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Binance bridge hit by $560 million hack

Edition #37 - 9 OCT 2022

Hackers reportedly diverted more than $560 million worth of cryptocurrency from Binance Bridge.

On Thursday, Binance CEO Changpeng Zhao announced on Twitter that hackers exploited a vulnerability in the BSC (BNB Chain) Token Hub cross-chain bridge. In addition to acknowledging the hack, Binance announced that it worked with validators to temporarily suspend BSC, to freeze transfers. The cryptocurrency trading platform says that it has already recovered some of the stolen funds.

gaming developments

metaverses & Adoption

  • FTX is launching a Visa debit card in over 40 new countries across Latin America, Europe and Asia;

  • Metaverse shopping: you can now buy a private jet in a virtual mall;

  • Elon Musk was mulling creating a blockchain-based social media firm before offering to buy Twitter;

  • UK investment giant Abrdn joins Hedera governing council to advance tokenization goals;

  • Three Arrows Capital’s NFT collection to be liquidated as part of its bankruptcy proceedings;

  • Japan launches headlong into metaverse in bid to revitalize economy;

  • Warner Music Group hiring people to develop projects for its web3 push;

  • NFT and blockchain-related trademarks filed in the US surpass 6,000 in 2022, 3x 2021 figure.

ZEN highlight

We're thrilled to announce our Managing Partners Tomas Martūnas and Dylan Sharkey have been selected to speak at Global Blockchain Congress and WOW Summit this fall - get to meet Tomas in Dubai on Nov 23rd - 24th and Dylan in Lisbon on November 1st through 3rd.


funding rounds

  • Golden, a web3 knowledge engine, raises $40 million in a Series B funding round led by a16z crypto. Protocol Labs, OpenSea Ventures, Harpoon Ventures, DCVC, MVP Ventures, HNVR, Vela Partners, Socii Capital, FalconX, Xoogler, TRAC, Scale Asia Ventures, Chaac Ventures and others are among investors.

  • Blockchain Game Developer Horizon raised $40 million in a Series A funding round led by Brevan Howard Digital and Morgan Creek Digital. Ubisoft Entertainment SA and Take-Two Interactive Software also participated in the round.

  • ​​Blackbird, a web3 hospitality platform, raises $11 million in a Seed round, co-led by Union Square Ventures, Shine Capital and Multicoin Capital. Other backers include Variant, Circle Ventures and IAC.


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