Ethereum Bulletin #31

Ankr resolved the DNS hijack, FTX has pulled back its deal with Celsius, Flipkart launched Fire drops 3AC is censured by the Singapore Central Bank for making false and misleading disclosures, BlockFi to be bought by FTX for $25 million.

Ethereum Bulletin #31


Ankr resolved the DNS hijack

Ankr's public RPC gateway for Polygon and Fantom was compromised on July 1 due to DNS hijacking. The attacker gained access to Ankr's account through Gandi (customer agent compromise), which is what led to the DNS Hijack. Ankr took quick action and has acquired access to the account once more. According to Ankr, "This occurred because a third party we utilise for DNS found a way to change some settings on our accounts. Unfortunately, DNS is not decentralised.

Can you always withdraw your deposited funds?

People have been more careful with their money and investments in the crypto space as a result of the significant impact that Celsius's decision to disable fund transfers has had on the cryptocurrency market. Therefore, the crucial queries are: Can you really withdraw your funds? Here is a thorough thread that explains the same thing while taking into consideration different protocols.

FTX has pulled back its deal with Celsius after noticing "a $2 Billion dollar hole" in its finances

After reviewing at Celsius's finances, FTX chose not to move through with initial discussions with Celsius about providing financial support or making an acquisition. With a $2 billion hole in its balance sheet, Celsius presented a challenge for FTX. Since suspending all withdrawals on June 12 because to "extreme market conditions," Celsius has been fighting for its life. Since then, client funds have been stuck. In May, Celsius reported having 1.7 million clients and managing about $12 billion in assets.

Flipkart launched Fire drops

Flipkart is India's largest online shopping platform and it has recently stepped up its game by introducing Fire Drops by Flipkart.

Staking on low-powered devices

The merge of the Ethereum mainnet and beacon chain is coming sooner than you think, after which the PoS consensus protocol will be enabled. This. As a result, it's encouraging to see new PoS adoption and usage solutions emerging. A blockchain developer at Rocket Pool recently unveiled a model prototype that will validate the beacon chain using less than 10 watts of power. Details are provided in the thread below.

Three Arrows Capital is censured by the Singapore Central Bank for allegedly making false and misleading disclosures

The troubled cryptocurrency hedge fund Three Arrows Capital was censured by Singapore's central bank, the Monetary Authority of Singapore (MAS), for allegedly misinforming it. They claimed that the fund intentionally misrepresented its assets under management over a period of time and submitted misleading information on its balance sheets. The company had informed MAS that, as of September 2021, it will be managing its fund through a separate British Virgin Islands corporation. However, MAS said that this depiction was false since it omitted the fact that Zhu Su, a co-founder of 3AC, shared ownership of both firms and acted as a director of the Singapore corporation.

BlockFi, a distressed cryptocurrency lender, will soon be bought by FTX for $25 million

BlockFi will be purchased by FTX for about $25 million. BlockFi is evaluating several proposals. At its most latest valuation of $4.8 billion which was way higher than the that offered by FTX , the cryptocurrency lender "wiped out" equity investors in BlockFi and forced them to write off the value of their losses. Recently, FTX gave BlockFi a $250 million emergency line of credit. The time it takes to complete the acquisition and the final price may differ.

Facebook begins testing NFTs with select creators in the US

Facebook has started working with a few US creators to promote digital collectibles. Creators will be able to display NFTs on their profiles under a new tab thanks to the new feature. NFT artwork on Facebook will display a label for digital collectibles. There won't be any costs associated with sharing or posting digital collectibles. For the time being, digital collectible posts cannot be made into advertisements.

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