LianGuai Daily | Binance.US lays off one-third of its employees; Hong Kong Securities and Futures Commission warns that JPEX is an unregulated virtual trading platform.

Binance.US lays off employees; HK Securities and Futures Commission warns about unregulated JPEX.

Today’s News Highlights:

OneCoin Co-founder Sentenced to 20 Years in Prison and Fined $300 Million

Hong Kong Securities and Futures Commission Warns of Unregulated Virtual Trading Platform JPEX

Binance.US Lays Off One Third of Its Employees, CEO Brian Shroder Resigns and Is Temporarily Replaced by CLO

• Full Name Exploring the Path of Future On-chain Identity Layer Construction
• LianGuai Daily | LianGuai Launches Cryptocurrency to USD Exchange Service; MakerDAO Protocol RWA Total Assets Reach $2.613 Billion
• Cryptocurrency Track Weekly Report [2023/09/11] ETH Staking Rate Rises, Layer2 TVL Declines

MetaMask Launches Snaps Feature, Will Be Compatible with Non-EVM Blockchains

TON Foundation Launches Self-Custodial Cryptocurrency Wallet TON SLianGuaice for Telegram Users

Kasikornbank of Thailand Launches $100 Million Flagship Fund KXVC, Will Invest in Web3, AI, and other Fields

opBNB Mainnet Officially Launched, Enjin Blockchain Also Officially Launched

Beosin: CoinEx Exchange’s Losses Currently Amount to at Least $53 Million

Regulatory News

OneCoin Co-founder Sentenced to 20 Years in Prison and Fined $300 Million

According to The Block, the United States Southern District of New York’s Office of the Attorney General announced in a statement that OneCoin co-founder Karl Sebastian Greenwood has been sentenced to 20 years in prison and fined $300 million for defrauding 3.5 million investors and using the proceeds to purchase five-star resorts, private planes, and yachts.

US Attorney Damian Williams stated in the declaration, “As a co-founder and leader of OneCoin, Karl Sebastian Greenwood executed one of the largest fraud schemes in history. Greenwood and his accomplices, including fugitive Ruja Ignatova, deceived unsuspecting victims, causing them to lose billions of dollars. They promised to achieve a ‘financial revolution’ and claimed that OneCoin would be the ‘Bitcoin killer,’ while OneCoin was worth nothing.”

OneCoin was founded by Ruja Ignatova in 2014 and has been under investigation in the United States and the United Kingdom since 2016. Several countries have since been attempting to arrest the perpetrators of the fraud. Last June, OneCoin co-founder Ruja Ignatova was listed on the FBI’s top ten most wanted list.

SEC Files Lawsuit Against Market-Making Giant Virtu Financial, Accusing It of Misleading Clients on Information Security

According to Reuters, the US Securities and Exchange Commission (SEC) filed a lawsuit on Tuesday in Manhattan federal court against high-frequency trading market-maker Virtu Financial, accusing it of making significant false and misleading statements and omissions regarding information barriers to prevent the abuse of sensitive client information.

In the complaint, the SEC stated that Virtu Financial repeatedly misrepresented to clients that it used “information barriers” and “systemic isolation between business groups” to protect their material non-public information, when in fact, from January 2018 to April 2019, “anyone” could access sensitive client information and trading information of its subsidiary Virtu Americas using ordinary usernames and passwords. The leaked information included clients’ detailed identity information as well as the names, prices, and quantities of securities they bought and sold. The lawsuit seeks civil fines against Virtu Financial, recovery of ill-gotten gains, and an injunction against further violations.

It is reported that Virtu Financial has stated its market-making activities on major cryptocurrency exchanges and participated in the $50 million Series A financing of Hidden Road LianGuairtners, a digital asset and forex brokerage company. In September last year, Virtu Financial, together with giants such as JPMorgan and Fidelity, launched the cryptocurrency exchange EDX Markets (EDXM).

Hong Kong’s Securities and Futures Commission warns: JPEX is an unregulated virtual trading platform

The Hong Kong Securities and Futures Commission issued a notice on its official website, stating that it has noticed a virtual asset trading platform called “JPEX” actively promoting its services and products to the Hong Kong public through social media influencers and over-the-counter virtual asset currency exchange operators. The commission clarified that none of the entities under the JPEX group has been licensed by the commission, nor have they applied for a license to operate a virtual asset trading platform in Hong Kong.

NFT

The dispute among members of the parent company team of Milady escalated, with both sides vying for control of the project and accusing each other of misappropriation of funds.

A statement was released by @Milady_Sonoro X, claiming to be a co-founder, administrator, and manager of the parent company Remilia: “Founder Charlotte Fang is spreading false narratives unrelated to reality, attempting to preempt legal review and publicly disclose his own misconduct and misappropriation of Remilia’s collective funds. Three weeks ago, we wrote to Charles (X account is Charlotte Fang), trying to get him to acknowledge that we are co-founders, provide us with the equity we deserve in the collective, and demand that he return all funds withdrawn from the treasury. In response to our letter, Charles filed a lawsuit, mistakenly referring to us as ‘independent contractors’ and ‘terrorists,’ without attaching a contract or evidence contradicting our claims with numerous information we obtained from him. We welcome the opportunity to resolve this dispute in court.”

The statement clarified: “1. Remilia has always been a collective. The limited liability company created by Krishna unilaterally in Delaware does not own the collective’s assets and was established without the knowledge or support of other co-founders. 2. We are co-founders, executives, board members, and equity holders, with signed contracts, text messages, phone records, and other evidence to prove it. 3. Bonkler’s treasury has not been stolen, and the funds have always been (and will continue to be) securely held by the auction contract controlled by Ccccaa, which was approved prior to the founding of Remilia. 4. Upon discovering that Charles had unauthorizedly removed other funds from the collective treasury, we demanded that he return the $600,000 assets in the collective treasury’s multi-signature account that he transferred to his personal account. However, he removed all other co-founders of Remilia from the multi-signature account, and after his public posts and lawsuits were filed, he took out a total of $2.6 million worth of digital assets.”

Charlotte Fang responded, “Remilia has no co-founder, Remilia has no co-founder. From the beginning, I held sole control over the funds and operations. Prior to establishing the limited liability company, I had sole control over the assets used to fund Remilia’s operations and they were directly rewarded from the funds under my control through agreements reached with me. The core team working on Milady and Remilio received revenue sharing and joined the company in regular positions to continue working, and these individuals have never engaged in equity negotiations at that time or at any time. This lawsuit is a result of the seizure of company assets by five parties before transferring all of Remilia’s stablecoins and NFT treasury to an entity controlled equally by the parties. They threatened to publicly expose and refused to comply with the injunction or participate in private arbitration. I took action to freeze Bonkler to protect the interests of the community. The developer has no right to retain ownership of the Bonkler contract. Jimbo did receive an intent letter from a co-founder, but he declined at that time.”

Yesterday, Milady founder Charlotte Fang stated that a Milady developer seized the codebase and misappropriated $1 million from the Bonkler treasury.

Project Updates

Binance.US lays off one third of its employees, CEO Brian Shroder resigns and is temporarily replaced by the CLO

According to Bloomberg, a Binance.US spokesperson stated that the company’s CEO Brian Shroder has resigned and is temporarily replaced by Chief Legal Officer Norman Reed. The company is reducing its workforce by approximately one third, or more than 100 positions, due to a series of increasingly challenging legal and operational issues.

The spokesperson for Binance.US said, “The action we took today provides Binance.US with an opportunity to develop financial services for more than seven years, enabling us to continue serving customers while operating as a pure cryptocurrency exchange. The U.S. Securities and Exchange Commission is attempting to weaken our industry and has had a real impact on our business, with unfortunate consequences for U.S. employment and innovation.”

Coinbase to list VeChain (VET) and VeThor (VTHO)

According to an official tweet, Coinbase announced that it will list VeChain (VET) and VeThor (VTHO). If liquidity conditions are met, trading will begin on or after September 14 at 0:30 Beijing time. If sufficient supply of the assets is established, trading pairs for VET-USD and VTHO-USD will be phased in.

Note: Coinbase only supports the above two cryptocurrencies on the VeChain network. Do not send these assets on other networks, as funds may be lost. Coinbase does not support any VTHO network payments to VET holders on the platform. Users who wish to receive these network payments should hold VET in a wallet that supports VTHO payments.

MetaMask launches Snaps feature, will be able to work with non-EVM blockchains

MetaMask has announced the launch of its new feature, Snaps, aimed at expanding its usage on blockchain networks that are incompatible with the Ethereum Virtual Machine (EVM) itself. Snaps are software modules that can be integrated with MetaMask, allowing the wallet to be used across different blockchains, including Cosmos, Solana, and Starknet. MetaMask has collaborated with over 150 developers to expand the development of Snaps.

Later news, the MetaMask Snap public beta now includes 34 applications.

Hashdex has submitted an application for the Ethereum ETF.

According to Bloomberg analyst James Seyffart, cryptocurrency asset management company Hashdex has applied for the Hashdex Nasdaq Ethereum ETF.

Celsius will suspend the lawsuit against the former CEO and other former executives.

The official committee of unsecured creditors of Celsius tweeted that this morning, an agreement was reached between Celsius debtors, the official committee of unsecured creditors, and the US Attorney’s Office to suspend the lawsuit against former Celsius CEO Alex Mashinsky and other former Celsius executives, while continuing with Mashinsky’s criminal trial. The federal prosecutors have requested that the official committee of unsecured creditors agree to the suspension of the litigation process to avoid any potential interference with Mashinsky’s criminal trial. The US Attorney’s Office has agreed to coordinate with the litigation trustee on the issue of asset recovery in the criminal case. The official committee of unsecured creditors of Celsius supports the swift enforcement and will return any recovered funds to account holders.

Vesta Finance tokens surged 150% due to two co-founders initiating an “angry exit” proposal.

According to DL News, DeFi lending protocol Vesta Finance is experiencing a leadership crisis, with two of the project’s three co-founders, James “Atum” Peterson and Midnight, submitting an “angry exit” proposal on the governance forum to leave the project. “Angry exit” refers to the practice of liquidating project funds (in whole or in part) and distributing them to investors. In the proposal, they expressed disappointment with the lack of progress in the project and requested $1.68 million in compensation as a settlement. They believe that by disassociating from the current parties and providing compensation, friction caused by differences in opinions and ideas can be eliminated, and the removed founders can be fully compensated for their significant contributions.

The other co-founder and CEO, Mikey Milken, opposes their departure and proposes an alternative settlement plan to “acquire Atum and Midnight’s shares,” stating that this will not jeopardize the protocol upgrade plan. Milken stated that any forward-moving proposal needs to consider the interests of all stakeholders who are still interested in the project’s future progress while allowing disinterested parties to leave. Milken also raised concerns about the regulatory aspects associated with a complete exit. He stated that VSTA is a utility token that does not give holders the right to make claims against the project treasury. However, not everyone shares this view. Some investors, including early supporters of the project, have called for an “angry exit.” Vesta’s major investor, Ogle, believes that “an angry exit is the best outcome for investors at the moment. It will be difficult to recover from all of this.” Several DAO members are also strongly demanding an “angry exit,” which is seen as the “best solution” for all parties involved.

According to reports, Vesta Finance is a DeFi lending protocol on the Arbitrum blockchain, with a total locked value of $11.61 million. The project’s treasury holds $10 million in encrypted assets. On-chain data shows that although conflicts have led to a split in the Vesta community, some opportunistic investors are pouring into the project’s native token VSTA to obtain a share of the treasury funds. Since the dispute began, the price of VSTA has risen by over 150% (the current market value of the token is approximately $6.97 million).

LianGuaintera Capital shifts investment strategy to evaluate mid-stage cryptocurrency companies

According to Bloomberg, LianGuaintera Capital’s Managing Partner, LianGuaiul Veradttakit, stated in an interview in Singapore: “The biggest change in the company’s investment strategy is a greater willingness to evaluate mid-stage cryptocurrency companies, with B and C rounds of financing experiencing greater valuation declines than early-stage investments. Currently, a significant portion of our investable areas are outside of the United States.” Veradttakit expects that the flow of funds outside of seed-stage projects will remain slow for about the next year.

According to the company’s website, LianGuaintera Capital manages $3.3 billion in assets and approximately 100 venture capital investments, with 47% of the invested capital located outside of the United States. Veradttakit stated that about 40% of the portfolio companies are not US-based, and the number of such companies may increase. Over time, with the establishment of the infrastructure required for cryptocurrency and blockchain technology, he expects a significant increase in the number of entrepreneurs and applications from Asia.

Binance Margin will delist 20 BUSD-related cross and isolated margin trading pairs

According to an official announcement, Binance Margin will remove the ALICE/BUSD, ANKR/BUSD, AVA/BUSD, BICO/BUSD, CLV/BUSD, COTI/BUSD, DAR/BUSD, DEGO/BUSD, GLM/BUSD, IMX/BUSD, KP3R/BUSD, KSM/BUSD, LRC/BUSD, MDX/BUSD, MKR/BUSD, POLYX/BUSD, SLP/BUSD, WAXP/BUSD, XTZ/BUSD, ZIL/BUSD cross and isolated margin trading pairs on September 21st at 14:00.

In addition, Binance will also delist trading pairs such as AMB/BUSD, ASTR/BUSD on September 15th

Specifically: September 15, 2023, 11:00 (Beijing time): AMB/BUSD, ASTR/BUSD, BAT/ETH, DASH/BUSD, GMX/BUSD, HOT/BUSD; September 15, 2023, 13:00 (Beijing time): IMX/BNB, KNC/BNB, MC/BUSD, MDT/BUSD, NULS/BUSD, RAD/BUSD, RAY/BUSD, REQ/BUSD; September 15, 2023, 15:00 (Beijing time): SSV/BUSD, STMX/BUSD, TROY/BUSD, WOO/BUSD.

Coinbase CEO reiterates decision to integrate Lightning Network, but needs some time

Coinbase CEO Brian Armstrong responded to a netizen on X platform, stating: “The decision to integrate the Lightning Network has already been made. Bitcoin is the most important asset in the cryptocurrency space, and we are excited to contribute our part in achieving faster/cheaper Bitcoin transactions. The integration will take some time, so please be patient.”

Block.one’s cryptocurrency exchange Bullish plans to apply for a license in Hong Kong

According to Bloomberg, Tom Farley, CEO of Bullish, a cryptocurrency exchange owned by Block.one, said that as part of its international expansion efforts, the exchange plans to apply for a license in Hong Kong. Farley revealed that the company has 260 employees worldwide, with 110 in Hong Kong, about 75 in the United States, 40 in Singapore, and several dozen in Gibraltar. Farley said, “We are applying for a license in Hong Kong. We have had an exchange there for four years, and it is our largest office.”

According to the company’s website, Bullish exchange is registered in Gibraltar and currently does not offer services in the United States, Canada, mainland China, Japan, Israel, and Russia.

BitMEX launches its first batch of prediction market contracts, including “SBF’s fate” and “the future of Bitcoin ETF”

According to the official blog, cryptocurrency exchange BitMEX announced the launch of a prediction market, which is a type of cryptocurrency derivative that allows traders to predict the outcome of various real-life events, industries, and other subjects and take positions. The first batch of contracts available for trading includes the following predictions: FTX bankruptcy application (product: P_FTXZ26), the future of Bitcoin ETF (product: P_XBTETF), and the fate of FTX founder Sam Bankman-Fried (product: P_SBFJAILZ26).

Fortress founder: The company has lost over $10 million in the recent security incident and has compensated affected users

According to Fortune magazine, Scott Purcell, founder and CEO of cryptocurrency custodial company Fortress Trust, said that the company lost between $12 million and $15 million worth of cryptocurrencies in a recent hack, mostly in Bitcoin, but a small amount of USDC and USDT stablecoins were also stolen. The company immediately made up for this loss, and “only four customers out of 225,000 were truly affected.” Purcell emphasized repeatedly that the security vulnerability was the fault of a third-party vendor, not Fortress Trust or its custodial partners Fireblocks or BitGo.

A spokesperson for Ripple declined to comment on the severity of the security vulnerability but stated that “the amount of customer funds used for payment has been included in the transaction.” The Block previously reported that as part of an acquisition deal, Ripple has fully compensated the affected Fortress customers of the security incident. Ripple’s spokesperson stated that the acquisition process has accelerated after this security incident. However, as of the announcement of the acquisition deal, neither Ripple nor Fortress Trust has disclosed that Ripple has agreed to include the customers as part of the transaction.

It is reported that in a statement released on September 7 on the X platform, Fortress stated that its customers were affected by a “third-party vendor whose cloud tools were compromised,” but no funds were lost. On September 8, Ripple announced the acquisition of Fortress. Ripple provided funding for this acquisition through a combination of cash and equity but did not disclose the valuation.

The TON Foundation has launched a self-custody encrypted wallet called TON SLianGuaice for Telegram users.

According to Decrypt, the TON Foundation announced its partnership with Telegram on Wednesday, launching the self-custody encrypted wallet TON SLianGuaice for the platform’s approximately 800 million users. Additionally, the foundation stated that projects built on TON will have priority access to Telegram Ads, the messaging application’s advertising platform.

A spokesperson for TON stated that the wallet functionality is currently available in the settings of Telegram and will be rolled out globally in November, “excluding the United States and some other countries.”

FTX modifies asset sale proposal to address US government concerns, but still claims no need for advance trading notice

According to CoinDesk, cryptocurrency exchange FTX has modified its proposal to sell billions of dollars worth of crypto assets in order to address concerns raised in a filing by the US Department of Justice bankruptcy trustee on Tuesday. Under the proposal, FTX still claims that it does not need to provide advance trading notice, citing potential significant market impact caused by cryptocurrency trading.

The US bankruptcy trustee initially opposed FTX’s plan, stating that any intent to sell Bitcoin or Ethereum should be widely disclosed to allow others the opportunity to object. As a compromise, FTX agreed to allow the US bankruptcy trustee to participate privately and work with a committee representing the creditors. Judge John Dorsey will consider the proposal at a hearing later on Wednesday.

In previous news, the motion for pretrial release by SBF was denied by the judge; Bullish and Tribe Capital have made competing bids for FTX.

Kasikornbank of Thailand launches $100 million flagship fund KXVC, to invest in Web3, AI, and other fields

According to Tech in Asia, Kasikornbank (KBank), a major digital bank in Thailand, has launched a $100 million flagship fund called KXVC, which will invest in AI, Web3, and deep tech startups focused on financial services. In addition to investment, KXVC will provide entrepreneurs with access to KBank’s corporate resources, SME and consumer networks, and partner support.

The fund, founded by KBank’s innovation arm Kasikorn X, plans to focus on investing in over 30 startups and funds in the Asia-Pacific region, Israel, the United States, and the European Union.

Warning: Mozilla fixes critical zero-day vulnerabilities in Firefox and Thunderbird, users advised to upgrade promptly

According to The Hacker News, Mozilla, the development company behind the Firefox browser, has released a security update on Tuesday to address a critical zero-day vulnerability in Firefox and Thunderbird that has been actively exploited in the wild. The official fix has been implemented in Firefox 117.0.1, Firefox ESR 115.2.1, Firefox ESR 102.15.1, Thunderbird 102.15.1, and Thunderbird 115.2.2, and users are advised to upgrade promptly.

This vulnerability, identified as CVE-2023-4863, is a heap buffer overflow in the WebP image format that can lead to arbitrary code execution when processing specially crafted images. Mozilla stated in an advisory report, “Opening a malicious WebP image can cause a heap buffer overflow in the content process, and we are aware of this issue being actively exploited in the wild in other products.” According to the description in the US National Vulnerability Database, this vulnerability may allow remote attackers to perform out-of-bounds memory writes via a specially crafted HTML page.

NetEase Games has purchased a total of 93.85 BTC in the past 12 months, and the board of directors plans to seek authorization to purchase cryptocurrencies again.

According to reports from Financial World, NetEase Games, a Hong Kong-listed company (08267.HK), announced that based on the announcements published by the company on June 15, 2023, July 7, 2023, August 8, 2023, and August 17, 2023, the group has purchased a total of 92.4712 units of Bitcoin in the open market transactions, with a total cash price of approximately 2.66 million US dollars. During the 12-month period prior to the date of this announcement, the company purchased a total of 93.85 units of Bitcoin in the open market transactions, with a total cash price of approximately 2.7 million US dollars.

The announcement stated that the board of directors proposes to seek prior approval from shareholders to authorize and empower directors to conduct potential cryptocurrency purchases during the authorized period, with a total price not exceeding 5 million US dollars. The group also notes that the price of cryptocurrencies may fluctuate significantly, so the board of directors intends to invest in the largest cryptocurrencies by market value (such as Bitcoin and Ethereum).

Astar Network to launch Astar zkEVM, a Layer 2 solution supported by Polygon

According to The Block, Astar Network is collaborating with Ethereum scaling developer Polygon Labs to launch its Layer 2 solution, Astar zkEVM. According to a statement, Astar Network will use Polygon CDK (an open-source code library for launching zero-knowledge-driven Layer 2 chains on Ethereum) to build Astar zkEVM. The Astar zkEVM testnet is planned to launch in the fourth quarter of this year, and sETH will serve as the Gas token on the testnet.

OKX: Abnormal contract prices caused by a limit price calculation system issue, the problem has been fixed and affected users will be compensated

On the OKX platform, perpetual contract trading pairs of multiple currencies such as TRB, PERP, WLD, and YGG experienced abnormal price fluctuations, with TRB experiencing a short-term volatility of over 90%, PERP experiencing a short-term volatility of 13%, and WLD and YGG also experiencing short-term volatility of over 20%.

In response to the issue, OKX stated on its platform that from 15:38 to 15:43 (HKT), there was a short-term abnormality in the platform’s limit price calculation system, resulting in abnormal prices for some contract assets on the OKX platform. The relevant issue has been fixed, and the specific scope of impact and user losses are currently being investigated. Compensation plans will be provided as soon as possible.

Enjin Blockchain is now officially live

Blockchain game development platform Enjin announced that Enjin Blockchain is now live, and Enjin Wallet, NFT.io, and other Enjin applications will soon be restored.

Huobi has been renamed to HTX

Official X accounts show that Huobi has been renamed to HTX. The official website logo has also been changed to HTX. It is stated that “H” represents the “H” in Huobi, “T” represents TRON, symbolizing the determination to go all in on TRON, and “X” represents the exchange business.

opBNB mainnet is now officially live

The opBNB mainnet based on the OP Stack has officially launched and will focus on enhancing the network’s resilience and decentralization through Proof Enhancement, account abstraction, data availability with BNB Greenfield, interoperability with BNB Greenfield, and decentralized sorters.

Funding News

Crypto venture capital firm Electric Capital plans to raise $300 million for its new fund

According to The Block, Electric Capital, a Web3 venture capital firm, plans to raise $300 million for its new fund. The fund, named Electric Capital Venture Fund III, has not yet started its initial sale and Electric plans to limit the issuance time to within one year. Electric Capital, founded by Curtis Spencer and Avichal Garg in 2018, is located in LianGuailo Alto, California. The company raised $110 million for its second venture fund in 2020. In March 2022, Electric Capital raised $1 billion for investing in early-stage crypto startups.

Web3 collaborative entertainment protocol Mythic completes $6.5 million funding, led by Shima Capital founder

According to Finsmes, Web3 collaborative entertainment protocol Mythic Protocol has completed a $6.5 million seed funding round, led by Shima Capital founder Yida Gao. Alpha JWC, Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM, and some angel investors also participated. The funds will be used for development and launch of the initial core product.

Cross-border payment platform LianGuairallax completes $4.5 million seed funding, led by Dragonfly Capital

According to the official blog, cross-border payment platform LianGuairallax has announced the completion of a $4.5 million seed funding round, led by Dragonfly Capital. Circle Ventures, General Catalyst, gumi Cryptos Capital, LianGuailm Drive Capital, Comma Capital, Firsthand Alliance, as well as angel investors Balaji, Zach Abrams, and others also participated. The new funds will be used to further expand the team and business scale.

L2 network Layer N completes $5 million seed funding, led by Founders Fund and dao5

Ethereum Layer 2 network Layer N has announced the completion of a $5 million seed funding round, co-led by Founders Fund and dao5, with participation from Kraken Ventures and Spencer Noon, among others. Founders Fund’s investment in this round is $1.8 million.

Important Data

Report: Liquidity providers have conducted over $2 billion wash trading on Ethereum-based DEXs

A report by Solidus Labs states that since September 2020, token issuers and liquidity providers have conducted wash trading worth over $2 billion on Ethereum-based DEXs, manipulating the prices and trading volumes of over 20,000 tokens.

Researchers conducted an investigation into wash trading on three DEXs and found that 67% of liquidity providers engaged in wash trading out of a sample of 30,000 Ethereum-based DEX liquidity pools, with wash trading accounting for 13% of the total pool trading volume. Solidus researcher Will Kueshner stated, “In terms of quantity, we’re looking at 1% of all liquidity pools we focused on, so the actual scale of wash trading on DEXs may be much larger.”

According to Solidus, wash trading on Ethereum is not cheap, with transaction costs ranging from $1 to $5 per transaction. However, the profits can make up for it. For example, the deployer of Shibafarm earned about $2 million in profit within two hours in May 2021 by extracting bidirectional liquidity from the pool.

Beosin: The loss amount of the exchange CoinEx is at least $53 million

According to Beosin’s Beosin KYT virtual asset anti-money laundering compliance and analysis platform, as of the time of writing, the estimated losses of the exchange CoinEx on multiple blockchains are at least $53 million, including approximately $18 million on the ETH chain, $6.3 million on the BNB chain, $11.1 million on the TRON chain, $6 million on the XRP chain, $5.97 million on the BTC chain, $286,000 on the Polygon chain, $2.65 million on the Solana chain, $448,000 on the BCH chain, $1.7 million on the XDAG chain, and $1.12 million on the KDA chain.

According to SlowMist, the CoinEx hacker is believed to be associated with other attack incidents and may be a North Korean hacker group called the Lazarus Group.

An OTC buyer of CRV, a founder of Curve, transferred 609,057 CRV to Binance

Lookonchain updated the situation of an address starting with 0xb0b transferring CRV to Binance. The address has accumulated 609,057 CRV (worth $240,000) into Binance today.

It is reported that the address starting with 0xb0b previously purchased 2.5 million CRV from the founder of Curve through OTC. Earlier today, the news broke that the address transferred 548,700 CRV to Binance.

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LianGuaiNews launches the global LEAP tour!

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