DeFi
TON and Polygon Launch New Layer-2 | Squarespace Exploit Exposes DeFi Projects | Key Takeaways | July 12, 2024
DG. Welcome back to BitPinas Key Points: easily digestible information in concise formats for easy reading. In today’s recap: Will we see Ethereum dapps in Telegram soon?
Here’s the latest crypto news from the last 24 hours.
Market Analysis and Updates 📈
Cryptocurrency Price Update
Here are the highlights of the day in cryptocurrencies:
- Bitcoin (BTC):$57,537.34, up 0.1% over the past 24 hours.
- Ethereum (ETH): $3,115.15 up 0.7% over the past 24 hours.
- Solana (SOL):$136.77, down 2.9% from the previous day.
Trending Coins Update
- Moca coin: $0.1177, up 85.069.7% from the previous day.
- Mother Iggy: $0.0402, up 33.0% in the last 24 hours.
- Water feature: $0.0008, down 7.7% from the previous day.
For daily price updates, check out our article on Facebook.
Featured News: TON Blockchain and Polygon Labs to Launch Layer 2 Scaling Network
The Open Network (TON) and Polygon Labs launch the TON Applications Chain (TAC), a new Layer 2 scaling network for the TON blockchain.
What is the signification ? This will make it easier for applications built on Ethereum to work with TON, helping Telegram users access more decentralized applications (dApps).
The details:TAC will use Polygon’s Blockchain Development Kit (CDK) and AggLayer interoperability protocol to enable Ethereum Virtual Machine (EVM) applications within the TON ecosystem.
And after:According to DecryptThere is no launch date for TAC yet, but it is expected to boost DeFi (decentralized finance) activity on Telegram.
Featured News: Websites of DeFi platforms Celer and Compound hacked; other platforms at risk
The websites of DeFi platforms Celer and Compound Finance have been hacked, raising concerns about the security of other major DeFi platforms.
What is really happening?: Blockchain security experts including 0xngmi of DefiLlama and Samczsun of Paradigm suggest that vulnerabilities in Squarespace’s registrar services could be the cause. They recommend transferring domains to more secure registrars like Cloudflare or AWS Cloud.
- The list of potentially affected domains can be found here.
Celer and Compound are investigating the violations and have advised users to avoid their websites until further notice.
Pendle was also hit, although he declared that they have already secured the website.
Additional details: Bobby Ong, Founder of Coingecko assigned the incident with Google moving its domain registrar to Squarespace:
There is a DNS attack going on right now, affecting the Squarespace domain registrar. The best thing to do is not interact with crypto and rest for the next few days until everything is resolved. Google sold their domain business to Squarespace a few months ago and the forced migration of domains to Squarespace removed 2FA, which left all of these domains vulnerable and several were hacked.
Bobby Ong
Cryptocurrency News in the Philippines 🇵🇭
- New iThink Hackathon offers ₱$255,000 prize pool for web3 with social impact.
- YGG Philippines at conclude national road trip to Manila.
Educational corner 🎓
If you’ve been reading BitPinas, you know that many Web3 games are moving to Sky Mavis’ Ronin blockchain. Here are some of the latest developments:
- MMORPG Runiverse forgotten Moves to the Ronin blockchain
- Sky Mavis, developer of Axie Infinity Bring Lumiterra MMORPG in Ronin
Regulatory monitoring 📜
Stay informed about the latest regulatory updates and what they mean for you:
- The US SEC said so will not continue anymore enforcement action against PAXOS, the creators of Binance USD.
- The SEC has previously alleged that the BUSD created by Paxos is a security. It appears that the SEC is now removing this position.
- OKX choice Malta as a European hub. They previously preferred France but had to change their preference after the MiCA (Markets in Crypto assets) rules in Europe.
Community Spotlight 🔦
Meeting with Joseph Lejardealso known as Whizkid Trader.
- Lejarde is a Certified Technical Analyst (CTA), a Certified Securities Specialist (CSS) and a Certified Treasury Professional (CTP).
- He is a frequent guest on the BitPinas webcast, especially during the last week of the month, where we typically discuss cryptocurrency market recaps and future price analysis.
Discover Joseph Lejarde here.
More news on Web3 and AI 💡
Discover the latest innovations in web3 and AI.
- Former OpenAI to leave to avoid “working for the AI Titanic.”
- Compound and Celer websites compromise with DeFi wallet drainers.
- Ethereum staked approaching record highs ahead of ETF.
Web3 Games Section 🎮
The future of web3 is gaming, and here’s the latest news.
- Catizen wanna build a business ecosystem.
- The Founders of Hamster Kombat reveal origins of the game.
- Animoca Brands’ turnover was $280 million in 2023.
Event Announcements 📅
Do not miss:Upcoming events, webinars and meetups in the crypto space!
Outstanding 🌟
Major updates and announcements from the crypto and blockchain world:
- Bahamas would not CBDC.
- CryptoQuant Says Short-Term Trading Is Driving the surge Bitcoin reserves in exchanges.
- Check daily number active addresses on TON.
Stay connected:
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This article is published on BitPinas: TON and Polygon launch new Layer 2 network for Telegram | Key Points | July 12, 2024