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1. Media Reveals Another Kidnapping Case in the Philippines, Demanding 1.5 Million USDT link Caixin has disclosed another kidnapping case in the Philippines, involving Li Jia, a German executive of a Chinese-owned company, and his Austrian-Chinese friend. They traveled to the Philippines in January this year for a business inspection and were subsequently kidnapped. The kidnappers demanded 1.5 million USDT, of which the family paid 190,000 USDT. However, both kidnapped individuals remain missing to this day. Multiple international law enforcement agencies have intervened, but there has been no progress so far. 2. Malaysia’s Deputy Minister of Energy Transition: Illegal Cryptocurrency Miners Stole $722 Million Worth of Electricity link Malaysia’s Deputy Minister of Energy Transition, Akmal Nasrullah Mohd Nasir, revealed at an event that illegal crypto currency miners stole $722 million worth of electricity from 2018 to 2023. Authorities seized and disposed of 2,022 items, including Bitc...

1. Polkadot Treasury Reports Modest Half-Year Network Income of Only $250,000, Yet Expenditures Exceed $80 Million link Polkadot Forum has released its financial report for the first half of 2024. The treasury spent $87 million (11 million DOT), with 13% allocated through executive entities (bounties and collectives). The treasury’s total assets amount to $245 million (38 million DOT), of which $188 million (29 million DOT) are liquid assets. The treasury holds $8 million in USDT and USDC stablecoins, with an additional 2.5 million DOT ($16 million) earmarked for ongoing stablecoin purchases. Strategic initiatives such as marketing, DeFi tools, gaming, and business development received $24.5 million (3.8 million DOT), while $6.4 million (1 million DOT) was used for airdrops in the gaming sector. Polkadot also injected 1.6 million DOT ($10 million) into the DeFi market for liquidity. With the current burn rate of $87 million every six months, Polkadot’s funds are projected to last about...

1. LayerZero: Phase One Network Snapshot Completed, Sybil Hunt Operation Initiate link On May 2nd, LayerZero Labs announced via Twitter that they had completed the Phase One snapshot at UTC time 11:59:59 PM on May 1st, 2024. LayerZero indicated that more details would be forthcoming soon, suggesting another large-scale project involving airdrops and token issuance. LayerZero Labs secured funding in 2023 with an estimated valuation of $3 billion, with investors including Multicoin, Binance Labs, a16z, and Sequoia Capital. On May 4th, LayerZero tweeted that token distribution would prioritize loyal users (rather than witch users) in alignment with protocol best interests. For sybil users, two options were presented: voluntarily report witch addresses before May 17th to receive an expected 15% allocation, or risk being flagged by LayerZero’s internal witch-hunting efforts or bounty hunters, after which reporting would be invalid and no tokens would be received. Activities considered witch...

This is the content summary of WuBlockchain Podcast. Please listen to the full version: Can you give us a quick background of the story of API3 and how the OEV network came to launch ? API3 is an Oracle project established from the founders’ prior experience chainlink nodes and their pursuit to devise a system that is more efficient, direct, and verifiable, which led to the inception of API3. Oracles have a wide range of applications, yet the most recognized use case is price feeds, a critical requirement for the decentralized finance (DeFi) sector. Currently, no substantial revenue is generated from providing price feeds, as the operation is largely subsidized either by Oracle projects through the sale of their own tokens to support the feeds or by networks investing millions into these services. This is why API3 places significant emphasis on identifying self-sustaining niches, allowing an Oracle project to be financially viable. This approach paved the way for the launch of the OEV ...

This article is sponsored by Bitget. This article reflects the personal views of Gracy Chen and does not represent the opinions and positions of WuBlockchain. Please introduce yourself Gracy: I graduated from Singapore, majoring in Applied Mathematics. After graduation, I began my career as an anchor and producer for Phoenix Finance and Phoenix Satellite TV’s finance and technology channel. This experience started between 2014 and 2015, which was also my first encounter with the field of cryptocurrency. At that time, I met some industry insiders, including He Yi , who transitioned from a journalist to the CMO of OKCoin (now OKX). It was these friends who recommended that I study the Bitcoin white paper in 2015, and I purchased my first batch of BTC and XRP, marking my initial bond with blockchain technology. Since 2015, I have been involved in the internet, technology, and VR industries, serving as a co-founder and chief marketing officer, focusing on marketing and innovation. Until ea...

Author: WuBlockchain According to RootData statistics, there were a total of 92 publicly disclosed investment projects in the crypto VC space in November, a 21% increase compared to October 2023 (76 projects). However, it represents a 17% decrease compared to November 2022 (111 projects). Note: Not all financing deals are disclosed in the same month, so the above figures may increase in the future. The industry-level classification is as follows. In November, among various tracks in the crypto market, infrastructure projects accounted for approximately 30% of the financing amount, DeFi about 13%, CeFi about 8%, and NFT/GameFi about 7%. The total financing amount in November surged to $1.2 billion, a 179% increase compared to October 2023 ($430 million) and a 90% increase compared to November 2022 ($630 million). November’s financing amount exceeded the monthly average by 76% for the year (average financing amount for the first 10 months was $680 million), marking the first year-on-year...