Poly Network was hacked over the weekend, falling victim to an attacker that used the interoperability platform to issue billions of tokens out of thin air. The attacker found a vulnerability in Poly Network’s cross-chain bridge tool that apparently allowed them to create massive amounts of tokens that “did not exist before,” said 3z3 Labs founder Arhat on Twitter. Acknowledging…
Illustration by Mitchell Preffer for Decrypt It was a relatively quiet week in the cryptoverse. The most significant bit of adoption news came from Buckingham Palace on Thursday when British King Charles signed his assent to a reform bill that now recognizes crypto trading as a regulated activity. Similarly, European parliamentarians announced their own crypto-focused regulatory reforms. These were hardly…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG Ubisoft was one of the first major traditional game publishers to begin playing with blockchain tech years ago, and the creator of Assassin’s Creed and Just Dance has continued to explore the space despite gamer backlash. Now the studio has revealed its next Web3 game. Champions Tactics: Grimoria Chronicles,…
Speaking with Cointelegraph at the Collision conference in Toronto, crypto veteran Yat Siu outlined how crypto firms can cope with unique environments, stressin… Source: https://cointelegraph.com/app/public/index.php/news/crypto-vc-is-struggling-only-from-a-north-american-perspective-animoca-brands-ceo
Binance, the world’s largest crypto exchange, has conducted its 11th batch of the Terra Classic (LUNC) burn mechanism, resulting in the burning of 2.65 billion LUNC tokens. The total LUNC tokens burned by Binance now exceed 35.5 billion, while the community’s burn surpasses 68 billion. Traders have reacted positively to the burn, leading to a 3% increase in LUNC price.…
The task force will advise on the “sustainable and responsible” development of Web3 in Hong Kong, according to the statement. Source: https://cointelegraph.com/app/public/index.php/news/hong-kong-establishes-task-force-web3-development
Ethereum co-founder Vitalik Buterin stated that he does not stake all of his Ethereum (ETH) due to multisignature (multisig) wallets being “complicated in a bunch of ways.” On the 29 June episode of the Bankless Podcast, titled Restaking Alignment, Buterin revealed the “biggest reason” why he is only staking a small amount of his Ethereum. “Because if you stake your…
Bittrex, a cryptocurrency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This…
The task force will advise on the “sustainable and responsible” development of Web3 in Hong Kong, according to the statement. Source: https://cointelegraph.com/public/index.php/news/hong-kong-establishes-task-force-web3-development
As part of Hong Kong’s ongoing commitment to embrace the “megatrend” of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region. According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to…
