Bithumb's $132M Bitcoin Distribution Error
South Korean crypto exchange Bithumb accidentally distributed 2,000 $BTC, valued at $132 million, to its users. The error stemmed from an intent to send 2,000 KRW (approximately $1.3) instead of the Bitcoin.
Binance $ETH/$USDT Sees $1.3B Liquidation Amid Volatility
The Binance $ETH/$USDT trading pair experienced rapid price fluctuations, leading to a $1.3 billion liquidation. Ethereum's price reportedly saw rapid swings of approximately $100 at least 40 times within mere seconds, reminiscent of flash crashes in highly leveraged markets.
The volatility coincided with a sell-off on Binance by Trend Research, selling 651,757 $ETH. The $1.34 billion transaction, with assets sold at an average price of $2,055 per $ETH, resulted in an approximate loss of $747 million for Trend Research.
Buterin Signals Major Shift in Ethereum Scaling Roadmap
Ethereum co-founder Vitalik Buterin signaled a major shift in the network's future development roadmap. He indicated a departure from the 'rollup-centric' scaling strategy for $ETH. His statements outlined a future where Ethereum no longer requires 'branded shards' for scalability, redefining the role and focus of Layer 2 solutions.