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Huma co-founder responds to HUMA abnormal fluctuations: Early LP wallet stolen and sold 12 million tokens, foundation denies selling off
Richard Liu, co-founder of Huma Finance, posted a response to the recent sharp price fluctuations of HUMA, stating that the team was surprised by the decline before the token unlock on November 26. Investigations found that a wallet of an early liquidity provider (LP) was hacked on October 22, resulting in the sale of about 12 million airdropped HUMA tokens. Additionally, from November 2 to 7, the open interest of HUMA market contracts increased from about 620 million to 1.1 billion tokens, with
"Binance $6.3 Billion Theft Incident: He Yi, Richard Teng, and Security Head Comprehensive Review" Binance Co-CEOs He Yi, Richard Teng, and Chief Security Officer Jimmy Su conducted the first systematic review of the major security incident on October 30. Binance stated that hackers used fake recruitment and technical interviews to trick engineers into running malicious code, infiltrating the internal wallet signing service, and exploited the on-chain authorization mechanism to continue transferring assets after withdrawal suspensions, ultimately causing a loss of approximately $6.34 billion. As of the time of sharing, about $2.85 billion in assets have been frozen or intercepted, 98% of the affected token assets have been replenished, and Binance has committed to bearing all losses itself. This incident exposed systemic risks in social engineering attacks, employee endpoint security, MPC wallet permissions, and on-chain authorization revocation mechanisms. He Yi emphasized increasing transparency; Binance plans to rebuild related wallet infrastructure, strengthen internal isolation, and introduce independent security audits. The above loss and recovery data are based on Binance's statements. Read the full article: https://t.co/QvSocRZlW9
According to Onchain Lens monitoring, the total holdings value of approximately 81,000 addresses tracked on Arkham for India's long-established crypto exchange Unocoin shows zero, and the platform's website is simultaneously experiencing a 504 error. Unocoin previously announced on November 9 that its servers had been accessed without authorization and temporarily disabled user login functionality, which will be restored after security investigation and repairs are completed. Unocoin emphasized that this incident did not result in any loss of crypto assets and promised to release the results after the investigation concludes. Currently, there is no evidence confirming that the balance changes of the aforementioned addresses are related to hacker asset transfers. https://t.co/oxcZZr4P5a
India's veteran exchange Unocoin confirms illegal server access, assets of 81,000 addresses tracked by Arkham show zero
According to monitoring by Onchain Lens, approximately 81,000 addresses tracked on Arkham belonging to the long-established Indian crypto exchange Unocoin show a total holding value of zero, and the platform's website is simultaneously experiencing a 504 error. Unocoin previously announced on November 9 that its servers had been accessed without authorization and temporarily disabled user login functionality, which will be restored after security investigations and repairs are completed. Unocoin
Wu reported that on November 12, the South Korean Financial Services Commission (FSC) announced plans to allow crypto exchanges to proactively suspend deposits and withdrawals when suspected of being hacked, under certain conditions, without waiting for the attack to be officially confirmed. The FSC also requires exchanges to establish 24-hour security monitoring and emergency response mechanisms; exchanges unable to provide round-the-clock monitoring can only process deposits and withdrawals during periods when monitoring is available. Additionally, the FSC demands an increased proportion of assets held in cold wallets, expanded insurance coverage and reserves, and plans to impose IT security and damage compensation responsibilities on crypto companies comparable to those of traditional financial institutions through the Digital Asset Act. https://t.co/hgJcEsnoOh
South Korea plans to allow crypto exchanges to suspend deposits and withdrawals when suspected of being hacked, without waiting for attack confirmation
Wu reported that on November 12, the South Korean Financial Services Commission (FSC) announced plans to allow crypto exchanges to proactively suspend deposits and withdrawals under certain conditions when suspected of being hacked, without waiting for the attack to be officially confirmed. The FSC also requires exchanges to establish 24-hour security monitoring and emergency response mechanisms; exchanges unable to provide round-the-clock monitoring can only process deposits and withdrawals dur
According to CoinDesk, Zcash holders will vote from November 16 to 30 on a funding reform proposal to move 50,000 ZEC (worth about $50 million) held by the community grant organization Zcash Community Grants (ZCG) out of circulation, accounting for 55% of its approximately 91,453 ZEC reserve. These tokens will be included in the Network Sustainable Mechanism (NSM) and gradually re-enter circulation through block rewards in the future. At the same time, the proposal plans to terminate the current 8% new block reward allocation to ZCG and transfer it to a newly established development and legal defense fund. ZCG will retain the remaining reserves and continue to provide project funding. The proposal was put forward by Zcash co-founders Sean Bowe, Zooko Wilcox, and others, and still requires community support and subsequent network upgrades to be implemented. https://t.co/4LzBi0uDQe
The Zcash community will vote to move $50 million worth of ZEC, involving more than half of the community grant reserves
According to CoinDesk, Zcash holders will vote from November 16 to 30 on a funding reform proposal to move 50,000 ZEC (worth about $50 million) held by the community grant organization Zcash Community Grants (ZCG) out of circulation, accounting for 55% of its approximately 91,453 ZEC reserve. These tokens will be included in the Network Sustainable Mechanism (NSM) and gradually re-enter circulation through block rewards in the future. Meanwhile, the proposal plans to terminate the current 8% all
Aave founder Stani Kulechov stated at the DAS London Summit on November 11 that DeFi should not regard the immutability of smart contracts as the highest principle, and lending protocols need to introduce circuit breaker mechanisms similar to those in traditional financial markets. He warned that if an oracle fails, lending pools lacking emergency intervention mechanisms may take years to complete risk resolution. In April this year, KelpDAO suffered an attack of about $292 million, causing approximately $8.45 billion to flow out of Aave within 48 hours. Kulechov advocates avoiding further loss amplification from a single failure through risk isolation and emergency freeze mechanisms. https://t.co/5787mBsUNA
Aave founder warns of DeFi 'immutable code' risk: oracle failure could cause lending pools to be unrecoverable for years
Aave founder Stani Kulechov stated at the DAS London Summit on November 11 that DeFi should not regard the immutability of smart contracts as the highest principle; lending protocols need to introduce circuit breaker mechanisms similar to those in traditional financial markets. He warned that if an oracle fails, lending pools lacking emergency intervention mechanisms may take years to complete risk resolution. In April this year, KelpDAO suffered an attack of approximately $292 million, causing
