Morning Post - October 7

headlines

▌BNB Chain: Network operation has been suspended, and potential vulnerabilities are being investigated

BNB Chain tweeted that due to abnormal activities, it is currently under maintenance and temporarily suspends all deposits and withdrawals through the BNB Chain until further updates. “We have suspended the BNB Chain after identifying potential vulnerabilities, all systems are now under control, we are investigating potential vulnerabilities, we know that the community will assist and help freeze any transfers”. On October 7th, Binance CEO Changpeng Zhao tweeted that a loophole in the BNB Chain cross-chain bridge "Token Hub" (Token Hub) resulted in additional BNB.

▌The European Union confirms a comprehensive ban on providing encryption services to Russians

The European Union has confirmed a blanket ban on providing crypto services to Russians, with the European Commission saying in a statement that the existing ban on crypto assets has been strengthened by banning all crypto asset wallets, accounts or custody services. The European Commission's proposal last week was endorsed by EU governments. The previous crypto sanctions were published in the Official Journal of the European Union and applied to Russian citizens, residents and entities unless they reside in the EU. This follows news on September 29 that the European Union will strengthen restrictions on Russians' crypto investments within the EU in response to a referendum in Russian-occupied Ukraine. The previous cap of 10,000 euros ($9,600) in crypto holdings will be abolished, which could mean Russians will no longer be able to hold any assets in EU crypto wallets, according to people familiar with the matter.

policy

▌FBI Issues Cryptocurrency Investment Warning

A warning issued by the Federal Bureau of Investigation (FBI) pointed out that the Miami office of the FBI has cooperated with the Internet Crime Complaint Center (IC3) in the United States to investigate the "killing dish" involving cryptocurrency. Investment plans warn. Fraudsters will masquerade as very successful cryptocurrency traders, contact victims through various social media or dating apps, or pose as potential friends or partners and spend a lot of time gaining the trust of victims, offering false returns to lure Victims make so-called investments. The FBI issued five reminders: 1. Verify the validity of any investment; 2. Watch out for domain names posing as legitimate financial institutions, especially cryptocurrency trading platforms; 3. Watch out for misspelled URLs; 4. Do not download or use suspicious apps Program as an investment tool; 5. Be careful of any high-yield investment products. As previously reported, Coinbase also issued a warning about killing pigs in crypto investment scams in August.

▌Monetary Authority of Singapore: Not all activities related to cryptocurrencies are regulated

Tharman Shanmugaratnam, Senior Minister and Minister in Charge of the Monetary Authority of Singapore, said in response to a parliamentary question that not all activities related to digital payment tokens (DPT) are regulated, and companies providing services involving the purchase, sale or facilitation of DPT exchange will be subject to Singapore Regulation under the Payment Services Act 2019 (PS Act). As previously reported, Sopnendu Mohanty, chief financial technology officer of the Monetary Authority of Singapore, said that cryptocurrency speculation will be severely cracked down.

cryptocurrency

▌The Zcash blockchain has been attacked by spam, and node operators have been severely damaged

An unidentified spammer is currently wreaking havoc on Zcash node operators by flooding the Zach blockchain's transaction blocks with masked transaction outputs. According to blockchain explorer data, Zcash miners have verified a block with four shielded transaction outputs at block height 1832666. While the motivation for this attack has yet to be determined, the goal was to impact the Zcash network and prevent would-be node operators from participating in the network by causing nodes to fail due to memory, performance, and synchronization issues. According to the analysis, the method used by hackers on the Zcash blockchain is the so-called "Eclipse attack", that is, to deceive the network nodes by creating an artificial environment around the network nodes so that they can receive false transaction confirmations.

▌Greyscale launched an investment entity centered on Bitcoin mining

Grayscale announced the launch of Grayscale Digital Infrastructure Opportunities (GDIO), an investment entity centered on Bitcoin mining, which will be open to investment from "qualified" individual and institutional accredited investors. Rayhaneh Sharif-Askary, Grayscale’s head of investor relations, said GDIO will use the investment funds to purchase mining equipment as it will be sold at a possibly discounted price in the coming months. Over the next few months, we expect some miners to be forced to liquidate their mining rigs. GDIO will then deploy the equipment to mine bitcoins, sell bitcoins daily, and distribute the resulting cash to investors, generating revenue.

important economic developments

▌ECB Minutes: Most members expressed their preference for raising the ECB's key interest rate by 75 basis points

ECB Minutes: Most members expressed a preference for a 75 basis point increase in the ECB's key interest rate, with most agreeing that rates are still "significantly" below the neutral level.