Top Crypto News Of The Day: Solana Bug Bounty Program, Hamster Listing on Bybit, and More

cryptocurrency news
cryptocurrency news of the day

Here is the top crypto news of the day curated by CoinChapter.com.

Solana Firedancer Bug Bounty Program Goes Live

Jump Crypto is launching a $1 million bug bounty program for Solana’s new “Firedancer” validator client. From July 10 to August 21, developers can earn up to $1 million by finding bugs in this system, which aims to improve Solana’s network performance. A bug bounty platform Immunefi will manage the program.

Crypto news: Solana Firedancer Bug Bounty Program Goes Live
Source: X

Firedancer, developed by Jump Crypto’s engineer Cantelope Peel, is designed to outperform the current QUIC protocol and potentially increase Solana’s network speed. It’s implemented in C and C++ to handle high trading volumes. Participants must complete KYC procedures to join the program, and bug reports will be investigated within 24 hours on weekdays.

Crypto News: Bybit Lists Hamster Kombat Token

Cryptocurrency exchange Bybit has added the Hamster Kombat (HMSTR) token to its pre-market trading platform. This move allows users to trade the token for the popular game on The Open Network (TON) before its official listing. Trading began on July 8 at 10:00 am UTC.

Top Crypto News, Top Crypto News Of The Day: Solana Bug Bounty Program, Hamster Listing on Bybit, and More
Source: Bybit

Bybit emphasizes this as a significant opportunity for users to acquire HMSTR tokens ahead of spot trading availability. The pre-market platform enables buyers and sellers to set quotes and execute trades at predetermined prices, giving users a chance to secure tokens early.

Digital Asset Funds See Positive Inflows

Digital asset investment products saw $441 million in net inflows last week, ending a three-week streak of outflows.

Top Crypto News, Top Crypto News Of The Day: Solana Bug Bounty Program, Hamster Listing on Bybit, and More
Source: CoinShares

Bitcoin accounted for $398 million of these inflows, while Solana-linked products saw $16 million. This marks the first positive flow since June 7.

The inflows were d to recent price weaknesses, which investors viewed as a buying opportunity. These price drops were linked to Mt. Gox’s preparations to repay creditors and the German government moving large amounts of bitcoin. However, blockchain equities continued to see outflows, totaling $8 million for the week.

Crypto News: Pancake Bunny Hacker Moves Stolen Funds

Three years after the Pancake Bunny DeFi protocol hack, the attacker has moved 1,002 Ether (worth approximately $2.9 million) through Tornado Cash, a privacy protocol. This movement comes after a long period of dormancy since the original attack in May 2021.

Top Crypto News, Top Crypto News Of The Day: Solana Bug Bounty Program, Hamster Listing on Bybit, and More
Source: CertiK

The initial hack resulted in the theft of 697,000 BUNNY tokens and 114,000 BNB, causing the BUNNY token to lose 95% of its value. This led to the protocol’s eventual dissolution and transformation into a DAO. According to CertiK, the hacker still holds about $11.4 million in Dai.

Canada to Sanction LiquiTrade for Securities Act Violation

A panel from the British Columbia Securities Commission (BCSC) has found LiquiTrade, operator of the Latoken crypto exchange, guilty of violating Canada’s Securities Act. The exchange, which processed $300 million in daily transactions for 1.5 million users, was operating without proper registration and authorization.

LiquiTrade enabled trading of crypto derivatives without the required approvals, violating Canadian securities legislation. The BCSC will finalize sanctions, which could include monetary penalties or a service ban, by August 14. Currently, Canada has banned four crypto exchanges while authorizing 15 others to operate in the country.

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