Fei Protocol tweeted that they had paused borrowing to avoid further thefts, and offered a $10 million bug bounty if the hacker returned the money.
$80 million stolen from Fei Protocol and Rari
SEC files fraud complaint against NASGO organizers
- "SEC Alleges Fraud in Digital Asset Securities Offerings", U.S. Securities and Exchange Commission
Deus Finance exploited for $13.4 million in the second hack in two months
Deus had suffered a similar attack in March, with an attacker using a flash loan attack to steal more than $3.1 million. Deus reimbursed users who were liquidated in the incident.
According to Deus' CEO, the exploit in this incident was not the same one used in the previous attack. He wrote on Twitter that the exploit was "the first of its kind, a zero-day exploit on Solidly [decentralized crypto exchange] swaps".
Central African Republic adopts Bitcoin as legal tender
The Bank of Central African States (BEAC) has expressed surprise at the CAR's choice, saying that they only learned about it along with the rest of the public. Two former prime ministers of the CAR co-authored a letter stating that adopting Bitcoin as legal tender without guidance from the BEAC was a "serious offence".
Scammers create fake Louis Vuitton NFT project
The project airdropped these NFTs to NFT whales, causing some trackers used by people who follow and imitate whales' behavior to believe the whales themselves had minted the NFTs. The site then used a random counter to make it appear that the NFTs were quickly selling out, causing people to quickly mint their NFTs in fear of missing out. One NFT collector recounted her experience falling for the scam, buying five of the NFTs for a total of 0.6 ETH (~$1700) in hopes of striking it rich on a newly-launched project before it became widely known.
An examination of the website source code shows that the project is reusing code from a different scam based around World Cup themed NFTs.
Representative Madison Cawthorn faces accusations of insider trading and disclosure violations related to Let's Go Brandon coin
Fidelity plans to allow people to put retirement savings into Bitcoin
The Employee Retirement Income Security Act of 1974 requires plan fiduciaries to act solely in the financial interest of plan participants, and the U.S. Department of Labor issued guidance in March reminding plan fiduciaries of this duty, urging them to "exercise extreme care before including direct investment options in cryptocurrency". In a blog post shortly after, the DoL wrote that they had "serious concerns" about plans that would expose participants in cryptocurrencies and related products, outlining risks including valuation concerns, obstacles to making informed decisions, price volatility, and a still-developing regulatory landscape.
A Fidelity executive said that the company "believe[s] they should withdraw that guidance".
MetaDocs NFT project wants TikTok-famous doctors to diagnose you, but they don't have a license
Whether they actually get close to that dream very much remains to be seen. The project has faced several setbacks, including complaints from doctors whose likenesses were used without permission, and lack of any telemedicine license that would allow doctors to actually provide remote medical services. The project has also faced criticism for hosting "Ask a Doc" chats where physicians answered various questions without clarifying they weren't providing medical advice, for listing "physicians" in their whitepaper who were still completing residency, and for pledging to donate its first $1 million in revenue to an autism-related charity which has promoted the false claim that vaccines cause autism and has described autism as a disorder that needs to be "cured".
Reggie Fowler pleads guilty to fraud in Crypto Capital case
After initially rejecting a plea offer that would have allowed him to plead guilty to one felony if he forfeited up to $371 million, Fowler ultimately decided to enter an open plea to the charges against him and skip a trial. He pled guilty to five charges: bank fraud, conspiracy to commit bank fraud, operating a money transmitter business, conspiracy to operate a money transmitter business, and wire fraud. Fowler faces a maximum sentence of 90 years in prison.
FTX founder Sam Bankman-Fried tries to explain yield farming and it's just a ponzi
Levine responded, "I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good."
- "FTX/ Defi: If it looks like a duck and quacks like a duck . . . ", Financial Times