PA Daily | Hackers have begun returning funds to the US government; Tether is suspected of being investigated by US prosecutors and sanctioned by the Treasury Department, and its CEO denies this

Today's news tips:

1. The hacker has begun to return funds to the US government, and has returned 13.19 million aUSDC and 2,408 ETH

2. Tether is suspected of being investigated by US prosecutors and sanctioned by the Treasury Department, but Tether CEO denies it

3. Binance restarts Binance Connect to provide fiat and cryptocurrency integration for Web3

4. Scroll Ecosystem Stablecoin Project Essence Finance Suspected of Rug Pull

5.Lido: Community Staking Module (CSM) is now live on the mainnet

6. Coinbase will remove Decentralized Social (DESO)

7.Coinbase Exchange will be temporarily offline for 2 hours due to technical system upgrades

Regulatory News

The hacker is suspected to have begun returning funds to the US government, and has returned 13.19 million aUSDC and 2,408 ETH

According to Onchain Lens monitoring, the hacker has allegedly begun returning funds to the US government, and the US government's wallet has received 13.19 million aUSDC and 2,408 ETH (worth $6.1 million) from the hacker's address.

Earlier today, it was reported that the US government wallet address was suspected to have been attacked, and about 20 million US dollars was transferred to the attacker's address.

After receiving the funds returned by the hackers, the US government has transferred the assets to a new wallet

According to Onchain Lens, after the hackers returned the funds, the US government has now transferred the assets to a new wallet. Address: 0x0CaB63E3e978D1f66c19C480c206b01fB62F1243.

Tether is suspected of being investigated by US prosecutors and sanctioned by the Treasury Department. Tether CEO denies this

The U.S. federal government is investigating cryptocurrency company Tether for possible violations of sanctions and anti-money laundering rules, The Wall Street Journal reported, citing people familiar with the matter. The criminal investigation, led by prosecutors from the U.S. Attorney's Office in Manhattan, aims to find out whether cryptocurrencies are used by third parties to finance illegal activities such as drug trafficking, terrorism and hacking, or to launder proceeds from these activities. At the same time, the U.S. Treasury Department has been considering sanctions against Tether because individuals and groups subject to U.S. sanctions use this stablecoin.

In response, Tether CEO Paolo Ardoino refuted on the X platform: There is no indication that Tether is under investigation, and the content of the report is old news.

Pump.fun "attacker" requests to withdraw guilty plea, lawyer drops lawsuit

Two months after admitting to the “attack” on Pump.fun, Jarett Dunn, aka Stacc, has requested to withdraw his guilty plea to abuse of power and transfer of criminal property, Decrypt reports. In doing so, his legal team has withdrawn from the case.

Jarett Dunn, who was an employee of Pump.fun at the time of the “attack,” said he wanted to “terminate” the protocol because it had “inadvertently hurt people for a long time.” When Jarett Dunn stole about $2 million from the protocol, he sent the tokens to a number of random, unsolicited addresses. Although the “attack” still hurt some everyday traders, a group of onlookers hailed Dunn as the Robin Hood of cryptocurrency. Jarett Dunn attended a hearing at Wood Green Crown Court in London, where he was scheduled to be sentenced. If all had gone according to plan, he could have faced more than seven years in prison. But at the last minute, Jarett Dunn changed his mind and asked to withdraw his guilty plea. The move could result in Dunn facing longer prison time.

Jarett Dunn now has two weeks to find representation for a hearing where he will seek to change his plea. If the plea is accepted, the case will move to trial, where a number of witnesses (possibly including the Pump.fun founder) will be called to testify. Still, there is a chance the court could deny Jarett Dunn's plea.

Project News

Binance relaunches Binance Connect to provide fiat and crypto integration for Web3

According to the official blog, Binance announced the launch of the revamped Binance Connect, a fiat-to-cryptocurrency channel service designed to support Web3 projects. It enables users to trade cryptocurrencies directly from their existing Binance accounts through DeFi wallets such as Trust Wallet. Binance Connect supports more than 100 fiat currencies, 300 cryptocurrencies, and 300 payment methods, providing flexible trading options and competitive pricing. Binance Connect simplifies the integration process for cryptocurrency companies, requiring minimal technical resources while complying with regulatory requirements.

Earlier in August last year, Binance announced the closure of its cryptocurrency payment platform Binance Connect .

Tether CEO: There are currently no plans to list Tether

According to Fox Business reporter Eleanor Terrett, Tether CEO Paolo Ardoino said that he currently has no plans to take Tether public because he believes it would undermine the company's ability to move quickly and "break the status quo." He said that he believes a company should go public when it needs access to capital and liquidity, and Tether, which has made $12 billion in profits in the past two years, does not face this problem.

Lido: Community Staking Module (CSM) is now live on the mainnet

According to The block, the community staking module (CSM) launched by liquidity staking provider Lido Finance has been launched on the mainnet. The plan, approved by Lido DAO community members, aims to make Ethereum staking more inclusive and break the high technical and financial barriers of traditional individual staking.

Dmitriy Gusakov, technical lead and community member at LidoDAO, said CMS will eventually become Lido’s first permissionless staking module. At launch, the protocol will be limited to participants in Lido’s “early adoption” period, which kicks off in early October, including Ethereum and Gnosis independent stakers, Obol Techne certificate holders, and others.

Once the mainnet launches, anyone with 1.5 ETH can become a node operator by bonding tokens to receive validator rewards. At current prices, this is about $3,800, although the bonding requirement for subsequent validators will be reduced to 1.3 ETH. In any case, this is much lower than the 32 ETH (about $81,000) typically required to start an Ethereum node.

TON launches Ton Talent, a development collaboration platform

TON announced the launch of TON Talent, a collaborative platform dedicated to connecting builders within the TON ecosystem, including developers and founders. The program aims to accelerate project development and promote the growth of the TON ecosystem.

Scroll Ecosystem Stablecoin Project Essence Finance Suspected of Rug Pull

Scroll Ecosystem stablecoin project Essence Finance is suspected to have been rigged and pulled. Stablecoin CHI has fallen 93.94% to $0.06 in the past 6 hours. It is suspected that more than $20 million of collateral has been removed. The last official tweet was on September 11.

Coinbase to Delist Decentralized Social (DESO)

Coinbase Assets said on the X platform that Coinbase will suspend trading of Decentralized Social (DESO) at around 2 pm EST on November 8. The team has switched the DESO order book to limit price mode. Perhaps affected by this news, Decentralized Social (DESO) fell 17.3% in 24 hours and is now trading at $4.93.

Coinbase Exchange will be temporarily offline for 2 hours due to technical system upgrades

Coinbase Assets said on the X platform that Coinbase Exchange will be temporarily offline for 2 hours starting at 9 am Pacific Time on October 26 due to a planned technical system upgrade.

Vitalik proposes key goals for Ethereum's future development in the Purge phase

Ethereum co-founder Vitalik Buterin published his latest article, "The Future of Ethereum Protocol (Part 5): The Purge", which states that one of the challenges facing Ethereum is that, by default, the expansion and complexity of any blockchain protocol will grow over time. This happens in two places: historical data and protocol features.

In order for Ethereum to be sustainable in the long term, there needs to be a strong counter-pressure to both of these trends, reducing complexity and bloat over time. But at the same time, one of the great properties of blockchain needs to be preserved: permanence. The key goals of The Purge are to reduce client storage requirements by reducing or eliminating the need for each node to store all history permanently, and perhaps even eventually declare; and to reduce protocol complexity by eliminating unneeded features.

Important data

James Fickel lost about 22,500 ETH due to long ETH/BTC

According to Lookonchain monitoring, James Fickel lost about 22,500 ETH ($55 million) due to long ETH/BTC trading pairs. From January 10 to July 1, he borrowed 3,061 WBTC ($172 million) from Aave and exchanged it for 56,445 ETH at an exchange rate of 0.05424. Since August 7, he has spent 12 million USDC to buy 211 WBTC and exchanged 47,476 ETH for 1,888 WBTC ($113.5 million) at a price of $0.04 to repay Aave debt. He currently has 980 WBTC ($132 million) in debt on Aave, with a total loss of about 22,500 ETH ($55 million).

ETH/BTC exchange rate bull James Fickel transferred 20,000 ETH to Coinbase Prime 7 hours ago

According to on-chain analyst Ember’s monitoring, James Fickel, the ETH/BTC exchange rate bull with the largest on-chain position, transferred 20,000 ETH ($50.63M) to Coinbase Prime 7 hours ago.

In addition to selling 2,000 ETH for WBTC to reduce his position as he did in the previous two days, he also redeemed 26,624 ETH ($67.35M) from Lido and transferred 20,000 ETH ($50.63M) of it to Coinbase Prime.

In the past 24 hours, the total network contract liquidation was 407 million US dollars, mainly long orders

According to Coinglass data, the cryptocurrency market had a total liquidation of $407 million in contracts over the past 24 hours, of which $344 million was liquidated for long orders and $62.9773 million was liquidated for short orders. The total liquidation amount of BTC was $66.7785 million, and the total liquidation amount of ETH was $66.4081 million.

Bitcoin spot ETF had a net inflow of US$402 million yesterday, and the ETF net asset ratio reached 4.93%

Ethereum spot ETF had a net outflow of $19.1562 million yesterday, and the ETF net asset ratio reached 2.28%

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