CryptoSlate Wrapped Daily: Binance looking to spend $1B on deals in 2022; 2 million BNB stolen in BSC bridge hack CryptoSlate Wrapped Daily: Binance looking to spend $1B on deals in 2022; 2 million BNB stolen in BSC bridge hack
Attackers stole over 60 ETH from Binance by creating a token following the BSC bridge exploit, SUSHI increased by 6.6% in 24 hours following GoldenTree investment, and much more in this edition of CryptoSlate Wrapped Daily.
3 min read
Updated: Oct. 8, 2022 at 1:00 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The biggest news in the cryptosphere for Oct.7 includes Binance fixing the BSC bridge exploit after 2 million BNB were stolen, Bitcoin’s sinking following new U.S. payroll data, and the second group of attackers taking advantage of the BSC bridge exploit to steal over 60 ETH from Binance by creating a coin.
CryptoSlate Top Stories
Binance resumes BSC bridge operation after 2M BNB exploit
Binance (BNB) suspended deposits and withdrawals from its BNB Smart Chain on Oct.6 due to an exploit. A hacker managed to stole 2 million BNB.
In the early hours of Oct. 7, Binance announced that the problem was fixed, and the chain resumed operation.
.@BNBCHAIN is back online. We have now resumed @BNBCHAIN deposits and withdrawals on #Binance.
Thank you for your patience. https://t.co/icZvlWaHGi
— Binance (@binance) October 7, 2022
Bitcoin sinks as U.S. payroll data shows 263K new jobs added in September
The U.S. Bureau of Labor Statistics (BLS) disclosed non-farm payroll data for September. The data indicated that employment had increased by 263,000 new jobs, which pulled the unemployment rate at 3.5% below the expected 3.7%.
Bitcoin (BTC) responded to this news by decreasing by 1% on the 15-minute candle to see $19,800.
Grifters rug over 60 ETH from spoof token created after Binance exploit
Some malicious actors took advantage of the Binance cross-chain exploit by creating a token “BNBHACKERINU” immediately after the attack. Attackers used it to steal over 60 Ethereum (ETH).
The attacker dedicated his address as the lead deployer, which allowed him to take BNBHACKERINU tokens out of wallets and transfer them anywhere he wanted. By doing so, the attacker minted over one quadrillion tokens.
According to on-chain sleuth ZachXBT, this attacker was not the same as the ones who exploited the cross-chain bridge.
Sushi price rises 6.6% following $5.3M investment from GoldenTree
CryptoSlate data showed that Sushiswap (SUSHI) spiked by 6.6% in the last 24 hours. It has been following an upward trend throughout the month, recording a 24.4% increase in seven days and a 19% surge in the last 30 days.
Analysts tied the positive sentiment in SUSHI to the $5.3 million investment the project acquired from a private asset management firm called GoldenTree.
Luna Foundation blames litigations for non-distribution of assets to Terra holders
Luna Foundation Guard (LFG) tweeted to say that it has been trying to distribute the remaining assets of the Terraform Labs to token holders to cover up for their loss. However, LFG claimed its efforts had been halted due to ongoing litigations.
The community responded quite furiously. FatManTerra commented on the post by listing the timeline and said the foundation had plenty of time to hold and airdrop.
Excuses.
May 9 – UST depeg
May 16 (7 days) – LFG commits to small holder refund
May 28 (19 days) – You launch an entire new blockchain & conduct a mass LUNA drop
June 21 (43 days) – First Terra lawsuit is filedYou had loads of time to do a simple USDC airdrop. Why didn't you?
— FatMan (@FatManTerra) October 7, 2022
Reserve bank of India outlines CBDC blueprint
The Reserve Bank of India (RBI) released a paper to announce that it will soon start the pilot phase of its digital Rupee. The article also included the motivation behind creating the digital Rupee, design choices, and technical considerations for the pilot phase.
The document stated:
“It is the responsibility of the central bank to provide its citizens with a risk-free CBDC which will provide the users the same experience of dealing in currency in digital form, without any risks associated with private cryptocurrencies.”
Decentraland dispute claims its virtual world platform is a ghost town
On Oct. 6, DappRadar data indicated that Decentraland (MANA) had only 30 active daily users, which CryptoSlate reported about.
A Decentraland representative reached out to CryptoSlate to clarify that the number of daily active users was much higher than 30. According to the spokesperson, the number of unique visitors has exceeded 10,000 five times over the last month. It was 7,871 on Oct. 6, and the average number is 8,590.
Ethereum Classic’s Twitter account repurposed for Ergo
Ethereum Classic’s (ETC) old Twitter account changed hands. The handle @eth_classic and its 670,000 followers were given to Ethereum’s PoW rival Ergo (ERG).
So what just happened with this account? 🧵
— Ethereum Classic (@eth_classic) October 6, 2022
Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes
Bankrupt crypto lender Celsius (CEL) filed Schedules of Assets and Liabilities and Statements of Financial Affairs as a part of its Chapter 11 bankruptcy, which includes Celsius users’ names and transaction information.
Twitter reacted fiercely to this document and snapped at Celsius for “doxing” its users.
US DOJ charges man for using BTC to launder $5.4M in drug trafficking money
The U.S. Department of Justice (DOJ) argued that John Khuu earned $5.4 million from drug trafficking and laundered it through Bitcoin. DOJ claimed that Khuu sold counterfeit pharmaceutical drugs and substances on the dark web and got paid in Bitcoin.
Research Highlight
News from around the Cryptoverse
Binance could spend $1 billion on deals in 3 months
Binance’s CEO Changpeng Zhao told Bloomberg News that the exchange could spend $1 billion on investment deals by the end of the year.
CZ said the current market might hold risks and pains but also opportunities.
Malaysia announces plans to build a public blockchain
Malaysia announced via a press release that it collaborates with technology partners to create a public blockchain. The country aims at deploying the most extensive digital services into Web3.
Crypto Market
In the last 24 hours, Bitcoin (BTC) decreased by 2.9 % to sink to $19,458, while Ethereum (ETH) also fell by 2.45% to see $1,326.
Biggest Gainers (24h)
- 1inch (1INCH): +6.38%
- XRP (XRP): +4.74%
- Hedera (HBAR): +3.73%
Biggest Losers (24h)
- Reserve Rights (RSR): -8.03%
- Trust Wallet Token (TWT): -5.01%
- EOS (EOS): -3.66%
Mentioned in this article
Bitcoin 
Decentraland Bitcoin 
Ethereum 
BNB 
Ethereum Classic 
Ergo 
Celsius 
SushiSwap 
Terra 
Reserve Rights 
Trust Wallet Token 
EOS 
XRP 
1inch 
Hedera 
Binance 
Terraform Labs 
Decentraland 
Changpeng Zhao Posted In: Wrapped
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Decentraland
$0.50368
Decentraland is a decentralized virtual reality (VR) platform built on the Ethereum blockchain.
Bitcoin
$97,449.49
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,469.85
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Ethereum Classic
$27.4414
Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain – the classic version preserving untampered history prior to the July 2016 DAO hack..
Ergo
$1.80078
The Ergo platform aims to provide an efficient, secure, and easy way to implement financial contracts that will be useful and survivable in the long term.
Celsius
$0.19203
Celsius Network is a P2P decentralized lending & borrowing platform.
SushiSwap
$1.58651
SushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain.
Terra
$0.43928
Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic.
Reserve Rights
$0.01140
Reserve is a stable, global currency (a stablecoin) and a digital payment system for people and businesses in countries with high inflation..
Trust Wallet Token
$1.24681
Trust Wallet Token (TWT) is the official token of Trust Wallet, a user-friendly and versatile mobile cryptocurrency wallet that supports a wide range of assets across various blockchains.
EOS
$0.84495
EOS is a blockchain protocol that enables horizontal scaling of decentralized applications, allowing developers to efficiently create high performance distributed applications..
XRP
$2.29772
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
1inch
$0.39966
1inch is a decentralized exchange (DEX) aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes.
Hedera
$0.27127
The Hedera hashgraph platform provides a new form of distributed consensus; a way for people who don’t know or trust each other to securely collaborate and transact online without the need for a trusted intermediary.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Terraform Labs
Terraform Labs is a startup that created Terra, a blockchain protocol and payment platform used for algorithmic stablecoins.
Decentraland is a virtual reality platform powered by the Ethereum blockchain.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.