Weekly News Highlights | Sun Yuchen Denies Acquiring Huobi; Mango Hacker Has Returned $67 Million in Assets

整理：Runsheng, Chain Catcher

Important News

1. Justin Sun's side responds: Neither he nor TRON are buyers of Huobi, will support Huobi's development as advisors

On October 10, it was reported that Justin Sun's side stated to Caixin that neither Justin Sun nor TRON are buyers in Huobi's current share sale. In the future, Justin Sun and TRON will continue to support Huobi's development. Justin Sun has been invited to serve as a member of the newly established Huobi Global Advisory Committee.

Previous report, Huobi Global's major shareholder, Baidu Capital, decided to establish a global advisory committee, with Justin Sun becoming an advisor. Subsequently, Justin Sun's Twitter bio link has been changed to the Huobi official website link. (Caixin)

2. Solana ecosystem decentralized finance platform Mango attacked, potential losses reach $100 million

On October 12, blockchain auditing firm OtterSec tweeted a warning that the Solana ecosystem decentralized trading and lending platform Mango has been attacked with potential losses of $100 million, stemming from the attacker manipulating the value of its collateral. The attacker temporarily inflated the collateral value and then withdrew a large amount of loans from the Mango treasury.

Mango responded that it is investigating an incident where a hacker extracted funds from Mango through oracle price manipulation and is currently taking measures to have third parties freeze liquidity. As a precaution, Mango will disable deposits on the front end and will provide updates as the situation develops, stating that discussions regarding fund return rewards can be conducted via email. (Source link)

3. Mango: Hacker has returned $67 million in assets, voting on distribution process next week

On October 16, Mango tweeted that the hacker has returned $67 million worth of crypto assets to the DAO as agreed. The community will discuss how to handle these assets on Mango Discord at 15:00 UTC on Monday. Some developers have begun to take responsibility and research an algorithm to determine the refund amounts for the relevant accounts; a separate program is also being studied to redistribute funds. Mango stated that multiple DAO votes will be held next week to reach consensus on the exact procedures and amounts, with some votes lasting up to 72 hours.

ChainCatcher previously reported that the Mango community voted to approve a new proposal, allowing the hacker to keep $47 million as a bounty for the exploit while returning the remaining $67 million worth of stolen tokens. Mango token holders agreed to use treasury funds to repay bad debts. Additionally, Avraham Eisenberg, the mastermind behind the Mango Markets exploit, confirmed his involvement in orchestrating the attack and claimed that all his actions were legal. (Source link)

4. Google partners with Coinbase to launch crypto payment cloud services

On October 12, it was reported by nftgators that Google announced a partnership with Coinbase to launch crypto payment cloud services in early 2023. Coinbase plans to migrate data-related applications from Amazon Cloud to Google Cloud.

ChainCatcher previously reported that Google Cloud is forming a Web3 team to provide services to help developers build Web3 applications, and the Web3 infrastructure company Fortress has partnered with Google Cloud to launch an NFT database solution. (nftgators)

5. A hacker address exploits FTX vulnerability to steal GAS, minting XEN 17,000 times at zero cost

On October 13, it was reported by X-explore that a "scientist" is exploiting an FTX vulnerability to steal GAS, minting XEN TOKEN 17,000 times at zero cost. The GAS theft is ongoing, with a total amount stolen reaching 81 ETH. Analysts suggest that the reason is that FTX waived withdrawal fees while not limiting the Gas Limit for withdrawal transactions.

It is reported that the hacker address has obtained over 100 million XEN Tokens and has exchanged some of the XEN tokens for 61 ETH through decentralized exchanges like DoDo and Uniswap, depositing them into FTX and Binance exchanges. (Source link)

6. Justin Sun: Owns "tens of millions" of HT, will focus on bringing Huobi back to China if legally permitted

On October 14, Bloomberg reported that TRON founder Justin Sun stated that he owns "tens of millions" of Huobi tokens HT, and now as an advisor to Huobi, he intends to promote the development of HT, adding that "if legally permitted, he will also focus on bringing Huobi to the global stage and ultimately back to China."

He also mentioned that his team has researched the assets of the bankrupt crypto lending platform Celsius Network but has not yet decided whether to make a bid. (Source link)

7. Mastercard: Focus on breakthroughs in five key areas including crypto cards, metaverse, and NFTs, aiming to turn cryptocurrency into everyday payments

On October 14, Mastercard outlined five key areas it is focusing on, aiming to "turn cryptocurrency into an everyday payment method." These five areas of research include crypto cards, crypto services, payments, crypto networks, and the metaverse/NFTs.

In terms of crypto cards, Mastercard announced dozens of new crypto card projects globally this year; in crypto services, it expanded its crypto consulting business and launched a new crypto monitoring product through the acquisition of Ciphertrace; in payments, Mastercard is collaborating with Paxos, Circle, Evolution, and Uhold to develop technology that converts cryptocurrencies into fiat currencies; in crypto networks, Mastercard will introduce approved digital assets into its crypto network; in the metaverse/NFT area, Mastercard is developing crypto partnerships to support NFTs and the metaverse. For example, Coinbase users can pay for NFTs using Mastercard. (Source link)

8. Coinbase CEO: Plans to sell about 2% of his shares within a year to fund scientific research and related companies

On October 15, Coinbase CEO Brian Armstrong tweeted, "I am passionate about accelerating the development of science and technology to help solve some of the world's biggest challenges. To further this, I plan to sell about 2% of my Coinbase shares over the next year to fund scientific research and companies like NewLimit and ResearchHub."

He also stated, "To avoid any doubts, I intend to serve as CEO of Coinbase for a long time, and I remain optimistic about cryptocurrency and Coinbase. I am fully committed to growing our business and advancing our mission, but I am also excited to contribute in different ways." (Source link)

9. Crypto market maker Wintermute repays a total of $96 million in debt to DeFi protocol TrueFi

On October 15, it was reported by CoinDesk that crypto market maker Wintermute repaid a total of $96 million in debt to DeFi protocol TrueFi weeks after being hacked. TrueFi loans are known to be one of the largest outstanding debts Wintermute has obtained from a DeFi lending platform. In April of this year, Wintermute received a $92 million unsecured loan from the TrueFi USDT loan pool, which was due on October 15. Blockchain data platform Nansen shows that Wintermute repaid the loan the day before the deadline.

Previously, ChainCatcher reported that Wintermute lost $160 million in a DeFi hack at the end of September, at which time Wintermute had over $200 million in DeFi debts to several counterparties, including a $75 million debt to Maple Finance and a $22.4 million debt to Clearpool, in addition to TrueFi's largest debt. (Source link)

10. Magic Eden to enable optional royalties and launch a $1 million creator monetization hackathon

On October 15, Solana ecosystem NFT marketplace Magic Eden announced that it will enable optional royalties on its platform, allowing NFT buyers to choose full, half, or no royalties.

Additionally, Magic Eden will launch a creator monetization hackathon with up to $1 million in investment to support the development of NFT royalty and alternative monetization tools on Solana. (Source link)

Important Financing/Venture Capital News

1. Ripple partner Airwallex completes $100 million financing at a $5.5 billion valuation, with participation from Tencent and Sequoia Capital China

On October 11, it was reported that Ripple partner, Australian fintech company Airwallex announced the completion of a new round of financing of $100 million at a valuation of $5.5 billion, with participation from Tencent Holdings, Sequoia Capital China, Gobi Partners, Australia's HostPlus, and a North American pension fund.

It is reported that Airwallex's total financing amount has exceeded $900 million. Airwallex allows customers to issue and pay international invoices and bills through its payment platform and joined Ripple's enterprise blockchain network RippleNet in 2017 to leverage blockchain technology to modernize global payments. As part of RippleNet, the company is also adopting commercial blockchain to provide unique global payment experiences for its clients. Through Airwallex accounts, merchants can securely access a variety of global and local payment methods in a convenient, fast, and cost-effective manner. (Source link)

2. Enterprise blockchain platform SettleMint completes €16 million Series A financing, led by Molten Ventures

On October 11, it was reported that Belgium-based enterprise blockchain platform SettleMint announced the completion of €16 million in Series A financing, led by Molten Ventures, with participation from OTB Ventures, Fujitsu Ventures, Allusion, Bloccelerate, and investors Medici Ventures, LP.

It is reported that SettleMint's "Blockchain Platform as a Service" (BPaaS) helps enterprises and development teams build blockchain applications and platforms, eliminating the complexity of blockchain technology and providing users with a set of ready-to-use tools, frameworks, templates, and APIs. They plan to leverage their market position in Europe (Belgium), MEA (Dubai), India (Delhi), and Singapore, and expand into the Japanese market. (Source link)

3. Twitch co-founder's Web3 e-commerce platform Rye completes $14 million financing, led by a16z Crypto

On October 11, it was reported that Web3 e-commerce platform Rye announced the completion of $14 million in financing, led by a16z Crypto, with participation from Goat Capital, Solana Ventures, Electric Ant, Electric Feel Ventures, L Catterton, former Tilt founder James Beshara, and NBA veterans Andre Iguodala and JaVale McGee.

It is reported that Rye was founded by Twitch co-founder Justin Kan, aiming to create "Shopify in the Web3 space." Rye seeks to reduce e-commerce costs using crypto tokens by providing participants with the cryptocurrency "Rye" (which can be used to pay transaction fees). Rye will offer a one-click application programming interface (API) for merchants to showcase some or all of their products on Rye's own marketplace. Rye will also provide developers with product catalogs to embed into their own websites and applications, which is significantly different from centralized e-commerce platforms like Amazon and Shopify. (Source link)

4. Mobile game developer Homa completes $100 million Series B financing, plans to build Homa Metaverse

On October 12, it was reported that mobile game developer Homa completed $100 million in Series B financing, led by Quadrille Capital and Headline, with participation from Northzone, Fabric Ventures, Bpifrance, Eurazeo, and Singular.

It is reported that the company has raised a total of $165 million and plans to create an interconnected gaming world composed of a virtual world and characters owned by creators and players, known as the Homa Metaverse. (Source link)

5. Web3 search engine neeva.xyz completes $40 million financing, led by Paradigm

On October 12, it was reported by CNBC that Web3 search engine neeva.xyz, founded by former Google Ads and Commerce Senior Vice President Sridhar Ramaswamy, completed $40 million in financing, led by Paradigm, with participation from Coinbase, Sequoia Capital, Greylock, and others.

It is reported that since its launch in 2021, neeva.xyz has gained over 600,000 users in the United States. Its goal is to allow users to choose their preferred information sources based on personal preferences and relevance, rather than suggestions from advertisers, such as news media, shopping, software engineering websites, travel, etc. (Source link)

6. Web3 wallet Zerion completes $12.3 million Series B financing, led by Wintermute Ventures

On October 12, it was reported that Web3 wallet Zerion completed $12.3 million in Series B financing, led by Wintermute Ventures, with participation from Mosaic, Coinbase Ventures, Alchemy, and Placeholder. The funds from this round of financing will be used to further develop its wallet products, enhance data analysis capabilities, and provide users with a more intuitive display interface. (Source link)

7. Blockchain development platform Tatum completes $41.5 million financing, with participation from Circle and others

On October 12, it was reported by Coindesk that blockchain development platform Tatum completed $41.5 million in financing, with participation from Octopus Ventures, Circle, Leadblock Fund, and angel investors including Bitpanda founders.

It is reported that Tatum aims to shorten the time to market for blockchain applications. The platform simplifies the development process and combines features such as smart contracts, fees and payment solutions, real-time alerts, and crypto transactions. (Source link)

8. Bloomberg: Custodian Copper has raised $196 million in ongoing Series C financing

On October 13, it was reported by Bloomberg that according to a publicly disclosed filing this week, as of June this year, cryptocurrency custodian Copper has raised $196 million in Series C financing, including $181 million from new and existing shareholders, as well as $15 million in convertible loan notes. A spokesperson for Copper declined to comment on the company's related information, as the company has not yet officially completed this round of financing.

Additionally, Bloomberg reported that last November, Copper sought a $500 million investment at a $3 billion valuation, but with the cryptocurrency price crash, venture capital firms' expectations for the cryptocurrency sector have been adjusted, which has also affected Copper's current financing situation. (Source link)

9. Cryptocurrency management platform Pillow completes $18 million Series A financing, led by Accel and Quona Capital

On October 13, it was reported by TechCrunch that cryptocurrency management platform Pillow completed $18 million in Series A financing, led by Accel and Quona Capital, with participation from Elevation Capital and Jump Capital. The platform aims to create an all-in-one cryptocurrency management platform that integrates storage, consumption, and investment, currently serving over 75,000 users in more than 60 countries/regions.

It is reported that Pillow is headquartered in Singapore and was founded in 2021 by Arindam Roy, Rajath KM, and Kartik Mishra, focusing on emerging markets such as Africa and Southeast Asia. Currently, the platform supports 10 digital assets, including Bitcoin, Ethereum, Solana, Polygon, Axie Infinity, USDC, and USDT, with plans to expand to over 50 assets in the coming months. (TechCrunch)

10. Uniswap Labs completes $165 million Series B financing at a $1.66 billion valuation, led by Polychain Capital

On October 13, it was reported that Uniswap Labs announced the completion of $165 million in Series B financing at a $1.66 billion valuation, led by Polychain Capital, with participation from Andreessen Horowitz, Paradigm, SV Angel, Variant, and others.

Founder Hayden Adams stated that Uniswap Labs is currently not profitable, but the company intends to use the funds to expand its product offerings and achieve financial sustainability in the coming years, which will include building an NFT aggregator that will "unlock new interactions between tokens and NFTs." (Source link)

11. NFT liquidity provider MetaStreet completes $10 million financing, with participation from Dragonfly and OpenSea

On October 14, it was reported that NFT debt and financing company MetaStreet completed $10 million in financing, with investors including DragonFly Capital, Nascent, and Ethereum Ventures, who had previously funded MetaStreet. New investors also participated, such as Fintech Collective, DCG, TheLAO, Focus Labs, Mirana Ventures, Metaversal, OpenSea Ventures, Ledgerprime, Meta4, and Flying Falcon. The company will use this funding to create trust, credit, and ownership products to facilitate debt and build the debt infrastructure of the NFT industry.

MetaStreet was established in 2021 to provide liquidity and scalability infrastructure for NFT collateral platforms. The company aims to enhance the NFT industry's debt system by offering automated underwriting, waterfall mitigation, and other tools.

In February of this year, MetaStreet completed $14 million in financing, led by Dragonfly Capital. With this round, MetaStreet's total financing now stands at $24 million. (Source link)

12. Crypto asset management company BlockTower establishes a venture capital department with a management scale of $150 million

On October 14, it was reported by The Block that crypto asset management company BlockTower has established a venture capital department with a management scale of $150 million.

It is reported that BlockTower's recent investments in startups such as Aptos, Lighthouse Labs, and Maple Finance fall under this new fund. The fund's LPs include Mass Mutual, VanEck Equities, BPI France, Circle, Teacher Retirement System of Texas, and others. (Source link)