Keep up to date with StealthEX and CryptoDaily! This week, we’re presenting probably the most important happenings within the cryptocurrency world. Curious concerning the present tendencies? Our digest affords clear insights, contemporary views, and the most recent developments within the crypto house. Preserve your self knowledgeable with our concise protection, guaranteeing you’re at all times within the loop on what’s occurring within the crypto scene.
Phishing Assault Targets Crypto Whale, Steals $55 Million in Dai Tokens
A latest phishing assault has led to the theft of $55 million price of Dai tokens from a outstanding crypto whale.
The assault was reported by blockchain analytics agency Lookonchain and cybersecurity specialists at CertiK. The attacker, generally known as “Fake_Phishing187019,” exploited weaknesses within the sufferer’s digital pockets. This pockets, much like a standard checking account, was compromised resulting from inadequate safety.
The breach occurred on August 20, 2024. The attacker tricked the sufferer into signing a misleading transaction. This transaction transferred possession of a digital asset, DSProxy #166,776, to a phishing handle. As soon as the attacker had management, they swiftly stole the Dai tokens.
The stolen funds have been laundered by way of complicated transactions. The hacker first transferred $36 million to an unknown handle. Then, $17.5 million was moved by way of the CoW protocol. To additional cover their tracks, the hacker exchanged the Dai tokens for Ethereum and Bitcoin through Uniswap V3.
CertiK recognized the phishing method as an “Inferno Drainer” exploit. This methodology includes malicious sensible contracts that seem professional however trick customers into granting entry to their property.
Kamala Harris Might Help Professional-Crypto Insurance policies, Adviser Hints
A senior adviser to Kamala Harris’ marketing campaign has steered that the Vice President may help insurance policies that encourage progress within the cryptocurrency business. Nevertheless, the specifics of those insurance policies should not but clear.
The adviser, Brian Nelson, emphasised Harris’ potential backing for insurance policies that assist rising applied sciences like cryptocurrencies thrive. He identified the necessity for clear “guidelines of the highway” to information the business. This comes within the wake of high-profile incidents, such because the collapse of FTX, highlighting the significance of a regulated setting that also permits innovation.
Although Harris has not publicly shared her views on cryptocurrency, her marketing campaign crew has been in discussions with key business leaders. Firms like Coinbase, Circle, and Ripple Labs have been a part of these talks, signaling a attainable shift in her method towards the sector.
Help for Harris inside the crypto group is rising. Notable figures, together with J.P. Thieriot, former CEO of Uphold, have proven their backing. A digital city corridor on August 14 noticed lively participation from crypto advocates, the place discussions touched on how Harris may help the business if she turns into president. Senate Majority Chief Chuck Schumer additionally hinted at potential pro-crypto laws by 2025.
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Aave Launches V3 on Period Mainnet Powered by ZKsync
Aave, a number one DeFi protocol, has launched its V3 model on the Period Mainnet, using ZKsync expertise. This transfer is predicted to deliver enhanced liquidity and yield technology to the Elastic Chain ecosystem.
ZKsync expertise affords environment friendly and safe transactions. Aave V3 customers will profit from low-cost transactions that keep safety by way of Ethereum’s cryptographic validity proofs. The mixing additionally contains Chainlink’s dependable value feeds, guaranteeing correct market knowledge.
Stani Kulechov, Founder and CEO of Aave Labs, highlighted the importance of this launch. He said that the mix of ZK-proofs and the Elastic Chain ecosystem will present unprecedented scalability, privateness, and safety. This might probably broaden the DeFi person base and entice new institutional use circumstances.
Alex Gluchowski, Co-Inventor of ZKsync, emphasised Aave’s position within the crypto business. He famous that ZKsync’s Elastic Chain goals to turn out to be a safe entry level for each retail and institutional customers. The deployment of Aave on Period will permit a broader viewers to completely make the most of ZKsync’s superior scaling capabilities.
Johann Eid, Chief Enterprise Officer at Chainlink Labs, expressed enthusiasm for the collaboration. He praised the affect each Aave and ZKsync have had on the DeFi and blockchain sectors. Eid emphasised that the deployment of Aave V3 on Period Mainnet marks a big step ahead in DeFi scalability and will improve institutional curiosity in on-chain finance.
With the combination of Aave, ZKsync is predicted to draw extra customers, improve the DeFi expertise, and solidify Aave’s place as a number one protocol inside the rising Elastic Chain ecosystem.
SEC Rejects Cboe’s Solana ETF Filings Amid Safety Considerations
The U.S. Securities and Change Fee (SEC) has rejected Cboe BZX’s filings for 2 proposed Solana Change-Traded Funds (ETFs). These 19b-4 filings, submitted on July 8, have been withdrawn from Cboe’s web site following the SEC’s resolution.
The SEC’s rejection stems from its ongoing considerations about Solana’s classification as a safety. This viewpoint has persistently been part of the Fee’s authorized stance in varied court docket circumstances. In consequence, the Solana ETF proposals have been stalled, highlighting the challenges cryptocurrency-based monetary merchandise face in gaining approval within the U.S.
The 19b-4 filings are important for advancing ETF proposals. These paperwork set off the SEC’s formal evaluate course of as soon as posted within the Federal Register. Nevertheless, the SEC’s rejection on this case meant that the Solana ETF proposals didn’t progress to this stage.
ETF journalist Eric Balchunas famous that the Solana ETF filings didn’t transfer past the preliminary phases. The SEC’s lack of acknowledgment led to the withdrawal of the filings by the exchanges. Regardless of this setback, the S-1 registration statements from the issuers stay lively, although they don’t carry the identical regulatory deadlines because the 19b-4 filings.
Marathon Digital Acquires 4,144 BTC, Rising Reserves to 25,000 BTC
Marathon Digital Holdings has accomplished the acquisition of 4,144 Bitcoin (BTC) for $249 million. The acquisition was funded by way of the latest sale of two.125% convertible senior notes, due in 2031.
The corporate secured roughly $292.5 million from the sale of those notes. With the proceeds, Marathon Digital bought Bitcoin at a mean value of $59,000 per BTC, boosting its complete BTC reserves to 25,000 BTC.
Marathon Digital’s CEO, Fred Thiel, has emphasised the corporate’s dedication to a HODL technique. This newest buy aligns with their ongoing plan to build up and maintain Bitcoin as a strategic asset.
The senior notes provide an annual rate of interest of two.125% and could be transformed into money or Marathon Digital (MARA) inventory. The corporate additionally retains the choice to redeem the notes for money below particular circumstances.
Marathon Digital intends to make use of the remaining funds from the sale of the notes to amass extra Bitcoin and for normal company functions. These could embody strategic acquisitions, enlargement of property, and debt reimbursement.
A spokesperson from Marathon Digital said that Bitcoin is thought to be a premier strategic treasury asset. The corporate continues to implement a multifaceted technique for buying BTC, with the most recent buy including to their rising reserves.
MetaMask Launches Pilot Debit Card for Direct Crypto Funds
MetaMask has launched a pilot for its new debit card, permitting customers to make direct cryptocurrency funds from their MetaMask wallets wherever Mastercard is accepted. This modern card marks a big step in making crypto extra accessible for on a regular basis spending.
The MetaMask Card, developed in partnership with Mastercard and Baanx, allows customers to bypass conventional banking steps. As an alternative of changing crypto to fiat foreign money, customers can now spend their digital property instantly. This growth simplifies the method of utilizing cryptocurrency for real-world transactions, making it simpler for crypto holders to make use of their property for purchases.
Lorenzo Santos, Senior Product Supervisor at Consensys, highlighted the significance of this launch. He famous that the MetaMask Card reduces the friction between blockchain expertise and real-world commerce, providing a seamless expertise for customers.
The cardboard is supported by Mastercard’s world service provider community, guaranteeing safe and environment friendly transactions. It operates on the Linea community, secured by Ethereum, and integrates with MetaMask’s sturdy safety features. Simon Jones, Baanx’s Chief Business Officer, expressed pleasure concerning the collaboration, emphasizing the cardboard’s position in empowering customers to take management of their funds.
At the moment, the MetaMask Card is accessible to a choose group of customers within the European Union and the UK. These customers can arrange their accounts by way of the Crypto Life platform, which helps a number of cryptocurrencies like USDC, USDT, and WETH. The cardboard additionally integrates with Apple Pay and Google Pay, providing added comfort for digital funds.
This text isn’t supposed to supply monetary recommendation. Digital property are dangerous. You’ll want to do your personal analysis and seek the advice of your monetary advisor earlier than investing.
