Raydium announces details of hack, proposes compensation for victims

The team behind the Raydium decentralized exchange (DEX) has announced details as to how the hack of Dec. 16 occurred and offered a proposal to compensate victims. According to an official forum post from the team, the hacker was able to make off with over $2 million in crypto loot by exploiting a vulnerability in the DEX’s smart contracts that allowed entire liquidity pools to be withdrawn by admins, despite existing protections being to prevent such behavior.  The team will use its own unlocked tokens to compensate victims who lost…

New Amazon series explores NFT culture: Nifty Newsletter, Dec. 14–20

NFTs and soulbound tokens define Web3 filmmaking, says director With Web3 making its way to various industries like filmmaking, one movie director believes that tools like NFTs and soulbound tokens — digital identity tokens representing a person or entity — can serve cinema in various ways. In an interview with Cointelegraph, Stephen Fung, director of the Web3 film project Departed Apes, shared his perspective on integrating Web3 tools into cinema. According to Fung, there are many potential intersections between Web3 and film, such as fan engagement in movies shown in…

DEX aggregator OpenOcean enables cross-chain swaps across major networks

Decentralized Exchange (DEX) aggregator OpenOcean has announced the rollout of its new interoperable “all-in-one” cross-chain swap platform, which allows users to swap and bridge assets across Ethereum, BNB Chain, Polygon, Arbitrum, Avalanche, and Fantom.  We’ve just launched our 1-click Cross-chain swap+aggregator! Get the best cross-chain swap rates, now live on @ethereum, @BNBCHAIN, @0xPolygon, @arbitrum, @avalancheavax & @FantomFDN. Dive in nowhttps://t.co/UNP6FBATu0 More info: https://t.co/X9JFUfVMNm — OpenOcean – A leading Web3 DEX Aggregator (@OpenOceanGlobal) December 20, 2022 According to OpenOcean, it has integrated Celer Bridge and the Multichain bridge within its platform…

Five Bitcoin Wallets Linked to Collapsed Crypto Exchange Mysteriously Awaken After Years of Inactivity: On-Chain Data

Five Bitcoin wallets associated with the now-defunct crypto exchange QuadrigaCX moved 104 Bitcoin (BTC) worth $1.75 million for the first time in years, according to an on-chain researcher. Pseudonymous on-chain sleuth ZachXBT points out the development to his 339,400 Twitter followers. Five wallets attributed to QuadrigaCX unexpectedly moved ~104 BTC on Dec 17 for the first time in years. 1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB — ZachXBT (@zachxbt) December 19, 2022 The on-chain researcher notes one of the wallets sent about 69 BTC ($1.16 million) to the Bitcoin mixing service Wasabi. A crypto mixing service…

Digital euro settlement, distribution options detailed in latest progress report

Progress continues on the creation of a digital euro, and the European Central Bank (ECB) has documented it in a second progress report that described design and distribution options recently approved by its governing council. The report considered four crucial issues, roughly in keeping with the timeline the ECB set for itself that tentatively culminates in a decision on whether to transition from the investigation to the realization phase of work in Q3 2023. The report outlined the roles of the Eurosystem and intermediaries and established that supervised intermediaries would…

$1.7M in Quadrigacx Bitcoins Move, Court Trustee EY Says Transfers Were ‘Unauthorized’ – Bitcoin News

On Dec. 19, the Twitter account Zachxbt revealed he discovered five cold wallets from the now-defunct Quadrigacx crypto exchange move 104 bitcoin. The following day, ‘big four’ accountancy firm EY, Quadrigacx’s bankruptcy court trustee, explained it did not authorize the spending of the funds and that prior reports detailed that the cold wallets were inaccessible to EY. Cold Wallets Associated With Now-Defunct Quadrigacx Wake up After Years of Sitting Idle During the first week of Feb. 2019, the crypto exchange Quadrigacx told customers it was shutting down operations until it…