Key Highlights

  • Yearn Finance Exploit: Approximately $9 million lost, with $3 million transferred to Tornado Cash.
  • HashKey Pursues IPO: Aiming to create a compliant digital asset platform in Hong Kong.
  • Machi's Losses: Partial liquidation of highly leveraged ETH positions.
  • Bitcoin & Ethereum Volatility: Notable price drops.
  • Justin Sun's Update: Recovered his WeChat account.

Details

Yearn Finance: According to PeckShieldAlert, Yearn Finance suffered an exploit resulting in an estimated $9 million loss. Hackers drained the liquidity pool through unlimited minting of yETH, subsequently transferring approximately 1,000 ETH (worth $3 million) to Tornado Cash. The attacker's address still holds roughly $6 million in crypto assets.

HashKey: HashKey Holdings Limited has received approval for listing on the Hong Kong Stock Exchange, with JPMorgan Chase, Guotai Haitong, and Guotai Junan International acting as joint sponsors. The company aims to build a licensed digital asset platform, covering three key areas: transaction facilitation, on-chain services, and asset management. The company anticipates supporting 80 tokens by September 30, 2025, with assets exceeding HK$19.9 billion. Major shareholders include Lu Weiding, GDZ International, HashKey Fintech III, and Puxing Energy (00090), as well as institutions such as Gao Rong Capital, Fidelity, and Meitu.

Machi: Onchain Lens reported that Machi (麻吉大哥) faced partial liquidation of his 25x leveraged ETH positions due to the market downturn. Machi still holds 3,300 ETH (worth $9.5 million), with the next liquidation threshold only $20 away. Accumulated losses have exceeded $20.89 million.

Cryptocurrency Prices: Bitcoin's price dipped below $87,000, down 4.86% on the day. Ethereum's price also fell below $2,900, down 4.31% on the day.

Other News:

  • Justin Sun announced the recovery of his WeChat account after it was compromised.
  • Telegram launched Cocoon, a decentralized AI computing network.
  • Spot silver prices surged above $57 per ounce, hitting a new all-time high.

Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

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