564: DeFi Hacks, Debt Ceiling and Crypto, and Binance’s Return to Japan

Overnighters,

Episode 564:
Jimbos Protocol Hacked for $7.5M
Debt Ceiling Agreement
Binance Returns to Japan
and More

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The TL;DL

Jimbos Protocol Hack for $7.5M - The DeFi platform, Jimbos Protocol, suffered a major hack, losing 4,000 ETH ($7.5M). The exploit, due to a lack of slippage control, has put the spotlight on DeFi security issues.

Tornado Cash Governance System Attack - Tornado Cash, an Ethereum protocol, is set to regain control after a malicious attack. The incident, involving the theft of governance tokens, underscores the need for robust crypto security.

Debt Ceiling Agreement - President Biden and Representative McCarthy have reached an agreement to raise the U.S. debt ceiling. Analysts suggest this could lead to more capital flowing into Bitcoin, impacting the crypto market.

Nigerian Platform Halts Withdrawals - Patricia, a Nigerian crypto trading platform, has halted withdrawals following a security breach. The incident highlights the ongoing security challenges in the crypto industry.

Binance Returns to Japan - Binance is making a comeback in Japan after a five-year absence. The move, following the acquisition of Sakura Exchange Bitcoin, signals a significant shift in the Japanese crypto market.

Hong Kong’s Meta Police - The Hong Kong Police Force has launched CyberDefender, a metaverse platform aimed at educating the public about Web3 risks. This initiative marks a significant step in cybercrime prevention.

Crypto Overnighter Podcast (5/28/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

Email: nick@cryptoovernighter.com
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