Month: February 2023

Platypus DeFi faces flash loan attack, according to CertiK

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Blockchain security firm CertiK reported on Feb. 16 that it has spotted a flash loan attack on Avalanche-based stableswap platform Platypus DeFi. The blockchain security firm posted the news in a tweet, alongside the attacker contract address. #CertiKSkynetAlert We are seeing a #flashloan attack on @Platypusdefi resulting in a potential loss of ~$8.5M. Tx AVAX: 0x1266a937c2ccd970e5d7929021eed3ec593a95c68a99b4920c2efa226679b430 Stay Frosty! pic.twitter.com/AM2HOM5M2r โ€” CertiK Alert (@CertiKAlert) February 16, 2023 According to the source, nearly $8.5 million has been already been moved. As a result, the Platypus USD stablecoin became depegged and dropped 52.2%…

SEC Sues Terraform Labs, Do Kwon for Misleading Investors on TerraUSD Stablecoin

“Terraform and Kwon also misled investors about one of the most important aspects of Terraform’s offering โ€“ the stability of UST, the algorithmic ‘stablecoin’ purportedly pegged to the U.S. dollar,” the suit said. “UST’s price falling below its $1.00 ‘peg’ and not quickly being restored by the algorithm would spell doom for the entire Terraform ecosystem, given that UST and LUNA had no reserve of assets or any other backing.” Source

Federal judge hints at denying Sam Bankman-Fried any internet access as condition of bail: Report

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Judge Lewis Kaplan reportedly targeted Sam Bankman-Friedโ€™s internet usage in a hearing aimed at reviewing the former FTX chief executive officer use of a virtual private network, or VPN. According to a Feb. 16 tweet from NPR correspondent David Gura, Judge Kaplan may have suggested that Bankman-Fried be denied access to any electronic device and the internet as a condition of his bail. Though SBFโ€™s lawyers reportedly said there was no television in Joe Bankmanโ€™s and Barbara Friedโ€™s California home โ€” where the former FTX CEO has largely been confined…

Bankman-Fried Remains Out on Bond, but Judge Warns โ€˜Revocationโ€™ Proceedings Possible in Future

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Uzbekistan Allows Foreign Firms to Deposit Funds From Crypto Trading, Restricts Other Operations โ€“ Regulation Bitcoin News

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The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the country will be restricted. Uzbekistan Updates Rules for Operations With Proceeds From Crypto Exchange Transactions The Central Bank of the Republic of Uzbekistan has adopted amendments to its regulations for foreign exchange transactions that concern non-resident legal entities, including those working with cryptocurrencies. In particular, they are now allowed to have accounts at local…

GBBC Digital Finance joins international securities organization as an affiliate member

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GBBC Digital Finance announced Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities.ย  IOSCO members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate Members Consultative Committee, which GBBC Digital Finance has joined as its 70th member. The committee provides input on IOSCO policy and standards. Committee members also form groups that hold annual trainings on securities-related issues. The IOSCO…

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