Summary of today’s crypto news:
Here’s a summary of what happened in the cryptocurrency space today:
1. South Korean cryptocurrency entrepreneur Hugo Hyungsoo Lee was attacked in court by a Haru Invest victim and stabbed in the neck. Lee and two of his executives are accused of stealing $826 million worth of cryptocurrency from about 16,000 users.
2. The Telegram Open Network (TON) stopped verifying new transactions since the evening of August 27, and no new blocks have been generated for more than six hours. The outage was blamed on the frenzy of hype about the newly launched memecoin DOGS.
3. Ethereum co-founder Vitalik Buterin disclosed the Ethereum Foundation’s spending in 2023. Of that, 36.5% was for “new institutions” or organizations supporting the Ethereum network, 24.9% for layer 1 R&D, 12.7% for community development, and 10.4% for applied zero-knowledge work.
4. Buterin also responded to criticism that the Ethereum Foundation seemed to lack interest in decentralized finance (DeFi), denying those claims.
Overall, the incidents highlighted cases of fraud in the cryptocurrency industry, network outages, and concerns about foundations’ management of funds.
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