Welcome to Around the Blockchain, Huobi Learn’s daily rundown of the crypto markets.
To prevent illegal transactions on its platform, Uniswap has begun blocking addresses connected to “blocked activities”, and will apply a filter with data from blockchain analysis firm TRM Labs. The dex said it would “only block wallets…owned (by) or associated with clearly illegal behavior” like sanctions, terrorism financing, hacked or stolen funds, ransomware, human trafficking, and child sexual abuse material. Some users have already claimed to be affected by the new measures, which have blocked the addresses they use for trading. However, Uniswap allows them to file reports if they believe the addresses have been flagged erroneously, and to inquire if the blockages can be lifted.
The international BTC mining industry has increased its sustainable energy mix by around 59% year-on-year, according to a new report by the Bitcoin Mining Council (BMC). BMC estimates show the industry’s sustainable electricity mix for top cryptocurrencies is now 58.4%, a significant increase from 36.8% in Q1 last year. Additionally, BMC members reported that they were utilizing electricity with a 64.6% sustainable power mix. However, these figures contradict a Feb study published in scientific journal Joules, which stated that China’s crypto mining ban had led to a 17% rise in carbon emissions from BTC mining.
A hacker has stolen NFTs worth millions after compromising Bored Ape Yacht Club’s (BAYC) official Instagram account, using it to post a phishing link that drained users’ crypto wallets. The post promoted an “airdrop” for users who connected their MetaMask wallets, and a screenshot shared by a Twitter user showed an OpenSea page for the hacker’s account receiving over a dozen Bored Ape, Mutant Ape and Bored Ape Kennel Club NFTs as a result of the hack. While the wallet address is no longer visible on OpenSea, its contents can be seen elsewhere, like NFT platform Rarible; the wallet contains 134 NFTs, including 4 Bored Apes and other items from Yuga Labs’ projects. Yuga Labs has not announced whether or not it will compensate the victims of the hack for their losses.
OpenSea has acquired NFT aggregator Gem.xyz (Gem) to “better serve” its more experienced users, in a deal that will allow OpenSea to “learn from Gem’s expertise and intuition about the advanced NFT community”. This comes around 2 weeks after Gem dismissed core developer and former shareholder Josh Thompson without severance over multiple allegations of rape, sexual harassment, and grooming of minors. An OpenSea spokesperson said the deal was contingent upon his departure from Gem and his liquidation from its cap table. Gem said it would now have access to OpenSea’s infrastructure and resources to drive its growth, though the terms of the transaction were not disclosed.
Shortly after its 22 Apr launch, Aku Dreams’ Ethereum-based NFT project Akutars has locked up $34 million due to its smart contract’s faulty code, which has left the project vulnerable to exploits. A user had blocked withdrawals and refunds while trying to highlight the project’s faults, and claimed Aku Dreams developers knew about the bug before lifting the block. While the company had tweeted that it would refund 0.5 ETH to pass holders within 2 days, experts soon detected refund issues and the project faced another exploit that has permanently prevented the team from withdrawing ETH from the smart contract.
Show me the money
Following Elon Musk’s acquisition of Twitter for $44 billion, the global crypto and equities markets have rebounded significantly, the former jumping from $1.93 trillion to $1.96 trillion while BTC rose from below the $40,000 mark to above $40,000. This contrasts starkly with global stock markets, which have receded amid China’s COVID-19 lockdowns and fears of upcoming Federal Reserve rate hikes.
Over the past 24 hours, BTC saw a 5.14% rise to $40,527.56, while ETH rose 6.61% to $3,000.96. Other major altcoins also did well within the same period: ADA was up 6.92%, SOL 5.59% and LUNA 7.79%. Similarly, meme token SHIB saw a 6.91% increase in the last 24 hours, while DOGE surged in the same period by 31.34%.
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