Cointelegraph By Zhiyuan Sun
Azuki DAO, an unofficial community decentralized autonomous organization surrounding the namesake nonfungible token collection, has announced its rebranding to “Bean" as it drops a proposed lawsuit against the NFT collection’s founder, Zagabond, over a $39 million minting affair. In a statement sent to Cointelegraph, Azuki developers said the DAO will...
Crypto exchange HTX, formerly Huobi Global, will resume deposits and withdrawals within 24 hours after suffering a $13.6 million exploit on Nov. 22.According to its official announcement, the exchange promised to "fully compensate for the losses caused by this attack and 100% guarantee the safety of user funds." In...
HTX, formerly Huobi Global, suffered an estimated loss of $13.6 million as part of a $86.6 million exploit against the HECO Chain bridge on Nov. 22. According to a report from blockchain security firm Cyvers, the losses stem from three compromised hot wallets, with users and exchange assets swapped for Ether (ETH) and...
Our weekly roundup of news from East Asia curates the industry’s most important developments.
Hot week for Hong Kong exchanges
Hashkey Exchange — one of the first regulated crypto exchanges in Hong Kong — has announced insurance coverage for...
The Texas State Securities Board has accused a network of companies under the "GS" brand and operating from Germany of fraudulent activities "tied to digital assets, investments in a staking pool in a proprietary metaverse." The network of companies is controlled by Josip Dortmund Heit.As described by regulators on...
Disney has created a nonfungible token (NFT) platform together with blockchain and metaverse firm Dapper Labs.According to the Nov. 14 announcement, Disney will tokenize its iconic cartoon characters from the past century onto its NFT marketplace, dubbed Disney Pinnacle. The platform will also include icons from Pixar as well as...
Decentralized U.S. dollar stablecoin protocol Raft claims that despite multiple security audits, the firm still suffered a security exploit leading to the loss of $6.7 million last week.According to the project's Nov. 13 post-mortem report, a few days prior, a hacker borrowed 6,000 Coinbase-wrapped staked Ether (cbETH) on decentralized...
Taiwan cryptocurrency exchange Bitgin is under investigation by the country's police force for money laundering. According to local news reports early this week, Yuting Zhang, the firm's COO, was arrested by Taiwanese police for his alleged role in the "Eighty-Eight Guild Hall" money laundering incident. Previously Zhemin Guo and Chengwen...
Taiwan's financial watchdog, the Financial Supervisory Commission (FSC), has awarded the country's first security token offering (STO) license to Cathay Securities.According to local news reports on Nov. 9, Cathay received regulatory approval for its "Sunshine Green Yield" STO bonds with a time to maturity of six years, initial...
The Bank of International Settlements (BIS), a coalition of the world's central banks, criticized stablecoins as being "not a safe store of value" in its latest research report dated Nov. 8.In outlining its reasons, the BIS explained that from January 2019 to September 2023, fiat-backed stablecoins maintained their...