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🌙 Blast Ecosystem Grapples With $63M Hack

Blast grappled with its first major incident following its mainnet launch four weeks ago. The GameFi farm Munchables suffered a $63 million hack.

Author

Mike Gavela
March 27, 2024

Crypto Roundup - Mar 27


Recent developments in the cryptocurrency sector highlight both innovative progress and challenges. Analysts are raising concerns that the $63M exploit of Munchables might have been an inside job, underlining the ongoing issues of security and trust within the industry​​. Meanwhile, BlackRock's CEO, Larry Fink, has expressed confidence in the potential for a spot Ether ETF, signaling a growing acceptance of cryptocurrencies by traditional financial institutions, even as regulatory clarity remains a point of debate​​. Adding to the institutional embrace of crypto, Ondo Finance is set to move $95M to BlackRock's tokenized fund, showcasing a significant example of traditional finance and cryptocurrency convergence, aiming for instant settlements for its T-Bill token​​.

Top stories:

  • Analysts suspect the $63M exploit of Munchables was orchestrated internally, highlighting the critical issue of trust and security in the crypto sector.

  • BlackRock's CEO, Larry Fink, shows confidence in the approval of a spot Ether ETF, indicating a significant shift towards the integration of cryptocurrencies into mainstream financial products.

  • Ondo Finance plans to transfer $95M to BlackRock's tokenized fund, a pioneering move that bridges traditional finance and the crypto world, enabling instant settlements for T-Bill tokens.

TOP STORIES

Analysts Believe Munchables’ $63M Exploit Was Internally Engineered - The Defiant

Munchables, a Blast-based web3 game, suffered a $63 million exploit that analysts believe was concocted by a North Korean employee.

thedefiant.io/analysts-believe-munchables-usd63m-exploit-was-internally-engineered

BlackRock’s Larry Fink confident about a spot Ether ETF — even if the crypto is deemed a security

BlackRock CEO Larry Fink said an SEC designation of Ether as a security is not a death knell for spot Ether ETFs in a Wednesday interview.

www.dlnews.com/articles/markets/blackrock-ceo-larry-fink-confident-about-a-spot-ether-etf

Ondo Finance to Move $95M to BlackRock's Tokenized Fund for Instant Settlements for Its T-Bill Token

The allocation marks to first example of a crypto protocol leveraging BlackRock's tokenized fund for its own offering.

www.coindesk.com/markets/2024/03/27/ondo-finance-to-move-95m-to-blackrocks-tokenized-fund-for-instant-settlements-for-its-t-bill-token

FUNDRAISES

DePIN Layer 1 peaq raises $15 million in pre-launch funding

The funding will be used to expand the peaq DePIN ecosystem ahead of a public offering and mainnet launch.

www.theblock.co/post/285001/depin-layer-1-peaq-raises-15-million-in-pre-launch-funding

Web3 AI platform MyShell raises $11 million in a round led by Dragonfly

MyShell, a web3-enabled AI platform focused on creators, has raised $11 million in a pre-Series A funding round led by Dragonfly.

www.theblock.co/post/285072/web3-ai-platform-myshell-funding

OTHER HEADLINES

Ethena Labs Announces Airdrop Date of Native Token ENA - The Defiant

Synthetic stablecoin startup Ethena Labs has announced it is one step closer to the holy grail of internet money.

thedefiant.io/ethena-labs-announces-airdrop-date-of-native-token-ena

Layer-2 Blockchain Mantle’s Token Hits All-Time High as Reward System Goes Live

The rally in the MNT token pushed the market cap of the blockchain to over $4 billion.

www.coindesk.com/markets/2024/03/27/layer-2-blockchain-mantles-token-hits-all-time-high-as-reward-system-goes-live

Square Enix, Solana Foundation Back Elixir Games Ahead of Token Launch - Decrypt

Crypto gaming launcher Elixir Games raised $14 million from backers including Final Fantasy maker Square Enix and the Solana Foundation.

decrypt.co/223604/square-enix-solana-foundation-back-elixir-games-token-launch

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