Poly Network hacker held AMA session / Messi to get a mess of PSG fan tokens / Fresh funding

Plus: London upgrade to Ethereum network saw $100M in ETH burned in first week.

Inside.com Part of   Network August 12, 2021

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The global crypto market cap is $1.85T 4.64%▼  with a 24-hour market volume of $125.77B 4.74%▲. Bitcoin's dominance is currently 45.05% 0.09%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $44,353.18 4.28% ▼ 2 Ethereum ETH $3,048.46 5.58% ▼ 3 Binance Coin BNB $382.84 3.59% ▼ 4 Cardano ADA $1.76 5.95% ▼ 5 XRP XRP $0.9649 0.65% ▼ *Prices as of 2:30 p.m. ET.

The hacker responsible for the largest DeFi hack on Poly Network held an AMA answering questions about the hack. The hacker said he wanted to “teach a lesson” and plans to return all $600M of the stolen funds. More: The hacker stated the attack was “for fun :)” and targeted Poly Network because “cross-chain hacking is hot.” DeFi platform ChainSwap suffered from a $2M cross-chain hack a month before Poly Network. The hacker will continue returning funds slowly to Poly Network to give the team “rest” and maintain their anonymity.

Linoel Messi will receive a “large number” of PSG fan tokens (PSG) as part of his two-year deal with PSG. PSG tokens are made available through the Chiliz (CHZ) blockchain. More: Messi is the first soccer player to receive fan tokens as part of their financial package. Chiliz is a sister company of Socios, which offers over 50 fan tokens for clubs like FC Barcelona, Juventus, Manchester City, and others. The total amount of PSG tokens is unclear, but Messi’s total financial package is reportedly valued at around $47M.

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🍋Fresh Funding🍋 Dune, Crypto Analytics: $8M ⮕ The Series A funding round was led by Union Square Ventures and participated in by Redpoint Ventures, Dragonfly Capital, and Multicoin Capital. More: Dune is a crypto data analytics startup that supports data for Ethereum, Polygon, Optimism, and xDAI blockchains. The startup will use its fresh funding to expand its team, launch a new data platform, and support additional blockchains. Dune’s platform currently offers a free tier and a premium subscription starting at $390 per month. TaxBit, Crypto Tax Services: $130M ⮕ IVP and Insight Partners led the Series B funding round with participation from Tiger Global, Paradigm, Paradigm, Sapphire Ventures, and others. More: TaxBit previously raised $100M in a Series A funding round back in March. The Utah-based accounting firm and crypto tax software provider reached a post-round valuation of $1.33M. TaxBit was awarded $1M from the IRS in May to provide information and assistance on crypto tax collection.

Crowdfunding platform DAO Maker suffered an exploit for $7M in USDC. The incident was revealed in a post-mortem report from DAO Maker. More: The attack may have resulted from a “dumb bug” in a smart contract that may have given the hacker privileges to transfer funds out. All deposits sent to the suspected smart contract have been deactivated. The incident affected over 5,000 users, with each affected user averaging a loss of $1,250.

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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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