Weekly Cryptocurrency News. Friday, April 14

Friday, 14th of April. As the week comes to an end,  we can focus on the crypto industry highlights over the past few days.

SushiSwap reveals hacking damages compensation plan

The SushiSwap DEX team shared some details on the exploit occurred as well as on the general procedure for refunding users.

Developers once again reminded us to withdraw confirmation for the affected smart contract. This is not necessary provided that the interaction with RouteProcessor2 took place more than 10 days ago. 

Otherwise, using the SushiSwap platform is “absolutely safe,” they assured.

During the exploit, funds were withdrawn by both white hackers aiming to rescue the 6funds, and attackers as well.

If a user’s assets fall into the first category, he/she will be able to claim them through the team’s specially created Merkle Claim contract. It is expected that the solution will start its operation soon.

Those whose funds ended up in the second group need to provide the team with transaction details and blockchain data via email or Discord.

“The Sushi team will begin the process of reviewing the claims that a user can make, and we will deal with the claims on a case-by-case basis,” the de7velopers said.

They estimate that the process will take a considerable amount of time because of the large amount of manual work. More information the team promises to provide in the “near future.”

“Our goal is to return all user funds to legitimate claimants. We appreciate everyone’s patience and understand your frustration,” the SushiSwap team assured.

As far as you remember, BlockSec specialists managed to intercept a hacker’s transaction of 100 ETH from the wallet of DEX user, who lost 1800 ETH as a result of the attack.

The Curated platform for navigating Web3 art launched

The Luminous Art Foundation, a non-profit organization, has launched The Curated, a decentralized platform for cataloguing and structuring existing digital art. 

The site has a search engine and boards for storing information found, similar to Pinterest. It allows you to subscribe to your favorite artists, as well as make themed art collections. 

A decentralized curatorial board will manage the platform – specifically, 50% of its members will be appointed by the Luminous Art Foundation, and the other half will be elected each quarter by The Curated DAO.

The project team plans to launch an educational program and curatorial projects with famous artists. 

The Curated also announced an open contest for curators of Web3 art and those who want to grasp this field. They must present short biographies and create a selection of artwork based on the suggested themes. From these, a jury will select ten candidates for election to The Curated DAO’s curatorial board.

Recall that in early March, the digital art-focused platform Wild raised $7 million in a seed round of funding.

Twitter to enable stock purchases through eToro

On April 13, Twitter introduced the feature to trade stocks and other assets. The social network page with a $ sign ticket will offer you to visit to the platform of the partner – eToro, writes CNBC.

Twitter developers have expanded the range of supported stocks as part of the asset price demonstration feature and the TradingView chart view. 

Cryptocurrency tickers are no longer displayed.

In an interview with Decrypt, platform representatives expressed hope in the following way: “it will be resolved soon.” After buying the company in November 2022, Elon Musk set out to turn Twitter into a “super app.”

“We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro,'” asserted the latter’s CEO Yoni Assia.

FTT token soars 90% after FTX relaunch proposals

Lawyers of the notorious DEX will submit a plan to the bankruptcy court in July in order to reorganize the exchange with a possible reopening, The Block reports. FTT token price responded with a 90% skyrocketing.

“The dumpster fire is out,,” Sullivan & Cromwell partner Andy Ditderich announced during the hearing.

The lawyer specified that the company gathered a total of $7.3 billion in assets. FTX, along with more than a hundred affiliated entities submitted a bankruptcy filing in November 2022. At the presentation held in March, exchange officials estimated an aggregate shortfall of $8.7 billion to cover customer and creditor claims, including about $1.6 billion in BTC.

However, when asked by Judge John Dorsey about the prospects of restarting the exchange, Dietderich failed to give a clear answer. According to him, the venture would require raising “significant capital.” As one of the options, he cited the opportunity to give customers FTX to invest part of their due to them in the shares of the revived platform.

A preliminary timetable presented to the court suggests that a detailed reorganization plan will be filed in the Q3 2023.

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