Cryptospace Spotlight #51 (18 Dec 2022) - Solana-based DEX Raydoum exploited
DEX Raydium was exploited for $2.2M due to over key management issue, 3Commas spoke on recent API saga rejecting insider job,and Proof of Reserves audit firm halted it services to exchanges!
Security and Risk
11 Dec - Solana-based DEX Raydium exploited for $2.2M
Solana-based decentralized exchange Raydium was exploited for $2.2 million after the attacker took over the owner’s authority on the platform. [more] [more-Raydium]
Some users accused the protocol of not having a multi-signature in the midst of the attack.
11 Dec - 3Commas on API keys theft
3Commas, cryptocurrency trade management platform, CEO noted the concerns of users affected by the attack on exchange APIs. This include Binance, OKX, FTX and some other exchanges have experienced unauthorized trades initiated via API keys. [more]
The company indicated that each case is different and encouraged affected users to file police report. Affected users should also provide information to the company for further investigation.
The company also rebutted claims that these attacks were insider job.
Other Crypto Picks
United States - The New York State Department of Financial Services issued new guidance requiring state-regulated banks to apply for approval before engaging in digital-asset related activities. [more]
The Basel Committee for Banking Supervision published the final version of the rules for crypto-assets to be implemented by January 1, 2025. The rules cover the capital requirements for risk exposures relating to digital securities, stablecoins and cryptocurrencies. [more]
Web3 ecosystem developer ConsenSys unveiled its zero-knowledge Ethereum Virtual Machine (zkEVM) network for private beta testing. [more]
Mazars Group, known for its proof-of-reserve audit services for crypto companies, temporary halted its audit services. Affected companies include Crypto.com, KuCoin and Binance. [more]
Investors withdraw record levels of coins from crypto exchanges. [more]
Crypto exchange Gemini has come back online after being down for over seven hours since the late hours of Thursday due to a scheduled maintenance. [more]
However, the exchange had postponed the service resumption multiple times since then, with the services being down for almost 7.5 hours.
FTX event -
Former FTX CEO Sam Bankman-Fried arrested by Bahamian authorities. [more]
The US Attorney of the Southern District of New York hosted a press conference Tuesday alongside the Securities and Exchange Commission, the Federal Bureau of Investigations and the Commodities Futures Trading Commission. US Attorney Damian Williams called Bankman-Fried’s crimes some of the worst the country has ever seen. [more]
Full testimony of Sam Bankman-Fried for Congress[more]
Former U.S. President Donald Trump’s non-fungible token (NFT) digital trading card collection sold out early Friday, the day after its initial release. [more]
According to data from OpenSea, at time of writing, the collection’s trading volume is 900 ETH, or about $1.08 million. Its floor price is about 0.19 ETH, or about $230 – more than double the original price of $99.