• Crypto developers have exposed flaws in Societe Generale euro stablecoin.
• Brazil and the Fed are investigating Binance over illegal derivatives offerings and tokenization and smart contracts respectively.
• Trezor is refusing coinjoin UTXOs to protect privacy, while Dutch court is set to release Alexey Pertsev under surveillance.
Investors Distance Themselves from OPNX Funding
Venture capital firms Nascent and DRW have distanced themselves from crypto exchange OPNX’s funding round, with a spokesperson for DRW confirming that the company did not invest in the exchange. Nascent also clarified that it did not participate in a funding round for OPNX either.
Societé Générale Euro Stablecoin Has Flaws
Crypto developers have exposed serious “absolutely horrible” security flaws in Societe Generale’s euro-backed stablecoin project, according to reports. The flaws were reportedly discovered after an audit of the French financial services firm’s code by Whiteblock Research, which found various issues that could allow attackers to steal funds or manipulate transactions without authorization.
Binance Under Investigation
Brazilian authorities are reported to be investigating crypto exchange Binance over its alleged offering of illegal derivatives products in the country, according to local media outlet Portal do Bitcoin. Meanwhile, Federal Reserve Governor Lael Brainard recently highlighted both the potential benefits and risks associated with tokenization and smart contracts during a speech at Harvard Law School’s FinTech Conference 2021.
Trezor Refusing Coinjoin UTXOs
Trezor has confirmed it will refuse coinjoin UTXOs as part of its commitment to protect users‘ privacy by guarding against attempts from third parties trying to de-anonymize transactions on its platform. This follows news that Dutch court is set to release Tornado Cash developer Alexey Pertsev under surveillance after he was arrested earlier this month on suspicion of money laundering via the privacy-centric platform.
OPNX Trading Low Despite Funding Round
Despite announcing fundraising support from major investors such as AppWorks, Susquehanna (SIG), DRW, MIAX Group, China Merchant Bank International, Token Bay Capital, Nascent and Tuwaiq Limited earlier today — trading on OPNX remains low as it recorded only $79,742 worth of transactions in the last 24 hours according to CoinGecko data.