πŸš€ Don't cry over spilt ... liquid 🚰

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    πŸš€ Don't cry over spilt ... liquid 🚰

    It's almost Friday, Geckos!

     

    The "white-hat" hacker who carried out the $600M cyberattack on the Poly Network has threatened to postpone the return of the stolen funds until at least next week.

     

    "YOUR ESSAYS ARE VERY CONVINCING WHILE YOUR ACTIONS ARE SHOWING YOUR DISTRUST, WHAT A FUNNY GAME," the attacker wrote in an Ethereum (ETH) transaction data field on Wednesday.

     

    A subsequent message which seems to be a reply from the Poly Network team wrote, "We still hope you can provide the key to us this week because thousands of users are waiting to get their assets back."

     

    In today's news, $60M was stolen from crypto exchange Liquid, Avalanche Foundation launched a $180M incentive scheme, and Bitpanda raised $263 million in a Series C.

     

    Read on!


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    Liquid Gets Drained

     

    According to a tweet today, Japanese crypto exchange Liquid has verified a security breach, which saw approximately $80 million in digital assets stolen from the platform.

     

    The exchange stated that only its warm wallets were compromised, adding that the remaining funds are being moved into cold storage for security, while withdrawals and deposits on the platform have been suspended temporarily.

     

    Although Liquid has yet to confirm the actual amount of the stolen assets, Cointelegraph reports that the hackers appear to have taken more than 107 BTC, 9,000,000 TRX, 11,000,000 XRP, and almost $60 million worth of ETH and ERC-20 tokens.

     

    Cointelegraph

    An Avalanche of Funds

     

    The Avalanche (AVAX) Foundation, the group behind the Avalanche blockchain, has launched Avalanche Rush, a new $180 million incentive scheme.

     

    For the initial phase of the initiative, the foundation has distributed $30 million in AVAX across three protocols in the hopes of attracting additional DeFi assets and applications to the network.

     

    Leading DeFi protocols such as Aave (AAVE) and Curve (CRV) are among the first to join the scheme, along with BENQI (QI) and Stake DAO (SDT).

     

    TheBlockCrypto

    Austrian Panda Triples Valuation

     

    Digital investment platform Bitpanda (BEST) revealed on August 17 that the company had raised $263 million in a Series C investment round.

     

    The Austrian fintech startup is now valued at $4.1 billion, more than three times its prior estimation of $1.2 billion.

     

    The platform currently has 3 million users and claims to be "on track to achieve 6x customer growth year over year," with revenues forecasted to climb sevenfold in 2021 compared to the previous year.

     

    Bitcoin.com


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    Application-Specific Integrated Circuit (ASIC)
    Application-Specific Integrated Circuit (ASIC) refers to computer equipment which are specialized for a specific use, rather than general use. An example of ASIC would be Bitcoin mining machines that are made to solve the SHA-256 algorithm repeatedly and in orders of magnitude quicker than general use hardwares (eg. graphic cards). Initially developed only for the Bitcoin algorithm, the development, sale and usage of ASIC quickly became a lucrative industry as it expanded to cover many other cryptocurrencies. It is worth noting that ASICs are not used only in the crypto scene - appliances that are made to do specific functions can also be equipped with ASIC chips for efficiency purposes.

     

    Learn about other Crypto terms here

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