Australia Sues Block Earner, Hacker Steals $42M From Fenbushi Founding Partner, DBS Completes Buyback Transaction On Blockchain Network

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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Legal news

• The Australian Securities and Investments Commission (ASIC) claimant Block Earner, alleging that the fintech company provided unlicensed financial services and operated “an unregistered managed investment scheme”. According to the notice, “ASIC is seeking declarations, injunctions and monetary penalties from the court.”

Security news

• Bo Shen, the founder of the venture capital firm Fenbushi capital, revealed that hackers stole $42 million in crypto from his personal wallet on November 10. Most of the stolen funds, around $38 million, were in the USDC stablecoin. The stolen assets are personal funds and do not affect any Fenbushi-related entities, he added.

Banking news

• Financial Services Group DBS said it became the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network. The transaction was completed on JPMorganits intraday repurchase application on Onyx Digital Assets. This enables instant atomic settlements and allows repo transactions to be traded, settled and matured within hours, instead of the current industry norm of one to two business days, a press release said.
• Two major European fintechs – HYPE and Bitpanda – has teamed up and stated that “HYPE’s 1.7 million customers will soon be able to invest in more than 2,500 assets, including fractional stocks, ETFs and precious metals, with all sizes of budget on a 24/7 basis” through Bitpanda’s White Label solution.

Investment news

• Calypso Paya crypto processing and purchasing platform of Calypso Group, it said it added support for the Lightning Network that enables “nearly free and near-instant” bitcoin (BTC) transfers. According to the press release, along with Lightning, Calypso Pay “uses automated transaction generation and mempool analysis to credit the funds before placing them in a block to ensure near-instant settlement that the Bitcoin network was unable to provide.”

CBDC news

• The Bank of Japan (BoJ) will partner with three megabanks and regional banks in the country in its planned digital yen experiments, Nikkei reported. The pilot aims to provide demonstration experiments for the issuance of the central bank’s digital currency (CBDC), starting in spring 2023. The banks are not named, but “three mega banks” in Japan usually means Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc.and Mizuho Financial Group Inc.

Mining news

• Foundry Digitala wholly owned subsidiary of Digital currency group focused on digital asset mining and staking, announced that it has entered into an asset purchase agreement to acquire two turnkey mining facilities for cryptocurrency and other assets, with an option to purchase a third facility under development from a large-scale data infrastructure company Calculate north.

Web3 news

• Web3 network peak announced a strategic partnership with the Web3 platform Ocean Protocol, to unlock data services for AI and business innovation. Through the partnership, peaq connects the economy of machine-generated goods and services with Ocean Protocol’s data marketplace and delivers a data monetization toolkit for builders creating decentralized applications (dapps) on the peaq network, the announcement said.

DeFi news

• OpenZeppelina provider of smart contract security solutions, announced a new partnership with zkSync developer Matter Labs. The announcement said that OpenZeppelin will apply its expertise in security audits and monitoring to zkSync 2.0, a Zero-Knowledge (ZK) Rollup compatible with the Ethereum Virtual Machine (EVM). Over a four-week period, OpenZeppelin audited Matter Labs’ Layer-1 building block of zkSync 2.0, concluding that the project has 0 critical issues so far.
• Decentralized Exchanges (DEX) Operating protocol, GMXand Perpetual Protocol have joined forces to build an aggregated dashboard and provide greater visibility into the financial health of their protocols for institutional and retail users, it said in an announcement. The new dashboard will provide information on proof of deposit, protocol insurance fund, loan levels and outstanding unrealized profits and losses. The collective invites other DEXs, and commits to providing this platform at the cross-protocol level.