Bitcoin User Pays $500,000 Fee Due to Software Bug
A Bitcoin (BTC) user recently paid a fee of BTC 20 (worth $500,000) in a single transaction to move just BTC 0.074 (worth $200). According to Casa CTO Jameson Lopp, this transaction seems to be the result of a bug in the software used by an exchange or payment processor. They received and sent 60,000+ transactions from the same address, which is considered bad practice, and likely miscalculated their change output. The user will need to contact the mining pool to request the funds back.
Animoca Brands Raises $20 Million for Mocaverse Project
Metaverse and gaming venture capital firm Animoca Brands has secured $20 million in funding. The funding round was led by CMCC Global, with participation from Kingsway Capital, Liberty City Ventures, GameFi Ventures, and others. The funds will be used to advance the Mocaverse project, including product development, promoting Web3 adoption, and forming partnerships to expand Animoca Brands’ gaming, culture, and entertainment ecosystem.
Unstoppable Domains Adds B2U Messaging Feature
Unstoppable Domains, a domain and digital identity platform, has introduced a Business-to-User (B2U) messaging feature for its messaging service called Unstoppable Messaging. With B2U messaging, businesses can segment their Web3 audiences and send personalized messages without requiring users to sign up or provide email addresses. Powered by the Push Protocol communication network, these messages will work like pop-up push notifications, enabling companies to directly communicate with their customers.
Teenage Hacker’s Stolen Bitcoin to Be Seized by DOJ
The US Department of Justice (DOJ) is planning to seize $5.2 million in Bitcoin that was stolen from crypto executives four years ago by a teenage hacker. The hacker, Ahmad Wagaafe Hared, used a SIM-swapping scheme to steal the funds. A federal judge in San Francisco has issued a preliminary order of forfeiture, allowing the government to seize the stolen Bitcoin, Stellar Lumens (XLM), and a luxury sports car owned by the hacker.
French Regulators Launch Training Module for Financial Influencers
The Autorité des Marchés Financiers (AMF) and the Autorité de Régulation Professionnelle de la Publicité (ARPP), two French regulators, have developed a training module for influencers in the financial sector. This initiative aims to professionalize commercial influence, which is now regulated by law. The training module is part of the “Responsible Influence Certificate” launched by ARPP in 2021. Nearly 1,000 French influencers have already obtained this certificate by completing an online training course on best practices in influencer marketing.
Sushi Expands to Aptos Blockchain
Decentralized exchange Sushi is expanding its services to the Aptos layer-1 blockchain. This marks Sushi’s first expansion onto a non-Ethereum Virtual Machine (EVM) chain. By leveraging Aptos’s Move programming language, Sushi is introducing its v2 Automated Market Maker (AMM) on the Aptos blockchain, with plans for further integrations in the future.
Hot Take: Bitcoin User’s Costly Mistake Highlights Software Bugs
The recent incident where a Bitcoin user paid a $500,000 fee due to a software bug serves as a reminder of the importance of thorough testing and quality control in the crypto industry. Such bugs can lead to significant financial losses for users and tarnish the reputation of exchanges and payment processors. It highlights the need for proper development practices and the use of secure software. Additionally, it emphasizes the importance of user education and understanding the intricacies of transactions on the blockchain. As the crypto industry continues to grow, it is crucial for all participants to prioritize security and reliability to maintain trust and enable widespread adoption.
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