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- 1 Breach on Aurory, a statement from Jan Van Eck, and Palau Stablecoin launch are some crypto news grabbing the attention.
- 2 Tether is working closely with U.S. law enforcement to freeze wallets linked to criminals.
Crypto space is flooded with news of hacks and fundraisers by the companies in the field. For investments in this sector, full knowledge of the field is essential hence one should always remain alert with the latest news and updates in the sector. Some of the latest happenings are discussed below
- Jan Van Eck Stated -Bitcoin to reach 12 months high
The CEO of the investment management firm, Jan Van Eck said that Bitcoin will surpass the all-time high price of $69,000 within 12 months. In an interview with CNBC on December 16 he stated “I expect an all-time high in the next 12 months”.
He also denied the accusations that Bitcoin is in a bubble. He explains that no assets that outperformed the market cycle have ever been in a bubble. Further, he added “Bitcoin is the obvious asset that is growing up in front of our eyes”
2. Breach on the Solana-based Gaming Ecosystem- Aurory
Aurory, the Solana-based gaming ecosystem, was hacked on December 17. It results in a drop of nearly 80% in liquidity of the AURY-USDC pool on the decentralized exchange Carmelot. The breach targeted Aurory’s SyncSpace bridge on Arbitrum’s native DEX Camelot around 1.00 pm UTC. The liquidity of the AURY-USDC pool has reduced to approximately $312,000 from $1.5 Million.
SyncSpace acts as Aurory’s bridge that permits the user to switch items on-chain and off-chain with a single transaction. Aurory’s team member Tim said on X “We’ve been buying back the tokens as we’re investigating what happened.”
Earlier, in a blog post in October 2022 Aurory’s team said that a cross-SYncSpace hack was not possible as it needs advanced technology signatures to Sync/DeSync assets.
3. The Palau Stablecoin Program launched
The Ministry of Finance of Palau has officially launched its second phase. Jay Hunter Anson said that in the second phase, Palau plans to extend its partnership with Ripple so that it can use the technical expertise and central bank digital currency platform of Ripple.
4. Tap Protocol raises $4.2 Million to build on Bitcoin
In a round led by Sora Ventures Tap Protocol has raised $4.2 Million. Tap protocol is a Bitcoin Ordinals baked development platform. On December 16, in an X post, the platform conveyed “With this, we open a new chapter on further development and look forward to everything new to be added to TAP and TRAC.”
The protocol also tweeted that their fund raised $4.2 Million which was oversubscribed by more than $13 Million. The German-based parent company Trac Systems owned the Tap protocol.
Tap Protocol is aimed to use the capabilities of the Bitcoin blockchain through the Ordinals system. This $4.2 Million fund will be used for innovation and contributing to a broader ecosystem of applications built on the Bitcoin blockchain.
It seeks to continue building new Bitcoin applications, from ordinary art and token functions for gaming applications.
5. Pay Friends app of Bitcoin leaks customer information in a hack
The Pay Friends application has revealed that some customers’ information is leaked after detecting suspicious activity on employees’ work devices. In X post on December 15, the firm said “ Our security team launched an investigation as part of our incident response protocol and immediately locked, deauthenticated, and offboarded this device.”
The firm said that the malicious actor was able to take out some personal information about some users but it does not contain financial information. The personal information includes the personal address, email account, balances, transaction activity, etc.
6. Tether Working with U.S enforcement laws to freeze criminal wallets
Tether announces that $435 Million in criminal-linked USDT has been frozen and it is working closely with the enforcement laws. The firm’s CEO Paolo Ardoino stated “We have assisted in freezing as of the date of this letter, approximately 326 wallets totaling approximately USDT 435 Million.”
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
