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Monochrome Exchange launched the MCR IEO, raising over 5.5 million USDT

According to monitoring by Lookonchain, Monochrome Exchange, an Australian digital asset management company founded by Jeff Yew, former co-founder and CEO of Binance Australia, has launched the MCR token IEO, raising over 5.5 million USDT to date.The total supply of MCR is 210 million tokens, of which 5%, or 10.5 million tokens, are allocated for this public IEO. The IEO tokens will be locked for 1 month after the TGE, followed by a 3-month linear release. MCR holders can enjoy discounts on spot and derivatives trading fees, priority subscription rights for Digital IPOs and token issuances, and can earn rewards through staking, enhance Launchpad quota weight, and participate in node programs, while also engaging in platform governance through Monochrome DAO.20% of the platform's net profit will be used for open market repurchases of MCR and destruction each quarter, while 25% of the Digital IPO fee income will be included in the quarterly repurchase and destruction fund, aiming to continuously reduce the circulating supply of MCR through platform business growth.On September 13, 2021, Monochrome announced the completion of a $1.8 million Series A financing round, co-led by Litecoin founder Charlie Lee, Blockstream Chief Strategy Officer Samson Mow, former Binance Chief Financial Officer Wei Zhou, and founders of Blueshyft and DeFi protocol Synthetix, Kain Warwick, with a post-investment valuation of approximately $15 million.On August 18, 2022, Monochrome Asset Management obtained the country's first financial services license (AFSL), which will be used to issue cryptocurrency-related exchange-traded funds (ETFs).

first_img Bitget suspected of being hacked, approximately 183 million USD in assets flowed out from the exchange wallet

According to Decrypt, on-chain data shows that approximately $183 million in crypto assets flowed from a wallet marked as Bitget to a newly created address. Bubblemaps and Arkham analysts flagged this unusual activity on September 24, stating that Bitget may have been hacked. The funds were transferred from the exchange's hot and cold wallet reserves within about an hour, involving tokens such as ETH, USDT, USDC, AVAX, BNB, and XAUT.The first anomaly came from the hot wallet. A new address starting with 0xe410 utilized $19.67 million in USDT within 6 minutes, exchanging it for 7,111 ETH through UniswapX and 1inch Fusion, with the transaction price about 5% higher than the market price. On-chain researcher DCF GOD pointed out that subsequently, more wallets marked as Bitget transferred ETH, AVAX, BNB, USDC, USDT, and XAUT to the same address. The outflow of funds stopped about 6 minutes after the first suspicious transaction and remained silent for at least 20 minutes thereafter.Some users reported that withdrawals were blocked, and Bitget has not issued a public statement nor responded immediately to Decrypt's request for comment. On-chain analysts stated that the marked Bitget wallets still hold approximately $500 million in assets. Bitget had launched a $300 million protection fund in 2023 to cover losses from hacks, thefts, and other incidents.
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