China Crypto News （Aug 9 to Aug 16）Hacking and Counterattack
Headline
PolyNetwork was attacked by hackers. With the efforts of the Chinese community, the hackers eventually returned all the attacks with the largest amount in the history of DeFi. Another StableMagnet rugpull made by HK criminals was captured by the British police through community efforts. This shows that the cryptocurrency community is no longer incapable of facing hackers. White hats, security agencies, scientists, and the police have joined forces to make the cryptocurrency community more secure.
Other News
1、Huobi announced that it has achieved a trading volume of approximately US$1155.17 billion in Q2 of 2021, but its profit in July has decreased by 53% from the previous month.
Huobi because of regulatory restrictions on the use of contract of Chinese users, the July income is only 20% of May. The July income is not normal.
Huobi’s revenue in April was 520 million U.S. dollars, May’s revenue was 690 million U.S. dollars, and both February and March were about 340 million U.S. dollars.
2、Six Chinese people helped South African migrant workers by selling the RAND for bitcoins and then selling bitcoins for CNY. They were arrested by the Chinese police and are currently facing 2 to 4 years in prison. They violated China’s foreign exchange transfer limit of 50,000 US dollars per person per year.
However, the Chinese court also pointed out that it is not a violation to simply buy and sell virtual currencies such as Bitcoin. A person who only participated in the purchase and sale of Bitcoin but did not participate in the reselling of RAND was released.
3、Fenglun, one of China's most famous businessmen, said that he does not agree with Munger's views on Bitcoin, people cannot deny the rationality and future trends of Bitcoin itself, he is more optimistic about Bitcoin. However, he was recently involved in a criminal case.
4、China’s biggest e-commence company, Alibaba Auctions launched the blockchain-based NFT platform "Guangjian", and Conflux provided technical support.
5、The famous Chinese director/actress Xu Jinglei’s Instagram profile picture was changed to Animeta NFT.
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