#justin sun
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Hacker Injects Fun into Algorand CEO's X Account
After breaching the X-account of Algorand's CEO, the hacker began a spree of satirical posts, sharing a variety of music, and amusingly altering the account's bio. One notable post included a fictional tale about Justin Sun, ambitiously seeking to promote Algorand for unrestricted access to the token minting to back TUSD. Justin Sun Puts Up $10 Million Reward for Poloniex Hacker
Offering a deal of $10 million, Justin Sun has reached out to the hacker behind the Poloniex cryptocurrency exchange breach to recover the stolen funds. Sun asserts that the hacker's identity is no secret, with international law enforcement ready to intervene following a formal complaint from the exchange. 
Justin Sun Receives Extended Time for Defense
The court has granted Justin Sun additional time to respond to the SEC allegations, pushing the deadline to December 8. The SEC accuses Sun, along with Tron Foundation, Bittorrent Foundation, and Rainberry, of offering TRX and BTT tokens as unregistered securities, infringing upon U.S. legislation. Additionally, the SEC is leveling charges against Sun for manipulating the market value of TRX. What's up with Huobi?
Renowned business analyst Adam Cochran recently shared insights concerning Huobi's financial state and its potential insolvency.
Key takeaways from Adam's analysis:
Investigation Underway: Both Huobi and Tron are facing scrutiny, with their staff being questioned by the police.
Unusual Asset Distribution: After Justin Sun's introduction of wrapped USDT (stUSDT), a whopping 98% of user assets intended for Tether bond redemptions ended up in the wallets of Huobi and Justin Sun.
Discrepancy with USDT Balance: Huobi's reported USDT balance is just $63 million, but their users hold a staggering $631 million worth of USDT. Something doesn't add up here.
ETH Holdings in Question: It appears that Huobi is holding all of its users' ETH as stETH, raising eyebrows about their handling of customer assets.
Binance Making Moves: Meanwhile, Binance is actively selling USDT and purchasing DAI, possibly indicating a shift in market dynamics.
Outdated Reserves Page: It's been a whole month since Huobi last updated its reserve page, and discrepancies between the reported figures and wallet balances need clarification. 
Huobi Token's Value Drop Linked to 'Free' Acquisitions
Justin Sun, CEO of Tron (TRX) and stakeholder in Huobi, has made serious allegations against Li Wei, the brother of Huobi's founder Li Lin. Sun accuses Wei of acquiring Huobi's native token (HT) at no cost and later selling it for significant profit. 
Hot Wallet Breach at HTX (Huobi): $7.9 Million Gone
Yesterday, the Cyvers team raised alarms over a questionable HTX transaction. Their concerns grew when there was no communication in return.
Fast forward to today, the damage is clear: 5,000 ETH, or $7.9 million, is gone, snatched by a hacker.
The HTX team has proposed a 5% reward for the return of the funds. Should the hacker decline, they plan to engage law enforcement.
"Compared to the $3 billion in assets held by Huobi HTX users, $8 million is a small number. This is only equivalent to two weeks of revenue from the HTX platform," Justin Sun stated in X.
The underlying issue behind the breach has been eliminated, he adds, and the exchange will reimburse the lost amount. "What's Up with USDT?" v2.0
Brian Armstrong has expressed his belief that Binance has transferred some of their USDC assets to a different stablecoin, according to anonymous sources in Cointelegraph.
NotChaseColeman, an analyst, highlights that Binance and Justin Sun are strategically moving from USDT to USDC to secure USD, which will then be invested in FDUSD and TUSD (assets controlled by the company).
Adam Cochran, a name we're familiar with, weighed in, drawing attention to the activities associated with Binance addresses. He observed:
“Even with banks open in Asia and Europe and US coming online, USDT peg is off by the deepest sustained amount since the FTX fall out. Selling pressure once again coming in from the Binance.”
Adam thinks the uncertainty surrounding USDT is at an all-time high, and the Curve Finance and Uniswap platforms are overrun with USDT.
He was optimistic about a more promising USDT horizon today, but that seems to be deferred.
BTC has touched the 28,710 threshold. Indeed, Mondays have their unique trials. Justin Sun Acquires 5 Million CRV from Curve Founder
Justin Sun has purchased 5 million CRV from Curve founder Michael Egorov via OTC transactions at a price of $0.4. This move is set to marginally enhance Egorov’s position in FRAX.
Along with Justin, seven other addresses conducted OTC transactions with Michael Egorov at $0.4 per CRV.
Currently, CRV trades at $0.59.
Hopefully, the Curve founder can avert the liquidation of his position; otherwise, it could have a negative impact on a large number of protocols in the ecosystem. 
