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**[Sharwa.Finance Suffers Multiple Attacks, Total Loss Exceeds $140,000]** Sharwa.Finance has suffered multiple attacks, with total losses exceeding $140,000. According to reports, attackers exploited a vulnerability in the `swap()` function of the MarginTrading contract. This function lacks a bankruptcy check mechanism and only verifies account solvency at the start of asset exchange, creating a risk of manipulation during operations. The attackers created margin accounts, leveraged collateral for borrowing, and subsequently launched "sandwich attacks" to profit. Attacker 1 (address starting with 0xd356) carried out multiple attacks, profiting approximately $61,000; Attacker 2 (address starting with 0xaa24) executed one attack, profiting approximately $85,000. Following the incident, Sharwa.Finance suspended operations, but several suspicious transactions were still observed hours later, suspected to be exploiting variant paths of the same underlying vulnerability.
[Hong Kong Securities and Futures Commission Supports Regulatory Compliance Development of Digital Asset Funds] On October 20, the Hong Kong Securities and Futures Commission expressed its support for the regulatory compliance efforts of digital asset funds and tokenized funds during a seminar. Dr. Yeh Chi-heng, Executive Director of the Intermediaries Division of the Commission, emphasized the commitment to establishing a safe, reliable, and sustainable digital asset fund ecosystem through robust risk management and investor protection. The seminar also discussed the importance of risk management and technological innovation, calling on the fund industry to strengthen collaboration to enhance regulatory compliance capabilities.
[XRP Investor Loses $3 Million Due to Hot Wallet Breach] An XRP investor lost $3 million worth of XRP assets after entering the seed phrase of their cold wallet into another iPad, exposing the private key and turning it into a hot wallet. Experts remind that cold wallets are better suited for protecting large amounts of crypto assets. (Cointelegraph)
[New York State Proposes Electricity Consumption Tax on Proof-of-Work Mining Companies] Last Friday, New York State Democratic Assemblymember Anna Kelles introduced Bill A9138 in the State Assembly and submitted it to the Ways and Means Committee for review. The bill aims to impose a consumption tax on the electricity used by cryptocurrency mining companies employing the Proof-of-Work (PoW) mechanism, complementing Bill S8518 proposed by Senator Liz Krueger. The two bills require crypto mining companies to pay fees to New York State's Energy Affordability Program based on electricity consumption, with specific tax rates applied in tiers. Consumption up to 2.25 million kilowatt-hours will be tax-exempt, while usage exceeding this threshold will be taxed at rates ranging from 2 to 5 cents per kilowatt-hour. Bill A9138 also stipulates that mining facilities powered entirely by renewable energy and operating off-grid will be exempt from the tax to promote sustainable development. If passed, the tax will take effect on January 1, 2027. Both bills are currently under committee review.
[21Shares, Bitwise, and WisdomTree Launch Bitcoin and Ethereum ETPs in the UK, Lower Fees to Attract Retail Investors] Crypto asset management companies 21Shares, Bitwise, and WisdomTree have made their Bitcoin and Ethereum exchange-traded products (ETPs) available to UK retail investors on the London Stock Exchange. Among them, 21Shares' Ethereum ETP offers staking functionality and has reduced the management fee for certain products to 0.1%. WisdomTree's Bitcoin and Ethereum ETPs have management fees of 0.15% and 0.35%, respectively. Bitwise, on the other hand, has lowered the management fee for its core Bitcoin ETP to 0.05% for at least the next six months. This move follows the UK Financial Conduct Authority (FCA)'s relaxation of cryptocurrency-related restrictions, reflecting the market's growing interest in crypto asset investments.
[Amazon, Snapchat, and Coinbase Service Outages] Network monitoring platform DownDetector shows that users have reported service interruptions for Amazon, Snapchat, and Coinbase.