- The SEC files a suit against Binance.
- Atomic Wallet suffers a $35 million hack.
- Uniswap introduces a new performance metric for LPs.
- Aztec integrates UltraPlonk into its Noir language.
Get the original hardware wallet (affiliate link).
SEC Sues Binance Over Securities Violations
The SEC filed a lawsuit against Binance over the alleged sale of unregistered securities and unregistered staking service, among other charges. The lawsuit identifies 12 assets, including BNB, BUSD, MATIC, ATOM, SOL, and SAND, as securities. The suit also claims Binance allowed high-value U.S. customers to trade on Binance.com.
The SEC further claims that CZ and Binance.com had the ability to commingle or divert customer assets from Binance U.S. Binance responded to the action, denying any allegations of wrongdoing with user assets on the Binance.US platform. Binance coined today’s action from the SEC as regulation by enforcement.
Atomic Wallet Loses User Funds In Hack
Atomic Wallet, a multi-chain crypto wallet provider, suffered a hack leading to the loss of over $35 million worth of user assets. The hack appears to be caused by a compromise of user private keys that were likely being logged. Assets were drained across more than 6 chains, including Bitcoin, Ethereum, and Solana.
The hack appears similar to that of Slope Wallet, which also suffered a breach on its database of user private keys. According to MyCrypto founder Taylor Vano, the attackers transferred all assets from a victim’s wallet into a new wallet where assets were swapped for native chain assets and then transferred once more.
According to a 2022 security audit disclosure, the Atomic Wallet team was made aware of several security-critical issues that could lead to the loss of user funds. The audit also recommended that Atomic Wallet disclose the vulnerabilities and pause the wallet’s deployment.
Uniswap Introduces FLAIR Metric
Uniswap introduced a new performance metric for LPs called Fee Liquidity-Adjusted Instantaneous Returns (FLAIR). FLAIR assesses the competitiveness for fees among LPs in the same pool. FLAIR expands on Loss Versus Rebalancing (LVR), a different metric that quantifies the cost of providing liquidity.
FLAIR can be used to measure the performance of LP positions across time periods, including specific points in time. Existing LPs can use the metric to assess historical performance and future LPs can use it to optimize future capital deployments by conducting backtests. FLAIR can be used to assess positions on any AMM-based DEX.
Aztec Integrates UltraPlonk On Noir
Aztec Network recently announced the full integration of the UltraPlonk proof system into Noir, a universal ZK programming language. This integration brings several advantages, including accelerated proof generation, nearly gas-free hashing, and seamless native signatures. Developers can now access the integration through Noir pre-release version 0.6.0. Aztec Network is actively working on the development of a Hybrid zkRollup, which is scheduled to be released later this year.
Builda Web3 Product Discovery Platform
Builda unveiled the launch of its discovery platform that showcases web3 products, helping new projects gain visibility. Anyone submit their project on Builda for a chance to be featured in a weekly batch. Users can then upvote projects to increase their ranking. Discolore: ETH Daily is a Builda launch partner.