Mixin hacked for $200M, Worldcoin eyes larger growth and Haun Ventures’ execs discuss crypto regulation

Welcome again to Chain Response.

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Good day, frens and cheers to the top of September!

We’re recovering from Disrupt 2023 and gearing up for the extremely anticipated Sam Bankman-Fried trial, which begins on October 3. Maintain an eye fixed out for tons of protection from us because it all unravels over a six-week interval to find out whether or not the 31-year-old former CEO of FTX is responsible on seven counts of fraud and conspiracy. Extra to return.

As for different information, it’s been an fascinating and considerably slower week for the crypto neighborhood.

However, black hat hackers struck the business, but once more. On Sunday, Hong Kong-based crypto firm Mixin misplaced round $200 million to hackers in a breach. The hack on Mixin is the most important theft within the crypto world in 2023, in keeping with knowledge maintained by Rekt. What was the second largest hack, you’re questioning? I can’t give every little thing away, so go learn the story under.

This week in web3

1. Worldcoin doubles down on rising markets amid wider criticism (TC+)
2. Hackers steal $200M from crypto firm Mixin
3. Yuga Labs safety researcher warns of chilling impact after feds search cellphone at airport
4. Telegram begins to appear like a brilliant app, echoing WeChat
5. Why Solana, Polygon and Aptos count on the enterprise to drive mass adoption (TC+)
6. Katie Haun believes now is an effective time to put money into crypto
7. Chris Lehane: The SEC isn’t dealing with crypto regulation ‘strategically’ (TC+)
8. Akowe desires to repair Africa’s damaged certificates system with blockchain

The most recent pod

For this week’s episode, Jacquelyn interviewed Tiago Sada, head of product for Instruments for Humanity and core contributor to Worldcoin, at starcrypto’s Disrupt 2023 in San Francisco.

Instruments for Humanity, which is the staff constructing Worldcoin, raised $115 million in a Sequence C spherical again in Could with traders like Blockchain Capital, a16z, Bain Capital Crypto and Distributed International. In March 2022, Worldcoin raised $100 million at a $3 billion valuation.

The venture was co-founded by OpenAI CEO Sam Altman with a three-part mission to create a world ID, a world foreign money and an app that permits funds, purchases and transfers with its token.

Worldcoin has been on a world tour since April, hitting main cities like Tokyo, Miami, New York Metropolis and San Francisco. It has additionally arrange store in main cities in nations like Kenya, India and China.

We dive into why somebody would scan their eyes, alternate choices and privateness issues some skeptics have in regards to the venture.

We additionally talked about:

• The worldwide adoption of Worldcoin
• Kenya “indefinitely” pausing Worldcoin iris scans
• The venture’s largest challenges for progress
• How AI can match into Worldcoin
• Future alternatives and roadmaps

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please go away us a overview if you happen to like what you hear!

Observe the cash

1. On-chain leverage buying and selling platform Avantis Labs raises $4 million seed spherical led by Pantera Capital
2. Privateness-centric blockchain Fhenix raises $7 million in spherical led by Multicoin Capital
3. Web3 dev platform Alchemy acquired blockchain indexing platform Satsuma
4. Bitmain will make investments $54 million in now-bankrupt bitcoin mining agency Core Scientific

This record was compiled with data from Messari in addition to starcrypto’s personal reporting.

What else we’re writing

Need to department out from the world of web3? Listed here are some articles on starcrypto that caught our consideration this week.

1. Bootstrapping is cool as soon as once more (TC+)
2. The present labor market is a gold mine of expertise for startups (TC+)
3. What’s one of the simplest ways to run a startup in a world full of recommendation? (TC+)
4. This startup desires to confirm your ID with out storing your private knowledge
5. Was tech’s ‘bull run’ merely a brief surge? (TC+)

Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.