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BEEPLE Twitter account hacked to share Louis Vuitton phishing link

The Twitter account of graphic artist Mike Winkelmann, also known as BEEPLE, was hacked today to promote a crypto scam. His account was hacked to share a fake link ostensibly to a website of a collaboration with fashion designer Louis Vuitton. Harry.ETH, a security researcher from MetaMask/MyCrypto, tweeted that “Beeple’s Twitter account has been compromised (ATO) to post a phishing website to steal funds.” It appeared that the victims had lost 35 ETH today, so far, valued at about $71,000. …

Waning institutional demand is forcing high-yield crypto accounts to slash rates

The returns available on crypto holdings have fallen to their lowest levels in more than a year on some platforms as institutional demand to borrow recedes, diminishing one of the market’s most attractive selling points for smaller investors.  Crypto lending platforms such as BlockFi and Celsius have experienced staggering growth since 2020, attracting millions of customers by providing yields to individual investors that have ranged from a few percent to as high as 17%.  These platforms take deposited funds and …

Wormhole announces $10 million bug bounty payout

Crypto bridge Wormhole paid out a massive $10 million to a white hat hacker who disclosed a bug in its core bridge contract on Ethereum in February. That person goes by the pseudonym satya0x, per an announcement from Immunefi, which partnered with Wormhole in hosting its bug bounty platform. Wormhole announced the program back in February, shortly after losing close to $323 million in ETH to a hacker, in one of the largest exploits of a DeFi protocol to date. …

Ethereum’s main testnet set for proof-of-stake merge in early June

Ethereum’s main public testnet, Ropsten, is set to undergo “the merge” next month in one of the final preparations before the main Ethereum blockchain can switch to proof-of-stake consensus.  Parithosh Jayanthi, who works in devops at the Ethereum Foundation, merged the pull request on GitHub today, meaning that this code is set to be implemented. The merge is Ethereum’s long-awaited move to becoming a proof-of-stake blockchain, under which the current proof-of-work chain will merge with the new proof-of-stake one. It’s …

Coinbase, Figment back new institutional liquid staking protocol Alluvial

Coinbase and crypto staking firm Figment are supporting the development of a new liquid staking protocol aimed at institutional investors. Coinbase Cloud and Figment will serve as validators on the new Alluvial protocol, according to separate statements from Alluvial and Coinbase shared with The Block on Tuesday. Alluvial is being developed by a team led by three founders: Matt Leisinger, former head of liquid staking products at Figment; Nicolas Maurice, the former CTO of staking platform Kiln; and Mike Taormina, …

Australia’s first Bitcoin and Ethereum ETFs launched by Cboe Australia and ETF Securities

Australia’s first cryptocurrency exchange-traded funds met a muted reception in their debut on Thursday as global crypto markets were being battered by the collapse of two digital tokens. Securities and derivatives exchange Cboe Australia introduced the ETFS 21Shares Bitcoin ETF and the ETFS 21Shares Ethereum ETF, the first exchange traded funds to offer Australian investors direct, regulated exposure to the world’s biggest digital tokens by market capitalization, Bitcoin and Ethereum, it said in a statement. The Cosmos Purpose Bitcoin Access …

Crypto muggers in London target digital investors by taking phones: report

Thieves are targeting digital currency investors in a wave of “crypto muggings,” UK police said, with victims reporting big sums stolen after their mobile phones were seized, the Guardian reported today. Criminals are combining muscle with knowhow to part people from their cryptocurrency, according to City of London police. Crypto transfers are irreversible, unlike bank transfers, making the crime attractive to thieves. One victim was ordering an Uber when muggers forced him to hand over his phone. The gang returned …

Instagram to support NFTs from Ethereum, Polygon, Solana, Flow: report

Instagram, the social media platform owned by Meta, will support non-fungible tokens (NFTs) for crypto art from several major blockchain networks, with the announcement of a pilot coming as soon as Monday, CoinDesk reported today, without citing its source. Ethereum, Polygon, Solana and Flow, which host most of the trading in digital collectables, are in line for Instagram NFT integrations, CoinDesk said. Still, it added, it was unclear whether NFTs from all four chains would be supported in the launch. …

Crypto mining platform NiceHash says it developed workaround to Nvidia hash rate limiter

NiceHash, a cryptocurrency mining software company, tweeted on Saturday that its new software could fully unlock Nvidia’s light hashrate (LHR) mining limiter on some graphics cards for mining ethereum. Last May, computing hardware maker Nvidia reduced the possible hash rate production of its GeForce graphics cards to discourage their use for mining, The Block reported at the time. Prices for graphics cards have been on a steady decline since at least the beginning of the year. The problem was that …

An Updated Look at On-Chain Structured Product Protocols

May 6, 2022, 2:56PM EDT • 6 min read Quick take Composability continues to be the main differentiator between on-chain derivatives protocols and their centralized counterparts.  Use cases have been largely limited to vaults for automated option selling and basis trading.  As derivatives protocols continue to grow in sophistication, the design space for decentralized structured products also expands considerably and will be explored here. Join The Block Research for exclusive research like this Gain access to this research piece and …