PolyNetwork Hack

POKKET: Crypto Market Update (Aug 19)

POKKET: Crypto Market Update (Aug 19)

Bitcoin is flat at just above $45k, ETH is the same at barely holding $3k handle. Movers are SRM +21%, SNM +15%, GTO +12%, FET TRU +9%, BRD -18%. Robinhood says crypto revenues were $233M for Q2, and 60% of the user base has traded crypto during the period. The company has promised to add more crypto wallets and will list more coins, although not giving any guidance on timing nor the list of proposed listings. Facebook is gearing up to release it’s own stablecoin wallet, Novi, after almost two q…
POKKET: Crypto Market Update (Aug 17)

POKKET: Crypto Market Update (Aug 17)

Bitcoin is softer -4.9% to $45.8k, ETH is lower -5.6% to $3130. Movers are AUDIO +54%, DODO +19%, FTM +17%, SRM +14%, DENT -11%. PolyNetwork is launching a $500k rewards program on bug bounty platform ImmuneFi following the monumental $600M hack just last week. OpenSea has seen a huge bump in revenue as the second NFT waves hits this year — $1.2B in transactions last month, currently at $800M this month. This basically means OpenSea is now doing more business in a day than they did in all of 202…
POKKET: Crypto Market Update (Aug 12)

POKKET: Crypto Market Update (Aug 12)

Bitcoin is +0.3% to $46.0k, ETH is doing better +1.8% to $3230. Movers are TRU +64%, DENT +31%, DOCK +20%, MATIC +19%, HOT +17%, OCEAN +14%, CND +13%, WABI CELR +12%, SUSHI +11%, STMX +10%. DOGE is up +40% in a week as the rest of the crypto market remains quiet. Lockbit hit Accenture with ransomware, and has started releasing stolen files after the victim said it had "contained the matter" and brushed off the hack. SEC chair Gary Gensler has written a letter to Senator Warren about the need for…
POKKET: Crypto Market Update (Aug 11)

POKKET: Crypto Market Update (Aug 11)

Bitcoin is -0.6 at $45.6k, while ETH is +1% to $3160. Movers are AXS +46%, ALICE +22%, BQX +14%, BAND HOT +13%, FET AKRO +12%, CND CHR CRV BRD +10%, CTSI -13%. In one of the largest crypto hacks in history, $600M of TVL was syphoned from PolyNetwork overnight. Security experts and forensics are hard at work to find the path of the hack, with some saying its an inside job and others calling a security flaw in the multi-sig setup. Either way, the hacker has managed to convert some of the $600M alr…