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Venture capital funding for crypto is seeing a massive increase this year. According to PitchBook, the median fund size in 2024 has risen by 65.1%, reaching $41.3 million. Mid-sized funds between $100 million and $500 million are now common, balancing growth potential with manageable deployment challenges. However, despite the influx of capital, VCs are becoming more cautious, taking longer to raise and close funds due to market uncertainties. Notably, in Q2 2024, VCs invested nearly $3.2 billion into crypto, a 28% rise from the previous quarter, though the number of deals dropped slightly. Recent standout projects include Balance ($30M), Hypernative ($16M), and PuffPaw ($6M).
🚨 Critical Bug Found and Fixed in Circle's Noble-CCTP on Cosmos Network
On August 27, Asymmetric Research uncovered a critical bug in Circle's Noble-CCTP, part of the USDC Cross-Chain Transfer Protocol on the Cosmos network. The vulnerability could have allowed a malicious actor to mint fake USDC tokens by bypassing the message sender verification process. Fortunately, no funds were lost, and Circle has since fixed the issue. This incident highlights ongoing security challenges in cross-chain bridges, echoing past vulnerabilities like the Wormhole bridge exploit in 2022.
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🚨 Alert: New Malware 'Styx Stealer' Targets Windows Users
Styx Stealer, a powerful new crypto-clipping malware, is now targeting Windows computers, silently hijacking cryptocurrency transactions and stealing sensitive data like private keys and browser cookies. Discovered by Check Point Research, Styx is an upgraded version of Phemodrone Stealer, exploiting a now-patched Windows Defender vulnerability. Styx can monitor clipboard activity to replace copied crypto wallet addresses with those of attackers, affecting wallets across nine major blockchains (Bitcoin, Ethereum, Monero, Ripple, Litecoin, Bitcoin Cash, Stellar, Dash и Neo). Stay vigilant!
Zerion offer to mint Owly Zerion for upcoming surprise drop 👀
🎮 Sonic's Testnet Soars: Over 1 Million Active Addresses! 🚀
Sonic, the layer 2 gaming network on Solana, has reached a major milestone: over 1 million active addresses and 600 million transactions on its testnet! As the first Solana virtual machine-powered gaming platform, Sonic is reshaping blockchain gaming.
Highlights:
Explosive Growth: Players are engaging with games like Rage Effect and LowLifeForms. Organic Community: Co-founder Chris Zhu notes strong user demand as Sonic builds an organic community.
Future Optimization: The testnet helps optimize throughput and network stability. Sonic is setting new standards in Web3 gaming.
Stay tuned for more exciting developments! 🌟
🌟 Gitcoin Grants 21: Empowering Arbitrum and Celo! 🌟
Gitcoin has launched Grants 21, running from August 7 to 21, featuring ecosystem support for Arbitrum and Celo, focusing on governance and community empowerment.
Highlights:
🔹 Arbitrum: 150,000 ARB pool for decentralized apps and developer tools.
🔹 Celo: $75,000 pool for real-world use cases like regenerative finance.
🔹 Funding: Over $800,000 in matching funds across 11 rounds.
🔹 Impact: Since 2019, Gitcoin has distributed $60 million to 3,700+ projects, with 270,000 unique users.
Join Gitcoin Grants 21 and help shape blockchain innovation! 🚀
For more details, visit the official blog.
ZKX's Abrupt Shutdown Sparks Outrage: What Happened? 🔥
ZKX, a trading platform on the Starknet layer-2 network, shocked investors with its sudden shutdown on July 30, citing economic challenges but leaving stakeholders in the dark.
Key Reactions 🚨
Amber Group: Shocked by the closure, Amber had been providing liquidity and was left holding 3 million ZKX tokens. The lack of transparency set a troubling precedent.
Investor Concerns: HashKey Capital criticized ZKX for not providing clear financial details, eroding trust and confidence.
Defending the Decision 🛡️
Starknet Foundation: Defended ZKX, attributing the closure to poor decisions rather than malicious intent.
Founder’s Clarification: Eduard Jubany Tur stated that 95% of user funds were returned, highlighting underestimated costs and revenue shortfalls.