TL;DR
- Over $9.3 million was lost in multiple DeFi hacks.
- Animoca Brands is set to launch the first blockchain game licensed by the FIA Formula E World Championship.
- The U.S. Marine Corps taps into the Metaverse for advanced logistics training.
- Bybit and MIBR celebrate the esports legacy with an exclusive NFT series.
Blockchain Hacks
The project IVY on the BNB chain was identified as a rug-pull in which funds worth approximately $1.5 million were misappropriated. Over 5,200 victims were affected due to the exploit, with a single user suffering a loss of $46,000. Users were tricked into singing a fradulent transcation or interacting with an unverified contract that transferred LP tokens to the scammer.
The hot wallet assets of the Fantom Foundation were drained due to reportedly a zero-day vulnerability on Google Chrome, which resulted in an overall loss of 4,501.48 ETH across multiple wallets, worth approximately $7 million. The primary cause of the vulnerability appears to stem from a compromise of private keys. This breach is thought to have started with a sophisticated plan that may have included coordinated phishing attacks, social engineering techniques, or the distribution of malicious Trojan software. The team reassured that the wallets in reference to the Fantom Foundation only lost approximately $550,000, and a significant majority of the Fantom Foundation funds were unaffected and remained secure. Apparently, a team member from the foundation lost nearly $3.4 million worth of his assets.
The Honest Venture was identified as an investment scam project with losses of approximately $58,000. The team has already deleted their social media accounts across Twitter (X), Telegram, and Instagram.
The HopeLend protocol was exploited on the Ethereum Mainnet, resulting in a loss of 528 ETH, worth approximately $835,000. The root cause of the exploit is the loss of precision during smart contract operations. The original attacker was front-run by a MEV bot, and they split the proceeds equally, paying a bribe of 263 ETH. We have shared a detailed analysis of the exploit in this blog.
Metaverse, and NFTs
Animoca Brands is joining forces with Ember to launch their latest Web3 sensation, Formula E: High Voltage, on October 19. This innovative electric vehicle racing game is infused with elements from the ABB FIA Formula E World Championship, featuring intricate urban circuits that promise a deeply engaging racing journey. It elevates the excitement of digital possession through unique NFTs for each in-game item, establishing a vibrant nexus between the sustainable digital motorsport realm and its thrill-chasing enthusiasts. Formula E: High Voltage ushers in an electrifying dimension where every driver and vehicle is vividly represented as an NFT. These digital assets vary in scarcity, encompassing Common, Rare, Epic, and Legendary tiers, and unlock a repertoire of 100 distinctive skills to amplify the gaming encounter. Players are propelled on an epic odyssey of training, collecting, and upgrading to adeptly orchestrate their drivers and vehicles towards triumph. Racing aficionados keen to hit the track with Formula E: High Voltage will be greeted with four exclusive NFTs at no cost, comprising a pair of drivers and vehicles.
The U.S. Marine Corps is pioneering an exploratory project to leverage the power of the metaverse to enhance its logistics divisions. This ambitious project involves crafting a virtual mirror of our planet. This sophisticated digital counterpart integrates vast arrays of data, encompassing assets, sensor outputs, telemetry, and beyond, to present a holistic perspective of logistical maneuvers. While the general perception of the metaverse is often tied to virtual or augmented realities, this endeavor underscores authenticity. Constructed within the confines of tangible physics and enriched with abundant metadata, the digital twin facilitates a metaverse interaction that’s both dynamic and true-to-life. This groundbreaking venture within the metaverse concentrates on three pivotal applications: strategizing operations, immersive training and assessment, and live operational monitoring. The fusion of comprehensive modeling, simulation prowess, and real-time data in a unified environment is set to drive unprecedented advancements.
Bybit is joining forces with Made in Brazil (MIBR) to celebrate the esports juggernaut’s impressive 20-year legacy with an exclusive NFT series. Slated for release on October 24, this cutting-edge venture melds the physical and digital realms. The MIBR NFTs are tied to an elite array of 12 jerseys, each commemorating MIBR’s storied, longstanding history. These collectible MIBR jerseys are distinguished by their scarcity, in which the Standard Editions are confined to 250 issues each, while the Ultra-Rare iterations are even more exclusive, with only 5 units each. In a generous move, six of these digital treasures will be available at no cost. Collectors who acquire the full array of Bybit MIBR NFTs will receive a special, custom-signed MIBR jersey. Those gathering 11 NFTs will earn a unique tribute—a personalized shoutout from a beloved MIBR player. Moreover, those in possession of 7 to 10 jerseys will be eligible for discounts at the MIBR store and a BRZ bonus on Bybit.
OnChain Insurance Industry News
The total liquidity of NPM tokens across all networks is now ~$1 million. The TVL of the NPM/USDC trading pair on Sushiswap BSC has grown over $400,000 and became the largest pool in the “Farms Only” category for Sushiwap on the BSC network. The TVL of the NPM Sushiswap v2 pool on Arbitrum is now in excess of $440,000.