Altcoin News by Thebittimes.Com

Source: Adobe/piter2121 Major crypto exchange Huobi Global has denied mass layoff claims and allegations that two of its top executives have resigned.  In a tweet on October 29, prominent Chinese journalist Colin Wu claimed that the company&rsquo ;s CEO Leon Li and chief financial officer Chris Lee have resigned. Citing people familiar with the matter, he said the crypto exchange is also preparing for "large-scale layoffs."  "Justin Sun's TRON team has taken over important departments of Huobi. Huobi has 1,600 employees, Justin Sun believes that there are too many people, and there may be large-scale lay offs," Wu said.  However, a spokesperson has reportedly  denied&nbsp ;the claims, noting that rumors regarding upcoming mass layoffs are “untrue” and that its senior management continues to perform their duties “as per normal.” “Huobi Global’s senior management team is performing their duties as per normal,...

Image Source: Pixabay An infamous scammer known as Monkey Drainer has drained approximately 700 ETH ($1 million) worth of crypto and non-fungible tokens (NFTs) over the past 24 hours. The prominent on-chain sleuth known as ZachXBT first broke the news, revealing that the scammer used phishing to drain user funds. He also managed to track and highlight the activity of the hacker.  “Over the past 24 hrs ~700 ETH ($1m) has been stolen by the phishing scammer known as Monkey Drainer. They recently surpassed 7300 transactions from their drainer wallet after being around for only a few months,” the pseudonymous researcher said.  The two biggest victims, 0x02a and 0x626, cumulatively lost $370,000 after signing transactions on phishing sites run by the hacker, according to ZachXBT. Victim 0x626 has lost the most. They held over $6.2 million worth of crypto in their wallet at the time but lost $220,000. "Luckily they rejected the other transactions," th...