Evening News | U.S. government report states that North Korea's cybersecurity threats have targeted cryptocurrency organizations; The Sandbox is seeking to raise $400 million
Terra has held over 2.2 million CVX, surpassing FraxFinance to become the largest DAO holder of CVX.Organizer: Cookies, Chain Catcher
'"What important events have occurred in the past 24 hours?"
1. U.S. Government Report: North Korean-supported cybersecurity threats have targeted exchanges, DeFi protocols, blockchain games, NFTs, and other crypto organizations and individuals
The FBI, CISA, and the U.S. Treasury Department jointly released a Cybersecurity Advisory (CSA), stating that since at least 2020, North Korean-supported Advanced Persistent Threats (APTs) have begun targeting various organizations in the blockchain and cryptocurrency industry, including crypto exchanges, DeFi protocols, blockchain gaming companies, crypto trading firms, crypto venture capitalists, and individual owners holding large amounts of tokens and NFTs. The report aims to provide stakeholders in the blockchain technology and cryptocurrency industry with information about tactics, techniques, and procedures (TTPs) as well as indicators of compromise (IOCs) to help them identify and mitigate cybersecurity threats against cryptocurrencies. (Source link)
2. Andre Cronje states he will attempt to engage with and develop regulated cryptocurrencies, has launched multiple entities with others
Andre Cronje stated in a blog post, "Instead of trying to fight regulators due to cryptocurrency regulation, it is better to attempt to engage with and develop regulated cryptocurrencies." He mentioned that he has launched multiple entities with others to provide, advise, and formulate regulated crypto access strategies, focusing on compliant PCI and DSS HSM custody solutions; risk, credit reporting, and compliance; multi-currency payment channels and infrastructure; tokenized portals for note exchanges and securities exchanges; senior secured floating-rate corporate DeFi bonds; crypto ETFs and mutual funds; and national blockchains. (Source link)
3. Bloomberg: The Sandbox seeks to raise $400 million at a $4.8 billion valuation
Silvergate Capital, the parent company of the U.S. crypto-friendly bank Silvergate Bank, reported in a filing with the U.S. Securities and Exchange Commission that Silvergate Bank's net income (net income available to common shareholders) for the first quarter was $24.7 million, a 34% increase quarter-over-quarter and a 94% increase year-over-year, with its digital currency clients rising from 1,381 in Q4 2021 to 1,503 in Q1 2022.
Additionally, in the first quarter of this year, the Silvergate Exchange Network (SEN) processed $142 billion in transfers, a 35% decrease quarter-over-quarter, and Silvergate Bank's digital currency fee revenue was $8.9 million, a 4.3% decrease quarter-over-quarter. (Source link)
4. Public chain project Aptos releases latest roadmap, incentivized testnet to launch on May 16
The public chain project Aptos has released its latest roadmap, with user registration starting on May 13, requiring users to provide a verified GitHub account to participate. The incentivized testnet will launch on May 16, initially limiting the number of validating nodes to 100.
The roadmap aims to prepare for the launch of the Aptos mainnet, divided into four phases: launching the testnet in May, staking test tokens in June, on-chain governance and upgrades in July, and dynamic validator topology in August. (Source link)
5. Terra holds over 2.2 million CVX, surpassing FraxFinance to become the largest DAO holder of CVX
Data from Delphi Digital shows that over the past four months, Terra has accumulated over 2.2 million CVX, surpassing FraxFinance to become the largest DAO holder of CVX.
In the past 30 days alone, Terra has accumulated approximately 649,000 CVX. Given that both Terra and Frax hold large amounts of CVX, they are likely to guide significant incentives and create deep liquidity within the 4pool. (Source link)
6. Crypto exchange CoinDCX completes $135 million Series D funding at a $2.15 billion valuation, with participation from Coinbase Ventures and others
Indian crypto exchange CoinDCX has completed a $135 million Series D funding round at a $2.15 billion valuation, led by Steadview and Pantera, with participation from Coinbase Ventures, Kingsway, DraperDragon, Republic, and Kindred. This round of funding will be used to expand its product offerings and talent base, as well as strengthen compliance.
CoinDCX is one of the largest exchanges in India, founded in 2018 by Gupta and Neeraj Khandelwal, primarily focused on buying and selling crypto tokens. It also offers other crypto-based financial products, such as loans. (Source link)
"What are some great articles worth reading in the past 24 hours?"
1. "The Ring Dream of Algorithmic Stablecoins: After LUNA, There Will Be No Next UST"
Algorithmic stablecoins have brought a new narrative: breaking free from the constraints of backing and relying on algorithms for anchoring. This is a change born for the people, where everyone can share in the stablecoin pie through a decentralized stabilization mechanism. However, in this revolution of algorithmic stability, countless projects have perished on the road to conquering Middle-earth.
Currently, UST is gaining momentum, becoming the ring bearer that has seized the crypto magic ring. This algorithmic stability leader, waving the banner of decentralization, has rekindled hope for the future of algorithmic stability. Recently, NEAR completed a remarkable $350 million funding round and immediately revealed its algorithmic stability plan: binding NEAR with USN and launching its own Anchor. Suddenly, everyone believed that UST's success indicated that the path of algorithmic stability is viable and worth pursuing. But is this really the case?
According to Chainalysis's Q1 2022 report, hackers stole $3.2 billion worth of crypto assets in 2021, but in the first three months of 2022, hackers stole approximately $1.3 billion in crypto assets from exchanges, DeFi protocols, and ordinary users, with 97% coming from DeFi protocols.
Among the various hacker groups, the North Korean hacker group Lazarus has recently gained the most attention. According to a report from the U.S. Treasury Department, this group is behind the theft of the Ronin cross-chain bridge, which resulted in losses of up to $620 million, and its Ethereum address has been added to the U.S. sanctions list. Previously, this group was considered the mastermind behind numerous theft incidents at crypto exchanges such as Bithumb and KuCoin, often employing phishing attacks.
Now, Lazarus Group is seemingly becoming one of the most destructive hacker organizations in the crypto ecosystem. So how did this organization come to be? How do they typically operate?
3. "First-Class Research Report: 'Move to Earn' Stepn"
Stepn is the first sports app built on Solana that combines blockchain token incentives, introducing the innovative concept of "Move to Earn," pioneering the empowerment of sports apps through blockchain. Currently, the protocol has been officially launched for about three months, but its daily active users have surpassed 10,000 and continue to grow. The economic model of this protocol draws from the mainstream dual-token model of Gamefi, still possessing certain death spiral risks, but current data indicates that the model's development is relatively healthy. With its first-mover advantage and good product design, Stepn has become the leading project in this sector.
