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Drama erupts around the Waves blockchain project and trading firm Alameda

Over the weekend, a spat broke out between Sasha Ivanov, founder of the Waves blockchain, and trading firm Alameda Research.  Ivanov is alleging underhand dealings, while Alameda seems to imply that it’s simply been taking advantage of high funding rates to make some money. But irrespective of what actually happened, the dispute has led to a controversial proposal within the Waves blockchain community — one designed to hurt Alameda but that could also have a big impact on anyone who trades …

DeFiance Capital rescues $13.3 million at risk of being stolen

It’s been a bad week for DeFiance Capital.  On Tuesday, it was reported that DeFiance Capital founder Arthur Cheong fell foul to a phishing attack by clicking a malicious link in an email. His personal crypto wallet was compromised, losing $1.7 million in NFTs and cryptocurrency. What wasn’t reported is that a second wallet was also compromised, initially losing more than 200,000 Lido tokens ($720,000) of money belonging to the firm. And worse: it contained a further 3.7 million of …

Hacker steals $200,000 through Multichain bug, offers to return 80%

The ongoing exploitation of the cross-chain protocol Multichain has now totaled $3 million, according to ZenGo co-founder Tal Be’ery. A bug in the protocol is being exploited by multiple blockchain wallets, with either one hacker or many behind the attacks. One of the hackers, who has stolen $200,000 through this bug, has offered some remorse. They claim to be a whitehat hacker and have offered to return 80% of the funds that they took. This hacker said in a blockchain …

Twitch co-founder’s Fractal NFT project gets hijacked — $154,000 stolen

Quick Take Ahead of the project’s launch, a bot used for its Discord channel was hacked. The perpetrator put a link to a fake NFT site, which sucked money from unsuspecting users. Usually when an NFT project drops, the one safe space is the announcements channel — it’s the only place (except perhaps the FAQ) to look for the official website to mint the NFTs. Only in this case, it was a false friend. Ahead of the launch of the …

Figment raises $110 million in middle of crypto staking boom

Staking provider Figment has raised $110 million in a Series C funding round, with a $1.4 billion post-money valuation. This comes at a time when crypto staking firms are raking in the cash, due to the boom in prices for staking-based coins. The funding round was led by private equity firm Thoma Bravo, which manages more than $91 billion in assets and has started building a growth investing business aimed at crypto and fintech. Other participants include Morgan Stanley’s Counterpoint …

Crypto exchange AscendEX hacked for $78 million in latest swindle

Quick Take Crypto exchange AscendEX has said that its hot wallet was breached. Security researchers PeckShield estimate the losses at $77.7 million. Crypto exchange AscendEX — formerly known as BitMax — has been hacked for an estimated $77.7 million. That’s according to the exchange, which acknowledged the hack, and security researchers PeckShield who have estimated its losses. “We have detected a number of ERC-20, BSC, and Polygon tokens transferred from our hot wallet. Cold Wallet is NOT affected. Investigation underway. …

Crypto staking businesses are making an absolute fortune

Quick Take Since the beginning of the year, money has flooded into proof-of-stake blockchains, propelling their values up. As a result, big staking businesses are seeing up to $10 million in monthly revenue — with lower costs than bitcoin miners. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

OlympusDAO mistake lets user spend $50,000 to buy $1.43 million in OHM

A mistake enabled someone to spend $50,000 to receive $1.43 million of olympus (OHM) tokens when they should have received far less, according to an update in the OlympusDAO Discord. “Earlier today someone bonded an OHM/DAI bond that was presumed to be closed off. This enabled the user to have a substantial discount resulting in the user receiving 1697 ohm instead of 59 ohm. After this occurred, we took immediate action and the bond contract has been shut down in …