Last week in review: The biggest hits from the crypto industry

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All the news, comments and other happenings from last week in crypto.

Biggest news from the block
The NFT front has been relatively quiet but tech firms continue to build, the latest being Telegram’s announcement of a possible NFT platform. Australia has revealed that its ground-breaking crypto regulation is in the works. And, inflation keeps on being a thorn in the side for central banks.

Too long, did read
What exactly happened in the Slope finance hack? The attackers may have had easy access to the keys that unlocked Slope’s servers.

Crunching the numbers
The Mt. Gox millions, Ethereum’s huge bug bounty, and more.

The crypto time capsule
Seven years ago, the Bitcoin network split for the first time.

Crypto trivia
What led to the creation of Ethereum Classic?

Worth a listen
Crypto journalist Laura Shin discusses with Travis Kling how Ethereum will change after the Merge.

News from the block

Telegram mulling to launch marketplace for NFTsBlockchainNews
Telegram has hinted at plans to create a platform where its users can buy and sell non-fungible tokens (NFTs).

Australia unveils plans for crypto regulations unlike ‘Anywhere else in the world’Decrypt
Countries around the world continue to make progress in drafting regulation that will further legitimise and fuel adoption in crypto.

Brazilians will soon have access to a Prepaid card that pays 5% Bitcoin cashback Bitcoin Magazine
Brazilians consumers can now qualify for a Bitcoin cashback of up to 5% as part of a new partnership between a crypto services provider and Visa.

Pain of breaking inflation will reverberate around the globeReuters
Heads of finance have warned that the fight against inflation may be a long one, but that the fallout from the tough measures put in place to tame it will pay off over time.

TL;Did read

We get that news goes down easier when consumed in bite-sized chunks but some topics just need a little added sauce. Below are the TL;Did reads from last week, for those who prefer their news with context.

What exactly happened in the Slope finance hack?

Hackers stole crypto worth $4.1 million from Solana wallets in early August. The exploit was quickly traced to Slope finance.

Crunching the numbers

$250,000 – The amount Ethereum is offering developers as a bug bounty, where computer programmers get rewarded for identifying bugs in the code before the Merge.

140,000 – The amount of Bitcoins that Mt. Gox was rumoured to soon pay out to clients who had their funds stolen almost a decade ago in one of the biggest crypto hacks in history. The failed company has denied the rumours, which has led to concern about the impact the release could have on the price of Bitcoin.

$2.8 billion – The value of 140,000 Bitcoins at the time of writing.

$13.56 – The price of a single Apple stock during the bottom of the market in 2002. It’s currently trading for more than ten times this amount.

The crypto time capsule

Seven years ago in August, the Bitcoin network split for the first time, leading to the creation of the Bitcoin Cash blockchain. 

Crypto trivia

What were the DAO Wars? The Decentralised Autonomous Organisation created by Slock, the first DAO of its kind, was launched in 2016 and raised $150 million worth of Ethereum from everyday investors and whales alike. The DAO was soon hacked, and to rescue investor funds Ethereum developers decided to hard fork the Ethereum blockchain, which cut hackers off from the network and led to the creation of Ethereum Classic.

Worth a listen

What will Ethereum look like after the Merge? Pop on your headphones and listen as crypto journalist Laura Shin digs up the details.

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