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Opinion: The attacker address 1.2 billion aUSD has not been transferred, Acala may roll back through a referendum



Time:8/14/2022 12:24:28 PM

[Opinion: The attacker’s address of 1.2 billion aUSD has not been transferred, Acala may roll back through a referendum] On August 14th, Cryptolingo DAO founder and Twitter user @IamJulianaC posted on social media that Acala uses the Honzon Fungibility Pallet to use aUSD is circulated between Acala and Karura. The Honzon protocol was created to allow aUSD to act as a native stablecoin and source of liquidity across the Polkadot and Kusama multi-chain ecosystems.

Due to a vulnerability in the protocol, the attacker address (26JmEcghNmggvT46sojckg34Py9zFRKkCcFy3gr49hrFgT2k) was able to transfer over 1 billion aUSD.

Presumably, Acala has blocked the wallet from transferring assets. The 1.2 billion aUSD in the attacker’s address has not yet left the Acala chain, and Acala is likely to roll back through a referendum. The Acala team has yet to confirm the relationship between the iBTC/aUSD pool and the Honzon protocol vulnerability.

Other news:

Opinion: In China’s legal environment, digital collections based on public chains have four potential risks: On March 26th, in the live broadcast of the global trend of digital collections and China’s innovation, Zhang Jiong, the founder of Xingtu Bit, made a speech in “Domestic Public Chain Digital According to the theme sharing of the Compliant Development of Collections, digital collections based on the public chain have three advantages, users' real right to dispose of digital collections, real deliverability, and a sense of transparency and authenticity. The digital collection based on the alliance chain has two major advantages, including easy access to the understanding of government regulatory agencies, and easier formation of trust in cooperation between enterprises. At present, public chain digital collections have some potential risks in China's legal compliance environment. First, how to allow domestic users to purchase digital collection NFT through RMB without digital currency. Second, after users purchase digital collections in RMB, they may be sold into digital currency. Therefore, digital collections need to be separated from digital currency, otherwise they may become OTC channels. Third, human manipulation will cause economic risks to ordinary users brought by fluctuations in the digital collection market. Fourth, the custody of digital assets. In addition, Zhang Jiong believes that the digital collection based on the alliance chain has the risk of stopping operations. (8btc) [2022/3/26 14:19:31]

Opinion: SEC Institutional Qualified Custodian Rules Will Bring Regulatory Clarity to the Crypto Space: On Nov. 10, the U.S. Securities and Exchange Commission (SEC) issued a statement saying it is investigating which institutions qualify as “qualified custodians” to manage client funds . The SEC is asking for public comment on the matter. For example, whether Two Ocean Trust, which has previously been licensed to provide digital asset custody services, is qualified as a qualified custodian, etc. In response, Caitlin Long, founder of the Wyoming Blockchain Council, said on Twitter that while the move may pose a risk to state-owned trust companies, making it impossible for some registered investment advisors and investment managers to use cryptocurrencies, pensions, endowments, and foundations It will not be able to bear the corresponding custody risk, but the field needs regulatory clarity, and now the SEC has brought it. [2020/11/10 12:11:29]

Voice | Opinion: The decentralized, transparent and traceable features of blockchain technology are suitable for the field of public welfare and charity: the current blockchain technology is widely used in all walks of life, and its traceable, non-tamperable, and decentralized features seem to be beneficial to public welfare. Transparency in the philanthropy field offers a possibility. Zheng Dingxiang, president of the Shenzhen Information Service Blockchain Association, said that from a purely technical point of view, the decentralized, transparent and traceable features of the blockchain are particularly suitable for the field of public welfare and charity. Some outstanding problems currently exist in the field of public welfare and charity It can be better solved by applying blockchain technology. In the eyes of industry insiders, the donor and the recipient cannot effectively reach a consensus, and the donated items cannot be delivered to the recipient in a timely manner. These problems can be solved through blockchain technology. Not only that, because each donor on the chain is a node, once the data is changed, more than half of the nodes must agree, which can effectively prevent malicious people from tampering with information. (China Times) [2020/2/12]

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