Observations:
Review of bridge hacks this year: Qubit Finance's bridge was hacked for $80M. Wormhole bridge was hacked for $320M. Axie Infinity's Ronin bridge for $622M in ETH and USDC
Harmony team yesterday identified a theft on the Horizon bridge amounting to $100M, notified exchanges and stopped Horizon-Ethereum bridge to prevent further transactions. Attacker accomplished this by somehow controlling the owner of the MultiSigWallet to call the confirmTransaction() directly to transfer large amounts of tokens from the bridge on Harmony. Tokens stolen include: WETH, AAVE, SUSHI, DAI, USDT and USDC. Team also clarified that its BTC bridge is safe - source - 2nd - 3rd - 4th
Curious timing - another major bridge hack victim, Ronin Network, plans on reopening the Ronin Bridge on June 28th with all user funds returned. Will require a Ronin hard-fork which requires all validators to update their software - source
Plus more. Solana mobile phone, convex and ribbon hacks, AnubisDAO funds on the move, 3AC shit still going on, Eminem & Snoop Dog BAYC music video. Plus a ton more. Crypto never sleeps it seems. Have a great weekend.
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Crypto:
Convex Finance DNS was hijacked, prompting users to approve malicious contracts for some interactions on the site. Funds on verified contracts are unaffected and at least five wallets were affected. Attacker wallet transferred just under $1,000 worth of USDC and CRV via Uniswap Convex has set up new website addresses (URLs). Later Ribbon Finance suffered a DNS hijacking attack from the same attacker - source - 2nd - 3rd
Solana Labs introduces open source Solana Mobile Stack for Android, enabling native Android web3 apps on Solana and Saga, an Android mobile phone. Devices will cost ~ $1,000 and be available for delivery in early 2023. Will feature a Web3 dapp store, integrated “Solana Pay”, a mobile wallet adapter and a “seed vault” - source - 2nd
Exchange CoinFLEX pausing all withdrawals, due to extreme market conditions similar to Celsius, Babel Finance, Finblox, and Voyager Digital in either freezing or limiting user withdrawals. Trading is being halted for perpetual swaps and spot trading in the short term. Claims counterparty is not Three Arrows Capital or “any lending firm” - source
Kyber Network: 3AC’s potential insolvency may have some impact since small portion of treasury was with 3AC. Treasury can still sustain Kyber’s development for many years - source
Funds from the AnubisDAO rug pull are on the move for the first time as the hackers have funneled 1,018 ETH via Tornado Cash. $60M was stolen from the AnubisDAO project in October 2021. Wallet still holds 12,500 ETH from AnubisDAO - source
Bitcoin drawdown from ATH has reached 73.3%, compared to previous bear market lows of between 75% and 84% - source
CoinList 2022 summer batch of seed projects, including the options trading platform Arrow Markets, NFT market Candy Shop, asset cross-chain protocol TeleportDAO, Web3 privacy Mystiko, automation tool Loop Crypto and music NFT platform Decent - source
The Moonbeam Foundation has indicated that it has allocated up to 1.5% of the GLMR genesis supply to fund a grant-based liquidity program for the Harvest Moon campaign - source
Out of abundance of caution after Harmony bridge hack, validators in Celer cBridge has quickly reached consensus to trigger a pre-defined protocol to pause ALL bridge transactions - source
EulerDAO is live: can claim any available EUL tokens from previous epochs, select a delegate on the delegates page and participate in the future of defi - source
Bancor speaks out: after pausing a key feature, wallets linked to Celsius and Nexo withdrew large positions. The team exercised emergency powers to prevent “a small handful of large players” from causing catastrophe - source
Binance U.S now offers the ability to convert dust (anything under $20 value) to BNB - source
Crypto. com now accepts Apple Pay for crypto purchases in the United States - source
Coinbase Derivatives Exchange, formerly known as FairX, is launching its first crypto derivatives product this month. Coinbase bought FairX earlier this year. FairX launched its futures exchange platform in May 2021 after receiving regulatory approvals in late 2020 - source
Coinbase Adds Support for On-Chain Polygon and Solana Transactions with plans to add support for more tokens and more networks - source
Coinbase will require customers in the Netherlands to comply with local regulations when sending digital assets outside of Coinbase, may need to provide information about the transaction and recipient - source
Ratings agency Moody’s has downgraded Coinbase’s corporate debt due to substantially weaker revenue - source
A brief look into 2nd generation AMMs - source
Mainnet launch of Cega - first on-chain DeFi exotic derivatives generating a risk-adjusted safer yield - source
The Ocean Data Farming program incentivizes for growth of data consume volume in the Ocean ecosystem. Stakers can claim DF1 rewards. DF2 counting has begun - source
NFTs/Metaverse:
Snoop Dogg & Eminem released a new music video featuring Bored Ape Yacht Club - source
Chevy is auctioning off a Corvette NFT with the winning bidder receiving a physical custom-painted 2023 Corvette Z06 as well - source
Klaytn Foundation has joined forces with OpenSea, the world’s leading marketplace for NFTs, to invest in the Asian NFT ecosystem - source
BNB Chain NFT support confirmed by Nansen - source
Stepn GST down 97% despite having 3M active users each month - source
Takes on the Yuga Labs racism/neo-nazi allegations - source
RMRK - second phase kanaria phase of SkybreachNFT Land sale - source
Soccer Arena + Polygon Studios - source
Raises:
Translucia Global Innovation has partnered with software development firm Two Bulls with an initial budget of $100M to build a Metaverse Research and Development Center (MRDC) in Melbourne - source
Cryptoys has raised $23M in its Series A funding round led by Andreessen Horowitz (a16z), Mattel, Dapper Labs, - source
Gearbox $5.5M strategic DAO funding proposal at a $150M valuation - source
Next Gen AMM on StarkNet SithSwap raises $2.65M in Seed Round - source
Cyan, Buy Now, Pay Later (BNPL) service for the metaverse, raises $2M - source
NFT value discovery platform EyesFi $2M funding - source
New Listings:
Data:
Bitcoin: $21,274.42, up 4.3% (24H)
Ethereum: $1,213.54, up 9.8%(24H)
Crypto Market Cap: $995B, up 3.8% (24H)
Fear & Greed Index: 11
DeFi TVL Change: $76.41B, up 4.81 % (24H)
24H Gainers: CEL, MATIC, 10SET, AXS, ZIL
24H Losers: LEO, SNX, PAXG, XCN, DAI
Nansen Smart Money Token Inflow and Outflows:
Inflow: APE, LOOT, SOLw, INDI, PDT
Outflow: aSTETH, bb-a-USD, VGX, xDG, CBX
Nansen Smart Money Top Transactions (24H):
Master Ventures swapping USDT for CERE
Alameda swapping WETH for USDC, MATIC, SYN, RBN, LDO
Blockchains by NFT Sales Volume (24H):
Ethereum down 9.08%
Solana up 9.42%
NFT Collection Rankings by Sales Volume (24H):
Dooplicator up 161.43% with $1,544,885 in sales
Mutant Ape Yacht Club up 45.03% with $961,382 in sales
CryptoPunks down 44.33% with $821,930 in sales
Nansen NFT Smart Buys (24H) :
Moonrunners: 15 Smart Buyers with 9.03 ETH volume
Gossamer Seed: 5 Smart Buyers with 10 ETH volume
Web4Ded: 3 Smart Buyers with .1675 ETH volume
Nansen NFT Smart Sells (24H):
Moonrunners: 63 Smart Sellers with 18 ETH volume
AreYouSeeingThis: 31 Smart Sellers with 2.01 ETH volume
SpunMonkes: 20 Smart Sellers with .4272 ETH volume
Nansen NFT Smart Mints (24H):
Never Extinct League: 69 Smart Minters with .656 ETH volume
Moonrunners: 68 Smart Minters with 1.08 ETH volume
Escape the Agenda: 67 Smart Minters with .371 ETH volume
Unlocks:
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