Curve Finance Hack
On July 31, 2023, the largest hack in the history of Curve Finance took place. A hacker exploited a re-entry vulnerability in alETH/msETH/pETH pools and hacked over $24 million worth of them. Also, another $21 million was stolen from the CRV/ETH pool – 7680 ETH and 7.2 million CRV, resulting in a total damage of over $100 million for Curve Finance. Later, PeckShieldAlert experts reported that they managed to return 73% of the stolen money, which is $52.3 million, but the remaining $19.7 million is still at the disposal of the hacker.
Continuation of the history of hacker attacks on the Bitfinex and FTX exchanges
Ilya Lichtenstein pleaded guilty to organizing the hacking of the Bitfinex cryptocurrency exchange in 2016. Now he faces up to 20 years in prison, and his wife, who was involved in laundering the stolen 120,000 BTC, up to 10 years.
Arkham Intelligence has announced a $46,000 reward for accurate information about the hacker involved in the FTX hack in November 2022. It is necessary to provide the name of the offender and irrefutable evidence of his guilt.Rumors about Huobi problems
Chinese crypto exchange Huobi is facing suspicious balance sheet shifts. One of the main concerns was the fact that Huobi, according to analysts, had only about $41 million in assets, while the exchange has about $631 million in liabilities to customers. This raised concerns that Huobi may be insolvent and will not be able to return their funds to customers.
Institutional Interest in Bitcoin:
The trend of Bitcoin accumulation by institutional investors continues to gain momentum, which underlines the growing interest in the cryptocurrency market among large financial institutions. In the second quarter of 2023, Tether, the issuer of the USDT stablecoin, purchased 2,310 BTC worth $70 million as part of their investment strategy, in which they plan to put 15% of their net profits into Bitcoin. However, judging by the latest report, they have so far invested only 7% of the declared volume. At the moment, Tether has a total of 55,008 BTC on its balance sheet, which is almost $1.7 billion.
Microstrategy also continues to actively accumulate Bitcoin. In June 2023, their CEO Michael Saylor purchased 12,333 BTC, which increased the company’s total balance to 152,333 BTC. From the subsequent report, it follows that the company bought an additional 467 BTC, thereby increasing the total amount of cryptocurrency to 152,800 BTC, which is equivalent to $4,468,000,000.
One of the important news is the launch of the Binance crypto exchange in Japan, which is scheduled for August 14th. There will be 34 tokens available from Binance Japan, including the BNB token, which will be available in Japan for the first time. This will expand the audience of the platform and provide investors from Japan with access to a wide range of cryptocurrency assets.
Binance also introduced the FDUSD stablecoin, which was minted in the amount of $83,280,000. About $68.3 million of FDUSD is issued on the Ethereum blockchain, and $14.98 million on BNBChain. The total amount of FDUSD issuance is more than $104.4 million, with 99.9% of all issued tokens held on the controlled Binance wallet. The daily trading volume of this stablecoin is $165 million, which indicates its active use.
The Binance exchange continues to actively attract users from all over the world. The number of registered users increased by 30 million in a year and now stands at 150 million. The company is also establishing itself as one of the world’s largest fintech companies, as one of the top 200 financial technology companies compiled by CNBC.