Today's news tips:
Terraform Labs receives approval from U.S. Bankruptcy Court to begin liquidation
Genesis creditors hit by $243 million cryptocurrency scam, ZachXBT investigation leads to arrests of multiple suspects
Cyvers Alerts: BingX hacker attack caused losses of more than $52 million
Sky will begin removing WBTC from collateral on October 3
Multiple addresses containing 50 Bitcoins were reactivated after being dormant for 15.6 years
Bloomberg: OpenAI's latest round of financing is about to be completed, and the final list of investors will be determined on Friday
Black Myth: Wukong sold over 20 million copies on Steam in its first month, with total revenue exceeding $961 million
Ethereum Pectra upgrade confirmation is divided into two executions
Regulatory News
Terraform Labs receives approval from U.S. Bankruptcy Court to begin liquidation
According to Reuters, Terraform Labs received approval from the U.S. Bankruptcy Court on Thursday to begin liquidation. U.S. Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan at a hearing in Wilmington, Delaware, calling it a "welcome alternative" to continued litigation for investor losses. Terraform estimates that it will be able to pay $184.5 million to $442.2 million to cryptocurrency investors and other stakeholders as part of bankruptcy liquidation. According to previous news, in June this year, Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a $4.47 billion fine to the SEC. The SEC previously accused Terraform and its founder Do Kwon of defrauding cryptocurrency investors, who lost about $40 billion when TerraUSD and Luna tokens collapsed in 2022. Do Kwon faces criminal charges in both the United States and South Korea, but he denies any wrongdoing.
German government shuts down 47 crypto exchanges suspected of criminal activity
According to CoinDesk, the General Prosecutor's Office in Frankfurt am Main, Germany and the country's Federal Criminal Police Office (BKA) have closed 47 crypto exchanges allegedly involved in criminal activities such as money laundering. In a press release on Thursday, the BKA said that these exchanges deliberately failed to fulfill their obligations to conduct certain identity and background checks on customers and failed to meet KYC requirements. These exchanges include Xchange cash, 60cek, Baksman, and some other smaller platforms. One of the exchanges has been active since 2012, while the others were only established last year. Earlier this year, the BKA seized 49,857 bitcoins, then worth $2.1 billion, from the operator of a privacy website. The website was shut down in 2013 for violating the Copyright Act. The BKA began selling these tokens in July this year, and the resulting selling pressure and the almost simultaneous repayment of Mt. Gox funds led to a decline in the global crypto market.
Genesis creditors hit by $243 million cryptocurrency scam, ZachXBT investigation leads to arrests of multiple suspects
According to ZachXBT, Greavys (Malone Lam), Wiz (Veer Chetal) and Box (Jeandiel Serrano) allegedly stole $243 million from a Genesis creditor on August 19, 2024 through a complex social engineering attack. The modus operandi included pretending to be Google and Gemini customer service to obtain the victim's personal account information through fraudulent means. The 4,064 stolen bitcoins were quickly distributed to multiple addresses and converted between Bitcoin, Litecoin, Ethereum and Monero on more than 15 exchanges. ZachXBT's investigation helped freeze millions of dollars and led to multiple arrests.
At the same time, the U.S. Department of Justice website announced that 20-year-old Singaporean citizen Malone Lam (nickname "Anne Hathaway") and 21-year-old Jeandiel Serrano (nickname "VersaceGod") were indicted for suspected involvement in cryptocurrency theft and money laundering conspiracy. The two are suspected of using fraudulent means to access victims' cryptocurrency accounts and transfer funds to their control since August 2024, and then use cryptocurrency mixers and virtual private networks (VPNs) to conceal their identities and use the funds for luxury consumption. The two were accused of stealing more than 4,100 bitcoins (worth more than $230 million at the time). The case was jointly investigated by the FBI, IRS and other agencies.
Texas court dismisses ConsenSys lawsuit against the SEC and its chairman
According to Blockworks, a Texas court has dismissed Consensys' lawsuit against the U.S. Securities and Exchange Commission (SEC) and Chairman Gary Gensler. The lawsuit was originally filed in April this year, accusing the SEC of investigating Ethereum and issuing a Wells notice to the company behind MetaMask, warning it that it may face enforcement actions due to violations of federal securities laws by MetaMask Swaps and Staking products.
Judge Reed O'Connor noted that the SEC's enforcement action did not constitute a final agency decision, and therefore dismissed the claims regarding MetaMask. In addition, the allegations regarding Ethereum were deemed frivolous because the SEC closed its investigation into ETH in the summer.
Project News
Deus X Capital announces the launch of DeFi business Solstice Labs, which will be launched on the Solana chain in early 2025
According to CoinDesk, Deus X Capital today launched Solstice Labs, a decentralized finance (DeFi) business. The company will release its first protocol on the Solana blockchain in early 2025, providing all investors with enhanced income opportunities, targeting a total value of more than $100 million. Solstice Labs is led by Ben Nadareski, co-founder and CEO of Deus X Capital, and plans to introduce institutional-grade DeFi infrastructure. Deus X Capital has reached $1 billion in assets since its establishment in October last year.
Sky will begin removing WBTC from collateral on October 3
According to CoinDesk, the decentralized financial platform Sky (formerly MakerDAO) has passed a plan to remove Wrapped Bitcoin (WBTC) from its platform as collateral. This decision has attracted widespread attention because Sky currently has about $200 million in loans collateralized by WBTC, and WBTC, as one of the major cryptocurrencies, has a market value of nearly $10 billion. The move is related to risk concerns caused by WBTC custodian BiTGlobal and its connection with TRON founder Justin Sun. The first phase of the removal will start on October 3 and be completed on November 28.
BingX: The wallet system will undergo temporary maintenance and is expected to be gradually restored within 24 hours
According to the BingX announcement, due to the temporary maintenance of the wallet system, the arrival time of recharge and withdrawal may be delayed. The service is expected to be gradually restored within 24 hours, and users are advised to recharge or withdraw later.
This morning, BingX was suspected to have been attacked by hackers, and abnormal funds of US$13.6 million have flowed out.
Banana Gun: Less than 10 users were affected, the backend was not attacked, the problem may be caused by a frontend vulnerability
Banana Gun said on the X platform that some users experienced unauthorized wallet transfers. After the first incident, the team immediately shut down the bot and began to carefully check the backend. The team has confirmed that the backend has not been attacked. Both the router and the database have been thoroughly checked, and only a very small number of users (less than 10) were affected. In addition, the transfers appear to have been performed manually. The issue may be due to a front-end vulnerability. As the team prioritizes security, the bot will be kept offline during the investigation of the root cause.
Ethereum Pectra upgrade confirmation is divided into two executions
According to CoinDesk, Ethereum developers confirmed that the hard fork Pectra will be split into two parts to minimize the risk of mistakes or errors. Pectra is expected to be Ethereum's largest hard fork to date. The core developers decided to include a total of 8 Ethereum Improvement Proposals (EIPs) in the first package, including EIP-7702, which aims to improve the user experience of wallets. The second package will be modified in the coming months, but for now it may include proposals aimed at changing the Ethereum Virtual Machine (called EOF), while introducing a feature called PeerDAS, which improves data availability sampling, ultimately benefiting L2 blockchains.
Worldcoin is piloting Face Auth at select locations
According to The block, Worldcoin will test Face Auth technology for its World App users, and is currently piloting it in selected locations. The new feature "is a private 1:1 facial match that ensures that only those who have verified their World ID on the orb can" access the World App. The measure was introduced to improve the security of users who use the app for tools such as "online shopping, financial transactions, and secure login to applications."
SG Forge announces deployment of its Euro stablecoin EURCV to Solana blockchain
According to CoinDesk, SG Forge, a subsidiary of French financial services company Societe Generale, announced that it will deploy its euro stablecoin EUR CoinVertible (EURCV) to the Solana blockchain. Previously, EURCV was launched on Ethereum last year, but the market response was poor, with only 28 holders and 154 transactions. SG Forge said that Solana's high speed and low cost will unlock new possibilities for retail and institutional users in the field of decentralized finance (DeFi).
PeckShield: BingX exchange's total losses exceed $43 million
According to PeckShieldAlert, about 7 hours ago, hackers stole $16.5 million worth of cryptocurrency from the BingX exchange, and the funds were transferred to the address 0x1Dd7dAf089C16856155FeFd7e2170966bb6b3AEE. The stolen assets currently include 5,300 ETH, 4,100 BNB and 1.65 million MATIC. The total loss is estimated to be more than $43 million.
However, BingX said that only a small amount of assets were lost, all losses will be borne in full by the platform, and withdrawals will be processed within 24 hours.
Later news came out that according to Cyvers Alerts, the losses caused by the BingX hacker attack have exceeded 52 million US dollars.
Binance will suspend EOS token deposits and withdrawals on September 25 to support its upgrade and hard fork
Binance plans to suspend EOS (EOS) network token deposits and withdrawals at 21:00 (ET on September 25, 2024) to support network upgrades and hard forks. The project team plans to perform network upgrades and hard forks at 22:00 (ET on September 25, 2024).
Binance will suspend token deposits and withdrawals for opBNB Chain and BNB Smart Chain to support its network upgrade and hard fork
opBNB Chain (opBNB) will undergo a network upgrade at 14:00 (ET on September 24, 2024). Binance plans to suspend token deposits and withdrawals for opBNB Chain (opBNB) at 13:45 (ET on September 24, 2024).
BNB Smart Chain (BEP20) will undergo a network upgrade at 10:20 (ET on September 26, 2024). Binance plans to suspend BNB Smart Chain (BEP20) token deposits and withdrawals at 10:10 (ET on September 26, 2024).
Binance Finance, one-click coin purchase, flash exchange, leveraged launch of Catizen (CATI)
Binance announced that it will launch Catizen (CATI) tokens on the financial management, one-click coin purchase, flash exchange, leverage and fixed investment platforms. In terms of leveraged trading, CATI/USDT and CATI/FDUSD leveraged trading pairs will be open at 20:00 on September 20.
Later in the day, it was reported that Binance postponed the launch time of Catizen (CATI) to 19:00 on September 20, 2024.
Binance Futures will launch FIO 1-75x USDT perpetual contracts
According to the official announcement, Binance Futures will launch the FIOUSDT perpetual contract at 19:30 (ET8) on September 20, 2024, with a maximum leverage of 75 times.
BNB Chain has been integrated with the messaging app Telegram
According to the official blog, BNB Chain announced that it has integrated with the messaging application Telegram. BNB Chain said that this integration makes Web3 more accessible, which is an important step for BNB Chain to introduce the next billion users to Web3. For users, users can seamlessly manage BNB through Telegram wallets. Using Telegram robot wallets such as CodexField Wallet and UXUY Wallet, users can send, receive and interact with decentralized applications (dApps) in Telegram chats without switching between multiple applications. These wallets serve as a convenient gateway to the BNB Chain ecosystem, enabling users to fully manage their assets directly in Telegram. For developers, developers who want to build on BNB Chain can use Privy SDK to integrate Telegram login into their applications. Privy SDK simplifies the user registration process, allowing users to connect their Telegram identity to their platform with just a few clicks.
Ant Financial is recruiting RWA architects in Hong Kong and will be involved in the Ensemble project of the Hong Kong Monetary Authority
According to Sina Technology, Ant Digital Technology has posted multiple RWA architect positions on its overseas social media, all based in Hong Kong. Insiders said the recruit will participate in the sandbox work of the Hong Kong wholesale central bank digital currency Ensemble project. Just a month ago, Ant Digital Technology had just landed the first cross-border RWA order for a mainland enterprise in Hong Kong with a total amount of 100 million yuan.
Catizen officially releases two ways to capture long-term value of CATI tokens
According to official news, Catizen released a pre-listing announcement to explain the application value of its $CATI token. It is reported that CATI tokens have two ways to capture long-term value: for continuous staking mining in Launchpool and as an Airdrop Pass. That is, users will be able to use CATI tokens and cats for continuous staking mining, and can obtain other third-party project tokens from the Catizen Ecological Application Center in the later stage.
In addition, the airdrop order will be used to distribute the remaining 19% of $CATI airdrop tokens, with 1% of $CATI airdropped every quarter. Users can check the airdrop amount at any time to ensure the transparency and fairness of the airdrop.
Original link
Financing News
Bloomberg: OpenAI's latest round of financing is about to be completed, and the final list of investors will be determined on Friday
According to Bloomberg, citing people familiar with the matter, OpenAI's latest round of financing is about to be completed, and the final list of investors will be determined this Friday. People familiar with the matter said that OpenAI's current round of $6.5 billion financing has been oversubscribed, and the market's oversubscription amount is as high as billions of dollars, which means that some potential investors will not be able to participate in this round of financing. Several strategic investors, including Microsoft, OpenAI's largest investor, and new investors Nvidia and Apple, may get the opportunity to participate. The deal will value OpenAI at $150 billion. People familiar with the matter also revealed that OpenAI's existing investor Sequoia Capital will not participate in this round of financing. Sequoia Capital recently invested in OpenAI's competitor Safe Superintelligence Inc., which was founded by OpenAI co-founder Ilya Sutskever, who left OpenAI earlier this year. In addition, existing investor Thrive Capital will lead this round of financing and will invest $1.25 billion.
Important data
20,200 BTC options and 125,000 ETH options are about to expire, with a total notional value of $1.6 billion
Greeks.live macro researcher Adam posted on the X platform that 20,200 BTC options are about to expire, with a Put Call Ratio of 0.86, a maximum pain point of $59,000, and a nominal value of $1.28 billion. 125,000 ETH options are about to expire, with a Put Call Ratio of 0.67, a maximum pain point of $2,350, and a nominal value of $320 million.
This week, the cryptocurrency rebound continued. The Fed's final rate cut of 50 basis points slightly exceeded market expectations, which greatly boosted market confidence. In addition, the third quarter is coming to an end, and investors are starting to plan for the fourth quarter. After the rate cut, the IV of all major maturities has declined. As the quarterly delivery approaches, IV is still under downward pressure. From September to now, BTC has performed well, while ETH is relatively weak. The exchange rate against BTC rebounded at the long-term support level of 0.04. The market in October is worth paying attention to.
Data: Bitcoin spot ETFs had a total net inflow of $158 million yesterday
Black Myth: Wukong sold over 20 million copies on Steam in its first month, with total revenue exceeding $961 million
According to IT Home, citing VG Insights data, since its release on August 20, 2024, Black Myth: Wukong has sold more than 20 million copies on Steam in the first month, with total revenue exceeding US$961 million (approximately RMB 6.795 billion). In addition to Steam, the game is also released on WeGame, PlayStation and Epic platforms. Black Myth: Wukong has a 96.04% positive rating on Steam, with a maximum of 575,940 people online at the same time within 24 hours. Game Science investor Wu Dan expects the game to sell 30 million copies during its life cycle, and DLC will be released in the future.
Multiple addresses containing 50 Bitcoins were reactivated after being dormant for 15.6 years
Whale Alert monitoring shows that at 14:49 and 14:54 Beijing time today, a long-term inactive address containing 50 bitcoins (worth about $3.19 million) was reactivated after 15.6 years. Subsequently, at 15:04 and 15:13, two miner addresses containing 50 bitcoins were also reactivated after 15.6 years.
Including the 50 bitcoins activated at 14:30 today, a total of 5 addresses that had been dormant for more than 15 years were transferred within an hour, with 50 bitcoins transferred each time.
Ethereum Foundation sold 300 ETH in nearly half an hour
According to on-chain analyst @ai_9684xtpa, the Ethereum Foundation sold 300 ETH worth $760,000 in the past half hour at a selling price of $2,543.
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