🌙 Terraform Wallet Moves $62M BTC

Blockchain transactions showed 1,075 Bitcoin moving from a wallet connected to Terraform Labs to a different address on Sept. 2.

Author

Mike Gavela
September 03, 2024

Crypto Roundup - September 3

Terraform Labs co-founder Do Kwon faces potential extradition to South Korea or the United States as Montenegro begins the legal process, with both countries seeking his return to face charges related to the collapse of Terra. Meanwhile, Pendle Finance has paused its contracts in response to a significant security breach, where an exploit targeting Yield Protocol and Penpie led to a $27 million loss, raising concerns over DeFi vulnerabilities. In a separate development, the SEC has charged Galois Capital with custody failures, citing the firm's inability to safeguard customer assets properly, reflecting ongoing challenges in crypto compliance and regulatory oversight.

Top Stories

  • Do Kwon faces extradition to South Korea or the United States as Montenegro begins the legal process, following the collapse of Terra.

  • Pendle Finance pauses contracts after a $27 million exploit involving Yield Protocol and Penpie, highlighting DeFi vulnerabilities.

  • SEC charges Galois Capital with custody failures, stressing the importance of proper asset safeguarding and compliance in the crypto space.

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TOP STORIES

Terraform wallet moves $62M BTC as Do Kwon remains in legal limbo

Blockchain transactions showed 1,075 Bitcoin moving from a wallet connected to Terraform Labs to a different address on Sept. 2.

cointelegraph.com/news/terraform-labs-bitcoin-do-kwon-extradition-montenegro

Pendle Pauses Contracts After Yield Protocol Penpie Suffers $27 Million Exploit - "The Defiant"

The attacker exploited a smart contract vulnerability, said cybersecurity firm Cyvers.

thedefiant.io/news/defi/pendle-pauses-contracts-after-yield-protocol-penpie-suffers-usd27-million-exploit

Galois Capital to pay $225K to investors in SEC settlement

The SEC charged the defunct crypto hedge fund Galois Capital with failing to properly safeguard client assets.

blockworks.co/news/sec-charges-galois-capital-custody-failures

FUNDRAISING

CryptoHunter World raises $2.8 million USD from leading venture capital firms to bring innovative into Web 3.0

CryptoHunter World raises $2.8 million USD from leading venture capital firms to bring innovative into Web 3.0Dubai, UAE - September 3, 2024 CryptoHunter World, the world's first hybrid gaming service, has...

www.streetinsider.com/Press+Releases/CryptoHunter+World+raises+%242.8+million+USD+from+leading+venture+capital+firms+to+bring+innovative+into+Web+3.0/23676089.html

OTHER HEADLINES

Inside the Trump Crypto Project Linked to a $2M DeFi Hack and Former Pick-Up Artist

Four team members listed in World Liberty Financial's white paper previously worked on Dough Finance, which was drained of $2 million in July. One also founded Date Hotter Girls LLC.

www.coindesk.com/business/2024/09/03/inside-the-trump-crypto-project-linked-to-a-2m-defi-hack-and-former-pick-up-artist

6 key Solana developments to keep an eye on

There are six Solana-related threads to watch in the following months, including the future of DAOs, restaking and SOL ETFs.

blockworks.co/news/lightspeed-newsletter-solana-developments-to-watch

Is mass adoption still crypto's most important goal?

While blockspace is becoming cheaper, app developers are still limited by how many transactions can be processed at any one time.

blockworks.co/news/empire-newsletter-mass-adoption-as-priority

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