Security Review Initiated on Flow Network

According to the Flow Foundation, the potential security risk has not yet been confirmed. Nevertheless, the foundation’s engineering teams are working in coordination with network partners to quickly identify the source of the issue and minimize possible impacts. The announcement stresses that security is always a top priority, and all measures taken to maintain network stability and protect user assets are carefully planned and executed.

The statement also notes that the Flow Foundation is collaborating not only with its internal teams but also with technical partners across the network. This coordinated approach allows for a comprehensive analysis of both on-chain and off-chain systems. Experts note that such collaboration is critical for containing potential security threats before they escalate. The foundation emphasized that unverified information will not be shared during the investigation and that only confirmed updates will be communicated to the public. Users are advised not to rely on rumors outside official channels.

Increased Security Awareness in the Crypto Ecosystem

Recent security incidents across different blockchain networks have once again highlighted the importance of risk management in the sector. The review initiated on the Flow network underscores the necessity of continuous monitoring and proactive measures in decentralized networks. Analysts point out that transparent and timely communication is key to maintaining user trust.

“Our engineering teams are investigating the potential security incident in collaboration with network partners. We will provide updates to the public as confirmed information becomes available.” – Flow Foundation

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The post Flow Coin Plummeted! Statement from the Foundation Followed Quickly appeared first on Coin Engineer.

Bitcoin Intraday Key Levels

The BTC/USD pair has lost 6.97% in the last 24 hours and is currently trading at $80,120. After losing the 92,053 support level, Bitcoin (BTC) continued its decline after a re-test. For a rebound, it needs to close above the 86,861 resistance level. The support level is at the FVG region.

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Ethereum (ETH): The ETH/USDT pair has lost 9.05% in the last 24 hours and is currently trading at $2,145. For ETH, resistance levels are first at $2,366, followed by $2,532. Support levels are at $2,162 and $2,081.

Jupiter (JUP): The JUP/USDT pair has lost 4.44% in the last 24 hours and is currently trading at $0.7074. The resistance level for JUP is first at $0.7451, then $0.8461. Support regions are at $0.6724, with further support at $0.6356 if the decline deepens.

Filecoin (FIL): The FIL/USDT pair has lost 4.36% in the last 24 hours and is currently trading at $3.152. The resistance levels for FIL are first at $3.329, followed by $3.611. Support regions are at $2.988, with further support at $2.614 if the decline deepens.

Flow (FLOW): The FLOW/USDT pair has lost 5.47% in the last 24 hours and is currently trading at $0.459. The resistance levels for FLOW are first at $0.498, then $0.541. Support regions are at $0.464, with further support at $0.392 if the decline deepens.

Trending Coins

In the last 24 hours, the most trending coins in the crypto market are Bitcoin (BTC), Solana (SOL), and Sonic (S). In the top gainers list, Car (CAR), Nervos Network (CKB), and Morpho (MORPHO) are seen. The biggest losers in the market are KAITO (KAITO), Ket (KET), and SPX6900 (SPX).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map, the significant liquidation on the upside is at the 81,584 level with $47.78 million. On the downside, there is a notable liquidation at the 77,681 level with $24.17 million.

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The post The Latest on Bitcoin and Cryptocurrencies: 28 February appeared first on Coin Engineer.

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Coinbase was sued by the SEC in June for allegedly operating as an unregistered broker, dealer, and exchange. Coinbase denied the allegations, arguing for the dismissal of the case and accusing the regulator of adopting a “regulation by enforcement” approach.

The exchange attorney William Savitt explored how securities are defined and pointed out the difference between “investing in Beanie Baby Inc. and buying Beanie Babies.”

In its June complaint, the SEC said that tokens such as SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO are securities.

Savitt made an explanation about Coinbase

Savitt noted that Coinbase does not argue that tokens listed on its website can never be considered securities.

“We do not accept the view that token transactions can never be investment contracts,” he said, adding that the SEC did not present any allegations in its case that meet the definition of an investment contract.

He also said that Coinbase agrees with the SEC that a formal contract signed by the buyer is not necessary to create an investment contract. However, he still said that token buyers reading technical reviews and other information about token projects does not mean they are buying investment contracts.

Savitt also rejected the SEC’s thesis that token sales on Coinbase should be considered investment contracts because token projects may have made certain promises to buyers and buyers may have bought tokens in the hope of a price increase.

“There needs to be a statement intended to convey an enforceable promise,” Savitt said. “That is the irreducible minimum of what could be considered an investment contract.”

The Coinbase attorney said that what really distinguishes blockchain tokens from securities is that a person who buys a stock, whether directly from an issuer or on a secondary market, receives all the rights that ownership of those securities confers, but that is not the case for tokens.

The post Coinbase Files Suit to Determine Whether Tokens Listed on Its Exchange Are Securities appeared first on Coin Engineer.

Most Popular Web3 Applications 

Polkadot (DOT)

Polkadot (DOT), also featured in the list of the most popular Web3 coins, stands out from other projects with its unique blockchain architecture. On the Polkadot network, you can create customizable blockchains and connect them to interact with each other. This architecture provides a robust foundation for interoperability, crucial in the Web3 ecosystem.

DOT, Polkadot’s native cryptocurrency, is among the leading cryptocurrencies on the best Web3 coins list.

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CyberConnect (CYBER)

CyberConnect (CYBER) aims to redefine social networks by highlighting new economic models for user control, data ownership, and community participation. In this sense, it stands out as a true Web3 application.With CyberConnect, users own their social graphs, content, revenue channels, and social data—not centralized companies. Moreover, users can seamlessly use them across various decentralized applications. CYBER token, the native cryptocurrency of CyberConnect, is considered one of the most popular Web3 tokens in 2023.

Solana (SOL)

Solana (SOL), one of the most popular blockchains and cryptocurrencies in recent years, continues to make an impact in 2023.

Many know Solana for its low fees and high transaction speeds. It is generally renowned as a high-performance platform, making it especially appealing for Web3 application developers. Additionally, as one of the most popular NFT blockchains, Solana holds a privileged position considering the importance of NFT technology for Web3. SOL coin maintains its position among the largest and most popular cryptocurrencies by market capitalization.

Filecoin (FIL)

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