Greetings!
This was a relatively quiet week. A series of attacks on smaller projects on BSC use variants of the price oracle manipulation exploit. P719 was hacked twice for the total loss of $412K, AIZPT lost $20K, HYDT $58K. Those are not massive hacks, but they do add up. The Morpho team really dropped the ball when configuring the PAXG/USDC market by forgetting to account for USDC’s “non-standard” decimal count. A simple misconfiguration cost them $230K.
Something is happening at the SEC. It started with a wave of high ranking officers leaving including SEC’s enforcement director. The number of counter-suits launched by crypto companies (3 just this week) is also on the increase. Insiders like SEC commissioners Mark Uyeda and Hester Peirce are publicly speaking out against agency’s crypto policies. Rumors suggest a pro-crypto replacement for Gensler at the SEC. With just a few weeks left before US presidential election, there is a lot at stake for the agency and the crypto industry.
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Let’s dive into the news!