The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Square Crypto’s 20^th grant supporting the development of Bitcoin has been awarded to its 8^th designer, Portuguese software engineer Patricia Estevão, who works on BTC’s user experience. The designer is set to use the funding to research how people use Bitcoin and what hurdles may obstruct their use.

Hugh Karp, the founder and CEO of decentralized finance (DeFi) insurer Nexus Mutual, has lost about $8 million worth of the project’s native NXM tokens in a targeted attack.

Over 163,000 ether has been staked by users of cryptocurrency exchange Kraken via its staking service for Ethereum 2.0, Eth2. The figure is up from 100,000 the firm’s users had staked on December 8, and is now worth about $95 million.

Sponsored: Crypto.com Exchange is listing ZIL on The Syndicate, where all Crypto.com Coin (CRO) stakers are able to participate in a discounted sale event for 250,000 USD worth of ZIL at 50% off.

Top stories in the Crypto Roundup today:

Square Crypto Supports Bitcoin Design and User Experience with 20^th Grant
Founder of DeFi Insurer Nexus Mutual Hacked for $8 Million in NXM
Kraken Users Already Staked Over 160,000 ETH into its Eth2 Service
BNT, CHZ, EGLD Are Moving in the Crypto Market
Sponsored: Crypto.com Exchange is listing ZIL at 50% OFF

Square Crypto Supports Bitcoin Design and User Experience with 20th Grant

Estevão told CoinDesk she is “thrilled” to be “able to work on in-depth Bitcoin user research” and to be able to shape future design decisions within the Bitcoin ecosystem. Estevão also thanked Square Crypto and its team for the opportunity.

The user experience designer has been working on Bitcoin-related design since 2016. Once concluded, her work will be moved to the Bitcoin Design Guide, an open-source community project that includes user experience and user interface design notes for developers, businesses, and anyone building on Bitcoin.

Founder of DeFi Insurer Nexus Mutual Hacked for $8 Million in NXM

Hugh Karp, the founder and CEO of decentralized finance (DeFi) insurer Nexus Mutual, has lost about $8 million worth of the project’s native NXM tokens in a targeted attack.

A total of 370,000 NXM tokens were stolen from Karp’s address to one controlled by the attacker, another member of Nexus Mutual. The attacker reportedly completed know-your-customer verifications 11 days ago and switched to a new address on Dec. 3, before gaining remote access to Karp’s computer.

Using that access, the attacker modified the MetaMask wallet extension, tricking Karp into signing a different transaction that sent the funds from his hardware wallet to the attacker’s wallet. The company has since clarified only Karp’s address was compromised and that the “mutual is not impacted; the pool of funds and all systems are safe.”

Part of the stolen funds have been transferred via decentralized exchange aggregator 1inch.exchange.

Kraken Users Already Staked Over 160,000 ETH into its Eth2 Service

In a press release Kraken’s VP of Product, Jeremy Welch, wrote that Kraken has “long been a supporter of Ethereum,” and added:

“In fact, we were one of the first exchanges to list Ether in August 2015. We have watched as Ethereum has continued to grow in significance. As of December 1, ETH trading volumes typically make up between 15-40% of our Bitcoin daily volumes.”

The ETH2 deposit contract launched in early November and earlier this month surpassed the 1 million ETH mark. It marked the rollout of the first phase of the ETH 2.0 upgrade, the so-called beacon chain.

BNT, CHZ, EGLD Are Moving in the Crypto Market

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Bancor Network Token (BNT) - The Bancor Protocol is a blockchain-based system for discovery and a liquidity mechanism supporting multiple smart contract platforms. The flexibility of these blockchains allows tokens to be locked in reserve and to issue smart tokens on the Bancor system. BNT is up 29.3% in the last 24 hours.

Chiliz (CHZ) – Chiliz, a fintech platform for tokenizing sports team, has seen the price of its CHZ token go up 17.13& in the last 24 hours after it was announced Binance is introducing farming for the tokens of Paris Saint Germain (PSG) and Juventus (JUV) on its Launchpool.

Elrond (EGLD) – Elrond is a Secure Proof of Stake (SPoS) blockchain that strives for interconnectivity and security. Its solution for smart contracts is an EVM compliant engine to ensure interoperability by design. EGLD is up 13.29% in the last 24 hours.

Crypto.com Exchange is listing ZIL at 50% OFF

Crypto.com Exchange is listing ZIL on The Syndicate, where all Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for 250,000 USD worth of ZIL at 50% off. The event commenced on Tuesday, 15 December 6:00am UTC on the Crypto.com Exchange.

Allocation:

Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked on the Crypto.com Exchange.

Subscription:

Participants will be able to subscribe for ZIL by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for ZIL in this event.
Participants will need to trade the minimum volume required at their CRO staked level in the past 30 days in order to be eligible to subscribe.
The past 30-day trading volume is calculated daily at 00:50:00 UTC. For more information regarding exact cutoff times, refer to our FAQ here.

NOTE: The trading volume can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.

Event Timeline:

15 Dec 6:00am UTC: Sales Begins (ZIL/CRO subscription price fixed)
16 Dec 6:00am UTC: Sales Ends
23 Dec 6:00am UTC: Acceptance Period Begins (unused CRO will be refunded immediately if you reject the allocation)
24 Dec 6:00am UTC: Acceptance Period Ends (CRO refunds will be distributed for forfeited participants)