Axie Infinity hacked for $612M, OpenSea expands support to Solana and other news

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A week in review: March 27–April 2

We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news:

#1. Axie Infinity's Ronin bridge hacked for over $600M

Axie Infinity's Ronin Bridge was the victim of a hefty hack worth around $612 million earlier this week, with 173,600 Ether and 25.5 million USD Coin being stolen from the platform.
Ronin developers stated that the attacker used hacked private keys to forge fake withdrawals, draining the funds from the Ronin Bridge in just two transactions.
In a statement on Wednesday, the developers stated that they were "working with law enforcement officials, forensic cryptographers and our investors to make sure that all funds are recovered or reimbursed. All of the AXS, RON and SLP [tokens] on Ronin are safe right now."
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#2. OpenSea set to integrate Solana in April, further expanding the NFT ecosystem

Top NFT marketplace OpenSea announced a long-awaited integration with the Solana blockchain on Wednesday. The expanded support, expected to go live in April, adds to OpenSea's existing support of Ethereum, layer-2 Polygon and Klaytn.
It appears the move has been well received, with OpenSea's 16-second teaser video on Twitter pulling 615,500 views, 8,964 retweets and 21,700 likes within 18 hours of posting.
Alluding to the vast number of tweets and media publications commenting on the potential for a Solana launch, OpenSea cheerfully referred to the announcement as the "best-kept secret in Web3."
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#3. Crypto industry fires back after EU vote to block 'unhosted' wallets

The cryptocurrency industry has fired back at the European Parliament, the legislative arm of the European Union, voting in favor of stringent crypto regulations relating to "unhosted" private wallets.
The guidelines would require crypto service providers to verify the identity of every individual using an unhosted wallet that interacts with them, while any transaction greater than 1,000 euros would need to be reported to authorities.
"Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros," Coinbase CEO Brian Armstrong wrote on Twitter. "Or if you sent money to your cousin to help with groceries, the EU required your bank to collect and verify private information about your cousin before allowing you to send the funds."
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#4. Prediction of the week. VanEck says Bitcoin could hit $4.8M if it became the global reserve asset

U.S. investment giant VanEck has come up with a lofty prediction concerning Bitcoin — and one that has very little chance of coming to fruition in the foreseeable future. The firm suggested this week that 1 BTC could be worth $4.8 million if it becomes the world's reserve currency.
The extremely optimistic estimation was part of a report by VanEck's head of active EM debt management, Eric Fine, and chief economist Natalia Gurushina, who outlined a thought experiment comparing the price implications for gold and Bitcoin after being adopted as reserve currencies.
VanEck's analysis found that the implied price for BTC ranged from $1.3 million to $4.8 million. But they ultimately concluded that the Chinese yuan is the most likely currency to become a global reserve asset if the U.S. dollar crumbles moving forward.
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#5. FUD of the week. Crypto-skeptic gamers review bomb Storybook Brawl after FTX buys it

A bunch of angry gamers review-bombed Storybook Brawl on Steam over fears of potential NFT and blockchain integrations, following crypto exchange FTX US acquiring its developer, Good Luck Games.
FTX US announced the acquisition on Friday and, at the time of reporting, 600 out of 761 reviews were negative, with most of them commenting about how good the game was until it sold out to a crypto firm.
"Good Luck Games was acquired by FTX, a cryptocurrency company, as a way to 'help crypto make inroads with gamers.' I want no part of that and I don't want crypto 'making inroads' in things I'm interested in. Uninstalled," wrote Steam user "King Bear," who has clocked more than 60 hours in the game.
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#6. FUD of the week. Greenpeace, Ripple co-founder campaigning to change Bitcoin code

Greenpeace has teamed up with Ripple co-founder and executive chairman Chris Larsen to launch a new campaign aimed at changing Bitcoin's mining practices to an environmentally sustainable model.
The campaign is called "Change the Code, Not the Climate," and Greenpeace in particular cited concerns that the energy required to mine Bitcoin comes mostly from fossil fuels.
"If only 30 people — the key miners, exchanges and core developers who build and contribute to Bitcoin's code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, Bitcoin would stop polluting the planet," the campaign notes.
Bitcoin enthusiasts were less than pleased with the new campaign, with several prominent industry leaders arguing that the Bitcoin network would never abandon proof-of-work.
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