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Crypto

Underdog to roll out cryptocurrency deposit feature by year-end

U.S. sports prediction market Underdog plans to introduce a feature by year-end that lets users deposit stablecoins and cryptocurrencies directly into prediction market accounts. The company is working with infrastructure platform Zerohash to enable qualified customers to add funds through the Underdog app outside bank hours, including evenings and weekends. Underdog and Zerohash executives highlighted speed and expanded choices. Some services may be unavailable in New York, and crypto holdings are not covered by FDIC or SIPC protection.

Crypto

32 million dollars\' worth of stolen Ethereum moves, raising alarm over tracking Drift hack funds

Ethereum stolen in the Drift Protocol hack has started moving again, with about $32 million sent from hacker-controlled wallets to Tornado Cash in a day. Analysts identified transactions linked to an address labelled “Drift Exploiter 5” and estimated broader daily movement as high as 25,700 ETH. The activity follows about two months of inactivity and is described as a second large laundering attempt. Significant ETH is still held in hacker wallets.

Crypto

CoinEx to close after 9 years amid tougher rules and weak trading

Cryptocurrency exchange CoinEx will shut down after nine years, halting new sign-ups and planning to end most services on Sept. 29. Withdrawals will be supported until Dec. 22, and assets left on the platform after Sept. 29 can be converted to tether. Unclaimed tether will be transferred to an independent custodian that charges a 5 percent monthly fee. Founder and CEO Yang Haipo cited market weakness, tighter regulation and rising compliance costs.