CryptoSlate Wrapped Daily: Wintermute hacked of $160M, SEC claim jurisdiction over Ethereum transactions

2 years ago

The biggest quality successful the cryptoverse for Sept 20 includes Wintermute losing $160 cardinal to DeFi cognition hack, Ethereum developer confirming that Shanghai upgrade volition not unlock staked ETH, Experts arguing that SEC cannot assertion jurisdiction implicit Ethereum transactions, MicroStrategy buys an further 301 Bitcoin for $6 million.

CryptoSlate Top Stories

Wintermute reveals $160M hack successful DeFi operations

A hacker attacked astir 90 crypto assets belonging to starring marketplace shaper Wintermute. The firm’s DeFi cognition mislaid implicit $160 cardinal to the incident.

Wintermute’s CEO Evgeny Gaevoy said that market-making funds are safe, arsenic the CeFi and OTC operations were not affected by the hack.

Ethereum vanity code exploit whitethorn beryllium origin of Wintermute hack

Blockchain information steadfast Certik confirmed claims by the Ethereum assemblage that a vanity code exploit could beryllium the basal origin of the Wintermute attack.

#CertiKSkynetAlert

Here is what we cognize truthful acold from the @wintermute_t exploit

We person recorded that $162,509,665 person been stolen.

The exploit is apt owed to a brute unit onslaught connected Profanity wallet compromising a backstage key.

Stay vigilant! pic.twitter.com/zVRd3e5TbS

— CertiK Alert (@CertiKAlert) September 20, 2022

1nch contributor k06a noted that since Wintermute’s code had 7 starring 0’s, it whitethorn person taken lone 50 days to brute unit hack the code utilizing a 1,000 GPU mining rig.

Ethereum developer confirms Shanghai upgrade volition not unlock staked tokens

In a chat with CryptoSlate, Ethereum developer Micah Zoltu affirmed that the Shanghai upgrade volition not alteration the withdrawal of staked ETH tokens, but volition absorption connected reducing state fee.

Zoltu added that determination is nary specified timeline for enabling withdrawal, arsenic Ethereum halfway devs are yet to sermon the modalities to unlock staked ETH.

Experts reason SEC cannot assertion jurisdiction implicit Ethereum transactions

Etherenodes data shows that astir 43% of Ethereum validator nodes run from the U.S. As a result, the SEC is laying claims that Ethereum transactions happened successful its jurisdiction.

Crypto experts person differed with the SEC connected the contented stating that it is an unacceptable precedent that the crypto assemblage has to combat against.

Voyager urges Alameda Research to repay $200M loan

Back successful July, Alameda Research said it was blessed to instrumentality its indebtedness and retrieve its collateral “whenever works for Voyager.”

The appointed clip is here, arsenic Voyager has filed a question requesting Alameda to repay its $200 cardinal loan. Voyager besides agreed to merchandise Alameda’s $160 cardinal collateral.

Vitalik Buterin argues that highly decentralized DAOs volition beryllium much businesslike than corporations

Vitalik has argued that decentralized autonomous organizations (DAOs) volition beryllium much businesslike than accepted corporations if they support the ethos of decentralization portion incorporating elements from corporations.

To plan an effectual DAO, Vitalik projected that protocols should larn however to marque decisions successful a timely mode from corporations and look up to governmental sovereigns erstwhile designing their succession system.

MicroStrategy buys further 301 Bitcoin for $6M

Michael Saylor-led MicroStrategy has topped its plus holding by purchasing 301 Bitcoin, astatine the outgo of $6 million.

So far, MicroStrategy has amassed a full of 130,000 BTC and plans to inject up to $500 cardinal to bargain more.

U.S. Treasury requests nationalist remark connected curbing crypto-related crimes

The Treasury has called connected the nationalist to supply feedback that volition usher its attack successful drafting a regulatory measure aimed astatine curbing illicit financing perpetrated utilizing cryptocurrencies.

The Treasury is besides unfastened to learning however it tin use blockchain analytics tools to amended its AML/CFT compliance process.

Crypto promoter Ian Balina labels SEC complaint ‘frivolous,’ turns down settlement

The SEC filed a lawsuit against Ian Balian for promoting the SPRK token successful 2018. The committee classified the tokens arsenic an unregistered security, stating that Balina unduly formed an concern excavation to resale the token.

Balina said that helium declined to settee with the SEC for what helium considers a “frivolous’ charge.

Research Highlight

State of Ethereum derivatives marketplace post-Merge

CryptoSlate analyzed Ethereum’s futures perpetual backing complaint and unfastened involvement to uncover that though speculations astir the Merge are over, investors are consenting to spell long.

According to the backing complaint data, ETH traders were paying up astir 1,200% to abbreviated Ethereum, which saw ETH diminution implicit 20% implicit the past 7 days.

Ethereum Futures Perpetual Funding Rate

As of property time, the inclination is reversing, suggesting that short-term speculation is over, and traders are looking to reinvest.

News from astir the Cryptoverse

Robinhood brings USDC to its users

USDC was listed contiguous arsenic the archetypal stablecoin connected Robinhood’s banal trading platform. The determination indicates the company’s committedness to expanding its crypto trading concern model.

Crypto Market

In the past 24 hours, Bitcoin declined beneath the $19k enactment level to beryllium astatine $18,913, signaling a alteration of -3.19%. Over the aforesaid period, Ethereum declined by -3.95%, to commercialized astatine $1,324.