exploit as targeting the bot's automated approval logic rather than private keys or protocol flaws.
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Activity on the Bitcoin network has surged even as the cryptocurrency's price has fallen nearly 50 percent below its peak, according to CryptoQuant. The increase in network use does not appear to be tied to movements in Bitcoin's value.
LG Electronics has created a blockchain-based advertising platform using technology from Arbitrum. The South Korean company plans to explore a market launch later this year.
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Administration officials hosted law enforcement representatives at the White House on June 10 to address concerns about Section 604 of the CLARITY Act. The provision would shield many software developers from money-transmitter rules while keeping exchanges and hosted wallets under compliance requirements. Discussions centered on whether broad protections could hinder prosecutions of crypto-related crimes.
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