Crypto Exchange News & Updates

Fantom Foundation: Approximately $550,000 in Foundation Funds Stolen, Majority of Funds Still Secure

The Fantom Foundation has released a statement on X platform, acknowledging that a small number of Fantom wallets were compromised, including approximately $550,000 of the Fantom Foundations funds. However, the majority of the Fantom Foundations funds (over 99%) remain unaffected and secure. While initial reports suggested that the attack occurred through a zero-day vulnerability in Google Chrome, the exact attack mechanism is still under active investigation.　　Furthermore, a personal wallet of a Fantom employee was also affected. Some of the wallets that were initially labeled as “foundation wallets” were later reallocated to a Fantom employee, indicating that this incident is considered a targeted attack on an individual. The official investigation is ongoing to trace and recover the funds lost by the employee.　　In a previous report monitored by CertiK, it was confirmed that certain wallets on Ethereum and Fantom were compromised, resulting in losses of $657,000. Andre Cronje, a director at the Fantom Foundation, clarified that the funds stolen on Fantom belonged to an employee rather than the foundation.　　

2023-10-18Deep Dive

Platypus: 90% of Stolen Funds Returned, Further Withdrawal Details to be Announced

As mentioned earlier, the stablecoin trading project Platypus Finance suffered a hack, resulting in a loss of approximately $2.2 million.　　The Platypus team has left a message on the blockchain, stating that if the hacker returns the stolen funds within the specified time (by 10:45 AM UTC on October 16th), they will offer a 10% bug bounty of the total amount.　　According to PeckShieldAlert, the Platypus attacker has transferred 41,000 sAVAX and 104,700 AVAX (totaling $1.4 million) to Platypus multi-signature address, 0x068e...FdEB.　　Subsequently, Platypus Finance announced that 90% of the stolen funds have been returned, reducing the net loss to approximately 18,000 AVAX. As per their agreement, Platypus will not pursue any legal action.　　Platypus will release further withdrawal arrangement details as the situation develops.　　

2023-10-18Deep Dive

AbyssWorld Reports Chainhill Capital Default, Prepares Early AWT Token Unlock

AbyssWorlds community administrators have issued a notice stating, “To secure the necessary funds for game development, we have decided to postpone the SUI airdrop to Gazer holders this month. We have faced prolonged deception, and our early major investor, Chainhill Capital, has faced issues, with investments for AbyssWorld and other games not being received. For AbyssWorld, there has been outstanding payment for over half a year, and as we expanded the team as planned, we consumed more cash reserves than anticipated.”　　Furthermore, the announcement mentions that the project will do its best to reimburse and compensate affected community users and will maintain records of Gazer holders. Due to financial constraints and the inability to fulfill market-making commitments, the project has decided to unlock and release all remaining AWT tokens for Gazer and IDO holders to help disappointed investors exit sooner. They also plan to announce the burning of a portion of the repurchased tokens shortly.　　

2023-10-13Deep Dive

Binance CR7 ForeverZone Launched To Celebrate Close Collaboration

In a thrilling partnership that combines sports and technology, Binance and soccer legend Cristiano Ronaldo have announced the launch of the Binance CR7 ForeverZone NFT collection. This marks the third NFT collection in their ongoing collaboration, promising fans unprecedented experiences.Binance and Ronaldo Launch Binance CR7 ForeverZone NFT Collection　　The Binance CR7 ForeverZone collection introduces 50,000 limited-edition mystery boxes, each granting access to a unique CR7-inspired NFT, aiming to bring fans closer to one of the greatest players of all time. This collaboration not only showcases Binance‘s innovative spirit but also celebrates Ronaldo’s ever-present charisma, revered not only in Europe but globally.　　This partnership began last summer when Binance and Ronaldo joined forces to provide fans with extraordinary experiences through NFTs. Ronaldos “CR7” NFT collection, featuring seven animated statues with various rarity levels, made a remarkable debut. It was followed by the “Forever CR7: The GOAT” NFT collection, celebrating digital renditions of his iconic goals.Unique NFT Experience: Meet Cristiano Ronaldo　　The collection is a unique blend of tech and talent, featuring 50 signed footballs, 50 shirts, 50 tickets for Binance Blockchain Week, and exclusive NFTs from previous Ronaldo collaborations. The crown jewel is the golden ticket NFT, offering one lucky fan the chance to

2023-10-12Deep Dive

Galxe: User Losses to Be Compensated in USDT with an Additional 10% Compensation

Galxe has issued an announcement in response to the attack on October 6th. They have stated that user losses will be fully compensated in USDT on the Polygon network and an additional 10% compensation will be provided. If users believe they were affected but their wallet addresses are not on the list or if they find discrepancies in the value calculations of their losses, they can contact the official email.　　In previous news, Galxe experienced a DNS hijacking on October 6th, and multiple users had their assets stolen due to logging into the Galxe website and connecting their wallets during that period. The total amount of funds stolen from users did not exceed $200,000.　　

2023-10-11Deep Dive

Circle Launches Native USDC on Polygon PoS

Circle has launched native USDC on the Polygon PoS mainnet, making it accessible to developers and users without the need for bridging. Circle Mint and Circle API now fully support Polygon PoS USDC.　　In a previous announcement, Circle stated that it would cease supporting deposits and withdrawals of bridged USDC through Circle accounts and its API on November 10th. After this date, Circle accounts and its API will only support native USDC.　　Before the introduction of native USDC, USDC on block explorers like PolygonScan was denominated as USDC.e due to its Ethereum bridging. This change will also necessitate reaching out to the ecosystem of DApps to make appropriate adjustments to their application UI and documentation.　　Circle advises users not to send bridged USDC.e to their Circle accounts after November 10th, as recovery may not be possible, potentially resulting in financial losses.　　

2023-10-11Deep Dive

Bloomberg: Binance's $1 Billion "Industry Revival Plan" Deploys Less Than $300 Million

Bloomberg reported that after the collapse of FTX in November of last year, Binance initiated the Web3 Industry Recovery Initiative (IRI) and publicly disclosed a wallet address containing 1 billion BUSD. However, wallet records to date indicate that the initiative has deployed less than $30 million since its launch, with only one of the nine designated participants fully committing their pledged funds.　　As part of this initiative, Binances sole publicly disclosed investment is the majority stake purchase in the South Korean cryptocurrency exchange GOPAX for $15 million, which was announced in February. Binance has stated that it is awaiting final regulatory approval from local authorities to complete the transaction.　　A Binance spokesperson has confirmed that the IRI has funded 14 projects but declined to disclose the names of these projects or the specific amounts of funding provided. The IRI is still accepting applications. An insider revealed that the cryptocurrency market maker GSR assessed 60 applications received through the IRI, but none of them aligned with its strategic goals.　　In a previous report from March, about 985 million BUSD was transferred from the Binance Industry Recovery Fund.　　In the meantime, the cryptocurrency asset industry continues to face a cash crunch, with companies resorting to layoffs

2023-10-11Deep Dive

CZ failed in starting a $1 billion fund to promote the crypto market

According a recent Bloomberg article, the Industry Recovery Initiative (IRI), a proposal initiated by Binance CEO Changpeng Zhao after the FTX debacle, has not been successful.The CEO of Binance and the Failure of the Industry Recovery Initiative　　The CEO of Binance Changpeng Zhaos audacious Industry Recovery Initiative (IRI), initially boasting a formidable $1 billion fund, has witnessed a significant decline, dwindling to a mere $32 million balance, despite deploying less than $30 million of its capital.　　Zhao stepped into the role of an industry savior in the wake of the FTX collapse in November, pledging to rescue struggling startups through his Industry Recovery Initiative. This ambitious plan aimed to raise a staggering billion dollars to support crypto-focused ventures affected by the FTX incident.　　However, the current reality paints a starkly different picture from the initial promise, as reported by Bloomberg. Their data reveals that Binance‘s billion-dollar lifeline has eroded to just $32.4 million, with less than $30 million having been deployed. What was once seen as a beacon of hope for the crypto industry’s revival has now become a quiet disappointment.The CEO of Binance‘s Ambitious Plan and the Disappointing Reality　　The muted decline of the IRI has raised doubts among industry leaders regarding the

2023-10-11Deep Dive

Bloomberg: Deribit Plans to Offer SOL, XRP, and MATIC Options Trading in January Next Year

According to Bloomberg, the cryptocurrency options trading platform Deribit plans to expand its cryptocurrency options offerings. Deribit COO Luuk Strijers stated that starting from January next year, they will support options trading for Solana (SOL), Ripple (XRP), and Polygon (MATIC).　　Luuk Strijers also mentioned that in the future, they intend to apply for a cryptocurrency broker license in the European Union (EU) and are considering relocating the company from Panama to Dubai, pending regulatory approval.　　

2023-10-10Deep Dive

Hong Kong Police Uncover 11 Binance Scam Cases Worth Millions!

Hong Kong police have issued a warning about a rising threat in Binance scam.　　Binance scam fraudsters have been actively targeting individuals by sending phishing text messages, masquerading as Binance, the world‘s largest cryptocurrency exchange. These malicious actors are using deceptive tactics to compromise users’ Binance accounts and siphon off their digital assets, leaving victims in financial turmoil.11 Victims Fall Prey to HK$3.5 Million Binance Scam　　Over the past two weeks, Hong Kong police have received reports of 11 cases where unsuspecting individuals fell victim to these Binance scam schemes. These incidents have resulted in the unauthorized transfer of virtual assets from their Binance accounts, amounting to a staggering 3.5 million yuan in losses.　　To help citizens safeguard their investments and digital assets, the police have outlined five crucial precautions to take when engaging in virtual investment activities:　　Prioritize Security: Investors must remain vigilant and assess the security risks associated with the platforms and networks they use for virtual asset transactions.　　Choose Licensed Platforms: Opt for virtual asset trading platforms that are licensed in Hong Kong. A list of such legitimate platforms is available for reference.　　Secure Offline Wallets: For those with substantial holdings of virtual assets, its advisable to store them in offline wallets. This

2023-10-10Deep Dive

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