Ethereum Bulletin #30

Sepolia Merge Announcement, Gray Glacier Upgrade Successfull, 2.5 Million Ethereum Removed, North Korea’s Lazarus group identified as hackers, OpenSea admits to email data breach, Coinbase Announces Support for altcoin and stablecoin project, Meta begins testing NFT's on profiles

Ethereum Bulletin #30


Sepolia Merge Announcement

Sepolia will be the second of three public testnets to run through The Merge.

With Ropsten already transitioned to proof-of-stake and shadow forks continuing regularly, Sepolia is now ready for The Merge. After Sepolia, only Goerli/Prater will need to be merged before moving to mainnet. Other testnets will be considered deprecated post-merge.

Post-merge, Sepolia will have a permissioned validator set, like existing proof-of-authority testnets. Goerli/Prater, which will merge at a later date, will maintain an open validator set to allow for stakers to test the transition.

To know more about the Sepolia Testnet Merge, read our
article here.
To track the merge visit

Gray Glacier Upgrade Successfully Implemented on Ethereum Network

The Gray Glacier upgrade which was initially scheduled for June 29 was later carried out on June 30 at block height 15,050,000 by Ethereum Core developers.

The Gray Glacier upgrade is a type of network upgrade that changes the parameters of the Ice Age or Difficulty Bomb, pushing it back by 700,000 blocks, or roughly 100 days.

To know more about the Gray Glacier Upgrade, have a follow up on our article here.

2.5 Million Ethereum Removed from Existence

More than 2.5 million ETH coins were removed from existence for good. The burned amount equals more than $2.6 billion. Net issuance remains at 1.8 million coins with a 52% reduction since implementing the burning mechanism.

For now, the burning mechanism removes around 4,000 ETH from circulation daily, allowing the market to avoid an additional $4.3 million worth of pressure every day. The daily net issuance stays at around 7,000 ETH.

North Korea’s Lazarus group identified as hackers behind Horizon Bridge’s $100M hack

Last week, Harmony Protocol lost $100 million stolen from its Horizon Bridge. Latest report shows that North Korea's Lazarus Group has been behind this.

London-based Elliptic Enterprises conducted a thorough search after the theft last week. Research into the Theft patterns shows common tactics used for crypto thefts by the North Korea-based Lazarus Group.

Elliptic also added that the thief compromised the cryptographic keys of a multi signature wallet. This is a common technique used by the Lazarus Group in the past.

Elliptic further added:

"Our analysis of the hack and the subsequent laundering of the stolen cryptoassets also indicates that it is consistent with activities of the Lazarus Group – a cybercrime group with strong links to North Korea.
The Lazarus Group has perpetrated several large cryptocurrency thefts totaling over $2 billion, and has recently turned its attention to DeFi services such as cross-chain bridges. For example, the group is believed to be behind the $540 million hack of Ronin Bridge.

NFT Market place OpenSea admits to email data breach

One of the top NFT market places, OpenSea, has admitted that they had a major security breach and warned their users that they might have been impacted.

OpenSea said it learned that an employee of, its email delivery vendor, misused employee access to download and share email addresses - provided by OpenSea users and subscribers to its newsletter - with an unauthorised external party.

"If you have shared your email with OpenSea in the past, you should assume you were impacted. We are working with in their ongoing investigation, and we have reported this incident to law enforcement" - OpenSea

OpenSea cautioned users to stay vigilant about their email practices, and be alert for any attempt to impersonate OpenSea via email.

In February this year, OpenSea was hit by a phishing attack and at least 32 users had lost their valuable NFTs worth $1.7 million.

Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and a stablecoin project

Coinbase says Boba Network (BOBA) and Gemini USD (GUSD) will start trading paired with Tether (USDT) once appropriate liquidity conditions are met.

Boba Network utilizes optimistic rollups, a less stringent and data-heavy method of transaction verification than traditional zero-knowledge rollups. Native token BOBA can be used for governance and staking.

Gemini USD a stablecoin created by the Gemini cryptocurrency exchange, aims to peg its value to the US dollar.

According to the project website, not only can users trade their dollars 1-to-1 for GUSD, but the altcoin can also be used to swap for other crypto assets on decentralized exchanges (DEXs).

Currently, Gemini Dollar is valued slightly less than a dollar at $0.98.

Meta begins testing Ethereum and Polygon NFT's on profiles

Meta has begun rolling out NFT's for some of the US creators. They are initially starting with Ethereum and Polygon NFT's and will sood add SOlana and Flow NFT's.
Here, the users will have a new tab on their Facebook Profiles named "digital collectibles". The users can showcase their NFT's.

Users can also connect their cryptocurrency wallets to their profiles. Users can also turn their NFT's into Facebook posts and like any other posts, they can be liked, commented and reacted to.

Disclaimer: The information contained on this web page is for education purposes only. Readers are suggested to conduct their own research, review, analyze and verify the content before relying on them.

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