News linked to both this project and an event.
on-chain detective ZachXBT disclosed in a personal channel post that a whale suspectedly suffered an asset theft a few hours ago, with approximately 180,900 SOL (worth about $14.2 million) being abnormally transferred. ZachXBT stated that he collaborated with another on-chain security analyst, Specter, to analyze the related transactions, identifying unusual unstaking activities and fund transfers from the Solana network across to Ethereum. It is reported that the address belongs to one of Solana's early participants and is associated with the Genesis block allocation. This unusual operation involves a large amount of SOL assets. The specific attack method, destination of the funds, and whether it was due to a private key leak have not yet been confirmed.
Odaily A federal judge for the U.S. District Court for the District of Connecticut has revived common law fraud claims in the Genesis Yield lawsuit against Digital Currency Group founder Barry Silbert, DCG, and other defendants, while allowing federal securities law claims in the case to proceed.The ruling amends a prior decision by the court from February of this year. The plaintiffs had argued that the court has jurisdiction to hear their state law claims under the Class Action Fairness Act. Judge Stefan Underhill accepted this argument and reopened the relevant state law claims.The case revolves around the defunct Genesis Yield lending program, which allowed users to deposit crypto assets and earn interest. Investors allege that Silbert, DCG, and other defendants misled customers about the company's financial health and risk controls before Genesis suspended withdrawals and filed for bankruptcy in early 2023.However, not all state law claims were revived. The court dismissed consumer protection claims from four states and stayed related claims from three others. Overall, the ruling re-centers the dispute regarding fraud liability for DCG and Silbert as a focal point of the case. (The Block)
A whale address that participated in the HYPE genesis distribution recently executed large-scale transfers, with some tokens moved to Coinbase; the cumulative profit is estimated to exceed $94 million.