Jul 21 2024 41 mins
22nd July: Crypto & Coffee at 8
🟢 WazirX $230M Hack ✅ US Bitcoin ETFs - $17B Inflows 🔥Bitcoin v/s Widespread Cyber Outages ❗Spot Ethereum ETF from 23rd July ⚡ Ripple vs SEC 25th July
🟢WazirX mentioned via Twitter (X) that they experienced a cyber attack on one of their multi-sig wallets, resulting in over $230 million loss. The wallet managed with Liminal's digital asset custody services since February 2023, had six signatories—five from WazirX and one from Liminal, requiring multiple approvals for transactions. Despite robust security measures, including Ledger Hardware Wallets and a whitelisting policy, attackers exploited a discrepancy in Liminal's interface data, transferring control to themselves.
- Address via Etherscan here https://shorturl.at/iuOWa The hacker behind the $235 million exploit of cryptocurrency exchange WazirX has converted nearly $150 million of altcoins to 'Ether Spot on Chain' X has detailed info here https://rb.gy/tbggl7
✅ $17B Inflow to hashtag#BTC
- Farside Investors report here https://shorturl.at/ihDTv states that the US Bitcoin ETFs have cumulatively netted over $17 billion in inflows, setting a new record.
- The net inflows were driven primarily by BlackRock's IBIT, which alone accumulated $18.968 billion.
- Fidelity’s FBTC also contributed significantly, with net inflows of $9.962 billion.
- Grayscale Investments’s GBTC experienced a substantial net outflow of $18.694 billion, highlighting a shifting preference among investors.
🔥 Bitcoin vs Worldwide system outage
- On Friday, U.S. Senator Cynthia Lummis highlighted Bitcoin's stability during a major system outage linked to cybersecurity firm CrowdStrike, which disrupted various sectors including financial services and air travel. Despite the widespread issues, Bitcoin remained unaffected. Crowdstrike's CEO clarified the incident was due to a technology update, not a security breach. SunnySide Digital CEO Taras K. noted that Bitcoin's resilience is due to its use of Linux-based frameworks, unlike many other systems affected by the outage.
🟣 Cboe Global Markets has confirmed that hat One (1) Exchange Traded Product ("ETP") will be listed on Cboe and will begin trading as a new issue on 23rd July, pending regulatory effectiveness.
- Franklin Templeton Ethereum ETF with ticker symbol (EZET) will have its first date of trading. Info here https://shorturl.at/kjz20
- But Cointelegraph article here https://shorturl.at/MsB8C has 4 more approvals here ie 21Shares Core Ethereum ETF, Fidelity Investments Ethereum Fund, Invesco US Galaxy Ethereum ETF, VanEck Ethereum ETF.
❗ Ripple Vs. SEC : Sunshine Act Notice
The U.S. Securities and Exchange Commission has unexpectedly cancelled a closed-door meeting scheduled for Thursday, July 18, without providing a reason. Official info here https://shorturl.at/MKN4R
Two UAE news 🟣
⚡ RTA wins SAS UAE Award for Innovative Transportation AI Use Cases
⚡ First-ever MBZUAI Summer School shows promising future AI practitioners
For slides click here: https://rb.gy/x8upl4
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Podcast Host: @black_incarnation
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