Crypto Daily Roundup: Alphapo Hacked for US$23M

Jumpstart your day with the latest updates on Crypto projects like Bitcoin, Ethereum, and more

Payment gateway Alphapo was hacked for US$23 million in different digital assets during the early hours of today, according to ZachXBT. The US Securities and Exchange Commission asked a federal judge to ignore parts of a recent ruling in the regulator's litigation with Ripple Labs Inc., saying the decision doesn't square with existing securities laws and that it may appeal. With this crypto daily roundup, you can jumpstart your day with the latest updates on cryptocurrencies like Bitcoin, Ethereum, and more.

Crypto Price Movement

Bitcoin has lost 0.31% in the last 24 hours, trading at US$29,781.77. It is 1.68% down compared to last week. Ethereum, the second most popular token, is down 0.09% from yesterday and now trades at US$1,869.88. It is down 3.14% from last week. Other popular altcoins like Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) saw minor dips across the board. The global cryptocurrency market cap was trading flat and continued to hold at US$1.19 trillion as it declined marginally, less than a percent, in the last 24 hours.

Terraform Labs Has Argued the Ruling Undermines SEC's Argument

The US Securities and Exchange Commission asked a federal judge to ignore parts of a recent ruling in the regulator's litigation with Ripple Labs Inc., saying the decision doesn't square with existing securities laws and that it may appeal.

The ruling in the Ripple case concluded that sales of Ripple's XRP token directly to institutional investors violated the SEC's rules. However, offerings to retail investors on exchanges didn't, delivering what was widely seen as a victory to the crypto industry.

NFT of Jack Dorsey's First Tweet

The first tweet of Jack Dorsey, whose non-fungible token (NFT) was sold for US$2.9 million to crypto entrepreneur and Iranian investor Sina Estavi in 2021, is reportedly worth less than US$4. At the time of purchase, Estavi tied the NFT's value to its uniqueness and its association with a valuable company like Twitter.

Dorsey had put the tweet up for digital auction as an NFT, a digital good that lives on the Ethereum blockchain, on March 5, 2021. Dorsey first posted the tweet on March 21, 2006, as per the IANS report.

Indonesia Has Launched a National Crypto Asset Bourse

Indonesia has launched a national crypto asset bourse to open transaction records to regulators and protect crypto investors. As explained by the Commodity Futures Trading Regulatory Agency (Bappebti), the launch of the national exchange and clearing house is part of a more significant effort of the Indonesian government to enhance the monitoring of the crypto sector during a shift in regulatory oversight.

In November 2022, Indonesia's finance minister Sri Mulyani Indrawati revealed that the government was planning to transfer authority to regulate and supervise crypto investment to the Financial Services Authority (OJK). Bappebti and the Trade Ministry were in charge of overseeing crypto activities in the Southeast Asian country.

Alphapo Hot Wallet Hacked for US$23M

Cryptocurrencies payment gateway Alphapo was hacked for US$23 million in different digital assets during the early hours of today, according to ZachXBT.

The incident appears to have impacted HypeDrop, a crypto-gambling platform that has suspended withdrawals and deposits for certain assets.

Malicious players have stolen over US$100 million across different crypto projects and blockchain networks in July, according to DeFillama data.

Ripple Applies for Crypto Licenses in the UK and Ireland

Sendi Young, Ripple's European managing director, recently announced that the business has filed for UK Financial Conduct Authority (FCA) encryption and Irish Payments licenses.

Ripple has applied for a payment services license in Ireland, allowing it to provide its payment services in the region and an encryption license in the United Kingdom to establish itself as an encrypted asset firm.