Daily Bullets 💊: 9 Figure Exploits Just the Norm Now, Innit?

💊 M6 Daily Bullets 💊 Tuesday, September 20th

Sep 20, 2022

Markets are looking heavy again after yesterday’s bounce. Bitcoin battling for $19k and ETH ranging in the $1300s. Crypto is such a wild space - another 9 fig exploit based on a bug that’s been known and discussed since last week. This all feels like fuel for regulators. So many exploits, hacks, rugpulls, scams, blowups - they’ll have no trouble painting this space as the wild west.

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Crypto market making firm Wintermute has been hacked for $160M but the firm remains solvent. 90 different assets affected. 'Vanity address' bug blamed despite recent 1inch warning

Alameda to repay $200M to bankrupt lender Voyager, 6,553 in Bitcoin ~ $128M and 51,204 in ETH ~ $70M. If all goes smoothly, Voyager will then send Alameda back ~ $112M of FTT and $49M in SRM

Nasdaq is preparing to launch an institutional crypto custody service pending regulatory approval

In the civil complaint against crypto influencer, Ian Balina, the SEC suggested that it believes the U.S. government has jurisdiction over all Ethereum transactions. Dangerous path

Cosmos is likely to announce interchain security feature next week

BNB Chain has launched AvengerDAO, a new community-driven security initiative to help users against scams, malicious actors and possible exploits

MicroStrategy now holds almost 130K Bitcoin after buying 301 Bitcoin for an average price of $19,851 per coin

MakerDAO governance votes yes to adding GnosisDAO token as collateral for DAI

Nova Labs inks agreement with T-Mobile to cover 5G dead spots in Helium network

CoinShares launches algorithmic trading tool for retail investors named HAL in a nod to the late Hal Finney as well as Stanley Kubrick's film, 2001: A Space Odyssey

Residents of Colorado can now pay state taxes with cryptocurrencies using PayPal. Payment takes place through the PayPal Cryptocurrencies Hub and incurs additional fees

The People's Bank of China plans to extend the trial of its e-CNY CBDC to Jiangsu, Hebei and Sichuan as well as Guangdong

Eurocoinpay, a Spanish cryptocurrency exchange, has partnered with Mastercard to launch one of the first cryptocurrency based cards in Spain

Coinbase will update the exchange's fee schedule, changing tiers and pricing for trade tiers above $1M in volume

Robinhood announced the listing of USDC, the first cryptocurrency stablecoin to be listed on Robinhood

Coinbase Wallet has announced the partnership with ENS Domains to create Coinbase wab3 usernames

Euler Finance (EUL) will get listed on FTX

Binance - Updates on APR for ETH 2.0 staking & distribution of BETH rewards

Digital bank Revolut, which includes crypto trading among its services, suffered a breach which may have exposed the data of over 50,000 customers

Following several rounds of voting and governance proposals, Tribe DAO confirmed that it would repay victims of the Rari hack

Introducing self-service SaaS platform KillSwitch - aims to detect exploitation TXs before their block inclusion and take contingency measures to block the attack or prevent assets from being stolen

Solana-based Hxro launches bitcoin derivatives marketplace

Aptos - The Journey from AIT3 to Longevity Testnet

Icebreaker Finance launch a $300M pool on Maple to provide secured debt financing to public and private blue-chip bitcoin mining companies

What is Numia Data? - aims to provide Cosmos chain data as a public good

Thales officially expands and deploys on Arbitrum with Chainlink Data Feeds

What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?

📊 Data:

TL;DR: We got some money today flowing into Chiliz and quite a bit flowing out of USDC. Weekly also continues showing outflow from USDC. For NFTs, Hedz and Azukis getting some volume and smart money buys/sweeps

Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to…

- Inflow (1D): CHZ ($6.7M), stETH ($4.5M), COMP ($2.7M), alUSD ($2.2M), WBTC ($915k)

- Outflow (1D): USDC ($105M), WETH ($13.7M), RPL ($12.5M), USDT ($8.5M), cCOMP ($5.4M)

Weekly:

- Inflow (7D): cETH ($61.1M), cUSDC ($56.2M), aSTETH ($22.4M), stETH (20.3M), USDT ($18.9M)

- Outflow (7D): USDC ($242.5M), WETH ($19.6M), RPL ($11M), LDO ($6.7M), MPL ($6.2M)

Nansen NFT Hot Contracts:

Hedz by Matt Furio: 1334 ETH
Azuki: 897 ETH
MultibeastsbyHaas: 717 ETH
ENS: 618 ETH
Legendary Dancing Seahorse: 540 ETH

What is the Data telling you? See anything that sticks out to you?

🎓 Research:

Vitalik - DAOs are not corporations: where decentralization in autonomous organizations matters - source

Messari - State of Ethereum - source

Nansen - Solana Q2 ecosystem report - source

Nansen - Fantom - Q2 ecosystem report - source

Master Web3 Fundamentals: From Node To Network - source

Have you seen our institutional-quality research?

M6 Research

🖼 NFTs/Metaverse News:

Today is the celebration of the NFT Day. September 20, 2017, is the day Dapper Labs Chief Technical Officer, Dete Shirley, published ERC-721, which is the standard from which NFTs are built

OpenSea will soon support Arbitrum

OpenSea upgrades NFT drops with 'immersive minting experience' - new UX means creators will be able to launch their collections with dedicated drop pages and greater discoverability

NFT lender BendDAO proposes $80M treasury investment fund to help the platform cope better with the NFT bear market

IMG has been appointed as the exclusive global licensing representative to launch consumer products and experiences for the Solana-based PFP project, Okay Bears

The Sandbox has held its first hybrid digital and real-life wedding in its metaverse

Downtown West Palm Beach in Florida has become home to a new NFT restaurant, the Vinyl Fish Club (VFC) - using NFTs as membership tokens for diners to gain access to special events both on and off the premises, as well as a concierge service

🌍 Crypto Twitterverse:

tuba 🦈 @0xtuba

wintermute's address had 7 leading 0's according to @k06a's estimation, can brute for this in 50 days using 1000 GPUs the attacker was definitely a pro

Mudit Gupta @Mudit__Gupta

Wintermute was hacked for ~160m a few hours ago. I took a quick look and my best guess is that it was a hot wallet compromise due to the Profanity bug that was publicly disclosed a few weeks ago.

olimpio.lens ⚡️ @OlimpioCrypto

MONDAY AIRDROP STRATEGY: 5Birds1Stone 🪂 Today's birds: @ArrakisFinance, @AtlendisLabs, @SyndicateDAO, @rocifi, @0vixProtocol What's the Strategy? Prepare USDC and start earning DeFi passive income, while potentially getting airdrops Strategy time: 1hr Let's start 👇

Graham Stephan @GrahamStephan

Strap in - The New York Times just published a report on Congress trading stocks and the findings are incredible! - 97 Congress Members flagged - 3,700 trades with a potential conflict of interest - Stock plays with staggering accuracy It's a big club, and we ain't in it 🧵

Cumberland @CumberlandSays

ETH/NASDAQ correlation is nearly back to the highs of the year – a feature which has overshadowed the idiosyncratic dynamics of the Merge (for now) 🧵👇

Jake Chervinsky @jchervinsky

Policymaking behind the scenes is a hugely complex negotiation among many parties with different goals. As with most negotiations, striking a deal involves some compromise & leaves most parties feeling less than fully satisfied. This is how crypto legislation will happen too.

📈 Fundraises:

European venture firm Digital Transformation Capital Partners (DTCP) announced the first close of its third fund, having raised $300M

Fraud detection platform Sardine has raised $51.5M seven months after announcing its Series A raise. Investors include Visa, ConsenSys and a16z

GRNGrid, a renewable energy-focused blockchain that encourages green transactions, received a $50M investment from GEM Digital

One of the creators of the Grand Theft Auto series, David Jones, has backed blockchain gaming studio Random Games in a $7.6M round

Web3 financial tooling software Tres has raised $7.6M led by Boldstart Ventures. Other backers include Blockdaemon and Alchemy

Smoothie raises $1.2M to build the product hunt for web3

Bixin Ventures invests in Aptos Labs as part of a broader fundraising round led by FTX Ventures and Jump Crypto

Near Protocol Spinoff, Open Web Collective, a blockchain and web3 accelerator, has launched a new division called OWC Ventures to invest in early-stage crypto startups

Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!