Today's Crypto News: Frog steals $16M 🐸🇺🇸😏

Author

Valko
August 28, 2023

Today’s Top Stories ⌐◪-◪

  • 🐸 $PEPE developers go rogue and steal $16M from multisig wallet

  • 🇺🇸 US proposes new crypto taxes in an attempt to ‘kill’ crypto adoption

  • 😏 OnlyFans’ parent company invests $20M of profits into Ethereum

$PEPE developers go rogue and steal $16M from multisig wallet

Pepe said three former team members stole approximately 16 trillion Pepe tokens ($15 million) from the project’s multisig wallet.

⌐◪-◪ → 3 of 4 multisigs make it easy for bad actors to conspire and drain the wallet. Check protocol security before investing always.

US proposes new crypto taxes in an attempt to ‘kill’ crypto adoption

Patrick McHenry today claimed that the Biden Administration was trying to "kill" the digital asset industry with its tax proposal.

⌐◪-◪ → Proposed regs would stifle innovation and drive the crypto industry out of the US. It also turns all of crypto against the Biden admin.

OnlyFans’ parent company invests $20M of profits into Ethereum

OnlyFans parent company Fenix international purchased almost $20 million worth of Ethereum between 2021 and 2022. However, due to the crypto bear market that investment fell by more than 42% to $11.4 million by November last year.

⌐◪-◪ → OnlyFans’ Executives know online business and the creator economy better than any else - and they’re betting on ethereum.

Peripheral Vision ⌐◪-◪

Crypto & DeFi

  • Holesky, the new Ethereum testnet, to launch Sept. 15th

  • Balancer confirms exploit after previous warnings of vulnerability

  • $SHIB reopens Ethereum bridge to Layer-2, Shibarium

  • Stablecoin settlements were on par with Visa settlements during 2022

  • Binance US and MoonPay team up after Mastercard cuts ties

  • Hal Finney, 1st Bitcoin recipient, passed away 9 years ago today

  • FriendTech frenzy starts to fizzle out

  • BitBoy, a major crypto influencer, leaves company abruptly

Wall Street

  • Prime Trust loses wallet keys & wrongfully taps into $76M in client fund

  • Riot Platforms, Bitcoin miner, paused mining to sell power in Q2

  • Hashdex may be the first company to launch a crypto index ETF

Legal & Regulatory

Global

  • Indian Prime Minister pushes cross-border crypto regulations

  • South Korean crypto exchanges must set aside $2.3M in reserves starting Sept.

  • Israeli police accuse Moshe Hogeg of $290M crypto scam

  • Singapore family office setting up new crypto-friendly bank in Bahrain

  • CoinDCX, an Indian crypto exchange, is reducing staff by 12%

  • Indian billionaire, Mukesh Abani, plans to explore blockchain & CBDCs

  • Oman inaugurated the launch of 200MW Bitcoin mining project

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