Less than two weeks after rebranding to HTX, Huobi (now HTX) fell victim to a hack in which 5000 ETH, valued at almost $8 million, was stolen. Moving on to Bitcoin, the cryptocurrency has seen three consecutive green candles, pushing its price above the downward trend line that has been in place since July 13. Ethereum is also showing positive signs, with an upward break and a shift in the ETH/BTC pair in favor of Ethereum. Additionally, there has been a spike in ETH dominance.
In the world of DeFi, the Uniswap Foundation has submitted a proposal for a second round of funding to support their vision for the DeFi ecosystem. Michael Egorov, founder of Curve, has settled his debt on Aave by depositing 68 million CRV tokens worth $35 million. The Jade Protocol is facing pressure from a longtime member to liquidate its $31 million token treasury and issue redemptions to all token holders.
In business news, Binance has advised its Paysafe users to convert their EUR balances into USDT as Paysafe has withdrawn its services from the platform. The DFINITY Foundation has launched the ICP Asia Alliance and a $20 million grant program to drive Web3 adoption in Asia. Chainlink has integrated its Cross-Chain Interoperability Protocol with layer-2 blockchain Base. Marathon Digital, a notable Bitcoin miner, confirmed the mining of an invalid block on the Bitcoin network.
Fhenix, an encryption startup from Israel, raised $7 million in seed funding to bring fully homomorphic encryption to smart contracts. Ethereum transaction tools provider Blocknative has decided to withdraw from its services connected to MEV-Boost Relay. Bankrupt crypto lender BlockFi is set to begin repaying its customers after receiving approval for its amended liquidation plan. Tether informed Cake DeFi that it cannot redeem USDT due to Cake DeFi’s control by a Singapore-based corporation.
Mitsubishi UFG Trust, Japan’s largest bank, partnered with Binance Japan to launch a Yen-backed stablecoin offering. The Arbitrum Foundation transferred 69 million worth of its ARB native token to its treasury. Coinbase pursued the acquisition of FTX’s European entity to expand its presence in the derivatives business globally.
In terms of security, HTX (formerly Huobi) suffered a hack in which 5000 ETH, worth $7.9 million, was stolen. Mixin Network disclosed a loss of approximately $200 million in digital assets due to an exploit that is still under investigation. South Korean exchange Upbit has resumed Aptos (APT) deposits and withdrawals after resolving an issue with a scam APT token.
Hot Take: Huobi (HTX) Falls Victim to Hack After Rebranding
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