Solana suffers another blow in an ecosystem-wide hack

Edition #29 - 5 AUG 2022

The Solana ecosystem appears to be the victim of crypto’s latest exploit, with users reporting their funds have been drained without their knowledge from major internet-connected “hot” wallets including Phantom, Slope and TrustWallet. Over 8,000 wallets have been compromised so far.

gaming developments

• Alien Worlds remained the most popular blockchain game throughout July, followed by Axie Infinity, Splinterlands, Solitaire Blitz and Upland;

• Blockchain gaming claimed almost 60% of all blockchain activity in July, an all-time high;

• Sandbox’s official Instagram has been hacked, firm issues a warning for malicious content;

• Metaverse land flipping profitability diminishes as profits plummet in Q2.

metaverses & Adoption

• Solana NFT collection Okay Bears is holding its first airdrop of NFTs that can be exchanged for real physical gold;

• Meta integrates 3rd party Coinbase wallets, MetaMask and others, plans to expand NFT features to 100 countries worldwide;

• Study: Americans’ interest in cryptocurrencies drops almost 30% in 2022;

• Asset management giant BlackRock is partnering with Coinbase to offer crypto for institutional investors;

• Bank of England raises interest rates to 1.75%, a 50 point increase, the biggest since 1995;

• Deloitte survey shows crypto payments are the next big thing in commerce.

defi

• DeFi Sybil attack created $7.5 billion of fake TVL on Solana from ‘anon’ developers;

• Voyager Digital has submitted court documents claiming that 88 interested parties have contacted the cryptocurrency lender over potential buyouts, set to return $270 million to customers;

• Nomad token bridge has been drained of $190 million in funds in one of largest scale security exploits to date;

• Lido DAO approves treasury token sale to Dragonfly Capital after terms tweaked;

• Bankrupt crypto lender Celsius wants to rehire its ex-Chief Financial Officer.

funding rounds

• Kurtosis, a crypto-focused developer system, has closed its $20 million Series A round, led by Coatue, with participation from Coinbase Ventures, Mantis VC and Olivier Pomel;

• Stride, a liquid staking protocol for Cosmos blockchain, raised $6.7 million Seed round this week led by North Island VC, Distributed Global and Pantera Capital;

• Debt DAO, a DeFi financing provider, has completed its $3.5 million Seed round, led by Dragonfly Capital, with participation from GSR, Numeus and Fasanara Capital.

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