Crypto Hebdo: Celsius in bankruptcy, Polygon in Disney, Tops, Flops and Perspectives…

As cryptocurrencies begin a technical rebound, the industry’s evil demons are resurfacing. A hacker has extorted nearly $8 million from Uniswap users. After the Voyager Digital exchange, lending company Celsius Network also filed for bankruptcy. But still, the very solid Celo blockchain announces that it has suffered an outage. The good news: Zidane’s partnership with Sorare and Polygon joining Disney’s accelerator, while greening the market.

Uniswap Suffers Phishing Attack

Uniswap users lost nearly $8 million in a phishing attack. Contrary to what Changpeng Zao initially claimed, it was not a platform flaw. On the contrary, the attackers played on the naivety of the users to extort funds from them.

Malicious internet hackers sent emails to users promising to give away UniswapLP tokens which they could exchange for UNI for free. Unfortunately, it was just a phishing act. Those who visited the site were trapped because the hackers were able to steal their confidential information and steal funds from their wallets.

This practice is now commonplace in the crypto sphere. Recently, OpenSea alerted its users to a possible phishing attack due to a data breach. Note that in February, users of the NFT marketplace had lost nearly $1.7 million. Recently, MetaMask had also warned its Apple users of the risks of phishing acts.

To learn more, read the following article:

👉: Uniswap loses $8 million in phishing attack

Sorare signs Zidane

French football legend Zinédine Zidane has joined the NFT sports card publishing platform: Sorare. As part of this partnership, the French unicorn wants to reinvigorate the beautiful memories of the 1998 World Cup through the image of the superstar of the France team.

Those nostalgic for this epic World Cup where France defeated the Brazilian team 3 goals to 0 in the final with two cannon shots from ZZ’s head, will be able to recall the memories through Sorare’s cards. The former French glory was expressed at the end of the partnership:

“At the start of a season or a World Cup, we all got together and said ‘I want this card, I want this sticker’. Today, Sorare’s digital maps have surpassed the physical maps of our time”.

We recall that before Zidane, Sorare had already signed the current glory of French football, the Parisian Kyllian Mbappé.

To learn more, read the following article:

👉: Sorare launches his partnership with Zinedine Zidane

Celo blockchain goes down

During this week, specifically on the night of Wednesday July 13, Celo officials reported via Twitter that the network had stopped at block 14035.19. At that time, the team members announced that:

“The validators are working to identify and fix the problem. All funds are safe. News will be provided as soon as possible.”

A few hours later, the blockchain recovered but crashed again and stopped at block 14,035,044. The reasons for this disconnection were not made public but according to a team member of crypto, this outage is a sign of blockchain growth.

It will be recalled that Celo is a cryptocurrency allowing any user to transfer tokens or make payments using their telephone number which serves as their public address key.

To learn more, read the following article:

👉: Celo suffers a critical network outage, production of new blocks halts

Celsius filed for bankruptcy

That was to be expected. Lending company Celsius Network has filed for Chapter 11 bankruptcy. Despite a lot of news suggesting that it had recovered from its big cash crisis, Celsius, like Voyager or Three Arrows Capital ended up collapsing. Ultimately, officials believe this remains the best decision to make given the current situation. They said the following about it:

“We made this decision with the objective of stabilizing the business, completing a comprehensive restructuring operation that maximizes value for all stakeholders, and preparing for success in the crypto industry after the Chapter 11 proceeding”

To learn more, read the following article:

👉: Celsius declares bankruptcy and begins safeguard proceedings

Polygon will be on the Disney Accelerator program

The entertainment company earlier this week announced the winners of its accelerator program. Among those selected are the publisher of scaling technology Polygon, as well as two other web 3 initiatives. This year, the program will focus on building immersive experiences through virtual reality, artificial intelligence , NFTs and the metaverse. After the news, Ethereum’s layer 2 protocol took nearly 20% in the stock market.

To learn more, read the following article:

👉: Polygon (MATIC) joins the Disney accelerator and its price soars on the stock market

Tops and Flops: special mention for Ethereum

On the price side of the crypto market, we have seen a very nice movement dictated by Ethereum. Indeed, traders are anticipating the famous migration of Ethereum to the proof-of-stake consensus mechanism. Speaking of the merge, another crypto involved in this event saw its price rise in anticipation of arbitrage opportunities. Since the re-peg of stEther after the Celsius episode, the Lido DAO protocol token namely the LDO has seen a nice growth on the exchange. For this week, his course took 150%. The last top of the week is the Ethereum Classic which saw its price explode by almost 35% on a weekly basis.

Here are our tops and flops of the week:

Tops:

Cryptos Current course Gain in 7 days
Lido DAO (LDO) $1.62 152.46%
Ethereum Classic (ETC) $19.87 31.53%
Quant (QNT) $100.47 25.48%
Source: CoinMarketCap

Flops:

Cryptos Current course Loss in 7 days
Iota (MIOTA) $0.27 -7.01%
Helium (HNT) $8.96 -4.11%
Unus Sed Leo (LEO) $5.29 -6.13%
Source: CoinMarketCap

Prospects…

Cryptocurrencies were able to hold up despite news of inflation in the United States and a DXY index reaching record highs. Some are beginning to wonder if the famous “bottom” has not already been achieved. We see that Bitcoin manages to hold the $20,000 mark. The first crypto on the market even went above $22,000. Ethereum has allowed itself a very good performance and is now above $1,400. Anticipation of the merge played an important role in this week’s technical rebound, notably with the more precise announcement of a date and the success of certain recent tests. While the arrival of this event could push prices higher in the market, it could also contribute to the fall of digital assets if it does not prove to be a success.

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