7 Top Weekly Crypto Updates: Armstrong’s Arrest, HTX & Mixin Hacking

TL;DR

This week in crypto saw significant events including the arrest of Ben Armstrong, hacking incidents involving HTX and Mixin Network, and a notable SEC settlement involving Deutsche Bank. The market experienced fluctuations in response to these developments.

Key Takeaways

• Ben Armstrong was arrested, leading to a 30% drop in BEN token prices.
• Optimism's price fell by 3.6% ahead of a scheduled unlocking event.
• Deutsche Bank agreed to a $25 million fine in an SEC settlement.
• HTX lost $7.9 million to hackers but is offering a bounty for the return of funds.
• Mixin Network was hacked for nearly $200 million, with a $20 million bounty offered for asset recovery.

What Happened with Ben Armstrong?

Ben Armstrong, founder of BitBoy Crypto, was arrested on September 25, 2023, due to allegations of loitering and simple assault. Following his arrest, BEN token prices dropped by 30%. He was released on bail the next day.

Optimism's Price Drop Ahead of Unlocking Event

Optimism (OP) is set to unlock 3% of its circulating supply, valued at $30 million. However, ahead of this event, the price dropped by 3.6%, indicating investor concerns.

Deutsche Bank's SEC Settlement

Deutsche Bank has agreed to pay a $25 million fine related to allegations of greenwashing and anti-money laundering lapses involving its subsidiary, DWS Investment Management Americas Inc.

HTX Hacking Incident

HTX, formerly known as Huobi, lost $7.9 million in ETH due to hacking. The company is actively seeking the return of the stolen funds and has offered a job to the hacker as a security advisor.

Hong Kong's Crypto License Disclosure

In response to the JPEX probe, Hong Kong's Securities and Futures Commission announced plans to disclose all crypto license applicants, emphasizing the need for proper regulation.

Mixin Network Hack

Mixin Network suffered a hack resulting in a loss of nearly $200 million. The company has offered a $20 million bounty for the return of the stolen assets.

Weekly Gainers and Losers

Top Gainers of this Week:

• Curve DAO Token: $0.5312 (20.93%)
• Terra Classic: $0.00006682 (17.03%)
• Pepe: $0.00007155 (14.23%)
• Maker: $1,452.69 (11.57%)
• Frax Share: $5.87 (11.34%)

Top Losers of this Week:

• XDC Network: $0.04791 (11.58%)
• Toncoin: $2.26 (8.34%)
• Casper: $0.03177 (7.54%)
• Render: $1.51 (5.31%)
• Optimism: $1.31 (5.30%)

What’s Next?

The upcoming week is expected to bring further developments in the ongoing hacking cases and the implications of Armstrong's arrest. Additionally, the market will be watching Optimism's unlocking event closely.