The R Roundup: Uniswap 8 Million USD Phishing Attack — Issue #45
The market seems to be on red alert for any instance of events that could impact price due to the precious sentiment across the entire crypto economy. From hedge fund bankruptcies to lenders banning withdrawals, it hasn’t been far from an eventful bear market so far however the fall in price doesn’t impact opportunists looking for loopholes.
In what seemed like a bid for CZ trying to flag the incident, the Binance CEO tweeted that there may have been a potential exploit in Uniswap itself.
After then updating his followers to make it clear that it was a phishing attack, it was then confirmed that an unknown hacker stole from a liquidity provider on Uniswap. Smart contract security firm PeckShield claimed that the LP had fallen victim to a phishing attack resulting in the hacker stealing over 7,500 $ETH.
Phishing attacks have become prominent and it was reported that the hacker used a fake Uniswap airdrop as bait which then the LP interacted with exposing them to a malicious smart contract giving the hacker full autonomy over their wallet.
Founder of Uniswap Hayden Adams said that the attack was “totally separate from the protocol.”
Cryptopunks Maintain $ETH Activity 🖼
Crypto winter hasn’t just hit the top assets as we have seen a range of NFT floor prices fluctuate. With people attaching a range of value to different art forms, there is no doubt that some projects still maintain their “bluechip” characteristic.
Since the acquisition of CryptoPunks by Yuga Labs there has been expectations of where the project could go seeing the effort by Yuga Labs on extending the BAYC movement.
Ethereum which is seen as the base currency when trying to value NFTs has had a tough time in terms of price since the announcement of merge delays however staunch NFT collectors are still paying big bucks to acquire their digital identities in the form of CryptoPunks.
CryptoPunks bot track the sales and large bids for CryptoPunks on the Ethereum blockchain directly represents how confidence in reference to size in bids hasn’t gone anywhere for CryptoPunks.
There is no doubt that Punks are widely established as a dominating NFT project however concerns in $ETH’s future doesn’t seem like it will slow down people parking their precious ETH tokens into CryptoPunks with transaction heights being valued at around $3,312,000 (2,691 $ETH) for the Punk below.
Polygon X Disney 📺
Companies haven’t explored an industry with such vigorous nature like the way they are exploring blockchain and the latest to become a part of that is Disney with their accelerator program.
The aim of the initiative is too ‘accelerate’ the growth of innovative companies from around the world. The entertainment organisation looks to specialise in technologies like AR, NFTs and artificial intelligence.
Polygon has been named as the only blockchain partner part of the list involved in the accelerator program.
On-Chain Update⛓: Top DeFi Treasuries Down Around 90%🏦
Max pain has consensually been met for some investors with the chances of evading the Terra collapse, 3AC & Celsius being extremely slim for some DeFi protocols and their treasuries.
Some of the top defi protocols are evidently down almost 90% with the “dark blue” bars representing January 2022 and the “pink bars” representing treasury balances in June 2022.
The drawdown can be evidenced due to the bear market we are experiencing however could it be a further suggestion that defi needs clarity as fears for the future of decentralised finance grows.
As a reminder this is not a trading signal nor is it investment advice, it is an opinion and each trader/investor should know and understand the risks attached to trading cryptocurrencies. At no point should this be regarded as financial advice, feel free to familiarise yourself with our NFA disclaimer.
Additional links:
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Russian Defi: https://twitter.com/RussianDefi
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