1. Bitfinex and Tether's Transparency Stand:
- Bitfinex and Tether decide against opposing a Freedom of Information Law (FOIL) request initiated by news publications, affirming a commitment to transparent information sharing.
- The FOIL request stems from a 2021 agreement in New York, addressing allegations of $850 million fund commingling. Both companies paid fines and agreed to quarterly attestation reports.
2. Do Kwon's Legal Journey:
- Montenegro court approves the extradition of Terraform Labs co-founder Do Kwon to either South Korea or the United States.
- Kwon, previously sentenced to four months in Montenegro for using a forged passport, awaits the final extradition decision from Montenegro's minister of justice.
3. Unconventional Trading in Prison: SBF's Mackerel Dealings:
- Former FTX CEO Sam Bankman-Fried, currently incarcerated, reportedly trades mackerel (a prison commodity) for services.
- Mackerel, a popular prison currency, is sold for $1.30 per packet at the Metropolitan Detention Center.
4. KyberSwap's Sophisticated Attack:
- Decentralized finance expert analyzes the $46 million KyberSwap attack, revealing a complex smart contract exploit.
- The attacker exploited an "infinite money glitch" specific to KyberSwap's concentrated liquidity implementation.
- Steps involved borrowing 10,000 Wrapped Ether (wETH) from Aave, tricking the contract into believing it had more liquidity than actual.
5. KyberSwap's Fallout:
- KyberSwap's total value locked (TVL) plunges by 68% after the attack, reaching a low of around $27 million.
- Previous TVL highs of $134 million in 2023 highlight the significant impact of the exploit on the platform.
In a day marked by legal decisions, transparency pledges, unconventional prison trades, and sophisticated crypto attacks, the intricate steps of each event contribute to the ever-evolving narrative in the crypto space.
