Saturday, December 3, 2022
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CryptocurrencyTechnologyBusinessLegalPoliticsFraudResearchGuidesOpinion
Ankr’s Exploit Enabled an Attack on Stablecoin Issuer Helio
  • A hacker targeted a vulnerability in DeFi protocol Ankr to mint trillions of aBNBc tokens, which he eventually swapped for 5 million USDC.
  • The event caused the price of aBNBc to plummet by 99%, which allowed another individual to steal $15.5 million from stablecoin issuer Helio as it did not have up-to-date pricing on aBNBc.
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Coinbase Disables iOS Wallet’s NFT Trading Due to Apple’s App Policies
  • Coinbase said that Apple had blocked the release of the latest iOS version of its mobile wallet app until NFT trading functionality was disabled.
  • The exchange also claimed that Apple wanted all gas fees required to send NFTs to be paid through its In-App Purchase system so that it could collect 30% of the fees.
Former FTX CEO SBF Claims He Unknowingly Commingled Funds
  • Sam Bankman-Fried held an interview with the New York Times, during which he pushed the narrative that FTX’s collapse was caused by bad risk management and the crypto market crash.
  • SBF also claimed the he had “unknowingly commingled funds” between Alameda and customer funds at FTX, which was the result of his poor oversight of the company.
FTX’s LedgerX to Provide $175M for Bankruptcy Proceedings
  • LedgerX, one of the few affiliated companies to remain solvent after the collapse of FTX, will provide $175 million towards FTX Group’s bankruptcy proceedings.
  • The money will come out of a $250 million fund the company had set aside to get regulatory approval to settle crypto derivatives without intermediaries.
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Binance Enters Japanese Market With SEBC Acquisition
  • The acquisition of FSA-regulated Sakura Exchange BitCoin marks Binance’s regulatory-compliant re-entry into the Japanese market.
  • The exchange was forced to limit its operations in Japan, and abandon its plans for a regional headquarters, when it received a warning from the FSA in 2018, and once again in 2021.
BlockFi Files for Bankruptcy Following FTX Collapse
  • BlockFi’s Chapter 11 filing revealed that it had $257 million in cash on hand, more than 100,000 creditors, and between $1 billion and $10 billion in both assets and liabilities.
  • The company’s largest creditors include FTX.US, which has a $275 million unsecured claim, and the Securities and Exchange Commission with a $30 million claim
BlockFi CEO Zac Prince

BlockFi CEO Zac Prince. CoinDesk

Aave Temporarily Freezes 17 Lending Markets
  • The temporarily frozen lending markets include YFI, CRV, ZRX,MANA, 1INCH, BAT, ENJ, AMPL, DPI. RENFIL, MKR, xSUSHI, sUSD, USDP, LUSD, GUSD, and RAI.
  • In order to improve its risk management, the protocol will no longer allow users to deposit or take loans with them on the platform.
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Line’s Bitfront Crypto Exchange to Close Down
  • Japanese messaging giant Line had decided to close down its crypto exchange business, and focus on its other blockchain and crypto initiatives.
  • New signups and credit card payments have already been shut down, additional services will be suspended mid-December, while trading and open orders will be canceled by the end of the month.
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Binance Launches Merkle Tree-Based Proof-of-Reserves System
  • Binance’s new proof-of-reserve system shows it has Bitcoin (BTC) balance of 582,485 tokens, while users have a net balance of 575,742 BTC.
  • The exchange also plans to involve a third-party auditor to verify its PoR system, as well as implement ZK-SNARKs to improve privacy.
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Binance Enters Japanese Market With SEBC Acquisition
  • Binance has officially launched its $1 billion industry recovery fund, and said it is ready to set aside another $1 billion in the near future “if the need arises”.
  • Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have all joined the fund with a combined contribution of $50 million.
Hodlnaut Under Fraud Investigation in Singapore
  • The police’s commercial affairs department is investigating Hodlnaut and its directors for possible cheating and fraud.
  • Singapore police received numerous reports between August and November this year about false representations relating to the company’s exposure to a “certain digital token”.
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Editors' Picks
FTX Owes Over $3B to Top 50 Creditors, Liquid Pauses All Trading
  • New bankruptcy court filings revealed that FTX owed its top 50 creditors around $3 billion, with sums ranging from $21 million and $226 million.
  • Japanese crypto exchange Liquid, which was acquired by FTX in May, suspended all trading on its platform only five days after pausing crypto and fiat withdrawals.
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Genesis Global Pauses Withdrawals, Gemini’s Earn Program Affected
  • Crypto lender Genesis Global has temporarily suspended redemptions and new loan originations as abnormal levels of withdrawals had exceeded the firm’s current liquidity.
  • Crypto exchange Gemini revealed that Genesis Global was the lending partner of its Earn program, and that it will not be able to meet customer redemptions within its SLA of 5 days.
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FTX Bankruptcy Filing Says it May Have Over 1M Creditors
  • A new document filed with the bankruptcy court in Delaware shows that troubled crypto exchange FTX may have more than one million creditors.
  • FTX has also filed a motion to group its more than 100 entities that are filing for bankruptcy together, rather than treating them as individual cases.
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Guides
4 Common Password Misconceptions
  • Passwords have become a part of our daily life, protecting our most sensitive data, and we have to make sure they are as secure as possible.
  • There are many ways a password can become compromised, as such it remains important that we become aware of some of the most common password myths.
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How to Find The Best DeFi Pools For Your Assets
  • Investment opportunities in defi are innumerous, but finding the best hasn’t been an easy task thus far.
  • Yield Samurai is a decentralized finance data aggregator that helps investors find the highest-yielding pools in a few clicks.
How to Explore Historical DeFi Data
  • Yield Samurai is a decentralized finance historical data aggregator.
  • It allows people to explore pool prospects on different platforms and apps to find the best place to earn interest on cryptoassets.
Impermanent Loss Explained With Examples & Math
  • Learn what impermanent loss is, how it manifests, and how to calculate it.
  • We use several examples and formulae for both standard and complex AMM-based pools to examine, explain, and plot impermanent loss.
How to Leverage Yield Farming on Alpha Homora – The Simple Guide
  • Learn how Alpha Homora works, how to open a leveraged position and earn more with the same amount of assets, and how to manage your positions.
  • We also explain how to choose a pool to leverage, the rules of leveraging on the platform, and how to calculate possible scenarios.
Opinion
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