$2.1M Crypto Exploit, SEC Delays ARK 21Shares Bitcoin ETF Decision
• Zunami Protocol has suffered a flashloan exploit, with over $2.1 million in funds stolen.
• The US SEC has delayed its ruling on the ARK 21Shares spot Bitcoin ETF application.
• Worldcoin now allows unverified users to reserve WLD tokens for 12 months.
Zunami Protocol Flashloan Exploit
Decentralized finance protocol Zunami Protocol has confirmed on Aug. 13 it has suffered an exploit on its “zStables” pools on Curve Finance. Blockchain security firm PeckShield estimates over $2.1 million was stolen from Zumani’s Curve Pool via a flash loan, which has affected both its Zumani ETH (zETH) and Zumani USD (UZD). CertiK, another blockchain security firm said the attacker was able to manipulate prices on the pairs in which its UZD balance depends, with the profits swapped for 1178 ETH, which has already been sent to crypto mixer Tornado Cash.
SEC Delays Ruling On ARK 21Shares Spot Bitcoin ETF
In a move that surprised few people in the crypto industry, the United States Securities and Exchange Commission has delayed its ruling on a spot Bitcoin ETF application submitted by ARK Investment Management. The SEC’s Aug. 11 notice opened a 21-day comment period for the ARK 21Shares Bitcoin ETF — an application that was initially submitted in May. The securities regulator now has until January 2024 to reach a final decision on whether to approve or deny the spot Bitcoin ETF application.
Worldcoin Allows Unverified Users To Reserve WLD Tokens
Worldcoin now allows unverified users to reserve WLD tokens for 12 months using their wallet address as verification without having to submit any personal information such as name and country of residence or KYC documents as required by many other exchanges and services. This is intended to provide more options for those who want access to cryptocurrencies but cannot pass traditional KYC procedures due to various reasons such as living in countries with strict regulatory regimes or simply not wanting their identity exposed online when making transactions or holding digital assets for long periods of time.
Impact Of Exploit And Delay On Crypto Markets
The exploit at Zunami Protocol could have far reaching implications if users lose confidence in decentralized financial protocols while waiting for new regulations governing them could slow down market growth should they be implemented before existing ones are updated accordingly and accepted by all stakeholders involved in these protocols before investors feel safe enough to commit capital into them again . As for the delay of the ARK 21Shares spot bitcoin ETF approval process this may mean more uncertainty ahead going into next year as investors will have wait longer than expected before taking positions either way once there is clarity from regulators regarding their stance towards digital currencies and asset class overall .
Conclusion
Crypto markets continue evolving rapidly with new developments happening almost daily . From flashloan exploits such as that seen at Zunami affecting user balances ,to delays decisions from regulators like SEC’s decision regarding Ark’s BTC ETF ,it is evident there still remains much work needed until these markets become regulated enough so network operators can ensure maximum security is met while also protecting user privacy where needed .
