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Alex bridge on BNB Smart Chain drained of $4.3M after suspicious upgrade — CertiK

The deployer account changed an Alex contract’s implementation address, and multiple tokens were subsequently drained from its bridge.

According to a May 14 report from blockchain security platform CertiK, the Alex protocol bridge on the BNB Smart Chain network suffered $4.3 million in suspicious withdrawals just after its contract was suddenly upgraded.

Alex is a Bitcoin layer-2 protocol. According to its official website, it provides decentralized finance applications on Bitcoin. Its bridges are used to transfer assets from other networks, such as BNB Smart Chain and Ethereum, to its own network.

Blockchain data confirms that the Alex deployer account performed five identical upgrades to the “Bridge Endpoint” contract on BNB Smart Chain beginning at 3:56 pm UTC. Approximately $4.3 million worth of Binance-Pegged Bitcoin (BTC), USD Coin (USDC), and Sugar Kingdom Odyssey (SKO) were subsequently removed from the BNB Smart Chain side of the bridge.

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Bitcoin-Based Decentralized Exchange Token Surges 158% in Just Seven Days, Defying Crypto Downtrend

Bitcoin-Based Decentralized Exchange Token Surges 158% in Just Seven Days, Defying Crypto Downtrend

A Bitcoin (BTC)-based decentralized exchange platform (DEX) is skyrocketing despite turbulence within the crypto markets. New data reveals that AlexGo (ALEX), a decentralized trading platform for BRC-20 tokens that is set to launch next week, surged from its seven-day low of $0.0595 on May 6th to a new all-time high of $0.154 just six days later, […]

The post Bitcoin-Based Decentralized Exchange Token Surges 158% in Just Seven Days, Defying Crypto Downtrend appeared first on The Daily Hodl.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets

AI-Focused Cryptogpt Raises  Million in Series A Funding to Expand Into Asian MarketsA Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company […]

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Three Arrow’s Su Zhu reveals latest attempts at a comeback post-FTX

The fall of FTX appears to have brought back certain crypto "villains” out from hiding, one even wants to start a new podcast series.

Three Arrows Capital co-founder Su Zhu looks like he may be attempting a comeback amid the fallout over FTX and Sam Bankman-Fried — seen by some as the crypto industry’s newest supervillain.

After months of radio silence, Su Zhu remerged on Twitter on Nov. 9, the day after FTX revealed it was suffering from a “liquidity crunch.”

As the FTX saga has unfolded, Zhu has continued to post on Twitter, offering sage advice through poetic metaphors, while tweeting veiled criticism of Sam Bankman-Fried and his handling of FTX.

In his latest Nov. 27 Twitter thread Zhu revealed his next steps — the launch of a “long-form video podcast series” that discusses “life, belief systems, and mental health” which will be launched with a collaborator and friend named “Cliff.”

In the tweet, Zhu also makes reference to Allah, a sign some believe means he had converted to Islam.

Recently, Zhu also hinted at creating a new trading firm in a Nov. 22 interview with Bloomberg saying it could be an “all-weather fund” — made to perform reasonably through all market conditions — that invests in traditional financial assets and crypto.

Zhu’s latest quasi-announcement has attracted more criticism than support, however, with many drawing a contrast between his actions at 3AC with the ideologies presented in Islam.

Blogger and nonfungible token (NFT) project founder Foobar asked “what does Allah say about interest-bearing loans?”

Another user pointed out that interest is “haram”, or forbidden under Islamic law.

Over the last few weeks, the community has noticed a return of so-called “crypto villains” to Twitter following the collapse of FTX.

Related: It’s time for crypto fans to stop supporting cults of personality

Another Three Arrows Capital co-founder, Kyle Davies recently reappeared on Twitter after months of radio silence, posting on Nov. 13 on Twitter that he’d spent the last few months seemingly looking at grass and painting.

He even appeared on CNBC’s Squawk Box program on Nov. 16 to allege Alameda “hunted” 3AC’s positions.

Alex Mashinsky, the founder of the bankrupt lending platform Celsius Network has also made a reappearance after FTX’s downfall, appearing in a series of Twitter Spaces over the last few weeks.

In a Twitter Space on Nov. 27 Mashinsky said he “loves the idea” of getting FTX to “pay for the hole” and asked listeners to “make a lot of noise” and convince bankruptcy lawyers for Celsius and its Committee of Unsecured Creditors to sue FTX to pay for Celsius’ cash deficit.

It’s estimated that Mashinsky, Zhu, and Davies owe creditors around $6.3 billion.

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Stacks AMM Revealed, Native Bitcoin Swaps Executed With Proof-of-Transfer Protocol

Stacks AMM Revealed, Native Bitcoin Swaps Executed With Proof-of-Transfer ProtocolAccording to a recent report, the first trust-less swap between the Bitcoin blockchain and Stacks protocol has been executed. The co-founder of the Stacks protocol, Muneeb Ali tweeted about the native bitcoin swap and said the progress is a big deal. Trust-less Native Bitcoin Swap Executed With an NFT Called ‘Boombox’ On July 23, a […]

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Socios partners with Turkish soccer club union to explore digital revenue models

Turkey’s union of soccer clubs partners with Socios to improve fan engagement in the Turkish Süper Lig through technology and innovation.

The soccer world continues to seek out new revenue models amid the coronavirus pandemic, which saw the suspension of league matches in some countries, and new partnerships form to find sustainable answers in the digital space.

Representing soccer clubs playing in the Süper Lig, Turkey’s primary soccer league, the Turkish Union of Clubs has partnered with fan engagement platform Socios.com to promote innovation in the country’s soccer landscape, according to a July 1 announcement.

“Few countries in the world match the unique passion that Turks feel for the game of football,” Socios and Chiliz CEO Alex Dreyfus told Cointelegraph:

“This partnership will benefit the entire Turkish football ecosystem in a critical moment for the industry, in which it is crucial for sports properties to shift their fans’ role from passive to active.”

Socios already launched fan tokens for six Turkish soccer teams playing across different leagues. Along with over 40 global sports organizations, Turkey’s Alanyaspor, Bursaspor, Galatasaray, Göztepe, İstanbul Başakşehir and Trabzonspor are using fan tokens and Socios’ voting and reward app to engage and monetize their fans.

Related: Crypto fan tokens a mixed bag for game-deprived soccer fans

The new partnership makes the sports-focused blockchain company the fan engagement partner of the Union of Clubs. Socios will help the union to apply new technologies to Turkish professional clubs to improve fan engagement, generate new revenue models and increase financial sustainability.

As part of the deal, the Union of Clubs and Socios.com will co-host a number of workshops and seminars to engage the industry’s main players in conversations around the latest trends affecting the business of football, the announcement reads.

Ticket sales and streaming deals account for a big part of revenue for the soccer industry. Since the games are either suspended for a period of time or played without a full audience in most leagues during the pandemic, clubs are in need of fresh business models. Clubs see fan tokens as a strategic move to enhance their digital presence and stay closer to fans.

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