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Not All Heroes Wear Capes, Some Wear White Hats!
A quick thinking user saved the Blueberry Protocol Foundation from huge losses during an exploit.
Danielle du Toit
February 23, 2024
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Here's what we've got for you today:
Crypto Conmen Go Corporate: Scam Service Registers as a UK Company
Reddit Discloses Bitcoin and Ether Holdings in IPO Filing
Cardano’s DeFi Landscape Set for Transformation with Indigo V2 Upgrade
Kraken Challenges SEC Lawsuit: A Battle Over Regulatory Overreach
The Crypto Grab team registered as a UK business to cloak their phishing operations in legitimacy, while a quick thinking user saved the Blueberry Protocol Foundation from huge losses during an exploit.
The scam-as-a-service wallet drainer, Crypto Grab, has officially registered as a business in the UK to appear more legitimate.
Meanwhile, the DeFi protocol Blueberry became the target of an exploit, leading to an initial loss of 457 ETH from its funds.
A user by the handle c0ffeebabe.eth managed to intervene and recover 366 ETH, securing them in the Blueberry multisig wallet, minus a 91 ETH validator payment, greatly mitigating the exploit's impact.
Reddit has allocated a portion of its surplus funds into investing in Bitcoin (BTC) and Ethereum (ETH).
Reddit filed with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) on the New York Stock Exchange, planning to list under the ticker "RDDT."
In its filing, Reddit revealed investments in Bitcoin (BTC) and Ethereum (ETH) from its excess cash, and mentioned acquiring ETH and Polygon (MATIC) for virtual goods sales.
This filing is a big step in Reddit's years-long journey to go public, after an initial non-public draft submission to the SEC in December of 2021.
Indigo, a decentralized application on the Cardano blockchain, has unveiled plans for an upgrade known as Indigo V2.
Indigo's core feature is its autonomous synthetics protocol on the Cardano blockchain, which allows for the creation of synthetic assets (iAssets) that replicate the price movements of real-world assets.
The upcoming "Indigo V2" upgrade aims to enhance these capabilities through the introduction of the iAsset Redemption Margin Ratio (RMR), promising significant improvements to the platform.
This development coincides with a noticeable increase in DeFi activity on the Cardano network, with the Total Value Locked (TVL) reaching $393.9 million according to DefiLlama, suggesting strong growth in Cardano’s DeFi sector.
Kraken has moved to dismiss a lawsuit from the SEC, challenging allegations that it operated without proper registration and co-mingled customer funds.
Kraken's defense highlights worries that the SEC's claims could pave the way for a broad expansion of regulatory control over various transactions and assets, impacting more than just the cryptocurrency sector.
Kraken also condemned the SEC's broad interpretation of what constitutes an investment contract, suggesting it could wrongly include everyday items and commodities as securities.
This expansive definition could potentially encompass a wide range of non-traditional assets, like sports memorabilia, trading cards, and luxury goods, under the securities umbrella.
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