Binance looking to spend $1B on deals in 2022; 2 million BNB stolen in BSC bridge hack

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The biggest news in the cryp­tos­phere for Oct.7 includes Binance fix­ing the BSC bridge exploit after 2 mil­lion BNB were stolen, Bitcoin’s sink­ing fol­low­ing new U.S. pay­roll data, and the sec­ond group of attack­ers tak­ing advan­tage of the BSC bridge exploit to steal over 60 ETH from Binance by cre­at­ing a coin.

Cryp­toSlate Top Stories

Binance resumes BSC bridge operation after 2M BNB exploit

Binance (BNB) sus­pend­ed deposits and with­drawals from its BNB Smart Chain on Oct.6 due to an exploit. A hack­er man­aged to stole 2 mil­lion BNB.

In the ear­ly hours of Oct. 7, Binance announced that the prob­lem was fixed, and the chain resumed operation.

Bitcoin sinks as U.S. payroll data shows 263K new jobs added in September

The U.S. Bureau of Labor Sta­tis­tics (BLS) dis­closed non-farm pay­roll data for Sep­tem­ber. The data indi­cat­ed that employ­ment had increased by 263,000 new jobs, which pulled the unem­ploy­ment rate at 3.5% below the expect­ed 3.7%.

BTCUSDT
BTCUSDT

Bit­coin (BTC) respond­ed to this news by decreas­ing by 1% on the 15-minute can­dle to see $19,800.

Grifters rug over 60 ETH from spoof token created after Binance exploit

Some mali­cious actors took advan­tage of the Binance cross-chain exploit by cre­at­ing a token “BNBHACKERINU” imme­di­ate­ly after the attack. Attack­ers used it to steal over 60 Ethereum (ETH).

The attack­er ded­i­cat­ed his address as the lead deploy­er, which allowed him to take BNBHACKERINU tokens out of wal­lets and trans­fer them any­where he want­ed. By doing so, the attack­er mint­ed over one quadrillion tokens.

Accord­ing to on-chain sleuth ZachXBT, this attack­er was not the same as the ones who exploit­ed the cross-chain bridge.

Sushi price rises 6.6% following $5.3M investment from GoldenTree

Cryp­toSlate data showed that Sushiswap (SUSHI) spiked by 6.6% in the last 24 hours. It has been fol­low­ing an upward trend through­out the month, record­ing a 24.4% increase in sev­en days and a 19% surge in the last 30 days.

Ana­lysts tied the pos­i­tive sen­ti­ment in SUSHI to the $5.3 mil­lion invest­ment the project acquired from a pri­vate asset man­age­ment firm called GoldenTree.

Luna Foundation blames litigations for non-distribution of assets to Terra holders

Luna Foun­da­tion Guard (LFG) tweet­ed to say that it has been try­ing to dis­trib­ute the remain­ing assets of the Ter­raform Labs to token hold­ers to cov­er up for their loss. How­ev­er, LFG claimed its efforts had been halt­ed due to ongo­ing litigations.

The com­mu­ni­ty respond­ed quite furi­ous­ly. Fat­Man­Ter­ra com­ment­ed on the post by list­ing the time­line and said the foun­da­tion had plen­ty of time to hold and airdrop.

Reserve bank of India outlines CBDC blueprint

The Reserve Bank of India (RBI) released a paper to announce that it will soon start the pilot phase of its dig­i­tal Rupee. The arti­cle also includ­ed the moti­va­tion behind cre­at­ing the dig­i­tal Rupee, design choic­es, and tech­ni­cal con­sid­er­a­tions for the pilot phase.

The doc­u­ment stated:

“It is the respon­si­bil­i­ty of the cen­tral bank to pro­vide its cit­i­zens with a risk-free CBDC which will pro­vide the users the same expe­ri­ence of deal­ing in cur­ren­cy in dig­i­tal form, with­out any risks asso­ci­at­ed with pri­vate cryptocurrencies.”

Decentraland dispute claims its virtual world platform is a ghost town

On Oct. 6, Dap­pRadar data indi­cat­ed that Decen­tra­land (MANA) had only 30 active dai­ly users, which Cryp­toSlate report­ed about.

A Decen­tra­land rep­re­sen­ta­tive reached out to Cryp­toSlate to clar­i­fy that the num­ber of dai­ly active users was much high­er than 30. Accord­ing to the spokesper­son, the num­ber of unique vis­i­tors has exceed­ed 10,000 five times over the last month. It was 7,871 on Oct. 6, and the aver­age num­ber is 8,590.

Ethereum Classic’s Twitter account repurposed for Ergo

Ethereum Classic’s (ETC) old Twit­ter account changed hands. The han­dle @eth_classic and its 670,000 fol­low­ers were giv­en to Ethereum’s PoW rival Ergo (ERG).

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes

Bank­rupt cryp­to lender Cel­sius (CEL) filed Sched­ules of Assets and Lia­bil­i­ties and State­ments of Finan­cial Affairs as a part of its Chap­ter 11 bank­rupt­cy, which includes Cel­sius users’ names and trans­ac­tion information.

Twit­ter react­ed fierce­ly to this doc­u­ment and snapped at Cel­sius for “dox­ing” its users.

US DOJ charges man for using BTC to launder $5.4M in drug trafficking money

The U.S. Depart­ment of Jus­tice (DOJ) argued that John Khuu earned $5.4 mil­lion from drug traf­fick­ing and laun­dered it through Bit­coin. DOJ claimed that Khuu sold coun­ter­feit phar­ma­ceu­ti­cal drugs and sub­stances on the dark web and got paid in Bitcoin.

Research Highlight

News from around the Cryptoverse

Binance could spend $1 billion on deals in 3 months

Binance’s CEO Chang­peng Zhao told Bloomberg News that the exchange could spend $1 bil­lion on invest­ment deals by the end of the year.

CZ said the cur­rent mar­ket might hold risks and pains but also opportunities.

Malaysia announces plans to build a public blockchain

Malaysia announced via a press release that it col­lab­o­rates with tech­nol­o­gy part­ners to cre­ate a pub­lic blockchain. The coun­try aims at deploy­ing the most exten­sive dig­i­tal ser­vices into Web3.

Crypto Market

In the last 24 hours, Bit­coin (BTC) decreased by 2.9 % to sink to $19,458, while Ethereum (ETH) also fell by 2.45% to see $1,326.

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