Selected News:

1. Prime Trust lost $6 million of client funds and $2 million of its own funds due to investing in Terra.

2. The first NFT series issued by Trump has seen a floor price increase to 0.193ETH, with a 41% increase within the day.

3.FTX: Bankruptcy claim agent Kroll was attacked, and some non-sensitive customer data was leaked.

4. Shield: Magnate Finance developer modified the agreement and removed all assets provided by the oracle.

5. Xiao Feng: The Hong Kong Securities and Futures Commission may issue an STO regulatory circular by the end of this year;

6. The founder of PEPE was exposed for purchasing luxury cars with profits but failing to pay original copyright taxes.

Project Updates

Prime Trust suffered a loss of $6 million in client funds and $2 million in its own funds due to investing in Terra.

According to CoinDesk, legal documents show that Jor Law, CEO of cryptocurrency custody firm Prime Trust, stated that Prime Trust lost $6 million in customer funds and $2 million in its own funds in the investment of the Terra algorithmic stablecoin. In addition, Jor Law also mentioned that in January 2021, due to incorrect instructions to customers to send funds to an inaccessible wallet, $76 million was spent on purchasing ETH to meet user withdrawal requests.

TOPGOAL announced a strategic partnership with Chiliz and Binance Fan Token at the Hong Kong Cyberport Summit to jointly create a new chapter in digital football.

According to official sources, TOPGOAL successfully held a themed summit focused on the integration of sports, gaming, and Web3 technology at the Hong Kong Cyberport. The summit invited industry leaders such as Chiliz and Binance, legendary football star Eto'o, and representatives from the Hong Kong government to explore the vast potential of Web3 in the field of sports and entertainment.

BlockFi: Users are warned to be cautious of fraudulent information due to the data breach of bankruptcy claim agent Kroll

The bankrupt cryptocurrency lending platform BlockFi stated on its social media platform that the attack on its bankruptcy claim agent Kroll also led to the leakage of some customer data of BlockFi, but BlockFi's internal systems and customer funds were not affected. Users are reminded to upgrade their security measures and be wary of scams such as phishing emails.

Connext: Corrected the issue of some transactions not being included in the airdrop, and offered a reward to the community for reporting the witch's address.

Layer2 interoperability protocol Connext announced on its social platform that after careful review of user feedback, the team confirmed that some transactions were not included in the previous airdrop plan. The team has now corrected the airdrop distribution and increased the total size of the airdrop to ensure that the current distribution will not decrease. In addition, Connext has invited the community to help the team screen for witch addresses. If the witch hunter's report successfully reports the witch attacker/address, the reporter will receive 25% of the recovered NEXT as a reward.

OP Mainnet sorter will be upgraded on August 29th, and is expected to be shut down for five minutes

Optimism announced that it will upgrade the OP Mainnet sorter at 1:00 on August 29th Beijing time to achieve zero downtime deployment. It is expected that there will be a five-minute downtime for the OP Mainnet at that time.

FTX: Bankruptcy claims agent Kroll attacked, some non-sensitive customer data leaked

FTX announced on its official social media platform that bankruptcy claims agent Kroll experienced a cybersecurity incident, which led to the leakage of non-sensitive customer data of some claimants in pending bankruptcy cases. Kroll is directly notifying affected individuals to be vigilant against phishing emails, while FTX's own system is not affected by this incident.

PEPE founder's identity exposed, profits from buying luxury cars but fails to pay original copyright tax

CryptoPhunks, NFT market Not Larva Labs founder PAULY revealed the identity of PEPE team members. The founder of PEPE is American landscape photographer Zachary Testa, born in 1997 and graduated from Arizona State University with a degree in marketing in 2018. He has a record of breaking the law in multiple wilderness areas, sacred indigenous areas, and other areas where drones are prohibited. PAULY has helped the PEPE team connect with the Binance listing team and Sushi team members. Zachary used PEPE's income to buy a purple Lamborghini worth $865,000, but his team did not pay any copyright fees to Pepe the Frog's original creator Matt_Furie.

The US Drug Enforcement Administration suffered zero-transfer phishing attacks, losing more than $50,000.

According to a search warrant reviewed by Forbes, the US Drug Enforcement Administration (DEA) seized over $500,000 worth of USDT from two Binance accounts in May of this year, suspecting that these accounts were used to transport illegal drug profits. These funds were stored in a wallet based on Trezor hardware and held in an account controlled by the DEA.

friend.tech has supported users to send photos to "Key" holders.

Web3 social application friend.tech now supports users sending photos to their "Key" holders.

Tornado Cash co-founder Roman Storm has been released on bail.

Tornado Cash co-founder Roman Storm's lawyer, Brian Klein, said that Roman Storm has been granted bail. Klein expressed disappointment with the prosecutor's charges against Roman Storm for helping to develop software, stating that their novel legal theory has a dangerous impact on all software developers.

PEPE multi-signature wallet threshold changed from 5/8 to 2/8, over 16 trillion PEPE transferred to CEX

According to monitoring by encryption KOL CryptoNoddy, the PEPE multi-signature wallet has changed its threshold from 5/8 to only 2/8. This means that it no longer requires 5 out of 8 wallets to sign a transaction, but only 2 out of 8 wallets.

超 90% 山寨币持有者处于亏损状态

超 90% of the holders of counterfeit coins are in a state of loss.

The encrypted intelligence platform IntoTheBlock released data showing that over 90% of the holders of altcoins are in a state of loss, and the voting results show that the performance of DeFi tokens is better. The mainstream DeFi tokens are Compound (COMP), 0x Protocol (ZRX), Uniswap (UNI), AAVE, and Maker (MKR). Among them, MKR is the token with the smallest change in investor profitability. Specifically, it identifies MKR as the most profitable asset for holders for most of the year. Only 52.36% of MKR holders are in a state of loss. Similarly, UNI and AAVE investors in a state of loss account for 71.93% and 76.35% of holders, respectively.

ARK Invest and 21Shares jointly submit two Ethereum futures ETF applications

Bloomberg's senior ETF analyst James Seyffart wrote that ARK Invest and 21Shares have jointly submitted two Ethereum futures ETF applications, one of which is an Ethereum futures ETF with the code ARKZ, and the other is a Bitcoin + Ethereum futures ETF with the code ARKY.

Viewpoint

派盾：Magnate Finance developers modify agreement, oracle provider and remove all assetsAccording to the monitoring of PShield, the provider of the prophecy machine for Magnate Finance, a developer, has removed all assets from the protocol. Currently, Magnate Finance's TVL is only $107,000.

ZachXBT: Magnate Finance website cannot be accessed normally, Telegram group has been deleted

The on-chain detective ZachXBT posted on social media that the website and social media platform of Magnate Finance are currently inaccessible. Its Telegram group has been deleted. According to BlockBeats, ZachXBT, the on-chain detective, stated that, following community reminders, the Base ecological lending protocol Magnate Finance may soon be involved in an exit scam due to its direct association with the Solfire exit scam. Currently, its TVL exceeds $6.4 million.

Delphi Digital: Base becomes the fastest L2 to reach 100,000 daily active users, taking only 56 days

Delphi Digital stated on its social media platform that Coinbase L2 Base has become the fastest L2 to reach 100,000 daily active users, achieving this milestone in just 56 days after its launch on the mainnet.

Data

Curve: crvUSD borrowing amount hits a new all-time high

Curve has announced on social media that the total amount of crvUSD loans has reached a new all-time high. Data shows that the current total supply of crvUSD is 125 million, with a total loan amount of 109 million.

Data: DWF Labs transferred 10 million FET from Binance 30 minutes ago, worth about $2.016 million.

According to Spot On Chain, DWF Labs transferred 10 million FET, worth approximately $201.6 million, from Binance 30 minutes ago. Currently, DWF Labs is the 21st largest holder of FET tokens.

Tether Transparency Report: Total Assets Reach $86.1 Billion, Reserve Ratio Exceeds 100%According to a report by Cointelegraph, Tether's transparency report shows that Tether currently has a liquidity buffer reserve of nearly $3.3 billion. As of August 24th, Tether's total assets were $86.1 billion, total liabilities were $82.8 billion, and the reserve ratio was over 100%.

Data: A whale spent 320 ETH to buy 6400 billion PEP 3 hours ago.

According to Lookonchain monitoring, a whale bought 640 billion PEPE (valued at $529,000) using 320 ETH 3 hours ago. It is understood that the whale purchased 500 billion PEPE using 280 ETH ($507,000) on June 5th, and 164 billion PEPE using 253 ETH ($481,000) on May 5th. The average purchase price is $0.000001163.

Data: A certain whale transferred 3.6 million SAND to Binance 16 hours ago, worth about $1.16 million.

According to Spot On Chain monitoring, a certain whale address "0x53e" (presumably a SAND investor) transferred 3.6 million SAND tokens to Binance 16 hours ago, worth about $1.16 million. It is understood that the whale has transferred a total of 34 million SAND tokens to the trading platform, accounting for 90% of its holdings, and currently still holds 3.6 million SAND tokens.

Bitwise Report: Uniswap Spot Trading Volume Exceeds Coinbase for Two Consecutive QuartersAccording to data shared by Ryan Rasmussen, a researcher at Bitwise, a cryptocurrency asset management company, Uniswap processed approximately $110 billion worth of spot trades in the second quarter, while Coinbase processed around $90 billion in trades. In the previous quarter, Uniswap's spot trading volume also surpassed that of Coinbase. (The Defiant)

Bitcoin volatility index rose to 45.62 yesterday, with a daily increase of 3.4%.

The BitVol (Bitcoin Volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 45.62 yesterday, up 3.4% from August 23.

friend.tech "Keys" price ranking: founder Racer ranks first with 2.57 ETH

friend.tech "Keys" price ranking latest data shows: · Platform founder Racer ranks first with 2.57 ETH; · Cryptocurrency trader L ranks second with 2.40 ETH; · Cryptocurrency KOL Hsaka ranks third with 1.68 ETH; · NDV co-founder Christian2022.mid ranks fourth with 1.60 ETH; · Cryptocurrency KOL Cobie ranks fifth with 1.58 ETH in price ranking.

Nansen: The total daily sales and active wallet numbers of NFTs have both been declining over the past 3 months.

Nansen data shows that the total NFT trading volume has decreased by 49% this month, to 223,000 ETH, equivalent to approximately 367 million US dollars. Over the past three months, the daily total sales and daily active wallet numbers of NFTs have both shown a downward trend. The Nansen NFT-500 index has fallen by 56% so far this year.

The first NFT series issued by Trump has seen a 41% increase in floor price to 0.193 ETH within a day.

According to OpenSea data, the first NFT series issued by former US President Trump, "Donald Trump Digital Trading Card," saw its floor price rise to 0.193ETH and a 41% increase in intraday gains, as well as a 258% increase in trading volume, after he returned to Twitter today and tweeted about it.

Beosin: Magnate Finance deployer has stolen a total of $16.7 million through multiple Rug Pulls

According to Beosin Alert monitoring, the address that deployed Magnate Finance is related to the Rug Pull incidents of Solfire and Kokomo Finance. The scammer stole a total of 16.7 million US dollars. Today, Magnate Finance experienced a Rug Pull and stole 6.5 million US dollars. On January 23, 2022, Solfire experienced a Rug Pull and stole 4.8 million US dollars. On March 27, 2023, Kokomo Finance experienced a Rug Pull and stole 5.5 million US dollars.

Funding

Cryptocurrency trading platform BitOasis completes new round of financing, with participation from Jump Capital and othersAccording to Bloomberg, BitOasis, a cryptocurrency trading platform in the Middle East and North Africa, has completed a new round of financing. The specific transaction terms and valuation have not been disclosed. This round of financing was participated by Indian cryptocurrency trading platform CoinDCX, existing investor Wamda Capital, and Jump Capital.

Regulation

肖风：香港证监会或将于今年底发布 STO 监管通函

Translation:

Xiao Feng: Hong Kong Securities and Futures Commission may issue STO regulatory circular by the end of this year

HashKey Group Chairman Xiao Feng spoke at the "Hong Kong Cryptocurrency Summer Forum" and stated that there is still a lot of room for improvement in Hong Kong's existing regulatory rules and laws. He believes that there will be continuous improvement in the future. Currently, there are still many regulations that have not been promulgated, such as STO (Security Token Offering). At the end of this year, the Hong Kong Securities and Futures Commission will issue a regulatory circular on STO. Cryptocurrency (or virtual assets) should support Hong Kong's real economy and technological innovation, and STO is a very important aspect. Promoting STO financing for technology companies can establish a relationship between cryptocurrency and the real economy, as well as Hong Kong's innovative technology. The Hong Kong Securities and Futures Commission can clarify the rules in the regulatory circular, so that the industry can know how to finance through tokenization. (Meta Era)

Hong Kong Monetary Authority: Studying the establishment of regulatory framework for Digital Currency or Stablecoin in Cyberport

According to the report from Hong Kong Radio Television Network, the Hong Kong Monetary Authority stated that it is studying the establishment of a regulatory framework for the Digital Currency of Cyberport or Stablecoin, as well as promoting the application of Distributed Ledger Technology (DLT) in the industry, tokenizing bank deposits, and will hold a seminar with the industry next quarter to introduce DLT technology. Ngan Ka-hung, Deputy Chief Executive of the Monetary Authority, said that there is no timetable for promoting the tokenization of deposits, nor will it require all banks to follow suit. The process is not related to the research of Cyberport, and the two will proceed in parallel. Chen Jinghong, Assistant Chief Executive of Banking Supervision, said that he hopes that DLT technology can be more widely used in the future, such as reducing the transaction time for issuing bonds to T+1. He also admitted that the DLT platform still faces limitations such as whether the technology is mature enough and whether the stability is sufficient. Further research is needed in the future, but when the technology is mature, there will be opportunities to expand to the tokenization of securities, buildings, and mortgage products. (Jin10)

Hong Kong-listed company Shengli Securities launches virtual asset trading application

According to the report from "Sing Tao Daily", Hong Kong-listed company Victory Securities has launched a virtual asset trading application, which is currently available for download on Google Play Store and APK. The company stated that in the first phase, this app will allow professional investors to experience the security and convenience brought by the virtual asset trading platform provided by licensed institutions. In the future, there will be more functions and the possibility of integrating securities trading. Executive Director Chen Peiquan said that the company has launched the first virtual asset trading app, allowing mainstream cryptocurrencies such as Bitcoin to be traded without time or geographical restrictions. It is expected that in the near future, compliant virtual asset trading will also be available for retail investors, and the company will play a role in the virtual asset field.

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