Evening News | Cross-chain aggregation protocol Li.Finance was hacked; CoinHu will全面停止运营 starting today

Organizer: Linqi, Chain Catcher

"What are the truly important news today?"

1. Cross-chain aggregation protocol Li.Finance hacked, losing approximately $600,000

The cross-chain aggregation protocol Li.Finance announced in a blog that its smart contract was hacked on March 20, resulting in approximately $600,000 stolen from 29 wallets. The vulnerability has now been fixed.

Chengdu Chain Security pointed out that there was a call injection attack in the smart contract function, which could control the parameters of the call by constructing malicious data (_swapData). In this attack, the attacker maliciously constructed the callTo address to correspond to the token contract address and called the transferFrom function of the token contract to transfer tokens from the victim's address.

Li.Finance stated that among the 29 affected wallets, the project immediately reimbursed 25 of them (86%), totaling $80,000. For the remaining 4 wallets (with a nominal scale of approximately $517,000), to reduce project financial losses, the team proposed converting the lost funds into angel investments in LI.FI and is contacting the respective address owners. (Source link)

2. FTX establishes "FTX Australia," has obtained regulatory approval to operate in Australia

FTX announced the establishment of FTX Australia Pty Ltd, focusing on strategic layout in the Australian local market. It is reported that "FTX Australia" will be headquartered in Sydney, the financial center of Australia, and will hold an Australian Financial Services License (AFSL) while serving as an issuer of over-the-counter derivatives, providing products including options, futures, contracts for difference (CFD), and underlying digital assets, leveraged tokens, etc. (Source link)

3. Bihu will fully cease operations starting today, related APP functions will be gradually shut down

Bihu announced that it will fully cease operations starting March 21, 2022, and related functions in the Bihu APP will be gradually shut down, including but not limited to content publishing, comments, advertisement publishing, content settlement, and reward distribution. The mobile APP will temporarily retain KEY and some candy withdrawal functions, and will gradually remove the 30-day restriction on KEY unlocking and MYKEY EOS contracts in Bihu.

In addition, the KEY/DG exchange platform is expected to launch in late April 2022, supporting exchanges for KEY stored on the Ethereum network, EOS network, and in Bihu. KEY holders are advised to follow instructions to exchange for DG, and the remaining KEY from the foundation, incentive pool, promotion operation pool, team option pool, and donations to MYKEY will not participate in the exchange. (Source link)

4. Data: 51 blockchain industrial parks have been established nationwide, covering 20 provinces

As of now, there are a total of 51 blockchain industrial parks in the country, with 9 in Zhejiang, 7 in Guangdong, and 5 in Shanghai, ranking the top three. The construction of blockchain industrial parks in China covers 20 provinces (municipalities/autonomous regions). Industry insiders indicate that blockchain industrial parks are continuously improving, and most domestic blockchain industrial parks have begun to transition from the early exploration stage to project incubation and industrial application implementation.

Additionally, several responsible persons from blockchain industrial parks stated that the overall scale of domestic blockchain industrial parks is still small, lacking experience in integrating blockchain technology with the real economy. Currently, the main pain points and difficulties in the development of blockchain industrial parks include the need to explore application models and paths, urgent strengthening of talent cultivation, and the lack of synergy in development. (Source link)

5. Data: Total Ethereum burn exceeds 2 million ETH, total value approximately $5.7 billion

According to data from ultrasound.money, the total Ethereum burn has exceeded 2 million ETH since the London upgrade, with a total value of approximately $5.7 billion. The application that has burned the most Ethereum is OpenSea, which has burned over 230,000 ETH, accounting for about 11.5% of the total, while Ethereum transfers and Uniswap V2 rank second and third, accounting for 9.5% (190,000 ETH) and 6.35% (127,000 ETH), respectively. (Source link)

6. Layer 2 network zkSync total locked value exceeds $140 million, setting a new historical high

According to L2BEAT data, the total locked value of the zero-knowledge proof-based Layer 2 network zkSync has exceeded $140 million, setting a new historical high, with a 7-day increase of 85.53%. Additionally, the net inflow of funds into the zkSync network in the past week has approached $25 million.

"What articles are the editors of Chain Catcher reading?"

1. "In-depth Study: Why Multicoin Capital Can Succeed?"

In this article, The Generalist presents a comprehensive overview of the development history of Multicoin Capital and analyzes its investment strategies and styles through investment cases such as The Graph, Helium, EOS, and Solana, revealing the secrets of one of the most successful venture capital funds in the crypto industry.

2. "A Brief Overview of Four GameFi Models and Their Characteristics"

This article starts from the historical development of GameFi and delves into the gameplay models of blockchain games, the potential economic systems that may form within the games, the influence of guild DAOs, and discusses the future development direction of GameFi.