Weekly Report (Sep-18)


  • Over $63.6 million was lost in multiple DeFi hacks.
  • La Liga is set to introduce NFT-powered fantasy football.
  • Diesel dropped an NFT access pass on Polkadot and Polygon for Milan Fashion Week.
  • Panerai is set to include a digital NFT passport with all luxury watches.

Blockchain Hacks

Charlotte Fang, the founder of Milady, has reported a major security breach involving the misappropriation of approximately $1 million in Remilia’s generated fees by a developer working on the Bonkler Treasury project. Fortunately, the Bonkler reserves, main contract, and NFTs remain unharmed and secure. In an audacious move, the developer also attempted to seize control of social media accounts and demanded a significant portion of the treasury, including NFT reserves, in coordination with two other team members. The team has identified those involved and vows to pursue legal action to the fullest extent.

CoinEx, the global cryptocurrency exchange, was exploited across nineteen different chains due to the compromise of the private keys, which resulted in a loss of funds worth over $59 million. We have shared a detailed analysis of the exploit in this blog.

The hot wallet of the Remitano exchange was exploited across multiple transactions, resulting in a loss of assets worth approximately $2.7 million. An initial unauthorized transfer moved 1,359,253 USDT from the address labeled “Remitano 2” to the attacker’s address, followed by transfers of 208,188 USDC and 104,360 Ankr tokens valued at about $2000. Tether promptly froze the address of the exploiter, securing $1.4 million in assets. Additionally, $537,000 worth of USDT on the Tron network was frozen, preventing further illicit movement.

The team behind Friend Chips performed an exit scam. The team claimed in a tweet that an anonymous developer had used the bonding function to create 100 million tokens, then dumped them, draining the liquidity pool of all 47 ETH, worth approximately $78,000. They further stated that the team will be funding a relaunch with developers they know personally. The stolen funds have already been laundered to Tornado Cash.

Entrepreneur and Dallas Mavericks owner Mark Cuban has reportedly lost approximately $870,000 in a cryptocurrency scam. The incident involved the theft of various cryptocurrencies, including stable coins, Lido-staked Ether, ENS, and SuperRare tokens. Cuban’s misfortune stemmed from downloading a fraudulent version of Metamask via a Google search, allowing scammers to compromise his private keys and seed phrases.

Metaverse, and NFTs

La Liga partnered with GameOn to create NFT-driven fantasy games designed specifically for football enthusiasts in the US and Canada. Supporters can acquire LaLiga player packs as NFTs and form fantasy teams that accumulate points from the actual on-field actions of the players. Additionally, fans can buy digital items like shoes, shirts, or caps to give their virtual player characters enhancements that lead to increased points. The GameOn LaLiga-themed web application is set to launch in early 2024, featuring interactive chat options and opportunities for fans to secure rewards such as money, exclusive game tickets, autographed goods, and chances to meet players in person.

Diesel collaborated with the NFT music marketplace, Public Pressure, to introduce 300 exclusive digital tokens. These NFTs are stored on both the Polkadot and Polygon chains, giving users the flexibility to select their favored blockchain networks. A standout benefit of possessing one of these Metamorph NFTs is the privileged entry to Diesel’s forthcoming Spring 2024 line at Milan Fashion Week, along with the chance for owners to mingle with buyers, journalists, and prominent influencers present. These Metamorph tokens have a distinctive soundtrack that Senjan Jansen, the sound designer for the brand’s fashion shows, created to add to their allure. From November 2, owners can also access musical events hosted by Public Pressure and engage in a virtual reality experience designed by media-tech artists, Artificial Rome.

Panerai joined forces with Arianee to equip every upcoming timepiece with a digital NFT passport. This esteemed Italian watch brand will document the intricate specifics of each premium watch, uphold its digital persona, and offer evidence of ownership. From October 3, this renowned chronograph expert will start providing NFTs with every sale. This move essentially leverages technology to enhance the security and verification of its items. Upon release, customers can either claim the NFT at the time of their purchase or by scanning a QR code found on the warranty card of the product. Beyond the obvious perks, the Panerai digital NFT certificate will bestow extra advantages on its holders. For instance, securing the token will instantly prolong the global warranty of the item, and the firm has also teased more perks for token owners in the future.

OnChain Insurance Industry News

Neptune Mutual announced that they airdropped tradeable and soulbound NFTs plus additional token rewards to the gamified testnet winners on September 14, 2023. They also listed the Neptune Legends collection on popular NFT portal, Element on the BNB Chain.

InsurAce Protocol announced that the V2 version of their protocol will be coming soon, which could include the veINSUR model where commitment gets more rewards.

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