#lost

“I forgot my bank password and lost my entire net worth. No, actually, that didn’t happen, because banks work and bitcoin doesn’t,” Jimmy Wales shared on his X.

The OTC trades of FTX creditor claims are now valued at over 50 cents per dollar lost. This signals a growing belief in recovering at least half of their assets. This surge follows the disclosure of FTX's substantial stake in the AI company, Anthropic. The potential sale of this stake holds promise for a more successful fund recovery for creditors.

On October 6, 2014, the first-ever USDT transaction took place, marking the beginning of this stablecoin's journey. Since then, USDT has weathered its fair share of FUD (Fear, Uncertainty, Doubt). However, it's worth noting that USDT has also had several instances where it temporarily lost its peg to the US dollar.

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.

On August 30, Judge Katherine Polk Failla delivered a significant ruling on a case brought forth by Uniswap users who alleged they lost funds due to scam tokens on the platform. She stated that ETH and Bitcoin qualify as crypto commodities, a pivotal factor in her decision to close the Uniswap case.J udge was not persuaded by arguments suggesting Uniswap token sales were subject to the Exchange Act. Failla is also the judge overseeing the SEC’s case against Coinbase.

Craig Wright, who asserts he is Bitcoin's creator, has lost his libel case appeal against Peter McCormack. Wright had claimed McCormack damaged his reputation by calling him a fraud who didn't invent Bitcoin. Initially, the court found McCormack's comments defamatory but reduced damages to £1 due to Wright's conduct. The UK Court of Appeal upheld this decision, stating Wright failed to produce adequate evidence for his claims.

Raft, a platform in the decentralized finance realm, experienced a major exploit, losing $3.3 million. The hacker, however, lost the pilfered funds due to a peculiar mistake.

The Real USD stablecoin (USDR), backed by crypto assets and real estate, has lost its peg to the dollar, resulting in nearly a 50% price drop.

A few months after Multichain lost approximately $125 million in assets and ceased to exist, the remaining team members have announced the launch of a new project. It was named ValueRouter, and its functionality entirely mirrors the previous application, as if nothing had changed. This provoked skepticism and dissatisfaction within the cryptocurrency community. ZachXBT, a famous blockchain detective, advised the team to take care of the lacking $125 million before taking on another questionable project.

The body of Spanish crypto influencer Fernando Perez Algaba was tragically discovered in Argentina. He had been declared missing since last Tuesday. On July 23, children in Ingeniero Budge found a suitcase containing his amputated limbs. The police subsequently found his torso on the next day, and his head was located in a backpack on July 25. The motive for murder was related to his debts. A note left by Algaba’s explained that he had lost a significant amount of money invested in cryptocurrencies.