Headlines

▌The DeFi Protocol Lodestar Finance Was Attacked and Plans to Negotiate With Hackers to Recover More Funds

Lodestar Finance, an Arbitrum-based DeFi protocol, tweeted that the protocol was exploited by hackers, deposits were exhausted, and the team had set all interest rates to 0. The attacker manipulated the exchange rate of the plvGLP contract to 1.83 GLP/plvGLP to make a profit, and destroyed more than 3 million GLP. The attacker's profit from exploiting this vulnerability is the stolen funds on Lodestar minus the GLPs it destroyed, of which 2.8 million GLPs are recoverable, worth about $2.4 million. Lodestar Finance will attempt to contact the hackers to negotiate whether they can recover more funds by offering a bug bounty.

▌FTX's Stranded Client Funds Have Attracted the Attention of Non-Performing Asset Investors

The credit investment company hopes to buy creditor’s rights from FTX clients, otherwise they may have to wait for several years to recover the funds. Agreeing to sell the creditor’s rights means accepting huge losses, and the creditor’s rights are sold at face value in US dollars. Apollo Global Management and Attestor are among the high-profile investors who have held talks about buying the debt, according to a person familiar with the matter. Niche investment firm 507 Capital has purchased several claims from hedge funds looking to exit FTX quickly. Spokespeople for Apollo and Attestor declined to comment. 507 Capital founder Thomas Brazilel said fund managers mostly want to get out so they can move on without having to deal with the court process.

Cryptocurrency

▌Binance: Abnormal Price Changes of Multiple Trading Pairs, the Team Is Investigating

Binance stated on Twitter that it has noticed that some trading pairs have experienced abnormal price changes on Binance, involving assets such as SUN, ARDR, OSMO, FUN, and GLM. The team is investigating suspicious accounts and taking appropriate actions. According to Binance, this activity does not appear to be due to compromised accounts or stolen API keys, and funds are currently safe.

▌CZ: Abnormal Changes in Asset Prices Seem to Be Just Market Behavior

Binance CEO CZ posted on social media, “According to our current investigation, this seems to be just a market behavior. One person deposits funds and starts buying (hackers do not deposit money). Others follow Buying. I can’t see that there is a relationship between the accounts.” Previously reported, Binance said that assets such as SUN, ARDR, OSMO, FUN, and GLM had abnormal price changes, and the team was investigating.

▌CZ: Binance Has Suspended the Withdrawal of Some Accounts That Are Profitable in the Abnormal Fluctuation of Asset Prices

Binance CEO CZ posted on social media, "Binance has temporarily locked the withdrawal of some profitable accounts, which has caused many complaints from different countries on social media. We know that the platform cannot intervene too much, can lead to 'too centralized' attacks. But there is a balance of how much intervention is needed. Sometimes, this happens in a free market, and we need to make it work." Previously reported, Binance said SUN, ARDR, OSMO, FUN. There are abnormal price changes in assets such as GLM and GLM, and the team is investigating.

▌Crypto. Com Releases Proof of Reserves

Crypto.com, trusted by more than 70 million customers world-wide and the industry leader in regulatory compliance, security and privacy certifications, released its audited Proof of Reserves on 9 December, enabling users to verify that their crypto assets are fully backed (1:1) on our platform. The verification was conducted by Mazars Group, a leading international audit, tax and advisory firm employing more than 44,000 professionals in more than 90 countries. This independent third-party audited report performed under ISRS 4400 as set forth by the International Auditing and Assurance Standards Board (IAASB) used advanced cryptographic procedures to confirm the availability and backing of our customer balances.

▌Terra Founder Do Kwon Is Currently Based in Serbia, and the South Korean MOJ Is Asking the Serbian Government to Cooperate in the Investigation

It was reported on the 11th that Kwon Do-hyung (31), CEO of Terraform Labs, who caused the so-called “Luna incident” in which domestic and foreign investors suffered more than 50 trillion won in damages due to the collapse in the prices of virtual currencies Luna and Terra in May, is staying in Serbia. Terraform Labs is the company that issued Luna and Terra. An official from the investigation authorities said, "Recently, we obtained intelligence that CEO Kwon was in Serbia, and it was found to be true." The Seoul Southern District Prosecutor's Office's Financial and Securities Crime Unit obtained an arrest warrant for Kwon on charges of providing false information to investors in September, and Interpol also issued a 'red wanted', the highest level of wanted arrest and repatriation. have.

▌Sam Bankman-Fried Secretly Funded Crypto News Site 'the Block

Axios reported that a prominent crypto news site, The Block, was secretly funded by former CEO of FTX, Sam Bankman-Fried. Furthermore, the developing story has now led to the resignation of The Block CEO, Michael McCaffrey. A media company that prided itself on its unbiased and independent coverage has just been revealed to have been funded by one of crypto’s most infamous names. Sources have disclosed to Axios that Alameda Research funded as much as $40 million.