Headline
Curve Stablecoin Pool alETH/msETH/pETH Attacked Due to Vulnerabilities in Vyper
The Ethereum programming language Vyper has announced that versions 0.2.15, 0.2.16, and 0.3.0 have a recursive lock vulnerability that causes certain functionalities to fail. We are currently investigating the issue and urge any projects using these versions to contact us immediately. Curve has responded by stating that certain stablecoin pools (alETH/msETH/pETH) have been attacked due to the vulnerability in Vyper 0.2.15. We are assessing the situation and will provide updates to the community as the situation develops. Other pools are unaffected.
According to the monitoring of Pudong Shield, the DeFi lending protocol Alchemix, the DeFi public product JPEG'd, the DeFi synthetic asset protocol Metronome, the cross-chain bridge deBridge, the DEX Ellipsis on the BNB Chain using the Curve mechanism, and the Curve CRV/ETH pool have been attacked, resulting in a loss of approximately $52 million.
According to previous reports, the Ethereum programming language Vyper announced that there is a recursive lock vulnerability in versions 0.2.15, 0.2.16, and 0.3.0. Investigations are currently underway, but any projects using these versions should contact us immediately.
Banteg, a contributor to Curve, stated that the CRV/ETH pool was emptied minutes before white hat hackers started rescuing. This is part of a series of attacks that have taken place, and it is estimated that 7 million CRV and $14 million worth of WETH were stolen from the CRV/ETH pool on Curve.
Industry News
Suspected Multichain-related addresses are selling WBTC and have transferred 220 WBTC
According to Lookonchain, the address on the chain labeled as "Multichain Suspicious Address 4" is selling WBTC.
The on-chain data shows that within a little over an hour, the address transferred a total of 220 WBTC to an address starting with 0x3c74. The address starting with 0x3c74 is gradually exchanging WBTC for USDT on 1inch.
On July 7th, approximately $127 million in locked assets on Multichain were abnormally transferred to 6 addresses, and the aforementioned address is one of them.
c0ffeebabe.eth has returned 2879 ETH to the Curve Deployer address
Odaily News According to PeckShield monitoring, MEV robot c0ffeebabe.eth has returned 2879 ETH (about 5.4 million US dollars) to the Curve.fi: Deployer address.
According to previous reports, Vyper, Ethereum's programming language, announced that there is a recursive lock vulnerability in Vyper versions 0.2.15, 0.2.16, and 0.3.0. An investigation is currently underway, but projects using these versions should immediately contact us.
Curve's official response states: Some stablecoin pools (alETH/msETH/pETH) have been attacked due to the vulnerability of Vyper 0.2.15. We are assessing the situation and will release updates to the community as the situation develops. Other pools are safe.
Regulatory Updates
SEC sues Hex and Pulsechain founder for allegedly selling unregistered securities
Odaily News The U.S. SEC has sued Richard Heart, the founder of Hex and Pulsechain, for allegedly selling unregistered securities. According to the SEC, Heart raised over $1 billion through the sale of project tokens. The SEC stated that Heart had previously made comments implying that Hex would rise, but the current price of Hex has dropped 98.4% from its all-time high.
In addition, the SEC pointed out that Heart misappropriated over $12 million of customer funds for personal luxury purchases instead of developing the protocol. (The Block)
Odaily News - The Securities Regulatory Agency of Nigeria stated in a notice on Friday that Binance is not registered with the agency and therefore its cryptocurrency activities are considered illegal. The notice also orders all cryptocurrency platform providers to stop soliciting Nigerian citizens. (CoinDesk)
German Data Regulatory Agency Investigating Worldcoin
Odaily News - Michael Will, the chairman of the German Data Regulatory Agency, stated that they have been investigating the Worldcoin project since the end of last year due to its involvement with large-scale sensitive biometric data. Will mentioned that this poses many risks, including whether users have given their explicit consent for the processing of their highly sensitive biometric data on a "fully informed and clear" basis. (Reuters)
According to previous reports, the French privacy regulatory agency CNIL and the UK data regulatory agency Information Commissioner's Office are also investigating Worldcoin.
Judge Rejects Terraform Labs' Request to Dismiss SEC Charges
Odaily News - A judge has rejected Terraform Labs' request to dismiss the SEC charges in the US and declined to adopt the ruling of another judge, which stated that "Ripple's sale of XRP to retail investors through exchanges does not violate securities laws." Earlier, Terraform Labs filed a motion to dismiss the SEC lawsuit, arguing that the regulatory agency has sufficiently demonstrated its jurisdiction. The judge stated that the cryptocurrency industry has not reached the industry standards of having "enormous economic and political significance," therefore Terraform's request does not apply. (CoinDesk)
Project News
Odaily News: DEX Screener data shows that the largest DEX on the Base chain, LeetSwap, has a 24-hour trading volume of $233 million and a total of 52.61 thousand transactions. Among the top ten trading pairs on LeetSwap, nine of them are meme coins, with the platform token LEET being the exception. The 24-hour trading volume of BALD/WETH is $108 million, accounting for nearly 50% of the total trading volume on LeetSwap.
BALD project removes 6,809 ETH liquidity, causing an instant 82% price drop
Odaily News: Market data shows that BALD project has withdrawn 6,809 ETH liquidity, causing an instant 82% price drop. The highest point today was 0.0974 USDT, and the lowest was 0.0128 USDT.
Odaily News Lens Protocol founder Stani expressed his views on the Curve incident: "Although DeFi is open to everyone, it is difficult and risky to build a resilient DeFi protocol. In the Curve incident, they did a great job at the protocol level, but the issue with Vyper compilation resulted in DeFi risks affecting the entire system, including the underlying stack, EVM, and more. The damage caused by this incident is limited, and the Curve community is capable of handling it. Many attacks were front-run, but MEV bots also returned some of the attack funds to Curve. The most important point is that DeFi empowers the public with transparency, but it is also susceptible to incorrect information, such as loss amounts and affected protocols, causing unnecessary panic."
Stani concluded by stating that the community needs to find the right way to share accurate information and reduce any unnecessary FUD.
The number of active addresses in Sui has reached 2 million
Odaily News reported that the number of active addresses in Sui has reached 2,000,000. In the past few weeks, the number of active addresses on the Sui chain has doubled.
ArbDoge AI confirms that the project founder is crypto KOL Wang Dayou
Odaily News confirmed that meme project ArbDoge.AI officially announced that crypto KOL Wang Dayou (@youyou 5202) is the project's founder and leader.
ArbDoge.AI stated that although the founder is Chinese, the team and community are global. The founder is willing to openly face everyone after careful consideration, which is one way the team conveys trust to the community.
According to previous reports, Twitter KOL Wang Dayou publicly claimed to be the founder of the meme project ArbDoge.AI, which was once popular. He stated, "The project's economics, operations, every medium story, and every tweet were all created by me. I will accompany this project until the end and complete the AIFI product."
Lifeform will distribute LFT tokens to early users through airdrop, snapshot completed
Odaily News: Visual DID infrastructure provider Lifeform has announced that a snapshot of addresses eligible for LFT token airdrop has been taken at block heights 30342850 (BSC) and 17787821 (ETH). The token airdrop will be distributed as rewards to early users of Lifeform.
According to previous reports, Lifeform announced a valuation of $300 million in a new round of financing led by IDG Capital in May this year. IDG Capital will deeply participate in building the digital citizen world and provide more ecological cooperation partners for Lifeform. So far, the total amount of funding raised by Lifeform in seed rounds, Series A, and Series B has exceeded tens of millions of dollars.
Aave community initiates voting for ARFC proposal "Deploying V3 on Base"
Odaily News: The Aave community has initiated a voting for the ARFC proposal "Deploying Aave V3 on Base". The current support rate is 99.98%, and the voting will end on August 1st at 3:00.
The proposal suggests deploying Aave V3 on Base after the launch of the Base mainnet, and select a series of assets as collateral, including wETH, wstETH, cbETH, and USDC.
If the proposal is passed, after BGD Labs publishes the infrastructure/technical evaluation report, it will be improved based on community feedback and recommendations from updated risk providers, and then resubmitted for snapshot voting to obtain final approval. If consensus is reached, the AIP proposal will be submitted to activate Aave V3 Base (upon the launch of the Base mainnet).
Investment and financing
Trading platform eToro agrees to conduct a $120 million equity sale
Odaily News: Trading platform eToro has agreed to conduct a $120 million secondary equity sale, which will value the company slightly below the $3.5 billion valuation it achieved in a previous financing round earlier this year. The secondary sale will be offered to existing shareholders and early employees who have exercised their options, providing them with an opportunity to gain liquidity in their equity holdings. (CNBC)
According to previous reports, after canceling plans to go public through a SPAC listing with a valuation of $10.4 billion in 2022, eToro, the trading platform, completed a $250 million financing round with a valuation of $3.5 billion, with participation from ION Group, Social Leverage, SoftBank, and Spark Capital.
DeFi protocol Solv Protocol completes $6 million financing
Odaily News: Institutional DeFi platform Solv Protocol has completed a $6 million financing round, with participation from Laser Digital, UOB Venture Management, Mirana Ventures, Emirates Consortium, Matrix Partners, Apollo Capital, HashCIB, Geek Cartel, and Bytetrade Labs.
Mr. Olivier Deng, Chief Operating Officer of Nomura Securities' Wholesale Digital Office, stated that Solv has established a trustless institutional DeFi platform that integrates brokers, underwriters, market makers, and custodians. It has built the first fund infrastructure on the blockchain to bridge the liquidity of DeFi, CeFi, and TradFi. (CoinDesk)
Blockchain cloud company Common Computer completes KRW 800 million Series B bridge financing
Odaily News - Blockchain cloud company Common Computer has completed a bridge financing of KRW 8 billion (approximately USD 630,000).
Common Computer announced that it has attracted strategic investment of KRW 5 billion from healthcare company InBody and existing investors such as HB Investment. Through this investment partnership, the two companies plan to advance AI chatbots to provide a natural language experience for over 10 million InBody users, validate the potential of large-scale models, and develop service cases. (Hankyung)
Conic Finance raises $1 million in funding, valued at $17 million
Odaily News - Conic Finance announced the completion of a $1 million funding round, valuing the company at $17 million. The investment was led by Curve founder Michael Egorov.
This funding will be used for Conic's development efforts, especially to cover upcoming audit fees. Previous reports indicated that Conic had suffered two hacking attacks, resulting in losses of $3.26 million and $300,000 respectively.
