August 2022 Crypto Industry Updates

The content will be sorted chronologically, last at the bottom.

• Warren Buffett's Nubank Gets 1 Million Crypto Users In Less Than A Month
  • A crypto service called Nucripto was launched in May this year for 46.5 million Nubank users.
  • Through the platform, customers can buy and sell Bitcoin (BTC) and Ethereum (ETH) through a crypto trading and custody service powered by Paxos' infrastructure.
• Indirect bridge protocol Nomad was exploited and drained about 200 million dollars
  • the bridge's smart contract was updated to allow incorrect transactions to be accepted as valid and funds to be withdrawn improperly.
  • the first exploit took place on August 1, 2022, and drained 400 Bitcoin (BTC) in four separate transactions.
  • hundreds of exploiters had to find a working transaction, find/replace the other person's address with their own, and then rebroadcast it.
  • ordinary members of the community participated
  • whitehat hackers return $11.2 million
• Solana portfolio targeted at the last million dollars
  • More than 8,000 “hot” wallets connected to the Internet, including Phantom, Slope and TrustWallet, have been compromised so far, but the origin of the attack is unknown.
• Revolut launched its new cryptocurrency service in Singapore (August 5, 2022)
  • customers can securely buy, hold and sell cryptocurrencies.
  • More than 80 tokens available through its app.
  • Different ways to buy and sell crypto:
    • stop or restrain order
    • repeat purchase feature
    • round up any spare change in your chosen cryptocurrency
  • 2.5% transaction fee for standard customers and 1.5% transaction fee for Premium and Metal customers.
• Global financial superapp Revolut has announced the appointment of Raymond Ng as its Singapore CEO
  • The appointment follows Revolut's recent launch of its crypto products in Singapore
  • Prior to joining Revolut, Raymond was Chief Commercial Officer at payment network company Liquid Group