US preps action for ransomware payment / El Salvador announced BTC investigation / SushiSwap Miso hacked for 865 ETH ($3M)

Plus: Cuba issued a resolution to regulate crypto transactions.

Inside.com Part of   Network September 17, 2021

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The global crypto market cap is $2.10T 2.95%▼ with a 24-hour market volume of $103.47B 7.27%▼. Bitcoin's dominance is currently 41.15% 0.75%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $47,126.29 0.93% ▼ 2 Ethereum ETH $3,390.12 5.06% ▼ 3 Cardano ADA $2.35 2.84%▼ 4 Binance Coin BNB $408.53 3.54%▼ 5 XRP XRP $1.07 2.20% ▼ *Prices as of 3:00 p.m. ET.

The U.S. Treasury Department is preparing actions to make cryptocurrency use for ransomware payments more difficult. Sanctions related to the government's actions are expected to be announced next week. More: Guidance and fines for businesses who use crypto for ransomware payments will be announced later this year. The Cybersecurity and Infrastructure Security Agency recently issued a warning to businesses that paying ransomware payments perpetuates the attacks on other organizations. The Treasury Department did not comment on the extent of the actions, and it is unclear how a crypto crackdown would affect ransomware attacks. Chainalysis stated that most of the recent ransomware payments had gone to accounts within the former Soviet Union and Eastern Europe.

Hut 8 Mining announced the closing of its underwritten public offering in the U.S. and Canada. Hut 8 sold a total of 20,182,500 shares at $8.55 per share for $172,560,375 in gross proceeds. More: Hut 8 Mining plans to use proceeds from the public sale to increase its hash rate and engage in strategic partnerships, acquisitions, and joint ventures. As of last quarter, Hut 8 mines an average of 9.7 BTC per day from its over 100mW mining facility.  The mining company currently holds over 4,000 BTC (~$190M) in cold storage. Hut 8 was notably the first publicly traded mining company on the Toronto Stock Exchange and the first Canadian mining company listed on the Nasdaq.

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🍋 Fresh Funding🍋  Coinfirm, Blockchain Analytics: $8M ⮕ The Series A funding round was co-led by SIX Fintech Ventures and FiveT Fintech with participation from MiddleGame Ventures, Mission Gate, CoinShares, and others. More: Coinfirm is a blockchain analytics and crypto compliance startup selected by the Cardano Foundation to lead its ADA crypto compliance. The funding will be used to expand into Asian and US markets as well as strengthen institutional offerings. Panter Protocol, DeFi/Privacy: $2M ⮕ The private funding round for $ZKP tokens ahead of their public launch was oversubscribed. More: Panter Protocol offers privacy-focused “zAssets” that allow for crypto compliance while maintaining user privacy through zero-knowledge disclosures. The fresh funding will be used to continue development on the protocol’s transactional privacy tools.  Panther previously raised $8M back in June to accelerate the launch of its public sale.  The public sale of $ZKP is expected sometime in the upcoming months.

▲ TOP GAINERS # Name Price 24h % 1 IOTA MIOTA $1.64 7.87% ▲ 2 EOS EOS $5.31 5.83% ▲ 3 Decred DCR $145.03 3.22% ▲ 4 Shiba Inu SHIB $0.000008265 2.52% ▲ 5 Bitcoin SV BSV $160.38 2.30% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Perpetual Protocol PREP $14.90 13.42%▼ 2 SushiSwap SUSHI $13.10 12.84%▼ 3 Hedera Hashgraph HBAR $0.4233 11.63%▼ 4 Synthetix SNX $12.91 10.52%▼ 5 Tron TRX $0.1046 9.54%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:00 p.m. ET.

SushiSwap (SUSHI) CTO Joseph Delong announced an 865 ETH ($3M) hack. The hacker allegedly injected malicious code into the front end of SushiSwap’s token launchpad platform Miso. More: The attack was undertaken by an anonymous GitHub user named “AristoK3.” Delong accused blockchain and web developer Eratos of being AristoK3 in a now-deleted Twitter thread. A fractionalized NFT project set to mimic the price of a 2007 Kia Sedona appeared to be the only project affected by the exploit. Last month, a white-hat hacker discovered and notified SushiSwap of a potential $350M exploit within the Miso platform, calling the exploit an “obvious misstep” by the security team.

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Over 60 crypto exchanges in South Korea will at least partially suspend trading by next week. The suspension and required notification of customers comes ahead of new regulations from the Financial Services Commission (FSC). More: 40 of the 66 crypto exchanges reported will be required to suspend all services. Only four exchanges, Upbit, Bithumb, Coinone, and Korbit, have properly registered under the new law to continue trading Korean Won-to-Crypto. The four registered exchanges account for over 90% of South Korea’s total trading volume. Twenty of the exchanges have met some regulatory requirements for allowing crypto-to-crypto trading services.

El Salvador’s Court of Accounts announced the investigation of complaints regarding the new bitcoin law. The investigation will cover government BTC purchases and the construction of cryptocurrency ATMs. More: The complaint was reportedly filed last week by Cristosal, a regional human rights and transparency organization. An audit of the authorization process for BTC purchases and a review of the construction of Chivo Wallet-linked ATMs were requested. The Court of Accounts is permitted to impose administrative and asset sanctions against government officials. It may also provide notice to the Attorney General’s office for criminal proceedings if necessary.

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Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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