Did hackers just pull off the largest crypto heist in history?
Crypto criminals pull off USD 600 mn heist: The decentralized finance (DeFi) platform PolyNetwork may have been hit with the largest heist in crypto's tumultuous history in a cyberattack that drained more than USD 600 mn worth of cryptocurrency, Bloomberg reports. Details of the incident are still under investigation, but PolyNetwork says “tens of thousands” of users of its blockchain networks were affected by the hack.
This is the latest DeFi protocol to fall victim to hackers in less than a month following massive cyberattacks in DeFi darlings Popsicle Finance and ThorChain, who suffered two multi-mn USD exploits in one week. The series of alleged hacks could be a blow to the burgeoning finance space, which has recently come under the eye of financial watchdogs.
Need a refresher on DeFi? We’ve got you covered here and here.
Samsung could launch a spree of acquisitions and investments after vice chairman Lee Jae-Young is released from prison on parole later this week: Employees and investors expect him to ramp up the company’s investment plans in computer chips, 5G, and artificial intelligence, according to the Financial Times. Lee had served eight months of a two and a half year sentence for bribing the former South Korean President to help secure control of Samsung Electronics.
US-based mRNA vaccine manufacturer GreenLight Biosciences will go public in a USD 1.5 bn SPAC transaction, and plans to merge with special purpose acquisition vehicle Environmental Impact Acquisition Corp, the Wall Street Journal reports. GreenLight plans to begin clinical trials for its covid-19 vaccine in Africa in 1Q2022, and is also working on a vaccine for the seasonal flu, with hopes to develop a jab against sickle cell disease in the future.
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EGX30 |
10,853.83 |
+0.5% (YTD: +0.1%) |
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USD (CBE) |
Buy 15.65 |
Sell 15.75 |
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USD at CIB |
Buy 15.65 |
Sell 15.75 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
11,299.87 |
+0.91% (YTD: +30.04%) |
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ADX |
7,558.73 |
-0.19% (YTD: +49.82%) |
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DFM |
2,816.67 |
-0.24% (YTD: +13.03%) |
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S&P 500 |
4,436.75 |
+0.10% (YTD: +18.12%) |
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FTSE 100 |
7,161.04 |
+0.40% (YTD: +10.84%) |
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Brent crude |
USD 70.86 |
+2.64% |
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Natural gas (Nymex) |
USD 4.12 |
+0.66% |
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Gold |
USD 1731.70 |
+0.30% |
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BTC |
USD 45,821 |
+16% (as of midnight) |
THE CLOSING BELL-
The EGX30 rose 0.5% at today’s close on turnover of EGP 1.91 bn (31.4% above the 90-day average). Foreign investors were net buyers. The index is up 0.1% YTD.
In the green: Egyptian Resorts Company (+3.4%), Heliopolis Housing (+2.7%) and TMG Holding (+1.8%).
In the red: Sidi Kerir Petrochemicals (-6.4%), Ezz Steel (-3.5%) and Orascom Development Egypt (-2.9%).