Evening News ｜ A certain MEV bot was attacked with losses reaching 20 million dollars; Bilibili launched the "High Energy Chain" app for on-chain asset management
In March, the total amount of cryptocurrency investment and financing reached 769 million USD; Alchemy Pay received a 10 million USD investment from DWF Labs.Organizer: flowie, ChainCatcher
"What Important Events Happened in the Last 24 Hours"
1. Bilibili Launches "High Energy Chain" App for On-chain Asset Management
Bilibili has launched the "High Energy Chain" App for on-chain asset management, developed by Shanghai Donghun Cultural Media Co., Ltd. The app features on-chain address management, asset viewing, and search functions, and serves as an entry point to the Bilibili High Energy Chain ecosystem. (Source link)
2. An MEV Bot Suffers $20 Million Loss Due to Attack During Bundle Trading
Twitter user @GaoFlynn stated: "Several MEV arbitrageurs have suffered heavy losses, as there is a malicious actor in one link of the entire mechanism chain, which could be from builder to relayer to validator. This might be the first major turning point that shakes the entire MEV ecosystem.
In simple terms, the hacker obtained the bundle transaction of a major sandwich arbitrage bot, which contained three transactions: 1. large buy, 2. the transaction of the user being sandwiched, 3. large sell. The hacker obtained this bundle, disassembled it, replaced the second transaction with their own, exchanged the bot's funds for cheap tokens, and then the third transaction failed."
Additionally, according to @punk3155's tweet, a certain MEV bot has suffered the aforementioned attack, with total losses reaching $20 million. (Source link)
3. Data: 84 Financing Events Disclosed in the Crypto Market in March, Totaling $769 Million
According to statistics from the crypto data platform RootData, the crypto market disclosed a total of 84 financing events in March 2023, a decrease of 31.14% from 122 in February. The total financing amount in March was approximately $769 million, down 18.71% from $946 million in February; among them, infrastructure, DeFi, and gaming ranked as the top three sectors by financing amount, totaling $363 million, $117 million, and $101 million respectively.
Moreover, the top three projects by financing amount are the cryptocurrency hardware wallet Ledger ($108 million), the Ethereum restaking protocol EigenLayer ($50 million), and the AI and machine learning-based blockchain platform Fetch.ai ($40 million), along with independent game developer CCP Games ($40 million) and decentralized internet alternative tomi ($40 million).
Additionally, Web3 venture capital and market maker DWF Labs was the most active investor in March, disclosing a total of 9 investments. (Source link)
4. South Korean Prosecutors Have Investigated and Seized Over $200 Million in Properties from Terra Executives and Employees
According to a report by South Korea's KBS, the Southern District Prosecutors' Office in Seoul has investigated and seized approximately 270 billion won (about $205 million) in assets from Terraform Labs co-founder Daniel Shin and seven others to recover their illicit gains. These assets include three properties valued at 154.1 billion won, 79.1 billion won, and 40.9 billion won respectively.
Additionally, South Korean prosecutors have frozen the properties, vehicles, and stock assets of early investors and employees listed as suspects in this case. (Source link)
5. Damus Integrates ChatGPT, Supporting Multiple Users to Interact with the Same ChatGPT Bot
The open social application Damus, based on the Nostr protocol, announced on social media that it has integrated ChatGPT optimized for chatting, allowing multiple users to interact with the same ChatGPT bot. The address is "npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4". (Source link)
6. Alchemy Pay Secures $10 Million Investment from DWF Labs at a $400 Million Valuation
Singapore-based payment service provider Alchemy Pay has secured a $10 million investment from market maker DWF Labs at a valuation of $400 million to expand its business in South Korea.
It is reported that in the past six weeks, DWF Labs has conducted eight rounds of investment or financing of at least $10 million in Web3 projects, totaling $165 million. (Source link)
7. Arbitrum Foundation May Sell ARB Tokens Before Voting on Proposal "Approval"
The Arbitrum Foundation has begun selling ARB tokens for stablecoins before its token holder governance community "approves" the organization's nearly $1 billion budget, sparking controversy within the community.
According to sources cited by CoinDesk, Patrick McCorry stated that the Arbitrum Foundation believes the comprehensive governance package Arbitrum Improvement Proposal (AIP-1) is an "approval" of decisions it has already made, such as receiving 7.5% of all ARB tokens. To this end, the foundation has started using these tokens for the benefit of the DAO, including converting some funds into stablecoins for operational purposes. (Source link)
"What Interesting Articles Are Worth Reading in the Last 24 Hours"
1. “Vitalik: How Ethereum's Multi-Client Philosophy Will Interact with ZK-EVM?”
Ethereum founder Vitalik emphasized the importance of Ethereum's multi-client philosophy in maintaining its security and decentralization in his latest article "How Ethereum's Multi-Client Philosophy Will Interact with ZK-EVM?". Ethereum does not have a default "reference client" that everyone runs; instead, it has a collaboratively managed specification with multiple teams implementing the specification (i.e., "clients"). Vitalik highlighted the significance of ZK-EVM as a new transition that uses SNARK proofs executed by EVM and actively supports second-layer protocols like ZK Rollup on the mainnet.
However, the challenge for ZK-EVM lies in how it interacts with the multi-client philosophy. To address this issue, Vitalik suggested that each client should wait for a proof compatible with its implementation before accepting a valid block. This approach sacrifices some benefits of the multi-client paradigm but is ideal until it can be formally proven that all ZK-EVM implementations are equivalent. ZK-EVM will become the third client of Ethereum, crucial for the network's security and decentralization.
2. “Noble: Cosmos Infrastructure Born for Native General Assets and RWA Issuance”
The Noble Appchain launched on March 27, aiming to become a "world-class issuance center for interoperable digital assets." The issuance on Noble is not limited to crypto assets; it can also tokenize and issue real-world assets (RWA).
The issuance chain for general assets on Noble is an important step for the Cosmos ecosystem. Cosmonauts on each Appchain can start enjoying more IBC-native liquidity, which is a benefit brought by Noble.
Moreover, Noble can grow into an important aspect adopted by blockchain institutions and enterprises. Its potential is limitless, and all of this is built on Cosmos. This article details how Noble works.
According to a blog post by an employee earlier on Sunday, the Arbitrum Foundation began selling ARB tokens in the form of stablecoins before its token holder governance community "approved" the organization's nearly $1 billion budget.
This action sparked outrage within the community, and the price of ARB tokens dropped to around $1.15, with a daily decline exceeding 10% at one point, now rebounding to around $1.18. This article analyzes the ins and outs of this controversial event.
Within three days, the Avalanche C-chain experienced two block halts. The lack of attention to these two downtimes stands in stark contrast to the constant focus on Solana's downtimes. Why has the once highly regarded "star public chain" fallen into such obscurity? This article analyzes the causes and consequences of the two downtimes on the Avalanche C-chain and the development of the Avalanche ecosystem.
