Mr. White Hat received an invitation from Poly Network developers to join the team as a security lead, while the expert detected a vulnerability in SushiSwap that could have resulted in a $350 million hack. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍Axie Infinity governance token continues to grow and marks a new all-time high. This Tuesday, Axie Infinity's AXS token reached a new value of $80,76 per unit. AXS' monthly growth exceeds 260% while since November of last year, this token has appreciated by more than 54.000%.
Bitcoin and Blockchain Adoption
📍Real estate lending company United Wholesale Mortgage plans to accept bitcoins by the end of the year. According to the company through a statement shared on Twitter, payments with bitcoins and other cryptocurrencies, could arrive later this year to meet the growing demands of their clients to pay their mortgages using cryptocurrencies.
📍European electronic music festival The Untold Festival to receive cryptocurrency in partnership with Elrond Network. Beniamin Mincu, CEO of Elrond Network, reported that, thanks to a partnership with the music festival organizers, attendees will be able to purchase their tickets by paying with the network's EGLD cryptocurrency. In addition, the collaboration between the two will give all Untold attendees the opportunity to create and experience a special, unmissable "NFT moment." After the event, the company will place the tickets on the platform. NFTs within the Maiar marketplace platform so attendees can claim and save them as part of “their everlasting digital collection of life’s important moments.”
Cybersecurity
📍Poly Network invites Mr. White Hat to join their team as a Security Leader. The story of the biggest hack in DeFi takes a new turn when the protocol developers invite the hacker to join their team as a senior security advisor. The news was given by Poly Network through a publication update on the status of the protocol, cybersecurity work and the process of returning funds.
The developers expressed that they have no objections to Mr. White Hat's use of the $500.000 bounty funds, while cordially inviting them to join the team. They also stressed the need to recover the funds in order to refund the money to the users affected during the exploit last week.
📍Paradigm partner Samczsun has reported a security vulnerability detected in MISO, the launchpad for SushiSwap's new tokens. According to explained According to the researcher, MISO may have allowed the theft of at least $350 million worth of ether during the launch of the BitDAO token due to the security flaw discovered on the launchpad. MISO apparently had potential issues in its smart contract that a hacker could have exploited to drain all the ether deposited in it.
Samczsun said he was reviewing the MISO contract before the launch of BitDAO tokens, so he was able to detect and alert developers about the vulnerability in time. In addition to being able to steal ether funds, the detected bug could also allow an attacker to participate in the BitDAO token offering for free, the expert noted.
📍T-Mobile suffers security exploit, hacker sells stolen files for 6 bitcoins. the telecommunication company reported that it had been the victim of a security breach that allowed a hacker to access company data, without offering further details. However, the T-Mobile hacker is offering the files on the dark web for 6 bitcoins, worth approximately $270.000 at the time of this writing. According to reveals According to Vice, the hacker has personal data on about 30 million users, although T-Mobile has not confirmed whether the data is real.
Miners and Validators
📍Foundry USA and SBI Crypto mined bitcoin blocks consecutively. In the case of Foundry USA, the crypto mining company of Digital Currency Group, it managed to mine 4 blocks on the bitcoin network in a row, while the SBI Crypto mining pool managed to mine 3 blocks in a row on the network. Foundry USA and SBI Crypto occupy the 4th and 12th place among the bitcoin mining pools with the highest hash power, according to data from BTC.com.
Rules and Regulations
📍In Spain, the National Securities Market Commission has issued a warning about the operations of 12 unregulated cryptocurrency exchanges. The authority mentioned ByBit, DSDAQ Market LTD, Expertise Trader LTD, Financial Resident, Huobi, Liberty Sky LTD, Prisma Global LTD, Markets EUFX, N2 Group Corporation Limited, among others, as cryptocurrency financial entities not registered with the Commission.
📍Rating agency Fitch Ratings says insurers will face operational risks from El Salvador's Bitcoin Law. According to the international agency, local insurers could compromise their operations by working with bitcoin, due to the high volatility of the cryptocurrency in the markets. Fitch Ratings assures that the implementation of the Bitcoin Law is a “negative credit for insurers” in the country.
📍The US State Department will use bitcoins to reward dark web informants about cyberattacks on the country. According to reportage According to CNN, the US State Department, the body in charge of foreign policy and international relations, is offering a $10 million reward program for informants of cyberattacks or other digital crimes organized on the dark web against the nation.
The US State Department unveiled its bounty program during the Black Hat cyber conference in Las Vegas, Nevada, last week. Hackers and cybersecurity experts who came to the event could access free Wi-Fi, or scan QR codes on their t-shirts and other merchandise, to access the department's bounty program.
The agency reportedly plans to use seized bitcoins and other cryptocurrencies to pay undercover informants. If seized crypto assets are used for this purpose, the agency's bounty program would be giving legitimate use to bitcoins and other digital assets criticized by some regulators as only serving to finance illicit activities.
Continue reading: Cryptocurrencies: Solana with new high and Dogecoin as the “strongest crypto” lead the Top 10
