Hiya, Brady here.
One of the fundamentally innovative things about decentralized finance is that there are intelligent people trying to figure out how to build financial systems from scratch, so that those with less means and influence have a seat at the table. The consequence is that some of those things break in the process, or people lose their investments when i’s aren’t dotted and t’s aren’t crossed.
Consider BXH, or Boy X Highspeed, a cross-chain trading platform. It lost USD 139 million on October 30. Or, more accurately, a hacker or hackers stole digital assets that are worth that much.
Those behind the exploit seem to have gotten a hold of an administrator’s private key to break into the exchange’s Binance Smart Chain address. BXH’s CEO thinks it might have been an inside job.
The bounty for hunting down the hacker(s) is now USD 10 million. Stephanie wrote about it. You can read the article here.
Beijing residents are barred from entering the capital due to “data error” in COVID-19 health app.
The next tech hubs of China aren’t where you expect.
D2C beauty brands sprout in India as consumers look online for affordability and personalization.
Singapore’s high tide of tech startups surf digitalization boom.