SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
Sushi Chef Addresses SEC Subpoena
Jared Grey, head chef of Japan-based DAO, Sushi, stated that no one associated with Sushi has violated U.S. federal security laws in response to a subpoena from the SEC. Grey is cooperating with the SEC and stated that it is unknown whether further subpoenas will be issued to others linked with Sushi.
Allbridge Recovers $465,000 Stolen in Crypto Exploit
Allbridge has recovered $465,000 worth of cryptocurrency stolen in a recent exploit, after the attacker apparently took the project's offer for a white hat bounty and returned the funds. The stolen funds were converted to Binance USD and used as compensation. Allbridge had previously offered the attacker a chance to escape legal repercussions and receive a bounty for finding vulnerabilities. The project has yet to publicly disclose the total amount stolen but blockchain security firms estimate it to be close to $550,000.
Rogue Validator Outsmarts MEV Bots, Resulting in a $25 Million Loss
MEV bots attempting sandwich trades lost $25 million worth of digital assets to a rogue validator. The loss included Wrapped Bitcoin, USD Coin, Tether, Dai, and Wrapped Ether. Blockchain security firm CertiK explained that the attack was due to the centralization of power with validators, making them vulnerable to such attacks.
Declining trend in physical crypto ATMs
The number of physical cryptocurrency ATMs is declining, with 3,627 removed in March 2023, according to Coin ATM Radar. The trend of increasing installations is reversing, with the highest number of machines installed in a single month being 2,048 in January 2021. The three-month-long downtrend was broken in April with 37 installations. General Bytes, BitAccess, and Genesis Coin are the current market leaders in manufacturing crypto ATMs. General Bytes faced a security incident in March and promised to reimburse customer losses.
FTX EU Launches Website for Customer Withdrawal Requests
FTX EU has launched a website for European customers to submit withdrawal requests following the global trading platform's collapse and bankruptcy in November 2022. The Cyprus Securities and Exchange Commission reportedly approved the new website domain name, which will only be used to pay back impacted customers and will not offer any products or services.
DeFi Execs Argue KYC as Solution to Combat Money Laundering in the Industry
DeFi executives at the WOW Summit in Hong Kong endorse KYC as a solution to tackle AML issues and combat hackers laundering stolen funds into clean money. However, there are concerns that KYC alone will not solve all AML problems and that different mechanisms should be used for different solutions.
Thailand SEC Eases ICO Restrictions
Thailand’s Securities and Exchange Commission (SEC) plans to lift restrictions on retail investment in initial coin offerings (ICOs). The SEC aims to permit bigger investments in asset-backed ICOs, including those backed by real estate and infrastructure.
Core's Revolutionary Satoshi Plus Consensus Marries Decentralization, Security, and Scalability
Core is a novel layer one blockchain that is pushing the boundaries within the crypto space. Inspired by Bitcoin and Ethereum, Core progresses beyond those blockchain behemoths by synthesizing each of their superpowers. A student of blockchain history, philosophy, and innovation, Core optimally balances decentralization, security, and scalability.
Blockfence and Forta Network Collaborate to Enhance Web3 Users’ Security
Blockfence, a security aggregation provider, has teamed up with Forta Network, a decentralized monitoring network specializing in Web3 threat detection and prevention. This collaboration aims to improve the security of Web3 users by identifying suspicious Ethereum smart contracts using Forta's monitoring platform. As a result, Blockfence users will be better protected from potential losses caused by wallet drainers, phishing, and other scams.
SEC Chief to Testify Before House Committee on Crypto Oversight
SEC chief Gary Gensler will face questioning from the House Financial Services Committee on April 18 regarding his approach toward the crypto ecosystem. The committee will focus on Gensler's rulemaking and approach toward crypto assets and lay down a regulatory sphere for digital assets.