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Alibaba Cloud: The equipment in a computer room in Hong Kong Availability Zone C is abnormal, and engineers are already dealing with it urgently

Odaily News Today, Alibaba Cloud issued an announcement saying that Alibaba Cloud monitoring found an abnormality in the equipment in a computer room in Hong Kong, affecting the use of cloud products such as cloud server ECS and cloud database PolarDB in availability zone C in Hong Kong. Alibaba Cloud engineers are already dealing with it urgently.

OKX: Temporary downtime due to cloud service provider issues, funds are safe

Odaily News OKX officially tweeted that due to the failure of the cloud service provider, some ports are currently unstable. The OKX development team is working with cloud service providers to solve this problem. Trading orders and assets have not been affected. Some users can try to switch networks or restart the APP if they encounter problems with unstable network/incomplete display of front-end assets/inability to deposit and withdraw.

Shortly afterwards, Ouyi OKX issued another announcement saying that the failure of the cloud service provider has not yet been repaired. Currently, all user transactions have been shut down and coin withdrawals are restricted. After the service returns to normal, a 10-minute downtime maintenance protection will be initiated before the normal transaction starts. Phases (Cancellable Orders and Margin Replenishment). The trading resumption time will be announced as soon as it is confirmed.
Nansen: Binance's disclosed wallet assets have shrunk by nearly $15 billion from last month

Odaily News Nansen tweeted that Binance held $69.5 billion in cryptocurrencies more than a month ago, but due to a large number of withdrawals and market volatility, the current figure has dropped to $54.7 billion.

Odaily News The Bank for International Settlements (BIS) Group of Central Bank Governors and Supervisory Supervisors (GHOS) has approved a global prudential standard for banks’ exposure to cryptoassets that will allow for a 2% crypto reserve between banks. gold exposure. The standard was developed by the Basel Committee on Banking Supervision and will be fully implemented on January 1, 2025. Unsecured cryptoassets and stablecoins with ineffective stabilization mechanisms will be treated with conservative prudence, the BIS said, and the standard will provide a robust and prudent global regulatory framework for the exposure of internationally active banks to cryptoassets to foster responsible innovation , while maintaining financial stability.

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Industry news

Binance Has Commissioned CryptoQuant to Produce Proof of Bitcoin Reserves Report

Odaily News After the audit agency Mazars announced the suspension of services for cryptocurrency customers, Binance has entrusted CryptoQuant to issue a Bitcoin reserve certification report.

According to the report, 97% of Binance’s Bitcoin customer deposits are collateralized by exchange assets; this rises to 101% if you include Bitcoin lent to customers. Unlike FTX, Binance’s BNB does not make up a large percentage of its reserves. CryptoQuant stated that Binance is not facing a reserve problem similar to FTX, and independent verification helps to ensure that financial institutions have the resources to meet their obligations and are not at risk of failure. (Beincrypto)
Gate.io is affected by the maintenance of some network nodes of the operator, and the deposit and withdrawal service will be delayed

Odaily News According to the official announcement, Gate.io is affected by the maintenance of some network nodes of the operator. The current recharge and withdrawal services will be delayed. Other services on the platform will not be affected, and neither the funds of users on the platform nor on the chain will be affected. Transactions can be carried out normally.

Gate.io is closely monitoring the progress of the operator's network status, and will immediately speed up the deposit and withdrawal processing when the operator's network is restored. If the user has submitted a withdrawal application before and does not want to wait, he can cancel it, or wait for the service to resume and it will be processed automatically. If the user is waiting for the recharge to enter the account, it will be affected by network delays, but the funds are safe, so there is no need to worry, and they only need to wait for the network to recover and automatically enter the account.
Bitvavo: There are 280 million euros in DCG memory, which cannot be withdrawn temporarily due to liquidity problems

Odaily News Dutch cryptocurrency exchange Bitvavo stated that it has lost access to 280 million euros (about 297 million U.S. dollars) in assets stored in DCG.

Bitvavo stated that the exchange has a total of 1.6 billion euros in digital assets, of which 280 million euros are deposited in DCG to provide customers with off-chain pledge services through the platform, but due to liquidity problems, this part of the deposit has been "suspended". payment". Bitvavo said its services will not be interrupted and customers can continue to withdraw cash from the exchange. (The Block)
Source: SBF will no longer oppose extradition to US
Odaily (Reuters) - FTX founder SBF is expected to say in a Bahamian court on Monday that he will no longer challenge extradition to the United States, where he faces criminal fraud charges, sources told Reuters.

Earlier this week, SBF was arrested in the Bahamas and charged with fraud. A U.S. grand jury charged him with committing or conspiring to defraud FTX's customers and lenders and money laundering. The SEC accused him of defrauding investors and of using client funds for political donations and a lavish lifestyle.

He is currently being held at Fox Hill Jail after a judge denied SBF's request to remain at home while awaiting an extradition hearing. If convicted on all criminal charges, SBF could face up to 115 years in prison. (The Block)
The official website of the FTX Foundation is closed

Odaily News The official website of the FTX Foundation, a charity under FTX, is no longer available. Sources have suggested that the FTX Foundation may be using funds embezzled by SBF from FTX clients to provide charity, as most of the foundation’s funds come from SBF himself.

The FTX Foundation was launched in February of this year and is said to have donated a total of $1 billion in funds, and data shows that its total donations exceeded $190 million before its closure. After the news of FTX’s bankruptcy broke out, the FTX Foundation’s executive team quickly took a collective vertical and issued a statement condemning FTX’s leadership for engaging in deceitful or dishonest behavior.
FTX Bankruptcy Judge Allows Media Outlets to Speak on Jan. 11 Hearing on "Public Creditor List"

Odaily News FTX investigation judge John Dorsey said that he will allow a group of media, including Bloomberg and the Financial Times, to elaborate on his arguments on the request for "public creditor list" at the hearing on January 11. FTX argues that disclosing the details of creditors (including customers) may expose customers to fraud while violating privacy laws, and that the practice also helps competitors poach users, weakening FTX's ability to find potential buyers. the value of.

In previous news, the Financial Times, Wall Street Journal, New York Times and Bloomberg filed a lawsuit on December 10 asking the court to disclose the list of FTX creditors. The lawsuit aims to reveal the specific identities of more than 100,000 creditors of FTX, as well as the specific information of the top 50 creditors (a total of approximately $3.1 billion in debt). (Reuters)

Accounting firm BDO plans to suspend services for cryptocurrency clients

Odaily News Accounting firm BDO intends to suspend or limit services to cryptocurrency customers. The Wall Street Journal disclosed that a BDO company representative revealed that, like several other audit firms that have recently suspended cryptocurrency services, BDO is currently evaluating methods for conducting audit work for encrypted customers. So far, BDO has not made it clear that it will abandon relevant customers, but hints that there is such a possibility. (WSJ)
Odaily News Evan Luza, the co-founder of the NFT project Cool Cats, disclosed on social media that he will retire behind the scenes as a project consultant. Evan Luza said he will focus on "new things to start next."

Project News

Raydium: The cause of the attack was the leakage of the private key, and the total loss was about 4.395 million US dollars

Odaily News In response to the attack, Raydium tweeted an update saying that the vulnerability seems to be caused by a Trojan horse attack and the leakage of the private key of the pool owner account. As an immediate fix, previous owner permissions have been revoked and all program accounts updated to new hard wallet accounts, so attackers no longer have access and can no longer exploit the pools.

Raydium also stated that the total damage from the attack was about $4.395 million.

The co-founder of Cool Cats announced that he will step back from the background as a project consultant and plans to launch a new project

Odaily News Evan Luza, the co-founder of the NFT project Cool Cats, disclosed on social media that he will retire behind the scenes as a project consultant. Evan Luza said he will focus on "new things to start next."
In addition, Cool Cats also announced that it has jointly launched the football NFT series with Animoca Brands and OneFootball. Security is ensured to verify the integrity of each scheme provided to the smart contract.

Irerobot, a Web3 application interactive development company, completed a seed round of financing of 500,000 euros, and the Cyprus Research and Innovation Foundation participated in the investment

The proprietary algorithms, software and hardware developed by Irerobot can embed smart watches, smartphones, VR/XR devices and other human-machine interfaces into Web3 applications. In addition to this funding, Irerobot is also backed by KV Fund, which injected an additional €300,000 to help accelerate development and build commercial applications that support haptics, and Kinisis Ventures, which will provide guidance and further business support. Exchange opportunities to open the US market. (cyprus-mail)
The proprietary algorithms, software and hardware developed by Irerobot can embed smart watches, smartphones, VR/XR devices and other human-machine interfaces into Web3 applications. In addition to this funding, Irerobot is also backed by KV Fund, which injected an additional €300,000 to help accelerate development and build commercial applications that support haptics, and Kinisis Ventures, which will provide guidance and further business support. Exchange opportunities to open the US market. (cyprus-mail)

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Xu Mingxing: Alibaba Cloud’s downtime is far longer than that of peers, and products with cross-regional high availability cannot be used
Odaily News Xu Mingxing, founder of OKGroup, said in response to today's Alibaba Cloud downtime incident:
1. In the history of AWS, the availability zone was down for only one hour. The accident of Alibaba Cloud took 24 hours.

2. Many designs of Alibaba Cloud are products with cross-regional high availability, such as mysql, redis, elastic search, oss, etc. In this incident, the main and backup cannot be switched, and the problem of repeated switching has occurred. Up to now, mysql and redis are still unusable , the actual effect is that, on the surface, only one availability zone is hung up, but in fact, it is equivalent to hanging up all of them.

3. This incident will become a major scandal in the development history of Alibaba Cloud.
Reflexivity founder: Multiple DCG-related currencies are being sold off on a large scale

Odaily News Will Clemente, founder of Reflexivity Research, a cryptocurrency analysis agency, tweeted that multiple cryptocurrencies (FIL, ZEN, ETC, NEAR, etc.) Selling, investors suspect that the selling pressure comes from DCG itself.

Adam Cochran, partner at CHEV, also said that DCG seems to be liquidating from the perspective of the decline and trading volume of certain altcoins.
Sources: U.S. Attorneys Investigating SBF, Associates' Political Contributions
Odaily News Sources said that U.S. federal prosecutors are seeking more information about SBF and two executives working with it to make political donations to Democratic and Republican lawmakers.