Web3 Daily | Multichain suspends service, may have lost MPC multisig control; Vitalik: Ordinals revive Bitcoin's 'builder culture'.
Top News:
1. New Fire Technology Researcher: Multichain may have lost MPC multisignature control, and the attacker is not an ordinary hacker;
2. The FBI searched the former CEO of Kraken's residence in March of this year.
3. Korean media: Do Kwon's personal wallet transferred 18.73 million USDC on July 3rd.
4. Vitalik: Ordinals revived the "builder culture" of Bitcoin;
5. OpenSea's former policy director resigned in April, and the team underwent a small-scale restructuring in May.
Project Updates
黄立成在 ApeCoin DAO 提交 AIP 想法，建议收购 BAYC 等 NFT 赠给博物馆和进行全球巡展
Translation:Huang Licheng submitted an AIP proposal to ApeCoin DAO, proposing that the DAO acquire BAYC, MAYC, BAKC, Punks, and other famous NFT artworks, and donate some of the NFTs to museums around the world. The main collection will be kept by the DAO for a global tour. He advocates that he and other fashion leaders, as well as the community, decide how to select and manage NFTs.
According to CoinDesk, there has been a significant amount of abnormal outflows of tokens from multiple cross-chain bridge contracts in the Multichain cross-chain routing protocol, including almost all of the held assets in wBTC, USDC, USDT, and a few altcoins in the Multichain-Fantom bridge, with a total value of over $130 million. Michael Kong, CEO of the Fantom Foundation, stated that an investigation is currently underway.
In addition, the Moonriver bridge contract of Multichain has experienced a token outflow of $6.8 million, with almost all wBTC, USDT, USDC, and DAI flowing to the address starting with 0x48BeAD. A Dogecoin bridge address confirmed to be Mulitchain has seen an outflow of over 600,000 USDC.
At least $20 million worth of altcoins, including DAI, LINK, and USDT, have been transferred from the Multichain Fantom bridge to the address starting with 0x9d57. Other transferred assets include 1,023 wBTC (approximately $30.9 million), 7,214 wETH (approximately $13.6 million), and $57 million USDC.
The cross-chain routing protocol Multichain posted on social media that "the locked assets on its MPC address have been abnormally moved to an unknown address. The team is not yet clear about the specific situation and is currently investigating. It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain."
Previously, there were numerous abnormal outflows of tokens from multiple cross-chain bridge contracts in Multichain, including almost all of the held assets in wBTC, USDC, USDT, and a few altcoins in the Fantom bridge, with a total value of over $130 million. Michael Kong, CEO of the Fantom Foundation, stated that an investigation is currently underway.
The founder of Polkadot, Gavin Wood, spoke at the Polkadot Decoded conference, stating that Polkadot may cancel the parallel chain auction and shift to an application-centric model. He proposed a new perspective on Polkadot: no longer limited to existing parallel chains and relay chains, but focused on the more fundamental resources needed for blockchain - computing cores (nuclei), viewing Polkadot as a multi-core computer. The time on these cores is called "core time" and can be sold regularly.
Gavin explained that Polkadot's goal is not just about chains, but about space and the underlying resources needed for chains. He emphasized that Polkadot is a platform for builders to create applications and for users to use them. Essentially, it is not a platform for hosting blockchains. Chains are just one way to make Polkadot useful, but may not be the only way. Overall, Polkadot is a resilient, versatile, and continuous computing provider.
New Fire Technology announced that it has signed a share subscription agreement with Du Jun and On Chain (controlled by Zhong Gengfa). Du Jun's total subscription price is HKD 155 million, accounting for 24.18% of the issued shares, and On Chain's total subscription price is HKD 171 million, accounting for 26.64% of the issued shares, totaling HKD 326 million, and will be paid in cash upon the fulfillment of the preconditions.
Zhao Changpeng responded to the report by Fortune regarding the departure of several executives from Binance, stating that "the reasons given in the news for some of the FUD about departures are completely wrong. With the changes in the cryptocurrency market and global environment, as well as the development of Binance and personal circumstances, there is personnel movement in every company. Binance will continue to BUILD and continue to recruit. Thank you to all former team members for their contributions to Binance's growth, and we wish them all the best."
BlockBeats previously reported that, according to sources cited by Fortune, three Binance executives resigned this week, including Binance's General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President of Compliance Steven Christie. The reasons for these high-level departures may be in response to the Department of Justice's investigation into CZ and Binance.
The vote on updating the background metadata of Azuki Elementals will begin on July 8th.
NFT project Azuki announced that the vote on updating the Elementals background metadata will begin at 6:00 on July 8th. "The art team proposed a subtle domain background with a slight color shift to address potential changes. Even if the voting results do not lead to changes in the background metadata of the Elementals series, the domain background will still be available for chain-off equipment in collectors' profiles."
Binance NFT market will launch Playbux Ultra NFT collection through subscription mechanism
According to an official announcement, the Binance NFT market has launched the Playbux Ultra NFT collection through a Subscription Mechanism. The collection consists of 3000 Playbux Ultra NFTs, and its release will follow the BNB prerequisite. From 08:00 on July 10th to 10:00 on July 12th (Beijing time), users who hold a minimum of 0.1 BNB per day can participate in the initial sale of the Playbux Ultra NFT series.Threads has attracted over 30 million registered users on its first day of launch.
Mark Zuckerberg, CEO of Meta, posted on Threads that since its launch on Wednesday evening, Threads has attracted over 30 million registered users. Zuckerberg also engaged with many users on Threads about the future development of the platform.
When asked if Threads will have a larger scale than Twitter, Zuckerberg said, "This will take some time, but I think there should be a public communication application with over 1 billion users. Twitter had the opportunity to do this, but they haven't done it yet. I hope we can."
Threads can now be downloaded in over 100 countries and regions, including the United States and the United Kingdom. However, due to privacy regulations, the app is not yet available for download in the European Union. Nevertheless, Meta has stated that the company is seeking to bring Threads to the EU market.
The native USDT issued on the Kava network has been launched.
According to official sources, the native USDT issued on the Kava network is now online. The native USDT is being issued on over 60 Cosmos application chains. As previously reported by BlockBeats, on June 21st, Tether announced the launch of native USDT on the Kava network.According to The Information, Loni Mahanta, who previously served as the policy director of OpenSea, resigned in April of this year. Currently, OpenSea is searching for a new senior policy and government affairs director. The OpenSea team also underwent a small-scale restructuring in May, resulting in approximately 10 employees leaving the company.
NFT perpetual contract trading platform nftperp announced the closure of v1 closed beta and will soon launch v2 paper trading. nftperp stated that the trading volume of v1 closed beta reached 280,000 ETH, and the reason for closing v1 was that the vAMM model of v1 could not be scaled. In addition, due to some errors in the team's liquidation logic and accounting, nftperp has accumulated bad debts, so the team has decided to intervene and provide support.
nftperp said that all users' collateral (WETH) will be returned soon, so no user will lose their initial deposit/collateral. For all users with negative unrealized profit and loss, their unrealized losses will be waived. For all users with positive unrealized profit and loss, they will receive a refund of their collateral and a portion of their unrealized profit and loss based on their share in the VNFTP token.
According to Bloomberg, Japanese gaming giant Sega is temporarily withdrawing from the blockchain gaming industry. Co-CEO and COO Hajime Satomi, who is responsible for operations, stated that Sega will not use its most important series for third-party blockchain gaming projects to avoid devaluing its content. He also added that, at least for now, the company has shelved plans to develop its own games in this category.
However, Shuji Utsumi, a practitioner in the encryption industry, stated that Sega will still offer its lesser-known series of works to several blockchain games that will be announced later this year, and will continue to invest in related projects - with investment amounts reaching hundreds of millions of yen for each project. He stated that the technology is still useful, for example, it can allow characters and items to be transferred between different games. In the long run, Sega is still willing to participate more deeply when this technology matures.
NFT battle game blockchain Capverse will officially launch on July 7th
BlockBeats News, on July 6th, according to official sources, blockchain game Capverse will officially launch on July 7th. Capverse is an NFT battle mobile game released by Hong Kong-based company Blissful Link. After multiple rounds of testing, the game's server environment, gameplay, and stability have been fully verified.
Unlike other blockchain games, Capverse has added a WeChat+Visa fiat payment gateway on top of encrypted payments, greatly reducing the entry barrier for traditional gamers.
Viewpoint
New Fire Technology researcher 0xLoki posted on social media that Multichain may have lost control of MPC multi-signature address assets due to some force majeure, rather than simply being attacked.
He pointed out that there are four characteristics of abnormal fund flow in Multichain:
- The duration of asset transfer is very long, indicating that the transferor is not in a hurry;
- A small amount of 2USDC was tested before the asset transfer, indicating that the transferor has sustainable transfer ability;
- Each type of asset is transferred to an independent wallet, and there is no further action afterwards (such as transfer to a trading platform, Swap, or mixer);
- The receiving wallet is completely clean, without even Gas.
Based on the above characteristics, he deduced that:
- The transferor has sufficient time. Considering the technical characteristics of MPC, the transferor is likely to have gained complete control over more than the threshold of private key fragments in some way;
- The "attack method" is very simple, just a simple transfer operation, without contracts or testing. The attacker is most likely not a hacker;
- The transferor did not take further disposal and realization, and the operator may not have absolute decision-making power.
摩根大通：美 SEC 若批准现货比特币 ETF 也不太可能改变加密货币市场的游戏规则
Translation: According to a report by CoinDesk, JPMorgan (JPM) stated in a research report on Thursday that the approval of a Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) will not change the rules of the cryptocurrency market for various reasons. Analyst Nikolaos Panigirtzoglou believes that although spot Bitcoin ETFs have existed for some time in countries outside the US, such as Canada and Europe, they have failed to attract significant investor interest.BitMEX founder Arthur Hayes wrote that Bitcoin will become the preferred currency of artificial intelligence (AI). Hayes proposed that Bitcoin's digitization, censorship resistance, store of value, scarcity, and longevity make it an ideal choice for AI.
He further speculated that if AI begins to use Bitcoin, we may see the convergence of two fanaticisms into one super-fanaticism: on the one hand, people want to escape inflation in the legal financial system; on the other hand, people want to own a part of the next stage of human and computer evolution. The overlap of these two frenzies could lead to overpayment by investors, causing the value of the Bitcoin network to skyrocket to absurd levels.
Bloomberg analyst James Seyffart shared a picture on Twitter, listing key time points in the review process for Bitcoin spot ETFs that have already submitted 19b-4 applications, including:
1. The next deadline for the US SEC's decision on the ARK 21Shares Bitcoin ETF application is August 13, 2023, with a final deadline of December 27, 2024.
2. The next deadline for the SEC's decision on the iShares Bitcoin Trust application is September 2, 2023, with a final deadline of March 15, 2024.
3. The next deadline for the SEC's decision on the Bitwise Bitcoin ETP Trust application is September 1, 2023, with a final deadline of March 14, 2024.
4. The next deadline for the US SEC to make a decision on the applications of VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Fidelity's Wise Origin Bitcoin Trust is September 3, 2023, with a final deadline of March 16, 2024.
5. The next deadline for the SEC to make a decision on Valkyrie Bitcoin Fund's application is September 6, 2023, with a final deadline of March 19, 2024.
Barnbridge DAO is under a non-public investigation by the US SEC
The legal advisor of BarnBridge DAO, Douglas Park, stated that the Securities and Exchange Commission (SEC) of the United States is investigating Barnbridge DAO and its related personnel regarding the risk grading derivative product agreement and legal elections. Due to the ongoing and non-public nature of the SEC's investigation, information sharing is limited. To reduce potential legal liability, it is recommended to take the following measures:
- Close existing liquidity pools;
- Do not launch new liquidity pools;
- All product development related to Barnbridge should stop;
- Until further notice, individuals should not receive compensation for any work related to Barnbridge.
Vitalik: Ordinals revived the "builder culture" of Bitcoin
According to Cointelegraph, Vitalik Buterin, co-founder of Ethereum, said in a Twitter Space that Ordinals has revived the "builder culture" of Bitcoin. Buterin praised Ordinals and the BRC20 standard, which he believes is a rejection of the "stagnant" policies in the Bitcoin ecosystem.
In addition, regarding the discussion that the Bitcoin Lightning Network cannot scale for future users, Vitalik said that the best approach is to focus on implementing different types of Layer 2 solutions while looking for ways to make the Bitcoin base layer more efficient.
数据
translates to
Data
in English.
派盾：Multichain 漏洞利用损失约 1.26 亿美元
Translation: According to the monitoring data of PShield, assets worth approximately $118 million have been transferred out of Multichain's Fantom bridge. This includes tokens worth approximately $16 million (DAI, LINK, and USDT) sent to address 0x9d57. Other transfers involve approximately $27.6 million USDT and $30 million USDC, sent to addresses 0x027F and 0xefeef, respectively.
In addition, 1,023 wBTC (approximately $30.9 million) was moved to address 0x622e5, and 7,214 wETH (approximately $13.6 million) was sent to address 0x418e. Another cryptocurrency worth approximately $7.5 million was transferred out of Multichain's Moonriver bridge and moved to address 0x48Be.
OMNISWAP NFT floor price breaks 299USDT, with a 24-hour increase of over 290%According to Binance NFT data, the "OmniSwap Genesis NFTs" series NFT floor price launched by OMNISWAP has exceeded 299 USDT and is currently trading at 299.52 USDT, with a 24-hour increase of over 290%. OMNI NFT is a series of NFTs launched by OMNISWAP. Users holding OMNI NFTs will enjoy a range of rights and services. Currently, OMNI NFTs have been listed on Binance NFT and OpenSea, and will be gradually listed on more mainstream NFT platforms in the future.
meme.eth domain name was sold for 42.069 ETH
According to OpenSea page data, the meme.eth domain name was sold for 42.069 ETH (approximately $77,000 USD).韩媒：Do Kwon's personal wallet transferred 18.73 million USDC on July 3rd
According to Digital Asset, Do Kwon, the CEO of Terraform Labs, transferred all of his 18.73 million USDC held in his personal Ethereum wallet address to an anonymous address on July 3. The anonymous address appears to have been created recently, with the first transaction taking place on July 3.
From July 3 to 5, the anonymous address exchanged these 18.73 million USDC for other tokens such as WBTC, ETH, stETH, and DAI through DEXs such as Uniswap. Currently, the address still holds 2.01 million USDC and 923 stETH, while the rest of the assets have been sent to another anonymous wallet address and other DeFi projects.
Industry insiders say that Do Kwon's accomplice who has not yet been arrested seems to be attempting to cash out on a large scale.
BlockBeats previously reported that 5292 BTC held by Do Kwon was transferred to a new address on July 3rd from the LFG wallet.
Funding
Regulation
美 FBI 已于今年 3 月搜查 Kraken 前 CEO 的住所
Translation:The FBI searched the former CEO of Kraken's residence in March of this year.
According to The New York Times, the Federal Bureau of Investigation (FBI) searched the home of Jesse Powell, the former CEO of Kraken, in March of this year as part of an investigation into his alleged hacking and cyberstalking of a non-profit arts organization. Federal agents from the FBI and the Northern District of California's U.S. Attorney's Office have been investigating Powell since at least last fall.
According to sources familiar with the matter, the non-profit organization claims that Powell interfered with its computer accounts, including blocking access to email and other information.
The agent searched Powell's residence in Brentwood, Los Angeles and took away his electronic devices.
The prosecutor has not charged Powell with any crimes. Powell is the co-founder of the cryptocurrency exchange Kraken and resigned as CEO at the end of last year, but will continue to serve as chairman of the board. A Kraken spokesperson said that the investigation is unrelated to the company and there is no reason to believe that the authorities are investigating other potential issues.
The Deputy Governor of the Reserve Bank of India, Sankar, stated that he hopes to introduce CBDC in a moderate and adjusted manner. (Jin10)
Welcome to join the official community of BlockBeats by Lu Dong
Telegram subscription group: https://t.me/theblockbeats
Telegram communication group: https://t.me/theblockbeatsApp
Twitter official account: https://twitter.com/BlockBeatsAsia
Welcome to join the official BlockBeats community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Official Twitter Account: https://twitter.com/BlockBeatsAsia
Related Articles
