What’s Happening In Crypto Today? Daily Crypto News Digest

Sead Fadilpašić
Last updated: | 5 min read
What’s Happening In Crypto Today? Daily Crypto News Digest

Get your daily, bite-sized digest of blockchain and crypto news today – investigating the stories flying under the radar of today’s news.

In crypto news today:

  • Why is crypto up today?
  • Security Engineer Sentenced to 3 Years in Prison for $12M Crypto Hacks
  • KuCoin Announces a $20 Million Airdrop
  • BtcTurk Organizes Half Marathon to Celebrate the Halving


Why is crypto up today?

The crypto market is having a green, spring day.

Over the past 24 hours, the total market capitalization is up 4% to $2.538 trillion.

According to CoinGecko, among the first 100 coins by market cap, only one is in the red. Celestia (TIA) dropped 4.6% to $10.18.

Among the green coins, CORE’s price increased the most. It appreciated 40% to $1.89.

Zebec Protocol (ZBC) and NEO follow it with 31% and 30%, trading at $0.02966 and $22.55, respectively.

Furthermore, all top 10 coins are green today.

The best performer in this category is Toncoin (TON). It’s up by nearly 13% to $7.1.

The second-placed Solana (SOL)’s price increased by 8.9% to $151.64.

Notably, Solana developers announced a mainnet beta update aimed at addressing the network’s recent congestion problems.

Ethereum (ETH) went up 7% to $3,237, while Bitcoin (BTC) rose by 3% to $66,050.

Meanwhile, digital asset investment products saw smaller outflows last week, totaling $126 million.

Trading volumes experienced an increase from $17 billion to $21 billion week-on-week, while the activity in exchange-traded products (ETPs) and exchange-traded funds (ETFs) dropped relative to the overall market.

Additionally, major news came from Hong Kong where the Securities and Futures Commission (SFC) approved the first spot Bitcoin and Ethereum ETFs.

China Asset Management Co., Harvest Global Investments, Bosera International, and HashKey Capital are among the companies that have confirmed the approvals.

Security Engineer Sentenced to 3 Years in Prison for $12M Crypto Hacks

A US District Judge sentenced Shakeeb Ahmed to three years in prison for hacking two decentralized cryptocurrency exchanges (DEXes) and stealing cryptocurrency worth over $12 million.

Ahmed, a 34-year-old US citizen, previously pled guilty to computer fraud.

In a press release, per the US Attorney for the Southern District of New York, in addition to the prison term, Ahmed received three years of supervised release.

Also, he must forfeit approximately $12.3 million and “a significant quantity” of crypto and pay restitution to the two exchanges in the amount of over $5 million.

“Shakeeb Ahmed was sentenced to prison in the first-ever conviction for the hack of a smart contract and ordered to forfeit all of the stolen crypto,” said US Attorney Damian Williams.

“No matter how novel or sophisticated the hack, […] today’s sentence shows, time in prison — and forfeiture of all the stolen crypto — is the inevitable consequence of such destructive hacks,” Williams added.

According to documents and statements, in July 2022, Ahmed attacked a DEX using fake pricing data to generate approximately $9 million worth of inflated fees, subsequently withdrawing those funds.

He agreed to return the stolen funds, except for $1.5 million, if the exchange agreed not to report the attack to law enforcement.

That same month, he attacked another DEX, using an exploit in smart contracts. He purchased crypto for lower prices than allowed and sold it for higher prices.

While the exchange offered $600,000 for the return of the funds, he demanded $1.4 million instead, in the end returning nothing.

The $3.6 million he stole was approximately all the funds possessed by the Nirvana DEX, which as a result, shut down shortly after the attack.

Ahmed laundered the stolen millions in an attempt to conceal their source and ownership.

At the time of both attacks, Ahmed was a senior security engineer for an international technology company. He was reportedly proficient in reverse engineering smart contracts and blockchain audits.

KuCoin Announces a $20 Million Airdrop

Crypto exchange KuCoin has completed the distribution of an $8.95 million airdrop to users affected by withdrawal congestion, announcing an additional $20 million to be distributed as ‘gratitude’.

According to the press release, the exchange introduced another round of airdrops.

This week, there will be ten rounds of airdrops worth $20 million credited to 3 million users.

This initiative is “designed to reward users who did not initiate withdrawals or deposits during the specified timeframe of March 26, 22:00, to March 28, 00:00 (UTC+8).”

Furthermore, there will be a draw to select 3 million users who will receive airdrops between 0.1 and 2,000 USDT.

The distribution process will be completed within five days.

The claim process for the $20 million gratitude airdrop involves token vouchers, which recipients can redeem for BTC on a 1:1 basis.

This gesture is part of KuCoin’s goal to “foster a united and protected cryptocurrency ecosystem,” the exchange said.

“[…] We aim to show our appreciation for the trust and support our users have continuously shown. Let’s protect and celebrate the spirit of cryptocurrency together,” said CEO Johnny Lyu.

BtcTurk Organizes Half Marathon to Celebrate the Halving

BtcTurk, Türkiye’s first Bitcoin trading platform and a financial technology company, will hold an event in Istanbul on April 21, marking the much-anticipated Bitcoin halving period.

Per the press release, the BtcTurk Bull Run will be organized for the first time this year and will be held every four years from now on.

It will see professionals and the public run along the Üsküdar coast in Istanbul.

International athletes will also participate in the event.

The runs will consist of three different stages: a 21-kilometer half marathon, a 10-kilometer public run, and a 100-meter bull costume special run.

All runs will be free of charge.

Furthermore, the sector’s major brands from around the world will attend The Bitcoin fair on the Üsküdar coast of Istanbul.

Also, Satoshi TV will be “in the area.”

Notably, in honor of Bitcoin’s 21 million supply and the halving, 2.1 BTC in prizes will be distributed to the winners.

The rewards include: finishing the Race Hand in Hand – HODL; Bitcoin Special Award for the 21st place finisher; Satoshi Special Award for the 210th place finisher;  and Hal Finney Special Award for the 2,100th place finisher.

The oldest participant will receive the ATH Special Award, and the youngest one will get the Genesis Block Award.

In the 100-meter bull costume race, men and women will receive the Bull Costume Special Run Award and the Best Costume Award.

The first 5,000 runners to finish the race will receive a medal.

All participating runners will be given a certificate with international validity.

Meanwhile, participants will run wearing chest numbers with integrated chips. The running time will be simultaneously monitored locally and in Germany using Race Result.

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