TL;DR
- Over $2.22 million was lost in multiple DeFi hacks.
- Manchester City partners with OKX to launch an exclusive NFT collection.
- The TON Foundation announced reward opportunities for active NFT traders and holders.
- Trust Wallet and GoMining unveil the Trust Box NFT collection.
Blockchain Hacks
Magpie, the decentralized liquidity aggregation protocol, was exploited due to a smart contract vulnerability, which resulted in a loss of assets worth approximately $129,000. The incident targeted approximately 221 wallet users. The root cause of the exploit is a lack of input validation in the call data parameter.
Yiedl was exploited on the BNB chain due to a smart contract vulnerability, which resulted in a loss of 260 BNB, worth approximately $160,000. The root cause of the exploit is due to insufficient parameter validation. In this blog, we have shared a detailed analysis of the exploit.
XBridge was exploited on the Ethereum Mainnet and the BNB chain due to a smart contract vulnerability, which collectively resulted in a loss of assets worth approximately $1.44 million. The root cause of the exploit is a faulty smart contract implementation caused by a lack of regulated access control. On the Ethereum Mainnet, the exploiter has already transferred 20 ETH worth approximately $63,264 into Tornado Cash. Likewise, the address of the exploiter on the BNB chain has already laundered 230.1 BNB worth $135,340 into Tornado Cash. We have also shared a detailed analysis of the exploit in this blog.
Pike Finance was exploited across multiple chains due to a smart contract vulnerability, which resulted in a loss of assets worth approximately 299,127 USDC. The root cause of the exploit is a forged CCTP message to drain the assets on the Ethereum, Arbitrum, and Optimism networks.
FENGSHOU, or the NGFS token, was exploited on the BNB chain due to a smart contract vulnerability, which resulted in a loss of assets worth approximately $191,000. The root cause of the exploit is a faulty smart contract implementation caused by a lack of regulated access control.
Metaverse, and NFTs
Manchester City Football Club is making significant progress with the launch of its newest NFT collection, called the Unseen City Shirts NFT, through a collaboration with OKX. The excitement around the launch of this collection is palpable, with all the virtual collectibles that could allow access to these jerseys already claimed. These NFTs are distributed as complimentary items and present a range of thrilling opportunities for football enthusiasts, depending on the volume of assets they hold. The next set of free NFTs in this series will be issued with OKX on April 29, turning the iconic Manchester City 2023/2024 jersey into limited-edition digital collectibles. Expectations are for various levels of rarity in the upcoming NFTs, with some being classified as rare and others as ultra-rare, providing exclusive Manchester City perks.
The TON Foundation has unveiled an airdrop initiative for active NFT traders and collectors. This airdrop will distribute a total of 105,600 TON tokens, valued at approximately $600,000, to qualified participants on renowned Ton NFT marketplaces such as Getgems, xRare, and Ton NFT Diamonds. The eligibility snapshot was captured on April 23, including only those who traded NFT collections from April 11 to April 23, with subsequent trading activities not considered for the airdrop. This initiative does not include Sybil wallet addresses, non-wallet addresses, or NFT collection owners who did not engage on the designated platforms. The allocation of airdrop points was determined by several criteria, including the variety of NFT collections traded. Additional points were available based on the total number of NFT transactions and the overall trading volume per participant. After accumulating sufficient points, participants can exchange them for TON tokens.
Trust Wallet teamed up with GoMining to introduce a new NFT collection titled Trust Box, which features virtual miners. This collection seeks to merge Web3 advantages with incentives linked to mining operations, providing daily Bitcoin payouts and a portion of a GOMINING token airdrop, totaling up to 200,000 tokens. Additionally, Trust Wallet manages a Bitcoin mining framework, and holders of the Trust Box collection will benefit from a share of the computational power supplied by GoMining. The initial phase includes a discount whitelist for NFTs, granting early access to purchasers. The subsequent phase features a limited presale that offers a 5% discount and airdrop perks for participants. Users can accumulate points by completing various tasks, with each entry potentially earning up to 1,000 tokens. The final phase will be the public sale, and while Trust Wallet and GoMining highlight the reward opportunities with the Trust Box collection, comprehensive details are pending.
OnChain Insurance Industry News
Neptune Mutual’s first Snapshot governance vote came to an end over the weekend, and qualifying cover pool LPs can now look forward to collecting 375,000 NPM token emissions over the course of Epoch #0001, which is expected to close on May 27, 2024. Cover pool LPs will need to lock their PODs, or proof-of-deposit tokens, to qualify for NPM emissions.
Cover pool LPs can boost the allocation of NPM tokens they receive by locking up their NPM tokens in exchange for veNPM tokens. When doing this, cover pool LPs should use the same wallet that they used for providing cover pool liquidity. To help cover pool LPs understand exactly what they need to do, Neptune Mutual has published an in-depth guide on YouTube called “Tutorial 4: Navigating the veNPM 1 Liquidity Gauge Features.”
Bumper Finance announced the opportunity for community members to level up their BUMP token holdings with the launch of their Bumper DAO staking rewards.