Mango, ParaSwap, and TempleDAO are the latest victims in the past week visited by hackers, as well as the platform’s privacy issue, and it looks like inflation is still picking up, as September CPI data shows this. Let’s review the main news of the market with CoinCu this week.
Market figures for the week
The crypto market’s capitalization: On October 10, the market cap hits a weekly high at $947 billion, the average market cap of the week is $914.7 billion.
Trading activity dropped significantly: The average trading volume of the week was $53.5 billion.
The Cryptocurrency Fear & Greed Index: The index was 20 points on October 14, when US CPI data was released, however, it quickly returned to “Extreme Fear” the next day with 24 points.
Interesting news of the week
Mt. Gox Creditors Has A Deadline To Apply For A Refund In Early 2023
Creditors of the collapsed cryptocurrency exchange Mt. Gox have until January 2023 to register and choose a repayment option as part of the compensation plan. For more specific information, you can read the article below:
Dapper Labs Explains Why It Is Blocking Russian Accounts
Dapper Labs, an NFT startup, has verified that it is restricting cryptocurrency accounts with connections to Russia and said that this is due to new EU sanctions against Russia. For more specific information, you can read the article below:
Justin Sun Behind Huobi Acquisition?
As announced, Huobi Global has been acquired by About Capital Management fund. But WuBlockchain has learned from multiple sources that Justin Sun is indeed the core investor of this M&A fund. Justin Sun himself was at the delivery location in Singapore on October 8. For more specific information, you can read the article below:
DeGods Updated 0% Royalties For Biggest NFT Projects
Degods – the #1 NFT community in Solana with the ambition of the biggest NFT projects in the world – has updated its new project royalties on its Twitter account – next Y00ts. For more specific information, you can read the article below:
ParaSwap Plots Decreased Token Emissions With New Social Escrow Scheme
The community of ParaSwap is considering a proposal that will alter how users receive rewards, which come in the form of native token emissions and redistribution of transaction fees. For more specific information, you can read the article below:
CNN Shutting Down Vault Project, Community Suspicious “Rug Pull”
Collectors who acquired NFTs from Vault by CNN were left high and dry when the news broadcaster abruptly chose to discontinue the initiative. For more specific information, you can read the article below:
TempleDAO Hacked $2.3 Million, Users Will Be Compensated
TempleDAO has just undergone mining that made crypto tokens worth around $2.3 million. The project claims it will implement these remedies for all affected users. For more specific information, you can read the article below:
Solana Mango Was Attacked With Price Manipulation, Losing Over $100 Million
The Solana Mango ecosystem DeFi platform was hacked and lost $114 million. Initial investigation showed that the attackers were able to manipulate the price of its Mango collateral to obtain large loans from the Mango treasury. The platform is still investigating the incident, users need to pay attention before the results are released. For more specific information, you can read the article below:
Yuga Labs Investigated By SEC, ApeCoin Price Drops
Yuga Labs, the developers of Bored Ape Yacht Club NFTs, is under investigation by the Securities and Exchange Commission over whether sales of certain of its items violate federal law. For more specific information, you can read the article below:
DeBank’s Wallet Rabby Swap Smart Contract Gets Exploited
Rabby, the wallet developed by DeBank, tweeted that there is an exploit on Rabby Swap smart contract. If users have used it, please revoke all existing approvals on all chains for Rabby Swap. The team is actively working to solve it. For more specific information, you can read the article below:
Legal Firm Roche Freedman Removed From Litigation Lawsuit Tether, Bitfinex
Even though controversial founder Kyle Roche filed to withdraw from the case, the law firm Roche Freedman was removed. For more specific information, you can read the article below:
Bitcoin and the rest of the market seem to be coping with a general downturn in the economy. By the time the CPI data was released, a sharp drop had taken place across most coins. We can wait longer in this harsh crypto winter. Follow CoinCu to follow market volatility news through daily and weekly news updates.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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