Evening News | Hop Protocol announces the issuance of token HOP and airdrop; LFG purchases an additional $1.5 billion worth of BTC
Amber Group is raising a new round of financing with a valuation of $10 billion; the NFT market Zora has completed a $50 million financing.Organizer: Cookies, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Luna Foundation Guard purchases an additional 37,863 BTC, worth approximately $1.5 billion
Luna Foundation Guard (LFG) announced the purchase of a total of 37,863 bitcoins (approximately $1.5 billion) through over-the-counter trading with institutional digital asset firms Genesis and Three Arrows Capital, resulting in an average price of about $39,616. The institution's total bitcoin holdings now amount to 80,394, ranking seventh among bitcoin whale addresses. (Source link)
2. Amber Group is seeking new funding at a $10 billion valuation
Global crypto financial services provider Amber Group is discussing a new funding round at a $10 billion valuation. The Singapore-based startup has begun negotiations with potential investors for this new round, which would be more than three times its previous valuation of $3 billion.
In February of this year, Amber Group completed a $200 million funding round at a $3 billion valuation, led by Temasek, with participation from Sequoia China, Pantera Capital, Coinbase Ventures, and Tiger Global Management. (Source link)
3. NFT marketplace Zora raises $50 million, led by Haun Ventures
NFT marketplace Zora has completed a $50 million funding round, led by Haun Ventures, with participation from Coinbase Ventures, Kindred Ventures, among others, bringing the company's valuation to $600 million.
Zora is an Ethereum-based marketplace for buying, selling, and managing NFTs, having hosted multiple NFT auctions, including the first TikTok-inspired NFT and an auction for the Warhol Foundation. (Source link)
4. Cross-chain bridge Hop Protocol to issue token HOP and airdrop 8% to early users
Cross-chain bridge Hop Protocol announced the establishment of Hop DAO and will issue the token HOP, with a total supply of 1 billion tokens. Of this, 60.5% will be allocated to the Hop DAO treasury, 22.45% to the initial development team (with a 3-year vesting period and a 1-year lock-up), 6.25% to investors (with a 3-year vesting period and a 1-year lock-up), and 8% will be airdropped to early network participants.
Specifically, for the airdrop, 3.35% will go to users of the Hop cross-chain bridge (with at least 2 cross-chain transactions and a trading volume of $1,000), 2% to liquidity providers, 2% to Bonders (with a 1-year lock-up), 0.1% to the first 500 Hop Discord participants and 79 Twitter users, 0.05% to external Hop contributors, and 0.5% to past Authereum users of deployed accounts, with a snapshot taken on April 1. Users can check their eligibility for the airdrop at this website.
The project stated that among the initially eligible 43,058 addresses for the airdrop, 10,253 have been identified as witch attacker addresses and removed from distribution. In the next two weeks, the project will accept reports of any undiscovered witch attacker addresses and reward those reporters with 25% of the saved tokens. (Source link)
5. DeFi lending protocol bZx team and its DAO organization sued for negligence and illegal actions related to theft incident
Victims of the bZx theft incident filed a lawsuit against the project team and its DAO organization in the Southern District of California this Monday, with 14 plaintiffs claiming losses ranging from $800 to $450,000, totaling approximately $1.6 million.
The lawsuit names defendants including bZx protocol co-founders Kyle Kistner and Tom Bean, bZx investors Hashed International and AGE Crypto, and bZeroX, which created and controlled the protocol until August 2021. It also lists bZx DAO, Ookie DAO, and the company LeverageBox, which operates the Fulcrum trading platform, as defendants.
The complaint further states that since the bZx Protocol claims to be a DAO lacking any legal procedures or recognition, it can be viewed as a "general partnership," meaning each partner is jointly liable to the plaintiffs and must repay all debts, the document states. Jason Harrow, a partner at the law firm Gerstein Harrow LLP, stated in a release that everyone involved in DAO governance is responsible for the protocol's negligence and illegal actions.
Previously, in November 2021, bZx developers lost over $55 million in assets due to a phishing attack that resulted in the theft of private keys. (Source link)
6. Two main offenders sentenced to 12 years in prison for stealing over 50 million yuan worth of virtual currency from a trading platform
A recent judgment document from the Beijing Court's trial information website disclosed a criminal lawsuit case. On October 16, 2020, Ling M. and Ling R. were prosecuted for stealing virtual currency totaling 620,000 Tether, 12,687.9956 Ether, and 149.99627927 Bitcoin (totaling over 50 million yuan, later returned virtual currency valued at over 48 million yuan) from an account on a digital asset trading platform (XX Global XX Ltd.) using technical means to invade the computer information system. The two sold part of the virtual currency on the trading platform, making a profit of over 2 million yuan.
According to the lawsuit document, the two main offenders discovered a negative loophole during the transfer of the platform's system contract account to the spot account. By tampering with the network request packet to change the amount to a negative number, they increased the account balance and withdrew funds in a short time, thus illegally profiting. The maintenance party of the trading platform, a Beijing-based information technology company, reported the incident after identifying Ling M. as the user who first conducted such an attack through platform log analysis. On October 21, 2020, the public security authorities arrested the two defendants.
The document also pointed out that "this case does not determine the criminal amount of the two based on the platform's trading value of over 50 million yuan, but the defendants' profit of over 2 million yuan from selling the stolen virtual currency is objective and real, thus this case uses the amount of the proceeds from the crime as the basis for convicting and sentencing the defendants."
The Beijing Chaoyang District People's Court found that Ling M. and Ling R.'s actions constituted theft, sentencing them to 12 years in prison, a fine of 200,000 yuan, and deprivation of political rights for two years. (Source link)
"What interesting articles are worth reading in the past 24 hours?"
To broaden the use cases of the UST algorithmic stablecoin across Ethereum and compatible public chains, and to find new ways to alleviate the high capital costs of providing a 20% annual yield through the Anchor lending protocol, on April 1, 2022, a Terra member Zon (@ItsAlwaysZonny) officially launched the 4Pool proposal in the Terra Research Forum, announcing a collaboration with Frax Finance and Redacted Cartel, with Olympus joining later.
The four parties will collaborate to launch a new stablecoin trading pool, 4Pool: USDT, FRAX, USDC, UST, on the stablecoin trading platform Curve, challenging the existing largest stablecoin trading pool, 3Crv (USDC, USDT, DAI), thus igniting a new wave in the Curve Ecosystem War.
2. "From Investment, Incubation to Service: How DAO is Changing the Venture Capital Market?"
The lower costs of forming and coordinating crypto entities will enable DAOs to not only spread more widely but also experiment around new novel incentives and ownership structures. Through permissionless innovation and access to a talent pool of open-source contributors, DAOs will ultimately form more flexible, programmatic, and expressive organizational structures that can better aggregate, retain top contributors, and attribute value to the best contributors.
