Global Hive Buzz

Ledger Resolves Security Vulnerability Affecting dApps, Resulting in $500k in User Losses

Yesterday, Ledger successfully addressed a security flaw in its Connect Kit library, impacting the front end of several decentralized applications (dApps) such as SushiSwap, Kyber, Revoke.cash, Phantom, and Zapper. Notably, the affected wallets are all built on the Ethereum Virtual Machine (EVM).

The exploit involved a front-end attack that urged users to connect their wallets through a pop-up, creating a risk of token drainage. The compromised library had malicious code injected into it, allowing hackers to redirect funds.

Ledger traced the origin of the exploit to a phishing attack targeting a former employee, granting the malicious actor access to internal information.

As of now, Ledger has not officially disclosed the extent of the exploit's impact, pending the completion of their internal investigation and ongoing communication with affected users.

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Crypto Company SafeMoon Declares Chapter 7 Bankruptcy, SFM Plunges 42%

SafeMoon, a cryptocurrency firm, filed for Chapter 7 bankruptcy on Thursday, coinciding with criminal charges against its executives in the U.S.

In its filing with the Utah Bankruptcy Court, SafeMoon disclosed having between 50 and 99 creditors, assets ranging from $10 million to $50 million, and debts between $100,000 and $500,000.

Last month, the company's executives were arrested on multiple charges.

SafeMoon's SFM token experienced a 42% decline in the past 24 hours, although it lacks significant liquidity and has a relatively modest market capitalization.

Web3 Gaming: An Overview of the Industry in 2023

A recent report from the Blockchain Gaming Alliance sheds light on the promising future of the web3 gaming industry, while also highlighting a notable gender imbalance among players.

According to the BGA report, over 76% of blockchain gamers consider asset ownership a significant advantage of web3 games. In contrast, nearly 38% believe that traditional web2 game studios will be instrumental in driving the industry forward. Additionally, 52.1% anticipate that at least 20% of the gaming industry will embrace blockchain in some capacity.

Addressing challenges, more than half of the respondents in the BGA survey identified onboarding as the primary issue affecting the industry. Meanwhile, 70% highlighted the prevalent misconception of blockchain gaming as a scam, and approximately 35% pointed to user acquisition as a significant challenge.

Despite these challenges, web3 games are gradually making inroads into the mainstream market, with companies like Square Enix and Ubisoft actively developing new blockchain games.

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