The million dollar hack and Elon Musk’s bizarre behavior: top crypto and Web3 news for December 16 in brief

Here’s our last traditional short news roundup of the day’s top stories this week. Don’t want to waste your time looking for interesting and important information? That’s exactly what we’re here for!

Mazars is being weird

If you’re not familiar, here’s the short version: Mazars is a leading international accounting, tax and consulting firm. This month it reported that it audited Binance and that the BTC reserves of the exchange are secured at 101%.

After the collapse of FTX, many cryptocurrency exchanges announced the integration of the concept of Proof of Reserves. Mazars also audited KuCoin and Crypto.com. And now the company suddenly broke agreements with cryptocurrency exchanges. And the firm’s report on Binance reserves also became unavailable. Previously, critics have repeatedly questioned Mazars’ reports. And recently, Binance experienced problems.

Amber Group’s money joy

Amber Group is on a white streak. In recent weeks, there have been many rumors about the problems of the Singapore-based digital asset company, up to and including possible bankruptcy.  Amber Group downsized and began to look for new offices. 

The company announced that it had completed a successful new $300 million Series C financing round led by Fenbushi Capital US and with the participation of other cryptocurrency investors and family offices.

What is the connection between Elon Musk and OKX?

That’s what everyone is wondering. But so far, it is a mystery covered with shadow.

The billionaire has followed the official Twitter account of the cryptocurrency exchange OKX. This is the only cryptocurrency exchange he follows. And in general, Musk only follows 151 (now) accounts. Among them are his own companies, such as Tesla, Neuralink and The Boring Company, as well as celebrities such as French President Emmanuel Macron, Apple CEO Tim Cook, and podcaster Lex Friedman. And the official South Park account.

Why Elon Musk signed up for OKX is currently being heavily debated by the crypto community. Well, time will tell…

Where’s the safety?!

Solana-based decentralized exchange (DEX) Raydium was attacked. A hacker gained LP funds from the Raydium liquidity pool without owning/burning LP tokens. Those assets are worth more than $1.4 million in SOL and SPL tokens.

Security guards in the metaverse

Blockchain security company OpenZeppelin has launched its meta-universe security service. Its first client is The Sandbox. The companies will work together to audit smart contracts, track vulnerabilities, and identify potential threats to metaclass projects in real-time.

The Sandbox uses an OpenZeppelin security tool called Defender, which provides an overview of Web3 transactions that take place in the metaverse.