South Korean Gaming Titan to Buy Bitcoin Exchange Bithumb for $460M

South Korean Gaming Titan to Buy Bitcoin Exchange Bithumb for $460M

THELOGICALINDIAN - Korean gaming aggregation Nexon is advancing to buy Bithumb for 460 actor Local account appear on the adventure today

One of the world’s better gaming companies, Nexon, is reportedly accepting the afflicted cryptocurrency barter Bithumb. The accord is account about $460 million.

Nexon Eyes Bithumb Sale 

Nexon, one of Korea’s better video gaming companies, is advancing to access Bithumb. The accord is said to be account almost $460 million. Korean outlets Maeil Business Newspaper and Naver News covered the adventure today. 

The aggregation was put up for sale after that month. It was rumored that the arch crypto barter Huobi was set to access in November, admitting an acceding was never finalized. 

Bithumb is South Korea’s better cryptocurrency exchange. It’s been broadly covered in the account afresh due to a artifice analysis surrounding the company’s owners. Local authorities raided the company’s offices in September beneath chase and access orders.

Bithumb’s benign buyer and Chairman, Lee Jung Hon, was accused of profiting $27.5 actor for affairs Bithumb tokens to barter after advertisement them.

But the latest letters announce that Nexon has acquired a 65% pale in the business. If confirmed, it will additionally booty over Bitstamp and Korbit, which were ahead acquired by Bithumb. 

Nexon is a above amateur in the video bold industry. It’s account an estimated $2.8 trillion. 

Origin Protocol has relaunched its OUSD badge afterwards adversity an attack.

Origin Protocol suffered a adverse beam accommodation advance in November, consistent in $7 actor account of losses. Now, the aggregation has relaunched its stablecoin, OUSD, which was afflicted by the incident.

Origin Revamps Stablecoin 

Origin Protocol allows DeFi users to abduction crop on their backing in Tether (USDT), USDC, or DAI by exchanging it for OUSD.

The OUSD stablecoin accomplished above problems aftermost November back Origin Protocol was exploited in a beam accommodation attack. During the attack, a awful user auspiciously adopted $32 actor account of ETH, again begin a reentrancy bug in Origin’s contract.

That accustomed the antagonist to backpack out a rebase accident to aerate the accumulation of OUSD and barter the baseborn funds on a decentralized exchange. The aggrandized accumulation acquired OUSD to collapse to $0.14.

Now, the activity has relaunched its Origin Dollar pool. The advancement was appear via a blog post yesterday. Origin co-founder Josh Fraser wrote that the activity charcoal “committed to our eyes of a above stablecoin for the Ethereum network.”

He added that the activity is “returning with renewed confidence” and that it sees OUSD as an “essential architecture block” of DeFi.

Improvements to Origin Protocol

Matthew Liu, one of Origin’s co-founders, explained to Crypto Briefing that Origin Protocol had undergone no audits back the drudge occurred. “Now, we accept undergone two aegis audits for OUSD with Trail of Bits and Solidified, acclamation both the analytical affair and abundant abate issues,” he said. 

He went on to say that the aggregation has agitated out “rigorous centralized auditing” as able-bodied as new cipher reviews. The activity will additionally run added audits as the artefact is upgraded.

Additionally, the aggregation has categorical its affairs to add “additional yield-earning strategies” to advance allotment for captivation OUSD. 

Origin will additionally focus on integrations with Automated Market Makers and lending protocols, as able-bodied as centralized exchanges. “We appetite to accomplish OUSD accessible for the crypto boilerplate to use, and not aloof DeFi specialists,” Liu said. Origin will additionally accommodate DeFi allowance with allotment from Origin’s treasury.

Users Will Be Compensated

The improvements chase Origin Protocol’s advertisement that it will atone users. In December, Origin outlined its affairs to pay aback users afflicted by the beam accommodation advance with $1,000 account of OUSD, as able-bodied as added advantage breach amid OUSD and the project’s babyminding token, OGN.

OUSD’s accepted bazaar cap is aloof over $777,000 according to CoinGecko. In a cogent advance from backward aftermost year, it is almost amount called to the U.S. dollar at $0.96. 

The accepted APY for depositing into the agreement is estimated at 14.63%, according to the Origin Dollar website.

Disclosure: At the time of writing, the columnist of this affection had acknowledgment to YFI in a cryptocurrency index.