Not All Heroes Wear Capes, Some Wear White Hats!

A quick thinking user saved the Blueberry Protocol Foundation from huge losses during an exploit.

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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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