Stablecoin yield platform Zunami Protocol has suffered a flash loan exploit, with over $2.1 million in funds stolen, according to blockchain security firms. Meanwhile, the United States Securities and Exchange Commission has delayed its ruling on the ARK 21Shares spot Bitcoin () exchange-traded fund (ETF) application, and Worldcoin now allows unverified users to reserve WLD tokens for 12 months.
Zunami Protocol suffers estimated $2.1 million flash loan exploit
Decentralized finance protocol Zunami Protocol has confirmed on Aug. 13 it has suffered an exploit on its “zStables” pools on Curve Finance.
Blockchain security firm PeckShield estimates over $2.1 million was stolen from Zumani’s Curve Pool via a flash loan, which has affected both its Zumani ETH (zETH) and Zumani USD (UZD).
Please do not buy zETH and UZD at the moment, their emission has been attacked.
— Zunami Protocol (@ZunamiProtocol) August 14, 2023
CertiK, another blockchain security firm, said the attacker was able to manipulate prices on the pairs that its UZD balance depends, with the profits swapped for 1178 ETH, which has already been sent to crypto mixer Tornado Cash.
Zunami is a decentralized revenue aggregator protocol that allows users to stake stablecoins for yield, with its largest stable pools on Curve.
SEC delays decision on ARK 21Shares spot Bitcoin ETF
In a move that surprised few people in the crypto industry, the U.S. Securities and Exchange Commission has delayed its ruling on a spot Bitcoin ETF application submitted by ARK Invest.
The SEC’s Aug. 11 notice opened a 21-day comment period for the ARK 21Shares Bitcoin ETF — an application initially submitted in May. The securities regulator now has until January 2024 to decide whether to approve or deny the spot Bitcoin ETF application.
The SEC gave its usual justification for pushing back the approval process, noting:
“The regulated market of significant size test does not require that the spot bitcoin market be regulated in order for the Commission to approve this proposal, and precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm.”
Today on @BloombergTV's ETF IQ @CathieDWood agreed with our assessment (below) that if spot #Bitcoin ETFs are approved by the SEC, it will be multiple at the same time and not just one. https://t.co/oNOeqs4HDL pic.twitter.com/K18qFNOtQL
— James Seyffart (@JSeyff) August 7, 2023
As Cointelegraph reported, ARK Invest founder Cathie Wood predicted earlier this week that the SEC would eventually approve multiple spot Bitcoin ETF applications at the same time.
Worldcoin opens up WLD reservations for unverified users
The iris-scanning crypto project Worldcoin has now made it possible for unverified customers to reserve Worldcoin () tokens.
The World App now offers a reservations feature to make it easier for everyone to reserve their WLD tokens before verifying their World ID, as shown in the image below.
The Worldcoin project consists of three key elements: the World ID, the World App and WLD token. Users willing to scan their iris to create a biometric data-based ID system are rewarded with WLD tokens.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
