ChainCatcher news, Nirvana Finance announced its recovery plan following the hack of its protocol in July 2022. In July 2022, hacker Shakeeb Ahmed stole approximately $3.5 million in stablecoins by manipulating the protocol's pricing mechanism.After collaborating with the U.S. Department of Justice, Department of Homeland Security, and IRS, Nirvana successfully recovered the stolen funds and secured a three-year prison sentence for Ahmed, who was also ordered to return the cryptocurrency and pay $3.4 million in restitution. Nirvana plans to launch the V2 mainnet in mid-October and initiate the victim compensation process.

ChainCatcher news, according to The Block, Web3 company Nirvana Labs has acquired the multi-chain query and execution platform Vektor to enhance its multi-chain capabilities in cloud computing services, with the specific acquisition amount not yet disclosed.Vektor's integration supports over 50 protocols across more than 15 chains, enabling developers to easily and efficiently query, write, and execute activities across multiple blockchains.

ChainCatcher news, according to The Block, blockchain cloud computing company Nirvana Labs has completed a $4 million seed round financing, led by Castle Island Ventures and RW3 Ventures, with participation from BitGo Ecosystem Fund, Hash3, Third Earth, and Play Ventures. This round of financing brings the company's total funding over the past six months to $5.7 million.It is reported that Nirvana Labs is developing a cloud infrastructure designed for Web3 called Nirvana Cloud, which has been used by well-known crypto companies such as Chainlink, BitGo, Goldsky, Thirdweb, and Pairpoint.Additionally, the Web3 asset data platform RootData shows that Nirvana Labs is developing a Web3 infrastructure solution for building, managing, and supporting any blockchain application. Developers can create their own API gateways and connect to its low-latency global network nodes located in over 30 data center regions.

ChainCatcher news, according to The Block, the U.S. Attorney's Office for the Southern District of New York announced on Thursday that 34-year-old senior security engineer Shakeeb Ahmed admitted to attacking the Nirvana Finance protocol and another unnamed decentralized crypto exchange.Ahmed agreed to forfeit $12.3 million obtained from the two hacking incidents and will also pay $5 million in restitution to the victims. Ahmed faces a maximum of five years in prison and is scheduled to be sentenced on March 13, 2024.It is reported that the algorithmic stablecoin protocol Nirvana Finance suffered a flash loan attack last year, resulting in a loss of approximately 3.54 million USDC.

ChainCatcher news, the ORC-20 protocol announces that the Nirvana upgrade will take place this week.This upgrade will focus on optimizing the protocol, including the addition of support for the issuance of stablecoins, as well as enhancing the atomic trading functionality between ORC-20 tokens.

ChainCatcher news, according to PeckShield monitoring, the attacker address of the Solana ecosystem algorithmic stablecoin protocol Nirvana Finance exchanged 500,000 DAI for 261 ETH, and then sent 260 ETH to a new address (starting with 0xc3a1c7). The new address starting with 0xc3a1c7 bridged 64 ETH to the Bitcoin network via Thorchain. (source link)

ChainCatcher news, the results of the top three projects in each track of the ETH Beijing Hackathon have been announced. Top three in the Public Goods track: SLOAD, PADO, Puzzle3; Layer2 track: GasLockR, Nirvana, Signer; Open Research track: Nine Turns Ethereum, 0xdeadbeef, Centralization Risks and Optimization Solutions of Ethereum Consensus Layer.