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PSP is the governance token for ParaSwap with the aim to provide a decentralized exchange aggregator that is decentralized and market efficient.
Weekly Roundup
Hackers From North Korea Seen as Culprits in the DeBridge Finance Cyberattack, Defi Protocol Curve.Finance Hacked and $570K Stolen, and Binance Recovers 83% Of Stolen Funds
Hackers from North Korea have reportedly found a new victim, in the form of DeBridge Finance, which is a cross-chain interoperability and liquidity transfer protocol based on multiple sources.
The attempted cyberattack likely originated from the notorious North Korean hacking syndicate, Lazarus Group, based on DeBridge's initial assessment. Several DeBridge team members received a fake email containing a PDF file, which was titled "New Salary Adjustments," that was reportedly sent by the co-founder Alex Smirnov.
When we look at the DeFi Protocol Curve.Finance, however, hackers stole $570,000 from it. Shortly after, the protocol's operators announced through Telegram that they had found the source of the issue and fixed it.
Changpeng Zhao, or CZ, who is the founder of the largest cryptocurrency exchange, Binance, took to Twitter and announced that the exchange had managed to recover $450,000 of the stolen funds.
U.S. Treasury Sanctioned Notorious Virtual Currency Mixer Tornado Cash
Tornado Cash, which is a popular cryptocurrency service that lets users mask their transactions, got sanctioned by the U.S. Treasury Department after North Korean hackers relied on it to launder illicit gains.
Tornado Cash Post Ban Update: Tornado deleted their discord. The DAO has been shut down. And the lead dev has been arrested.
The platform facilitates anonymous transactions through a procedure of mixing funds from different sources prior to transmitting them to the ultimate beneficiary. Tornado Cash has been utilized to launder more than $7 billion in virtual currency, according to a senior Treasury official.
Chinese Internet Regulators Shut Down 12,000 Accounts, and 105 and Huobi Founder Aims to Sell Majority Stake
Website platforms such as Weibo and Baidu have shut down 12,000 illegal accounts and over 105 websites that have been involved with crypto mining and trading. These websites were advocating virtual currency marketing, publishing, and even pushing explainers surrounding cross-border speculation and even virtual currency mining.
Leon Li, who is the founder of the cryptocurrency exchange Huobi, held preliminary talks with investors surrounding the topic of selling his majority shale within the company, which would put the exchange's value at a minimum of $3 billion and his stake at $1 billion.
Ethereum's Third and Final Testnet Went Live, Circle & Tether Say They Will Support Ethereum Proof-Of-Stake Transition, and Binance showcase support for "The Merge."
Ethereum Completed the “Merge” on Its Final Testnet Goerli, one of the most anticipated upgrades to the Ethereum (ETH) blockchain.
Ethereum developer Marius van der Wijden revealed that the developers had finalized the Merge on Goerli, and once the upgrade goes live on the mainnet, it will switch Ethereum from the Proof-of-Work (PoW) consensus mechanism to the Proof-of-Stake (PoS) consensus mechanism.
Stablecoin giants, including Circle and Tether, announced that they would support Ethereum's Merge. Circle published its blog post on August 9, 2022, followed by Tether.
The support did not stop there, as Binance also made an announcement titled "Notice Regarding the Upcoming Ethereum Merge," where they said that Binance would support "The Merge."
BlackRock Launched Spot Bitcoin (BTC) Private Trust for Clients in the U.S.
BlackRock is the world's biggest asset managed and, on August 11, announced the launch of a spot Bitcoin (BTC) trading private trust for institutional clients in the United States
This trust will essentially track the performance of Bitcoin and offer clients direct exposure to the price of the digital currency. "Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets." the company announced.
Thanks for reading
James