Liquid Data Leak, Zcash Halving, Ethereum Classic Enters DeFi + More News

Adoption Blockchain DeFi Ethereum Classic Exchange Hack

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Linas Kmieliauskas

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Linas Kmieliauskas

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June 25, 2023

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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Exchanges news

• Hackers appear to have pulled off a major raid in an attack on the Liquid crypto exchange. In a notice on the Liquid blog, the firm wrote that attackers were “able to obtain personal information” from its user database on November 13. Liquid’s CEO, Mike Kayamori wrote, “This may include data such as your email, name, address and encrypted password.” The CEO added that his company was “continuing to investigate” whether the hackers had “also obtained access to personal documents” provided for know-your-customer (KYC) protocols, including “ID, selfies and proof of addresses,” adding that Liquid would “provide an update once the investigation has concluded.” (Learn more: Personal Data Leaks In Crypto Are Inevitable, Here’s What Can Be Done)

Altcoins news

• Today, privacy-focused cryptocurrency Zcash (ZEC) underwent its first halving of its block subsidy reward – it decreased from ZEC 6.25 to ZEC 3.125 (USD 196) per block. Also, Canopy, or the fifth major network upgrade for Zcash, was activated today. Is establishes a new development fund while the Founders Reward has come to an end.
• Ethereum Classic Labs (ETC Labs), the major supporter of the Ethereum Classic (ETC) blockchain, said it released Wrapped ETC (WETC) to include the participation of ETC users in the growing DeFi ecosystem. ETC Labs added that it is working to list WETC on exchanges and develop DeFi governance applications.

Adoption news

• South Korea’s Kookmin Bank (KB) appears to have has ramped up its crypto plans – and stated that it now wants to launch its forthcoming crypto custody offering, which will be available only for institutional investors, before the end of 2020. According to Paxnet, Cho Jin-seok, the head of the bank’s IT unit, stated that while exchange-related services appeared to be out of reach for banks under existing regulations, he envisaged a situation whereby banks could “offer a service that allows [customers] to borrow cryptoassets in Korean won.”
• Lukka, a crypto asset software and data provider, said it has partnered with global business information provider IHS Markit to redistribute Lukka’s blockchain and digital asset data products as part of the comprehensive IHS Markit Pricing, Valuations and Reference Data offerings. This will enable funds to add cryptocurrencies and other digital assets to their portfolios in compliance with regulatory guidance, they added.

Blockchain news

• The government of Kazakhstan is planning to unveil blockchain-powered mortgage offerings. In a Facebook post from Bagdat Mussin, the newly appointed Minister of Digital Development, Innovation and Aerospace Industry, wrote that his department had developed a means to use the innovation to “replace the complex process of mortgage procedure with blockchain technology.” He claimed that the new system would reduce waiting times and would be launched in conjunction with major banks in the country.
• Smart contract platform TomoChain (TOMO) said will provide blockchain services for Vietnam’s Ministry of Education and Training. The National Qualifications Archive program aims to ensure that all certifications achieved by the country’s students in High School and Higher Education are uploaded to the TomoChain blockchain.

Investments news

• Digital asset storage, transfer, and issuing platform Fireblocks said it has raised USD 30m in Series B funding, bringing its cumulative fundraising to USD 46m. This round was led by Paradigm with participation from existing investors, such as Galaxy Digital and Digital Currency Group, among others.
• Cypherium, the enterprise-focused blockchain platform facilitating interoperability between blockchains and central bank digital currencies, said it has concluded its public sale round and has now raised USD 28m through the sale of its native token, CPH.

Regulation news

• US President Donald Trump nominated crypto advocate Brian Brooks, Acting Comptroller of the Currency, to lead this national bank regulator for five years.