Here are some of the major developments from the world of crypto over the past few days
Curve Finance, a decentralised finance (DeFi) protocol, is offering a bug bounty to anyone who can identify the exploiter accused of stealing over $61 million from its pools on July 30, 2023. It is now extending a $1.85 million bug bounty offer to anyone who can identify the exploiter of its stable pools.
On August 3, 2023, Curve and other protocols affected by the assault offered the hacker a 10 per cent bug bounty totalling more than $6 million.
When the hacker accepted the offer, he restored stolen assets to Alchemix and JPEGd, but did not finish payouts to the other impacted pools. Since the time has now elapsed, anyone who can identify the attacker will now be awarded with $1.85 million in assets.
“At 0800 UTC, the deadline for the voluntary return of funds in the Curve exploit passed. We have now extended the bounty to the general public and are offering a reward of 10 per cent of the remaining exploited monies (now $1.85M USD) to the person who can identify the hacker in a fashion that leads to a court conviction,” Curve Finance said.
NFT Volumes Lower To Nearly Half In July
In the ongoing bad market, non-fungible token (NFT) volumes have continued to fall, falling by nearly half in July 2023. According to NFT data aggregator CryptoSlam, US dollar sales volume declined roughly 42 per cent in July this year, starting at $22 million per day and down to $12.8 million on July 31.
July’s decrease follows a big rebound in late June, with daily sales volumes reaching at over $58.5 million on June 27, the highest trading day since March 16, when they reached $61.9 million.
NFT royalties are also stinging creators. According to a July 25, 2023 Nansen report, just 9.4 per cent of the 699,816 ETH in royalties paid to NFT projects were paid in the first half of 2023.
According to Nansen, the effective fee rate for royalties has been declining significantly. Royalties were 2.5 per cent on average in 2022, but by July 2023, they had decreased to 0.6 per cent, down by 98 per cent.
CoinGecko Has Index For Crypto Tokens Alleged as securities
CoinGecko has released a new index that tracks the largest crypto tokens deemed likely securities by the US Securities and Exchange Commission (SEC). According to CoinGecko, nearly $85 billion worth of crypto falls under the category of “alleged SEC securities”.
The “Top Alleged Securities Coins” page arranges a list of crypto assets by market capitalisation, with BNB at the top, followed by Cardano, Solana, and TRON.
According to a CoinGecko representative, the index was introduced in the first week of August 2023 and was created by gathering a selection of the most significant tokens that have been designated securities by the SEC in previous lawsuits.
In its most recent litigation against crypto exchange giants Coinbase and Binance the SEC increased the number of tokens it considers as securities to 68, whereas CoinGecko only listed 24.