Cryptocurrency Is ‘Inevitable’, Two Hacks, OKCoin Pauses USD Deposits, Beatport & Polkadots Music Platform, Alchemy Notify’s Custom Webhooks

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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Payment news

• A survey conducted by the Global Payments Network Mercuryo found that 40% of UK and US consumers own crypto; 65% are men, 35% women; 68% want to be able to use crypto in the same way they use other currencies in their everyday life; and 55% of businesses believe that crypto payments can significantly improve the payment experience and reduce costs. “Crypto payment adoption will continue to increase in the next few years, even though people lost confidence in the industry due to last year’s unexpected events. The majority perceive cryptocurrency as inevitable. With 40% of millennials and 65% of people over 65 indicating this, we can already see the crypto audience expand as it becomes more attractive to older generations. Women also represent 35% of crypto holders, a significant increase from the 22% share in 2019,” Petr Kozyakov, co-founder and CEO of Mercuryo, stated.
• The The Payments Association, a community for all companies in payments, has set out seven clear conclusions in a new report to help guide the debate on the UK’s future for digital currencies. According to an announcement, the association reports “increasing regulatory action, explosion of business use cases, closing the gap between conventional and new payment systems, and how payments are at the heart of this new paradigm shift for the UK.”

Security news

• PeopleDAOa group formed to buy a copy of the US Constitution lost ETH 76.5 to a social engineering hack on March 6. Per team, “PeopleDAO collects monthly contributor reward information via Google form. The accountant mistakenly shared a link with edit access in a public channel. The hacker was given editing role via the link.” The exploited funds were deposited into HitBTC and Binancethey added.
• Lending protocol Euler Finance suffered a flash loan attack, resulting in a loss of $197 million, according to security firms BlockSec and PeckShield. The attacker drained $136 million of staked ether (stETH), $34 million of USDC, $19 million of wrapped bitcoin (WBTC) and $8.7 million of DAI, BlockSec said. “The hack is made possible by the flawed logic of its donation and liquidation. Specifically, donateToReserves must ensure that the donor remains over-leveraged. And liquidation must ensure the *correct* loan-to-collateral conversion rate,” PeckShield wrote.

Exchange news

• OKCoin temporarily stopped deposits in USD after errors on Signature bank. “USD deposits via wire transfer and ACH have been stopped immediately. We don’t want your deposit to be stuck. Over-the-counter services will also be temporarily paused (aka quick purchases and recurring purchases)” tweeted OKCoin CEO and OKX President Hong Fang.

Web3 news

• Beat port working together with Polka dot for launch Beatport.io, a digital collector’s marketplace that “brings electronic music culture to Web3”, says a press release. Developed and designed in collaboration with Define creativeBeatport.io will start up Aventus, a Web3 solution provider for enterprises and parachains in the Polkadot ecosystem. The platform will enable record labels and artists to create and sell unique digital assets. Beatport and Polkadot will also collaborate on 10 major music and Web3 events over the next 18 months, to celebrate the launch of a new NFT collection available via Polkadot integrated wallets, it added.
• Web3 development platform Alchemy announced Alchemy Notify’s custom webhooks, which gives users access to real-time alerts for all events in the chain. A short list of “the infinite data” users can be instantly updated on include Uniswap deployment of token pairs, Open sea NFT swap completions, Ethereum high gas charges discovered, Aave tokens fenced, a CryptoPunk is approved for transfer etc.