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Web3 is going just great [English]

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Blur Finance rug pulls for over $600,000

 -  10 août - 

The yield aggregator Blur Finance rug pulled, taking more than $600,000 in assets from the BNB Chain and Polygon-based projects before deleting their website and social media accounts. The project had only been active for about a month, and had accumulated about 750 users on its original BNB Chain implementation, and on August 5 had announced their launch on Polygon. In the announcement, they (...)

 
 
 

Hotbit crypto exchange suspends trading due to criminal investigation

 -  10 août - 

The Hotbit cryptocurrency exchange abruptly announced they would be suspending services because they were under criminal investigation, and law enforcement had frozen some of their assets. Hotbit claims that the investigation pertains to a former employee who was involved in a "project" unbeknownst to Hotbit, which investigators believe was illegal. Hotbit urged that all customer funds were (...)

 
 
 

Nuri crypto exchange files for insolvency

 -  10 août - 

The German cryptocurrency exchange Nuri, formerly known as Bitwala, filed for insolvency. Interestingly, they did not stop customer withdrawals—as have many exchanges who later announced they were insolvent—allowing its existing users to continue to withdraw funds and otherwise use their services.Their announcement began by saying, "We would like to inform you about an important development (...)

 
 
 

CoinFLEX files for restructuring

 -  10 août - 

The cryptocurrency exchange CoinFLEX announced they had filed for restructuring, a move that probably didn't surprise too many people after they stopped customer withdrawals in June, sued Roger Ver over $84 million they claimed he owed them in July, and then significantly cut staff in order to try to massively reduce their costs.As tends to happen with insolvent exchanges, they are hoping to (...)

 
 
 

Curve Finance frontend compromised

 -  10 août - 

Curve Finance's frontend at curve.fi was compromised, prompting users to give token approval to a malicious smart contract. Stolen funds were then transferred out to the FixedFloat cryptocurrency exchange and the Tornado Cash tumbler. It appears that at least 362 ETH (~$620,000) have been stolen.Curve acknowledged the apparent exploit, tweeting at the iwantmyname domain platform to say they (...)

 
 
 

Truth in Advertising sends letters to 17 celebrities about undisclosed promotion of NFTs

 -  10 août - 

Non-profit advertising watchdog organization Truth in Advertising (TINA) sent letters to seventeen celebrities, urging them to follow FTC requirements on clearly disclosing when they are being paid to promote a brand. TINA had also previously sent such letters to Justin Bieber in relation to his promotion of the inBetweeners NFT project, and to Reese Witherspoon in relation to her endorsement (...)

 
 
 

Researchers identify an attack strategy actively being used by the second-largest Ethereum mining pool to earn outsized mining rewards

 -  9 août - 

Researchers from The Hebrew University have identified an attack on the consensus mechanism used by Ethereum which they describe as risk-free and which can used to "obtain consistently higher mining rewards compared to the honest protocol". They also identified that the attack was being actively used by F2Pool's Ethereum mining pool to attack other mining operations. F2Pool is the (...)

 
 
 

At least 101 NFT Discord servers compromised in July

 -  9 août - 

I've largely stopped covering crypto Discord compromises because they occur so frequently it would drown out everything else. OKHotshot has been keeping count, though, and according to them, at least 101 servers have been compromised in the month of July. Four of the projects—EY3KON, Tasty Bones, Universe by Barnabe, and Angry Dinos—were each compromised twice in that month. Tweet thread by (...)

 
 
 

"Animate your Bored Ape" scammers linked to more phishing attacks amounting to more than $2.5 million

 -  9 août - 

Crypto sleuth zachxbt has uncovered a French scam duo, Mathys and Camille, who he believes were behind the March "turn your BAYC animated" phishing scam in which they stole a collector's Bored Ape NFT and flipped it for 264 ETH (at the time worth $764,000). He has also tied them to four other Bored Ape holders who fell victim to fake "animator" phishing schemes that also stole pricey NFTs (...)

 
 
 

Brand new Dragoma "move-to-earn" game rug pulls for around $3.5 million

 -  8 août - 

The Polygon-based Dragoma app promised to be a new move-to-earn game, the term for a category of web3 apps that promise to reward people in tokens when they exercise. This particular app promised to be a dragon-themed "adventure game" where users could hatch dragon eggs by walking 500 meters a day (about 1/3 of a mile) for 40 days.The project launched only days before it rug pulled. On (...)

 
 

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