Visa Report Says $400 Million Stolen From Crypto Bridges, Bitstamp To Help Mt. Gox Refund Process, Solana Reveals Flaw

Get your daily, bite-sized summary of cryptoassets and blockchain-related news – examine the stories that fly under the radar of today’s crypto news.
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Security news

• A new Visa the report found that, beyond traditional currency attacks, threat actors are using new tactics to defraud cryptocurrency users, including new malware focused on browser extension wallets for crypto users, as well as innovation in phishing and social manipulation systems. Crypto bridge services are also a target. From January to February 2022, three major thefts exploiting vulnerabilities in various bridge services netted cyberthieves over $400 million, they said.

Legal news

• Bit stamp announced that it was appointed by Mt. Gox Trustee as one of four designated crypto exchanges to assist in the repayment procedures of Mt. Gox creditors. Bitstamp has published a full description of how those affected can register to reclaim their digital assets through the exchange. Pursuant to the announcement, a creditor of Mt. Gox to select its preferred cryptocurrency exchange and register as a user to receive the relevant assets in accordance with the repayment procedures under the rehabilitation plan.

Blockchain News

• A report from Solana Foundation said the Solana (SOL) blockchain downtime on September 30 was caused by a bug in the blockchain’s code and triggered by a malfunctioning hot-spare node that resulted in duplicate blocks.

Exchange news

• Cryptocurrency exchange FTX working together with Visa to launch debit cards in 40 countries, with initial rollout across Latin America, followed by Europe and Asia. FTX-branded Visa debit cards will be linked directly to a user’s FTX accounts and will initially be offered in the United States, according to PYMNTS.

Web3 news

• Phantom (FTM), a tier-1 blockchain platform, today announced its integration with Unstoppable domains, a Web3 digital identity platform with more than 2.5 million registered non-fungible token (NFT) domains. Starting today, Unstoppable Domains will support the Fantom network, allowing Fantom’s more than 3.5 million users to benefit from the movement of digital assets via human-readable wallet addresses, it said in an announcement.
• One of the largest Ethereum Merge stake providers Lido Finance announced that it has launched on two layer-2 networks, Arbitration and Optimism.

CBDC news

• The Reserve Bank of India (RBI), India’s central bank, has published a concept note for introducing a central bank digital currency (CBDC) in the country. It said that “we are at the forefront of a watershed movement in the development of currency that will change the very nature of money and its functions.”

Investment news

• Killer whalesa Solana-based liquidity platform, has announced the launch of Orca Climate Fund. The fund reflects its mission to combat climate change and promote sustainable practices in crypto, says a press release. The Orca Climate Fund evolved from Orcas Impact Fund who were born in August 2021. Since 2021, Orca has allocated a portion of the fees on each trade to the fund. The Orca Climate Fund will focus on promoting change at the intersection of climate and Web3, they said.

Mining news

• Bitcoin (BTC) miner Digital Marathon disclosed an $81.3 million exposure in the now-bankrupt data center Calculate north. According to a monthly report, it had invested $10 million in convertible preferred stock and $21.3 million in senior unsecured debentures in Compute North, and also paid it about $50 million as an operating deposit for hosting services.
• Crypto mining company Argo Blockchain plans to sell 3,400 mining machines for cash of £6 million ($6.8 million). It will also raise approximately $27 million via a proposed underwriting with a strategic investor, it said in a release, and it amended an existing equipment financing agreement, freeing up $5.7 million in restricted cash. The moves were made to ensure it “has the necessary working capital to execute its current strategy and meet its obligations over the next twelve months,” it added.