Weekly Report (Jun-05)


  • All Nippon Airways (ANA) takes flight with the travel-inspired NFT.
  • FC Barcelona is set to release eco-friendly NFTs.
  • Sony has launched a Web3 incubator program.

Blockchain Hacks

A white-hat hacker exploited EDE Finance via price manipulation for approximately $580,000 worth of funds. According to the on-chain message by the exploiter, the deployers of the protocol had reportedly created a bot to force liquidate any position of their choice whenever they wanted. The attacker has already returned funds worth 333,948 USDC and 86,222 USDT.

BlockGPT was identified as a scam. Funds worth 816 BNB, amounting to approximately $256,000, raised in a pre-sale contract have been laundered into Tornado Cash.

The project MoveCash on the BNB Chain was identified as a rug pull, in which funds worth approximately $134,000 were swept away. The deployer of the protocol locked 784 BNB on May 17, 2022. All of the liquidity in the pool was unlocked and ultimately drained.

Pixel Penguin was identified as a rug-pull in which users and investors’ funds worth 61.686 ETH, amounting to approximately $117,000, were stolen. The project was created by Hopeexist1 as a charity offering to raise funds for someone supposedly battling cancer. The social media accounts of Pixel Penguin and Hopeexist1 were subsequently deleted.

One of the deployer private keys for unshETH contracts was compromised. The team paused withdrawals to prevent further damage to the protocol. The exploit impacted certain ancillary protocol contracts such as farms and bridges; however, unshETH ether deposits with a total locked value of $35 million remained secure with multisig and time lock. The hacker reportedly took away funds worth approximately $375,000.

Cellframe Network was a target of a flash loan attack, which resulted in a loss of funds worth 245.52 BNB, amounting to approximately $76,112. The price of their CELL token dropped by over 65% following the occurrence of the exploit. The initial source of funds for one of the addresses controlled by the exploiter has many records of withdrawals from Binance.

DD Coin was the target of a flash loan attack, which resulted in a loss of funds worth approximately $126,000.

The Discord server of Orbiter Finance was compromised, after which a phishing link to a fake airdrop was shared across its multiple channels. Funds worth approximately $213,000 were stolen by a scammer called Pink Drainer.

Meta Nile was reportedly identified as a rug pull, in which funds worth approximately $66,700 were swept away. The deployer of the token drained all of the liquidity from the NILE/USDT LP, which resulted in a 100% drop in the token price.

The Twitter account of Mira Murati, CTO of OpenAI, was compromised. The attacker leveraged the compromised account to execute a fraudulent cryptocurrency airdrop, revolving around a malicious ERC-20 token named OPENAI. The tweet on the bogus airdrop managed to reach an estimated 80,000 users, and funds worth approximately $110,000 were reportedly stolen.

Users of the Atomic Wallet were exploited, citing reasons for the compromise of their private keys. In February 2021, Least Authority, an auditing firm, raised red flags, stating that Atomic Wallet is insufficiently secure in protecting user assets and private data. According to various sources, over $35 million worth of stolen funds had been identified, and one victim lost nearly $8 million worth of USDT due to the incident. ZachXBT, an on-chain sleuth, coordinated with Buffalo, the pseudonymous CEO of Jito Labs, and an employee at the MEV infrastructure company to help rescue $1 million worth of funds from one of the affected victims.

Metaverse, and NFTs

All Nippon Airways (ANA), the largest Japanese airline, has entered the Web3 realm by adopting a travel-inspired NFT via its new marketplace, ANA GranWhale. Luke Ozawa, a renowned aerial photographer, has created a limited-edition inaugural art collection for ANA GranWhale, which is being launched in conjunction with its subsidiary, ANA Neo. For 100,000 yen each NFT, Ozawa offers a breathtaking aerial view of the world, enabling spectators to discover its natural splendor and sky-high wonders. Additionally, ANA GranWhale is getting ready to release its second collection of NFTs, which will showcase images of ANA’s iconic Boeing 787 aircraft. Each NFT in a set of 1,574 digital artifacts will feature a meticulously designed 3D model of the aircraft and is sure to draw both history buffs and aviation fans.

FC Barcelona kicked off a new initiative in collaboration with Plastiks to tackle the environmental crisis of plastic waste. The goal of this joint alliance is to retrieve at least 1 million kilograms of plastic in an effort to enhance environmental preservation through improved waste management. The club is offering exclusive benefits through its Unleash Your Passion campaign, which consists of 3,000 animal-themed FC Barcelona NFTs sold at a price of $30 each. Additionally, collectors of these items will have the once-in-a-lifetime chance to own a signed shirt from an FC Barcelona player, underscoring the team’s dedication to encouraging sustainability among its large user base. Each asset’s sale proceeds will go toward supporting environmental protection initiatives.

Sony introduced a novel incubation program targeted at accelerating digital transformation in Tokyo and the Cosmize Metaverse. This initiative, in conjunction with Startale Labs and Astar Network, will host its Demo Day on June 18. It will act as a platform that speeds up the growth of international businesses by providing financial and technical support. The event is set to witness participation from major Web3 startups from around the world, regardless of their development phase. Sony Network Communications and Astar have selected only 19 projects for their incubation program from a pool of more than 200 applicants after carefully assessing their technology, team, and product appeal. Participants in this program have the chance to gain knowledge through sessions taught by renowned venture capitalists and leading Web3 businesses. The program gives participants the chance to develop through mentoring and gives them access to the vast resources of Sony Network Communications for cooperation and assistance.

OnChain Insurance Industry News

Neptune Mutual announced that cBridge, powered by Celer Network, has been integrated into their platform, enabling users to seamlessly bridge NPM tokens between Arbitrum and Ethereum.

Bumper Finance announced that phase 1 of their liquidity mining program has ended, during which BUMP tokens were distributed over 13 epochs.