Solana Liquidity hub Serum to be Forked after Possible Compromise in FTX Hack

Last Friday, a hacker made unauthorized withdrawals of more than $400 million from FTX. The situation further exacerbated the exchange’s insolvency crisis, which led it to file for Chapter 11 bankruptcy protection. Many Solana developers suspect the hack may have also compromised Serum, a well-known protocol that was developed by FTX and used by many apps on the Solana blockchain. (The Block)

Original Link

Comments

All Comments

Recommended for you

CointimeSG ·

Bitcoin Tumble Triggered $1.4 Billion in Liquidations

Altcoins have felt the sting, too. Ethereum was down 16% over a 24-hour period at one point, with XRP plunging 18% and Dogecoin 26%.
CointimeSG ·

Tether to make $775 million 'strategic investment' in Rumble, shares rally 44.6%

Tether, the world’s largest stablecoin issuer, has made a “strategic investment” of $775 million into the right-leaning streaming platform Rumble. Last month, it announced it would allocate up to $20 million of its excess cash reserves to bitcoin.
CointimeSG ·

Analyzing the Movement of Capital Across the Solana Asset

The last two years have been remarkable for Solana, recording a staggering price appreciation of +2,143%. In this article, we utilize the new breakdown metrics for Solana to inspect and understand the underlying capital flows responsible for the dramatic ascent.
CointimeSG ·

Bitcoin is Not an Uncorrelated Asset

Also Two Weeks of Inflows for the Bitcoin ETFs and Hawkish Tone at the Fed
CointimeSG ·

Investor lawsuit filed against Hawk Tuah memecoin creators, partners

“The HAWK Token exhibits all the characteristics of an unregistered security under established legal precedent,” litigants claimed.
CointimeSG ·

Bitcoin miners MARA, Hut 8 continue to acquire more BTC for their reserves

MARA, the largest publicly-listed miner in the U.S., acquired 15,574 BTC for about $1.53 billion. Hut 8, the eighth-largest public miner by market cap, acquired 990 bitcoin for approximately $100 million.
CointimeSG ·

A Bitcoin Reserve Act may end crypto’s 4-year boom-bust cycle

The Bitcoin Reserve Act could break the Halving cycle. Is this four year cycle going to play out differently, will we enter the mythical Supercycle?
CointimeSG ·

Rapidly-growing stablecoin issuer Usual latest to use M^0 infrastructure to launch token

Usual, the issuer of what is now the seventh-largest stablecoin, is launching an extension of M^0’s M token, called UsualM.
CointimeSG ·

Crypto liquidations hit $1B as traders were ‘unprepared for bad news’

A crypto analyst said we are yet to see the “Santa rally” the market has been hoping for after $1 billion was liquidated in the crypto markets in just 24 hours.
CointimeSG ·

Cathie Wood's ARK Invest Sells More Coinbase Stock Amid Bitcoin Plunge

ARK Invest sold millions of dollars worth of Coinbase stock after the crypto markets took a dive Wednesday.