Evening News | Defiance founder's hot wallet stolen due to phishing email; Bridgewater Associates plans to make its first investment in a crypto fund

Organizer: Richard Lee, Chain Catcher

"What are the truly important news today?"

1. Defiance founder's hot wallet hacked due to phishing email, 60 NFTs including Azuki and CloneX transferred

This morning, OpenSea data showed that 60 NFTs, including 17 Azuki and 5 CloneX, were transferred from the wallet address of Defiance Capital founder Arthur, with a minimum value of at least $850,000 based on floor prices.

Arthur later announced on Twitter that the theft occurred due to a spear-phishing attack (an email or electronic communication scam targeting specific individuals, organizations, or businesses). Arthur stated that he received an email with an attachment that appeared to be from a company under the Defiance Capital portfolio, and the content was related to the crypto industry. Arthur downloaded the attachment, which turned out to be a regular PDF document, so he did not suspect anything at the time.

Arthur suspects this was a targeted, social engineering attack, saying, "They might be targeting all crypto figures." (Source link)

2. Geely Holding establishes global blockchain headquarters and partners with privacy public chain Concordium to set up Geely Blockchain Innovation Application Center

Geely Holding announced yesterday that its global blockchain headquarters project will be located in Wuxi Economic Development Zone, and it has partnered with the Swiss Concordium Foundation to establish the Geely Blockchain Innovation Application Center in Wuxi Economic Development Zone. This center will provide high-performance, low-cost, regulatory-compliant, and strong privacy core technology support for Geely Holding's global blockchain headquarters and participate in technological innovation and standardization work. The project aims to empower areas such as industrial internet, supply chain traceability, carbon neutrality, and the metaverse, accelerating the implementation of blockchain in the automotive and other industries.

According to previous reports, last February, Geely reached a cooperation with the enterprise-level privacy trading network Concordium to establish a joint venture in China, leveraging Concordium's blockchain technology to provide blockchain-based business models and distributed applications (DApps) to Chinese clients, including those in the automotive industry. Geely Holding and Concordium will hold 80% and 20% of the joint venture's shares, respectively, and will jointly operate and manage it. (Source link)

3. GitCoin establishes nonprofit foundation as the legal entity of GitCoin DAO

The Ethereum community's open-source software fundraising platform GitCoin voted to approve a community proposal that the newly established nonprofit organization, the Gitcoin Foundation, will become the legal entity of Gitcoin DAO. Additionally, assets under Gitcoin Holdings will be transferred to the Gitcoin Foundation, including the time-lock contract of the DAO treasury and the intellectual property for public goods financing.

According to the community proposal, the Gitcoin Foundation is registered in the Cayman Islands and was established earlier this year. The Gitcoin Foundation will authorize DAO voting rights, the appointment/removal rights of directors, members, or supervisors, and other reserved powers regarding fund disposal. Gitcoin Holdings is the development company of Gitcoin, established in 2017.

As such, the Gitcoin Foundation will provide limited liability for GTC holders regarding DAO actions, comply with tax requirements, and be able to enter into contracts, hold assets (including intellectual property), split operational organizations, execute contracts, etc. (Source link)

4. Sushiswap upgrades MISO to a permissionless multi-chain IDO platform

Sushiswap announced today that it will upgrade its token issuance platform MISO to a fully permissionless multi-chain IDO platform. The new version of MISO utilizes a set of energy-efficient smart contracts from Sushi, opening the token sale process for project parties.

The new MISO currently operates on the Harmony and Moonbeam blockchains, allowing anyone to launch their tokens in these two blockchain ecosystems. (Source link)

5. Curve community passes proposal to deploy on Celo public chain

The Celo community passed a governance proposal early this morning to deploy Curve on the Celo public chain.

It is reported that the Celo Foundation will provide $7 million worth of CELO token incentives through a $100 million "DeFi for the People" program to provide liquidity for Curve. Stablecoins on Celo will be listed on Curve, offering CRV holders the opportunity to earn trading fees. Additionally, the Curve community will also provide CRV tokens as incentives. (Source link)

6. 0xMaki proposes integration of Stargate cross-chain bridge in Sushi governance forum
Sushi community manager Tangle and former Sushi head 0xMaki jointly proposed in the Sushi governance forum to integrate Stargate to facilitate the transfer of omnichain native assets and networks. By allowing users to move freely between assets and networks, a better user experience for proposals across multiple networks will be achieved, which will help unleash the power of Sushi. The proposal states that Stargate will help the Sushi community achieve this integration for free.

It is reported that the Stargate cross-chain bridge was developed by the interoperability protocol LayerZero, which recently launched and introduced the SGT token, currently achieving a TVL of $1.03 billion. 0xMaki announced his departure from Sushiswap last year and recently announced joining LayerZero as Chief Strategy Advisor. (Source link)

7. Media: Algorand is working with regulators to develop a privacy layer

According to Forkast, Algorand founder and MIT professor Silvio Micali stated on Tuesday at the Australian Blockchain Week that Algorand is collaborating with regulators to develop a privacy layer, ensuring that its privacy features are not used for money laundering and other criminal activities.

Additionally, Silvio Micali revealed that Algorand is also developing consortium chains and cross-chain bridges. The consortium chain will allow developers to build ecosystems independent of the main Algorand blockchain and support the operation of central bank digital currencies (CBDCs). (Source link)

8. Bridgewater is planning its first investment in a crypto fund

Insiders revealed that according to Bridgewater's plans for the first half of the year, the company is preparing to deploy a small portion of its funds directly into digital assets. Another person familiar with the hedge fund's crypto trading plans stated that Bridgewater intends to support an external crypto investment tool, which is currently under investigation, including liquidity, service providers, and more. (Source link)

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

1. "Ethereum's next milestone upgrade? Vitalik explains what Danksharding really is"

Ethereum co-founder Vitalik Buterin recently proposed a new sharding design for Ethereum—Proto-danksharding (also known as EIP-4844). What exactly can this technology bring? Vitalik Buterin wrote an article addressing related technical questions.

2. "Arthur, founder of DeFiance Capital: The secrets to betting on DeFi projects"

DeFiance Capital has the largest DeFi fund in Asia—valued at $500 million. Arthur Cheong (Arthur0x), the founder of DeFiance, recently shared on the Bankless podcast how he turned a six-figure portfolio into a nine-figure one in just three years. In this article, he discusses the fundamental elements he focuses on in protocols and the metrics he uses for valuation, as well as which tokens he believes are currently undervalued.

3. "Dragonfly Capital partner: 11 legal pitfalls crypto startups need to watch out for"

Crypto startups often focus on technology, marketing, and community but tend to overlook legal aspects. Given the rapidly evolving laws and regulations, there is no template for crypto law. A partner at Dragonfly Capital aims to provide some operational tips for startup founders based on years of close experience, such as how crypto startups can establish legitimacy to prepare for the long term, what common pitfalls exist, and what kind of infrastructure they should build.

4. "Avalanche Q1 ecosystem development report: How are underlying technologies and ecosystem progress?"

Looking back at the public chain market in the second half of last year, Avalanche saw localized hotspots in DeFi, NFT, GameFi, Web 3.0, etc. The progress of inter-institutional cooperation and subnet collaboration in Avalanche has brought new expectations, with various discussions emerging in the public chain ecosystem, crypto community, and social media, generating significant interest. This report mainly organizes the recent development of the Avalanche ecosystem, on-chain data progress, financing information, etc., analyzing Avalanche's data growth, narrative angles, and development trends for reference.