Daily Market Wrap
Crypto market cap: 1.27 trillion, up 3.47%
BTC price stands at USD 30,979, up 3.90%
ETH price stands at USD 1,861, down 5.50%
Top gainer: Theta Network (THETA), up 12.52%
Top loser: Elrond (EGLD), down 5.30%
News of the Day
Screenshot: Phishing post on BAYC Discord Server
Why it matters:
The blue-chip NFT project, Bored Ape Yacht Club (BAYC), had its Discord server hacked on Saturday, resulting in 200 ETH (approx. $360,000) worth of NFTs in theft, Yuga Labs later confirmed
Screenshots posted by a Twitter user, OKHotshot, showed that the project’s community manager, Boris Vagner, had his Discord account compromised, allowing scammers to carry out a phishing attack while impersonating him
This is the third time that hackers have impersonated a Yuga Labs-run account to steal users’ funds. The first instance was on April 1, when Mutant Ape Yacht Club #8662 was stolen by a phishing link. The second incident occurred via a fake Otherside virtual land minting link; this was done through Bored Ape Yacht Club’s Instagram and Discord
Crypto daily spotlight
SOL Fell Over 12% Thanks To The Outage
Brief introduction: Solana is a decentralized blockchain built to enable scalable, user-friendly apps in DeFi, NFT, and Web 3.0. Solana was officially launched in March 2020 by the Solana Foundation, with headquarters in Geneva, Switzerland.
Why it matters:
The Solana blockchain suffered an outage for 4.5 hours on June 1; the team attributed the issue to a bug in the blockchain’s durable nonce transactions feature
Validators were later able to restart the network only after disabling these “durable nonce transactions”
It is not the first time that the Solana blockchain has suddenly halted — On May 1st the Layer 1 blockchain went offline as well, leading many supporters questioning Solana’s competence
Daily sector tracker
Daily News Roundup
Three Hong Kong Firms Raise Funds for NGOs Through NFTs https://bit.ly/3NkaRBbV
Abu Dhabi Women Receive Free Unstoppable Crypto Domains to Expand Their Web3 Knowledge https://bit.ly/3GOUiv3
Japan Passes Legal Framework for Stablecoins Characterized as Digital Currencies https://bit.ly/3tfaKPm
Play-to-Earn Hybrid Expo Asia Kicks Off in Bangkok https://bit.ly/3aH4FoF
Middle East Oil Producers Explore Bitcoin Mining With Crusoe Energy Stakes https://bit.ly/3xaHGtK
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