SEA Crypto Exchange Reportedly Exploited For $15.7M | Key Points | Sept. 11, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap, a Southeast Asian crypto exchange became the latest victim of an exploit.
Here are the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $56,234.22, down 1.1% over the last 24 hours.
- Ethereum (ETH): $2,325.21, down 0.8% over the last 24 hours.
- Solana (SOL): $131.78, down 1.4% vs the previous day.
Trending Coins Update
- Kwenta: $66.48, up 50.3% vs the previous day.
- Parsiq: $0.0966, up 35.6% over the last 24 hours.
- MAGA: $2.85, down 12.5% vs the previous day.
For the daily price update, check out our post on Facebook.
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🌐 The Blockchain Game Alliance (BGA) has launched its 2024 State of the Industry Survey! Your insights can shape the future of web3 gaming: https://bit.ly/bgasurvey24
Feature News: Indonesia’s Indodax Suffers $15M Loss From Exploit — Peckshield
Indodax, an Indonesian crypto exchange, was hacked, losing about $15.7 million. The breach impacted several blockchain networks, including Ethereum and Polygon. Indodax is currently offline for maintenance, news outlet The Block has reported.
What’s the significance: While Indodax said user funds are safe, people are anxious about how this situation will unfold. Anytime a crypto user loses access to their holdings is a cause for concern, especially if those funds are badly needed by the person.
Key details:
- $8.5 million in Ethereum and $6.8 million in POL tokens were stolen.
- The suspicious activity was detected by security firms like PeckShield.
What’s next: Here’s what’s happening at the moment:
- Indodax said they are investigating the issue.
- Users are waiting for the platform to come back online, hoping for clear updates on how their funds will be protected.
Zooming out: This is the second major hack in the previous three months of crypto exchange, following the $230M hack of Indian crypto exchange WazirX.
Philippine Crypto News 🇵🇭
- ICP Hub PH shared the video recap of the recently concluded iThink Hackathon: Pump up the Jam.
- YGG Play Summit early bird tickets are now out.
- PDAX launched its #YourNextMoneyMove campaign, in collaboration with Gainers Ground, with a ₱15,000 prize pool.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Bitcoin‘s cumulative trading volume surged to $2.87 trillion from January to August 2024.
- Metaplanet Inc., a Japanese investment firm, purchased an additional 38.4 BTC, raising its total Bitcoin holdings to 398.8 BTC ($26 million).
- Bitcoin ETFs in the US saw $1.2 billion in outflows over eight days, marking their longest streak since their launch in January.
Educational Corner 🎓
- Learn how to play and earn with the new rewards platform with a Telegram game GOAT Gaming.
- It is introduced by Mighty Bear Games, a Singapore-based studio.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- The US SEC imposed $4.7 billion in crypto-related enforcement actions in 2024, marking a 3,000% increase from 2023.
- Five U.S. states settled with GS Partners, securing 100% refunds for investors involved in fraudulent crypto schemes.
- The North Carolina Senate voted to override Governor Roy Cooper’s veto, passing a bill that bans the use of a US Federal Reserve-issued CBDC in the state.
Community Spotlight 🔦
Meet Kristine Erispe: Also known as Danki, she is a key figure in the Philippine Web3 community.
Erispe is also a core member of ETH63, a local Ethereum community.
She is a blockchain developer and co-founder of DeFi Philippines, a community focused on decentralized finance.
Here are some articles where Erispe is featured:
- [Web3 interview series] Danki’s leadership journey with ETH63
- [Web3 interview series] How ETH63 intends to drive Ethereum growth in the Philippines
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- FriendTech effectively shut down by transferring control of its smart contracts to a null address.
- EtherFi partnered with Scroll to use its Ethereum Layer 2 network for settling transactions on the upcoming EtherFi Cash credit card.
- Snapshot Labs is launching Snapshot X, a new on-chain governance protocol on Starknet.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- GAMEE is launching the WATCoin token for its casual game WatBird on The Open Network (TON) this September.
- Planet Mojo is migrating to Coinbase’s Base network to enhance its gaming experience.
- Animoca Brands Japan partnered with TOKYO STUPID GAMES to support its global expansion by leveraging its network for marketing and token economy design.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space!
- Web3ÂI: September 14, 2024
- Scarletbox x Atsbury: Night of Arts and Chats: September 19, 2024
- Blockchain Campus Conference 2024: October 10, 2024
Stay Connected:
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This article is published on BitPinas: SEA Crypto Exchange Reportedly Exploited For $15.7M | Key Points | Sept. 11, 2024
