$42 Billion Blow 🤯
In today's edition: 🥷 Azuki's governance token exploited, Celsius customers 💘 altcoins?, 📄 Singapore regulation, and more!
What’s Poppin’?
by Samyuktha Sriram
Poly Network Hacker Minted $42 Billion Tokens on Multiple Chains
The exploit affected 57 crypto assets on 10 blockchains, including Ethereum, Polygon, Avalanche and BNB Chain.
Azuki DAO Governance Token Contract Exploited Amid Vote to Sue Founder
Blockchain analytics firm MetaSleuth found that Azuki DAO’s BEAN token was exploited due to a contract vulnerability.
Celsius to Convert All Altcoins to Bitcoin and Ethereum
Bankrupt crypto lender Celsius has been granted permission to sell all of its altcoins, except for those held in custody accounts.
Singapore Regulator Orders Crypto Firms to Keep Client Funds in a Trust
The Monetary Authority of Singapore (MAS) would require crypto exchanges to move their customer funds into a trust before the end of the year.
On the Pod…
Show highlights:
what the Daniel Friedberg lawsuit revealed about the whistleblowers of FTX
whether Friedberg’s former law firm, Fenwick & West, will suffer legal consequences
how John Ray is prosecuting the allegedly fraudulent transactions made by FTX
what stood out to Thomas in his personal dealings with John Ray
what the timeline is for filing a reorganization plan for FTX
what the odds are of an FTX 2.0 relaunch, according to Thomas
Daily Bits…✍️✍️✍️
⚠️ After the U.S. Securities and Exchange Commission informed Nasdaq and Cboe that recent filings for spot Bitcoin ETFs lacked clarity and comprehensiveness, Cboe resubmitted updated 19b-4 filings for spot Bitcoin ETFs from Invesco Galaxy, VanEck, WisdomTree, and Wise Origin, and named Coinbase as its SSA partner.
🔍 The IRS secured a federal court order compelling crypto exchange Kraken to surrender account and transaction details to investigate potential tax under-reporting from its users between 2016 and 2020.
📜 South Korean legislators approved a crypto bill that enables enforcement of penalties and liability for damages stemming from unfair digital asset trading practices.
🎨 Azuki is restructuring after the downfall of its new NFT character collection, while digital collectibles entities Candy Digital and Palm NFT Studio have announced a merger aimed at broadening licensed NFT projects.
🔒 Crypto exchange Huobi addressed a data breach which threatened user assets since June 2021, involving exposure of cloud storage access credentials, now deleted and secured.
💼 Citigroup is reconsidering its partnership with Swiss digital asset custodian Metaco, possibly in light of Metaco's recent acquisition by Ripple, which is embroiled in a legal dispute with the SEC.
Today in Crypto Adoption...
⚽ OKX augmented its sponsorship deal with football club Manchester City, with a new multi-year agreement featuring the company's logo on the sleeves of the men's and women's first-team playing kits.
🚀 Ethereum Name Service (ENS) is set to expand into the Layer 2 ecosystem, facilitating interoperability with ENS domains to enhance scalability and decrease costs.
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What Do You Meme?
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What Is Solo Mining Bitcoin & How Does it Work?
Despite the low chance of winning a block reward, solo mining has emerged as a popular pastime for Bitcoiners with an interest in mining.
📈 Your Market Update 📉
BTC is up .4%, trading at $30,658
ETH is up 2.3%, trading at $1,961
BTC dominance: 47.55%
Crypto market cap: $1.25 trillion
*All data as of today, 7:00 am ET
On Unchained Premium 💎
Recommended Reads
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Coinage: He stole $200 million. He gave it back. Now, the hacker is explaining why
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