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DAO Maker: Hackers Steal $7 Million, 5,251 Users Affected

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DAO Maker issued an announcement saying that at around 1:00 UTC on August 12, hackers maliciously used a wallet of DAO Maker and obtained administrator privileges. After initially testing the vulnerability and successfully stealing 10,000 USDC, the cyber criminal quietly made 15 more transactions. In this way, the hackers embezzled approximately $7 million before security teams were able to trace, contain and stop the outflow of funds. A total of 5,251 users were affected, with each user losing an average of $1,250. Fortunately, however, users holding funds up to $900 are not affected at all.

digital currency

The team has decisively moved unaffected funds to a brand new secure wallet, while users can still withdraw funds unhindered if desired. DAO Maker emphasized that Vault is safe and that the hack has no adverse impact on its business. Over the next five days, DAO Maker will devise a solution to mitigate the damage done, and use a massive forensic investigation to bring the hackers to justice. All affected users will be notified via email and DAO login portal.

digital currency

ETH options open interest exceeds $4 billion, a two-month high

According to Skew data, the value of open interest in ETH options exceeded $4 billion, a two-month high.

The hacker returned 28,953 ETH to the multi-signature address provided by Poly Network

According to OKLink data monitoring, the hacker who attacked Poly Network returned 28,953 ETH to the Ethereum multi-signature payment address released earlier by Poly Network at block height 13011221.

Nexon Q2 financial report: Net profit slightly lower than expected due to the value of Bitcoin held by about $40.7 million

Study: 55 of the world's top 100 banks are involved in investing in cryptocurrency and blockchain companies

Punk Protocol Hit During Fair Launch, Loses About $4M

According to research by blockchain market intelligence agency Blockdata, 55 of the top 100 banks by assets under management (AUM) are investors in major crypto and blockchain technology companies and projects. This involvement includes direct and indirect investments in crypto and decentralized ledger technology companies by the bank itself or through its subsidiaries. Research by Blockdata ranks Barclays, Citigroup and Goldman Sachs as the most active supporters of cryptocurrency and blockchain companies, as do JPMorgan and BNP Paribas. Recognized as a serial investor in this emerging space. (Cointelegraph)

Punk Protocol Hit During Fair Launch, Loses About $4M

SushiSwap launches animal token MEOW, which can represent the revenue share of BentoBox vault

Blockchain industry

On August 12, AntChain launched new payment code skin NFT collections "Green Snake Robes Xiaoqing" and "Green Snake Robes Xiaobai". The creator of the payment code skin NFT is Tianjin Duanhe Naqu Technology Co., Ltd. On August 12th at 10:00, 14:00, 17:00 and 20:00, the redemption will start. Each of the two rights and interests will be limited to 10,000 copies in each time period.

On August 12, AntChain launched new payment code skin NFT collections "Green Snake Robes Xiaoqing" and "Green Snake Robes Xiaobai". The creator of the payment code skin NFT is Tianjin Duanhe Naqu Technology Co., Ltd. On August 12th at 10:00, 14:00, 17:00 and 20:00, the redemption will start. Each of the two rights and interests will be limited to 10,000 copies in each time period.

Investment and Financing

Decentralized governance platform Tally raises $6 million led by Blockchain Capital and Placeholder

Decentralized governance platform Tally raises $6 million led by Blockchain Capital and Placeholder

Encrypted tax software company TaxBit completes $130 million in Series B financing, with a valuation of more than $1.3 billion

Encrypted tax software company TaxBit completes $130 million in Series B financing, with a valuation of more than $1.3 billion

Data analysis platform Dune Analytics raises $8 million, led by USV

Encrypted taxation and accounting software company TaxBit announced the completion of $130 million in Series B financing, making it a new crypto unicorn with a valuation of more than $1.3 billion. This round of financing was led by IVP and Insight Partners, with participation from Tiger Global Management, Paradigm, and 9Yards. (Bloomberg)

Data analysis platform Dune Analytics raises $8 million, led by USV

Highstreet, a VR and DEFI market, announced the completion of $5 million in financing, with participation from Mechanism Capital and others

Highstreet, a VR and DEFI market, announced the completion of $5 million in financing, with participation from Mechanism Capital and others

According to official news, Highstreet, a VR and DEFI market, announced the completion of a $5 million financing round, with participation from Mechanism Capital, NGC, Palmdrive Capital, Jump Trading, GBV, Panony, Shima Capital, Encrypt Club, Mr. Block, and Miss Bitcoin. The funds raised this time will be used to expand the engineering team, especially those related to Unity.

global policy

According to official news, Highstreet, a VR and DEFI market, announced the completion of a $5 million financing round, with participation from Mechanism Capital, NGC, Palmdrive Capital, Jump Trading, GBV, Panony, Shima Capital, Encrypt Club, Mr. Block, and Miss Bitcoin. The funds raised this time will be used to expand the engineering team, especially those related to Unity.

Iran’s National Tax Agency Proposes to Legalize and Tax Cryptocurrency Exchanges

Character·Voice

The Iranian National Tax Authority (INTA) is pushing for the creation of a legal framework for taxing crypto trading platforms operating in the country, according to a new proposal from Iran’s tax authorities. INTA proposes three tax regimes for crypto trading platforms, including a capital gains tax, a fixed base tax and a professional tax, although the proposal does not specify the taxation mechanism for crypto businesses. According to sources, the proposal will also involve DeFi. In order to comply with anti-money laundering regulations, the proposal wants to put a cap on transactions that occur on decentralized exchanges. (Cointelegraph)

Character·Voice

Ethereum Foundation researcher Justin Drake's model shows ETH is still an "inflationary asset"

Although EIP-1559 can destroy a certain amount of ETH, a model constructed by Ethereum Foundation researcher Justin Drake shows that even if more verifiers join the Ethereum network, the ETH pledged annual return rate (APR)/yield remains at 6 %, the annual supply of ETH will "only" decrease by 1.6 million, which means that the annual supply rate of ETH is reduced to 1.4%, that is, ETH tokens are still an inflationary asset, but the deflationary pressure is greater. (Cointelegraph)