Grayscale’s Bitcoin Trust now holds over 500,000 Bitcoins, with a fund that exceeds $8.3 billion.
The crypto-currency fund manager, Grayscale Investments, now has over 500,000 BTCs in its Bitcoin Trust.
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According to a November 16 release, Grayscale now has a value of $8.35 billion in Bitcoin, which is equivalent to 2.69% of the supply and market capitalization of Bitcoin (BTC).
But with Chainalysis estimating that around 3.7 million BTC has been lost, Grayscale now holds 3.37% of the current Bitcoin supply.
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To attract institutional investors who are willing to pay a premium to buy and hold cryptosystems through the security of a regulated fund, shares in Bitcoin Storm scam are currently priced at $15.62 each, although they change hands for $18.86. This equates to almost a 19% premium. Grayscale also charges an annual fee of 2%.
Grayscale Bitcoin Trust now holds more than 500,000 $BTC. Yes, you read that right. Learn more about the world’s largest #Bitcoin investment product. #GoGrayscale https://t.co/2sEpUdw8iN pic.twitter.com/9h8nGZ8i4t
– Grayscale (@Grayscale) November 16, 2020
Grayscale’s Bitcoin Trust has aggressively accumulated Bitcoin throughout 2020, with the amount of BTC in the fund increasing by almost 50% in the last six months. That’s a big increase in 2020 for a fund that was launched seven years ago and reflects increased institutional interest.
Last week, the fund reported its largest weekly inflow, receiving 15,907 BTCs valued at USD 215 million.
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Grayscale’s Ethereum Trust also increased its purchases during this 2020, and now holds approximately $1.175 billion in Ether, or 2.24% of ETH’s total capitalization.
Grayscale’s other eight cryptomoney funds currently manage nearly $400 million in assets, bringing the total value of digital assets managed by the company to $9.9 million.
Origin Dollar, the stablecoin of Origin Protocol, has been hacked for $7 million
Origin Protocol has announced that its OUSD has been hacked and has had at least $7 million taken from it.
Origin Dollar (OUSD), the stable token launched by Origin Protocol in late September, has been hacked for $7 million.
On November 17, Origin Protocol founder Matthew Liu announced that the stablecoin had been hacked, indicating that $1 million of the $7 million in lost funds, which included DAI and Ether, had been deposited by Origin’s founders, employees and the company itself.
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The team does not currently know the exact nature of how the exploit took place, however they did note a quick loan transaction that appears to be „the root of the attack“. The transaction cost almost 0.54 Ether to complete.
„The team is in charge of trying to find out which vulnerability was exploited and how the hacker was able to access user deposits. Expect an updated message within an hour.“
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In response to the attack, OUSD deposits have been deactivated, and traders have been advised not to buy the token:
„Please do not buy OUSD from Uniswap or Sushiswap, as current prices do not reflect the underlying OUSD assets. This is a rapid process, and our entire team has been mobilized to address the crisis.
Leu added that the team has no intention of „disappearing,“ emphasizing that the events do not constitute „an internal scam.
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According to CoinGecko, OUSD is currently trading for less than $0.10 at Uniswap.
According to Nick Chong of the venture capital firm Hex Capital, the hacker is currently laundering the stolen funds using the Bitcoin RenBTC tokenization protocol.
Chong also indicated that Origin’s default is the fifth major flash loan attack to hit DeFi in the last three weeks, after the attacks on Harvest, Akropolis, Value and CheeseBank.