🌪️ TORN hacker offers to undo attack

Markets

Tornado Cash’s TORN Token Up 10% as Attacker Submits Proposal to Undo Attack (2 minute read)
The Tornado Cash token (TORN) has experienced a 10% surge following a proposal made by a wallet address associated with a recent attack on the DAO’s governance system. This proposal aims to undo the harmful modifications made by the attacker. The attacker has submitted a proposal to restore the governance state, effectively voluntarily resetting the TORN tokens they had acquired, which granted them significant control over governance votes, effectively reducing their influence to zero.

Ripple vs. SEC: Could newly released documents tip the balance? (4 minute read) 
The SEC v Ripple Labs case has significant implications for cryptocurrency regulations. Ripple is fighting the SEC's allegations of selling unregistered securities, instead of settling like most entities. A Twitter thread by lawyer Fred Rispoli suggests that a summary judgment ruling could be issued soon, possibly resulting in a split decision. Speculation surrounds the extent of the ruling's final form, as Judge Torres is believed to have made up her mind. The outcome of this high-profile case will impact cryptocurrency regulations, making it a topic of great anticipation.

Tech

No, MetaMask Will Not Withhold Your Crypto for Taxes (3 minute read)
ConsenSys, the creators of the widely-used MetaMask browser-based crypto wallet, recently addressed misinformation circulating about their terms of service. They clarified that MetaMask does not collect taxes on crypto transactions and emphasized that no changes have been made to their terms in that regard. ConsenSys explained that the tax section in their terms of service specifically relates to products and paid plans offered by ConsenSys, and it does not apply to MetaMask or any other products that don't involve sales tax. They acknowledged that legal terminology can be complex but wanted to set the record straight, ensuring users that their crypto transactions on MetaMask remain unaffected by any taxation requirements.

Apple’s crypto policy softens as Stepn offers in-app digital asset trading (1 minute read)
Last week, Axie Infinity, a once wildly popular web3 game, announced its availability for download on Apple's App Store. This move suggests that Apple may be warming up to the idea of allowing blockchain-based mobile games on its iPhone platform. Likewise, Stepn, a blockchain-powered fitness app that incentivizes users with crypto rewards, has made an announcement. Users of this Australia-based app can now conveniently buy and sell Stepn's digital assets within the app itself, eliminating the need to navigate external marketplaces.

Misc

Malaysia Says Crypto Exchange Huobi Global Isn't Registered, Must Cease Operations (2 minute read)
Huobi Global has been directed by the Securities Commission Malaysia to halt its operations in the country due to operating without proper registration. The SC's order includes disabling the Huobi Global website and mobile applications. In an announcement on Monday, the regulator instructed the company to cease advertising and communicating with Malaysian investors. CEO Leon Li was tasked with ensuring compliance with the directives. Malaysian investors who are currently using Huobi Global were advised to discontinue trading on the platform, withdraw their funds, and close their accounts.

Crypto Exchange Hotbit Shuts Down 9 Months After Criminal Probe (3 minute read)
Hotbit is winding down its primary platform. This decision comes in response to a series of crises that have affected the exchange. One of the major factors leading to this outcome was a criminal investigation that began in August last year. Following the authorities freezing Hotbit's operational funds, the exchange had already suspended deposits, withdrawals, and live trading for several weeks. In a notice posted on its website, Hotbit expressed regret in announcing the cessation of all CEX operations starting from May 22, 2023. Prior to this, the exchange had faced allegations of misconduct by a former manager, although the specific violations were not disclosed. The implicated staff members had already departed the company months earlier.

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