KEY TAKEAWAYS

  • The DOJ Launches an Investigation into Binance for Sanctions Violations
  • Binance Pay Plugin Now Available for WooCommerce Stores
  • Binance Lists FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone
  • 214,000 LVL Tokens Worth $1 Million Stolen: A Closer Look at the Level Finance Hack

ECOSYSTEM UPDATES

Crypto Fear And Greed Indicator

The DOJ Launches an Investigation into Binance for Sanctions Violations

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Binance is being investigated by the United States Department of Justice (DOJ) for possible violations of Russian sanctions. The national security and crime divisions of the DOJ are conducting investigations into the matter, focusing on Binance’s provision of services to Russian clients. 

Although no accusations have been made yet, Binance is already facing several investigations in the US related to Anti-Money Laundering (AML) violations. The exchange restricted its services to Russia after sanctions were imposed, but it continued to operate in the region. Binance claims that it was fully compliant with both US and international sanctions and its KYC protocols were in line with traditional banking.

For more details, visit here

Binance Pay Plugin Now Available for WooCommerce Stores

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Binance Pay is a cryptocurrency payment feature available on the Binance App. It is a secure, contactless, and borderless payment option that enables users and merchants to send and receive crypto payments from anywhere in the world without incurring any additional handling fees. WooCommerce is an open-source e-commerce platform built on WordPress, which is used by millions of businesses to manage orders online.

Integrating Binance Pay with the WooCommerce store offers several benefits, including the ability to reach a broader customer base, reduce transaction fees, enhance security, and offer a seamless shopping experience. By accepting cryptocurrencies as payment, businesses can cater to a growing market of crypto-savvy shoppers who prefer digital currencies over traditional payment methods. Binance Pay also provides a secure and reliable payment solution that ensures transactions are safe and secure for both merchants and customers.

For more details, visit here

Binance Lists FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone

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The Decentralized Finance (DeFi) space has seen a surge in the popularity of two meme coins, Pepe ($PEPE) and FLOKI ($FLOKI). Binance, the world’s leading cryptocurrency exchange, has announced the listing of both coins in its Innovation Zone, with trading pairs starting from May 5, 2023. The listing fee for FLOKI and PEPE is 0 BNB, and Binance plans to add them as new borrowable assets with margin pairs on Isolated Margin within 48 hours

For more details, visit here

214,000 LVL Tokens Worth $1 Million Stolen: A Closer Look at the Level Finance Hack

Decentralized Exchange (DEX) Level Finance was hacked, resulting in the theft of over $1 million worth of $LVL tokens. The attacker exploited a flaw in the ‘LevelReferralControllerV2’ smart contract, allowing repeated referral claims. Peckshield investigated the breach and revealed the exploit. The attacker exchanged the stolen tokens for Binance Coins. 

Level Finance is set to deploy a new referral contract in the next 12 hours. The attack was isolated, and the liquidity pools associated with decentralized autonomous organizations (DAOs) were not affected. Following the news of the attack, the price of $LVL fell almost 50%.

For more details, visit here

Additional Notable Events

DeFi

GameFi, NFT, Meme