Stuti Mansata

Crypto lending platform Moola Market recovers a majority of the exploited funds. The market was exploited via price manipulation of its native token, MOO on October 18. This resulted in the platform losing upto $9 million. The platform tweeted that it was investigating the incident and had paused all activity. The platform also added that it contacted legal authorities and offered a bug bounty to the attacker if they returned the funds within 24 hours.

At a recent TechCrunch Disrupt conference panel, Reddit chief product officer Pali Bhat revealed that over 3 million Redditors had used Reddit’s Vault Wallet to create crypto wallets. To put that into perspective, NFT’s biggest marketplace OpenSea is speculated to have only 2.3 million active wallets. This means that Reddit potentially has more active wallets than OpenSea. Bhat pointed out that a majority of the Vault wallets were created to purchase NFT avatars.

The German crypto bank Nuri has announced that it is preparing to shut down and liquidate its funds and has asked its 500,000 users to withdraw their funds. The CEO of the bank, Kristina Mayer announced that trading will continue until the end of November however, requested customers to withdraw their funds by December 18. Nuri filed for insolvency back in August due to the turbulent crypto market. The bank said at the time that it was working on a restructuring plan and securing a buyout.