The DeFi industry is still being haunted by hacks and vulnerabilities, as seen by the addition of a new vanity address exploit to the list of DeFi victims, who, as a group, have altogether lost more than $1.6 billion in the 2022 alone.

After Vanity address exploit, an alert was publicly released by a company that specializes in blockchain security called PeckShield. In the alert, it stated that a hacker was discovered after stealing 732 ether (ETH), which is equivalent to approximately $950,000, from an address that was generated a generator for Ethereum vanity wallet addresses called Profanity. After emptying the wallet, the hackers moved the cryptocurrency to a cryptocurrency mixer called Tornado Cash, which had only just been authorized.

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Vanity addresses are a kind of personalized cryptocurrency wallet address that is produced to contain words or certain characters specified by the holder of the wallet. Vanity addresses are also known as private keys. Recent breaches, on the other hand, have shown that the security of vanity email addresses is still in issue.

The decentralized exchange (DEX) aggregator 1inch Network issued a warning to crypto holders earlier in the month of September that their addresses were not secure if they were produced using vulgarity. The DEX made it clear to cryptocurrency holders who used vanity addresses that they needed to move their holdings as soon as possible. 1inch claims that the vanity address generator lacks safety since it uses a random 32-bit vector to seed 256-bit private keys. This indicates that the generator should not be utilized.

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ZachXBT, a blockchain investigator, has revealed that an exploitation of the vulnerability in Vulgarity has already let some hackers to get away with stealing digital assets worth $3.3 million. This announcement comes in response to the warnings issued by the DEX aggregator.

On September 20, a crypto market maker situated in the United Kingdom was the victim of an attack that resulted in losses of 160 million dollars. According to the findings of researcher Ajay Dhingra, the attack may have been carried out as a result of unauthorized access to the company’s hot wallet and subsequent manipulation of a flaw in the smart contract. The founder of the company and current Chief Executive Officer, Evgeny Gaevoy, issued a call to the attackers, stating that the company is willing to consider the vulnerability to be a “white hat hack.”

FTX Exchange, which is headquartered in Bahamas and is the biggest cryptocurrency trading platform in the world, has plans to raise one billion dollars in capital. It plans to accomplish this goal with the participation of private equity investors, in addition to hedge funds and institutional investors.

If FTX Exchange is successful in raising another billion in capital, its whole worth will rise to $32 billion. According to a number of recent news publications, Sam Bankman’s firm Fried’s is holding talks with a number of possible investors regarding the prospect of obtaining one billion dollars in a venture round.

There has not been an agreement reached about the fund just yet, and discussions over the fund are still under progress. Since the start of the crypto winter in May, FTX exchange has taken on the role of market consolidator, offering aid to a significant number of enterprises who are having trouble making ends meet.

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A deal was struck between FTX and BlockFi, a lending firm that was having financial difficulties, a few of months ago. In addition to that, they made a rescue proposal for Voyager Digital and Bithumb. In order to carry out its other business objectives, FTX plans to use the $1 billion in cash on hand, in addition to the $400 million that was raised earlier this year.

The cryptocurrency exchange was initially a clone of Coinbase; however, it subsequently found different means of compensating traders, which contributed to the development in popularity of the exchange.

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Jesse Powell, the outrageous crypto advocate, revealed that he is giving up his CEO position of Kraken.  Powell established Kraken in 2011 and was an early supporter of bitcoin (BTC). 

He has been at the heart of various disputes that are linked to the firm. Powell’s comments in June, in which he slammed a group of “woke activists” working for the firm and advised disgruntled workers to leave, sparked a social and political controversy that destabilized the cryptocurrency sector.

In the month of July, the reports revealed that the United States Treasury Department was conducting an investigation into the cryptocurrency exchange Kraken for allegedly violating international sanctions on the Iranian government by enabling Iranian users to utilize the site.

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In the month of July, the reports revealed that the United States Treasury Department was conducting an investigation into the cryptocurrency exchange Kraken for allegedly violating international sanctions on the Iranian government by enabling Iranian users to utilize the site.

Jesse Powell has disputed that these scandals were a driving force behind his move to give up as CEO of Kraken, saying Bloomberg that he told the board of Kraken’s over a year ago of his intention to leave the company.

According to what Powell said in an interview the day before, he does not believe himself “to be an exceptional manager.” His position will be taken up by COO David Ripley.

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Jesse Powell said that “I actually more so appreciate the job as an individual contributor,” which roughly translates to “getting into the weeds on the product things.”

Powell said he’s not able to monitor certain activities as CEO, including pushing Kraken toward an Initial Public Offering. He explained himself by saying, “I’m much more like a zero-to-one sort of man.”

In the beginning of this year, Powel was subjected to criticism for alleged offensive remarks; in response, he lashed out at employees by announcing in a tweet, “Back to dictatorship,” and by inviting employees who were unhappy with the culture of the company to “jet ski” into their future with a promise of four months’ pay. Powel received some negative attention for these actions. However, he said that he had no intention of “jet skiing” himself. He will continue to serve on Kraken’s board.

Powell has said that he wants to put more of his energy into advocacy efforts, noting that there are many “poor plans” coming from Government.

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“There’s some terminology and some law that’s come out that’s kind of indirect assaults against crypto,” he added. “There’s also some legislation that’s come up.” “I don’t know whether it’s done purposely, or if the architects of the law simply genuinely don’t comprehend what the consequences are of the phrasing,” said the reporter.

Powell admitted that cryptocurrencies are a problem for both the national economy and the national security, but he said that “it would be a tragedy if we implemented some rules that simply effectively pushed all the bitcoin firms to move abroad.”