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Binance, the world largest cryptocurrency exchange, has announced that withdrawals and deposits of US dollars for the company global customers will be suspended beginning February 8. The company provided no specific reason for proceeding with the decision to halt the transfer of dollars. Binance banking partner Signature Bank raised some minimum transaction limits for dollar transfers earlier this year. Although the company saw a massive exit of millions of dollars worth of crypto after announcing the suspension, Binance said the organisation continues to maintain a "net-positive" status. A spokesperson for Binance told CNBC, "We are temporarily suspending USD bank transfers as of February 8." Affected customers were informed directly, according to the spokesperson. Binance revealed that USD bank transfer methods are used by approximately 0.01 percent of the platform monthly active users. Further, the crypto exchange stated, "We are working hard to resume service as soon as possible." Following the suspension announcement, Binance US, a company unit regulated by the Treasury Department Financial Crimes Enforcement Network, stated that the decision to suspend US dollar transfers had little impact on it. Binance US stated on Twitter, "This suspension has no bearing on Binance.US. Our customers will be unaffected unless you see an official message from Binance.US." Only non-US customers who conduct dollar transfers and similar activities in the banks are still subject to the present ruling. According to data from Arkham Intelligence cited by CNBC, Binance cryptocurrency wallets experienced a sharp rise in outflows of millions of dollars. These stablecoin-related crypto tokens included Tether and USDC. Data from DefiLlama, as reported by CNBC, shows that Binance lost a net amount of US dollars on the day of announcements of over $172 million. However, that only represents a small portion of the company $42.2 billion worth of cryptocurrency assets. The representative for the corporation stated that despite these setbacks, "We are still massively net-positive on net deposits." The firm also noted that after a bullish market swing, outflows always increase as prices start to stabilise. The trading platform was making reference to last week optimistic market activity. In the midst of all, the price of Bitcoin increased by more than 38% in January of this year since October 2021. Binance said in January of this year that US banking partner Signature Bank had raised the threshold for US dollar transactions to $100,000. The minimal limit at the time applied to all users of crypto exchanges.

On Friday, Bitcoin (BTC) and Ethereum (ETH), two of the most popular crypto coins, managed to stay stable in the $23,000 and $1,600 ranges, respectively. Other popular altcoins, such as Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP), also fell into the reds. With a 24-hour gain of more than 17 percent, the EthereumPoW (ETHW) token emerged as the top gainer. Synthetix (SNX), on the other hand, was the biggest loser, falling more than 7% in a 24-hour period. At the time of writing, the global crypto market cap was $1.08 trillion, representing a 1.29 percent loss in a 24-hour period. Bitcoin (BTC) price todayAccording to CoinMarketCap, the price of bitcoin was $23,533.16, a 1.43 percent loss in a 24-hour period. According to the Indian exchange WazirX, the price of Bitcoin was Rs 19.75 lakhs. Ethereum (ETH) price todayAt the time of writing, the price of Ethereum was $1,643.12, representing a 1.72 percent 24-hour drop. According to WazirX, the price of Ethereum in India is Rs 1.37 lakhs. Dogecoin (DOGE) price todayDOGE has lost 2.77 percent in the last 24 hours, according to CoinMarketCap data, and is currently trading at $0.09141. According to WazirX, the Dogecoin price in India is Rs 7.67. Litecoin (LTC) price todayLitecoin fell 1.92 percent in a 24-hour period. It was trading at $98.94 at the time of writing. In India, the price of LTC was Rs 8,230.01. Ripple (XRP) price todayThe price of XRP was $0.4111 after a 0.45 percent drop in the previous 24 hours. According to WazirX, the current price of Ripple is Rs 33.87. Solana (SOL) price todaySolana price was $24.33, representing a 3.80 percent loss in a 24-hour period. According to WazirX, the SOL price in India is Rs 2,058.39.

In 2022, the global crypto market reported a loss of more than $3.8 billion due to crypto hacking and related thefts by hackers. Chainalysis, a US-based blockchain analytics firm, published a report claiming that 2022 will be the biggest year ever for crypto hacking worldwide. It went on to say that North Korean-linked hackers drove much of last year crypto hacking activity, smashing their own yearly record for cryptocurrency theft. According to Reuters, North Korean-related accounts have been valued at a loss of millions of dollars. However, this did not stop the country hackers from stealing an estimated $1.7 billion in several hacks in 2022. According to the Chainalysis report, Korean hackers "stole an estimated $1.7 billion in cryptocurrency across multiple hacks attributed to them." North Korea-linked hackers, such as those in the cybercriminal syndicate Lazarus Group, have been the most prolific cryptocurrency hackers in recent years, according to the report. Many experts believe that the stolen cryptocurrencies and money are being used by the North Korean government to "fund its nuclear weapons programmes." Last year, US authorities seized approximately $30 million in stolen funds from North Korean hackers. Chainalysis stated that crypto hacking will become more difficult and less fruitful with each passing year. The last year saw a "ebb and flow" of cryptocurrency hacking activity. However, massive increases in crypto hacking theft were reported in March and October. Approximately $775.7 million was stolen in 32 separate attacks during the month of October, while $732.4 million was stolen in March. In terms of crypto thefts, November 2022 ranked third with $531.9 million. Since 2021, decentralised finance (DeFi) protocols have been the primary target of crypto hackers. This will only get worse in 2022. According to Chainalysis, DeFi protocols were the target of 82.1 percent of all cryptocurrency thefts committed by hackers. This is up from 73.3 percent in 2021. According to the report, cross-chain bridge protocols accounted for 64% of the $3.1 billion in stolen crypto from DeFi. Cross-chain bridge protocols allow users to transfer their cryptocurrency from one blockchain to another. North Korean hackers stole approximately $1.1 billion in DeFi protocol hacks. Many of the stolen assets are sent to other DeFi protocols that are not listed on centralised exchanges by these hackers. They do this in order to convert or swap their stolen assets for more liquid assets. According to Chainalysis, last year was one of the worst years for cryptocurrency in terms of illegal transactions totaling more than $20.1 billion.

Bitcoin (BTC), the world oldest and most popular cryptocurrency, fell below $23,000 early Tuesday morning. Ethereum (ETH), on the other hand, has remained stable around $1,500. Other popular altcoins, such as Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL), were mostly in the reds. With a 24-hour gain of more than 11%, the MINA token remained the top gainer. BitDAO (BIT) was the biggest loser, falling more than 17% in a 24-hour period. At the time of writing, the global crypto market cap was $1.04 trillion, a 3.25 percent drop in a 24-hour period. Bitcoin price todayAccording to CoinMarketCap, the price of bitcoin was $22,859.43 after a 3.69 percent drop in the previous 24 hours. BTC was trading at Rs 19.51 lakhs on the Indian exchange WazirX. Ethereum price todayAt the time of writing, the price of ETH was $1,568.30, representing a 4.34 percent 24-hour loss. According to WazirX, the current price of Ethereum in India is Rs 1.34 lakhs. Dogecoin price todayAccording to CoinMarketCap data, DOGE gained 1.91 percent in a 24-hour period and is currently trading at $0.09127. According to WazirX, the Dogecoin price in India is Rs 7.70. Litecoin price todayLitecoin gained 0.79 percent in a 24-hour period. It was trading at $95.79 at the time of writing. In India, the price of LTC was Rs 7,650.01. Ripple price todayThe price of XRP was $0.3923 after a 5.28 percent drop in the previous 24 hours. Ripple current price is Rs 33.48, according to WazirX. Solana price todaySolana was trading at $24.02, down 5.73 percent in 24 hours. According to WazirX, the SOL price in India was Rs 2,050.18.