Daily Report | Ethereum community proposes new standard ERC-7265 to address DeFi hacking attacks; Binance has engaged with Hong Kong regulators in the past few months
The Australian Securities and Investments Commission searches Binance's Australian office to continue the investigation into "Binance's closure of derivatives business"; Web3Go completes $4 million financing;整理：bayemon.eth, ChainCatcher
"What important events have occurred in the past 24 hours"
1. Digital asset transfer solution Bequest Finance completes $2.75 million funding, led by Nyca Partners
Bequest Finance, a project aimed at simplifying the transfer of digital assets in trusts and estates, has completed a $2.75 million funding round, led by Nyca Partners. Bequest Finance stated that it has also received support from Mark Cuban and other fintech-focused companies.
Bequest claims to provide an innovative non-custodial digital asset management solution that simplifies the transfer of digital assets in trusts and estates. Additionally, with Bequest, estate planners can compliantly add digital assets to their clients' estate inventories. (Source link)
2. South Korean crypto finance company Delio transfers about $7.07 million in crypto assets before suspending deposits and withdrawals
According to Digital Asset, South Korean crypto finance company Delio transferred all of its virtual assets worth 9.2 billion won (approximately $7.07 million) before halting deposits and withdrawals on June 14. The background and purpose of Delio's transfer of all virtual assets before the suspension can only be confirmed through a compulsory investigation by the prosecution.
A representative of Delio stated after the withdrawal suspension that rumors in the community regarding "customer virtual asset withdrawals, financial fraud, and cashing out in the name of employees" are untrue. (Source link)
3. Nansen: BAYC on-chain royalty revenue exceeds $58 million, Azuki over $43 million
According to data from Nansen's NFT God Mode dashboard, the on-chain royalty revenue for BAYC on Ethereum has exceeded $58 million, Otherdeed for Otherside over $52 million, Azuki over $43 million, and Pudgy Penguins over $7.2 million. (Source link)
4. Korean media: Do Kwon's LFG wallet recently transferred 5,292 BTC to a new address
The Luna Foundation Guard (LFG) wallet address held by Terraform Labs CEO Do Kwon transferred all 5,292 BTC (approximately $163 million) to a new anonymous wallet address, which had not previously been linked to Do Kwon. Additionally, this wallet withdrew 351 BTC on May 8.
Before the transfer, three transactions that appeared to be test transfers were conducted between the two wallets, exchanging 0.0211 BTC on June 22 and 23.
Previous report indicated that Swiss prosecutors froze approximately $26 million in assets belonging to Do Kwon and others, including Bitcoin, stored in the digital asset bank Sygnum in Zurich, Switzerland. (Source link)
5. Tencent News "Periscope": Binance has been connecting with Hong Kong regulators in recent months
In recent months, most major crypto companies with Chinese backgrounds have sought to connect with regulators in Hong Kong, including Cobo and Zhao Changpeng's Binance Group.
It is reported that the regulatory bodies, led by the Hong Kong Securities and Futures Commission and the Monetary Authority, have changed their earlier "hard to deal with" image and become relatively approachable and communicative. Including the Secretary for Financial Services and the Treasury of the Hong Kong SAR Government, Xu Zhengyu, who proactively invited financial professionals related to virtual assets in Hong Kong to meet during the pandemic.
Currently, in addition to having launched procedures for virtual currency trading fund licenses and exchange licenses, Hong Kong's regulatory bodies will soon introduce matters related to stablecoin licenses and are even exploring diversified virtual currency derivatives, such as spot Bitcoin ETFs.
Two individuals attempting to apply for exchange licenses indicated that they expect the costs required before submitting the application to be at least around HKD 100 million, with most of the costs attributed to system technology, aside from management costs, and this is merely a ticket to apply for an exchange license in Hong Kong. (Source link)
6. Vietnam's cybercrime investigation team investigates Pi Network
Vietnam's cybersecurity and high-tech crime prevention department has launched an investigation into Pi Network due to its "complex business model," with Vietnamese officials questioning whether Pi Network may be involved in fraudulent activities against citizens or data collection. (Source link)
7. Bloomberg: Australian Securities and Investments Commission searches Binance's Australian office as part of the "Binance closes derivatives business" investigation
According to ChainCatcher, Bloomberg reported that the Australian Securities and Investments Commission (ASIC) searched Binance's Australian office on Tuesday as part of an ongoing investigation into the platform's now-closed derivatives business.
Previous report indicated that in April, ASIC revoked the derivatives financial services license of Binance's Australian division. After the license was revoked, Binance's Australian customers could no longer increase their derivatives positions or open new positions on Binance. Additionally, Binance has ceased all AUD trading pairs since June 1. (Source link)
8. Web3 DID credit protocol Getaverse completes $2.5 million funding
Web3 DID credit protocol Getaverse has completed a $2.5 million seed and institutional funding round, receiving investments from several well-known VC firms including Starry Capital, LD Capital, YBB Foundation, ChainUp Capital, Hotcoin Global, AC Capital, IBG, Polkafund, Catcher VC, and BlockACE.
Getaverse, incubated by KuCoin Labs, aims to create a growth-oriented credit protocol based on Web3 DID for digital certification systems, providing credit value for building a blockchain society. It is currently deployed across multiple chains, with registered users exceeding 140,000+. Innovative Web3 projects can access and retrieve data through Getaverse's open API interface, including DEX, NFT, DeFi, GameFi, and other ecological applications.
It is reported that Getaverse will launch GETA IDO at 08:00 Singapore time on July 5, and will debut on Gate.io at 20:00 on July 6.
9. OPNX CEO: No internal market-making activities, FTX creditor registration process to be further optimized
One-stop exchange OPNX's official Twitter summarized its CEO Leslie Lamb's responses during an interview regarding OPNX's trading volume, FTX creditor registration, trust mechanisms, and compliance.
Regarding trading volume, Lamb pointed out that OPNX has offered generous market maker programs aimed at building a diverse user base, and OPNX itself has no internal market-making activities. The FTX creditor registration process will be further optimized, allowing users to easily convert FTX creditor points into tokens for trading. In terms of trust mechanisms, OPNX uses oUSD as a credit currency, achieving on-chain isolation of collateral, allowing traders to understand the platform's health status at any time. Regarding compliance, Lamb stated that OPNX will continue to engage in dialogue with local regulatory authorities to maintain compliance and legality.
At the same time, Lamb also noted that OPNX will continuously increase liquidity while ensuring transparency, promoting more traders and institutions to participate, and is still expanding its market scale in Southeast Asia. (Source link)
10. Data intelligence company Web3Go completes $4 million funding, led by Binance Labs, with participation from HashKey Capital and others
Blockchain startup Web3Go has completed a $4 million seed funding round. Binance Labs led the round, with participation from HashKey Capital, NGC Ventures, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital.
Web3Go has launched its Data Intelligence Network (DIN) service, which opened for registration on July 5. This service proposes an AI-native digital asset certification solution based on Crypto, leveraging AI and big data infrastructure, allowing users to utilize on-chain and off-chain data sets, knowledge bases, and AI to create various types of AI-native digital assets. These digital assets include trading information streams, trading strategies, trading assistant bots, as well as entertainment, education, and social-type intelligent assistants; at the same time, the network uses blockchain to certify AI-native digital assets. (Source link)
11. Ethereum community proposes new ERC 7265 standard to address DeFi hacking attacks
Members of the Ethereum community have proposed a new ERC 7265 standard that would allow DeFi protocols to integrate a "circuit breaker," enabling DeFi protocols to add a backstop in their smart contracts to prevent the loss of all tokens in the event of a hacking attack.
The ERC 7265 standard is a proposed standard, and it remains to be seen whether the Ethereum core team will accept and implement it as the final standard. (Source link)
"What excellent articles are worth reading in the past 24 hours"
1.
### "What new standards are reshaping the NFT creation space besides ERC-721 and ERC-1155?"
The main reason for the slow development of NFT practicality and applications is limited by the scalability of blockchain, while Solana has made several new attempts in NFT applications due to its unique architecture, leading the way in innovation of NFT token standards. 2.
### "RWA Discussion: Underlying Assets, Business Structure, and Development Path"
Since the beginning of the year, discussions about RWA (real world assets) have become increasingly frequent, with some viewpoints suggesting that RWA will trigger the next bull market. Some entrepreneurs have also adjusted their focus to RWA-related tracks, hoping to leverage the gradually warming narrative to boost business growth.
RWA refers to mapping assets from traditional markets onto the blockchain in the form of tokens for web3.0 users to buy and sell. RWA tokens have the right to the income of the assets. A few years ago, STOs primarily focused on corporate bond financing, while the scope of RWA is now broader: it is not limited to the primary market of traditional assets; any assets circulating in the primary and secondary markets can be tokenized and brought onto the blockchain, allowing web3.0 users to participate in investment. Therefore, the narrative of RWA encompasses a rich variety of asset types and a wide range of yields. 3.
As of July 5, the cumulative minting volume of CyberProfile NFT has reached 1.243 million, with the number of wallet addresses holding them at 1.218 million, making CyberConnect the first truly million-user Web3 social network protocol.
Founded in 2021, CyberConnect aims to return the ownership and usage rights of social data to users, allowing them to truly own and control their social identity, relationships, content, and monetization methods on social networks. It has built an account system centered around CyberProfile NFT, serving as a passport for users in the Web3 world.
What stories lie behind CyberConnect's growth from zero to a million users? What new features will product upgrades bring? Will the playability of the Link3 product that users care about improve? How is the development status of the decentralized social track? ChainCatcher invites CyberConnect founder Wilson to discuss these questions one by one.
