📉Markets Shaken By Looming Court Decision On FTX Asset Sales

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The crypto markets are down across the board in anticipation of both incoming U.S. inflation data and a Sept. 13 court decision that could greenlight FTX's plans to offload its crypto holdings. Assets among FTX's largest holdings suffered heavier losses, including SOL, XRP, and APT.

If approved, the plan would see Galaxy Digital sell FTX's assets at a rate of up to $200M per week. FTX said reducing its exposure to volatile crypto assets will maximize the value returned to debtors.

Blockchain sleuths have identified an airdrop hunter operating 21,877 wallets on ZkSync Era. The user even launched a closed decentralized exchange and token to facilitate trades between their various wallets.

CoinEx, a Hong Kong-based centralized exchange, suffered a $43M loss after its hot wallets were breached by a hacker yesterday. The exchange said the balances of all affected will be restored.

And the hyped launch of BANANA, the memecoin for revenue-sharing telegram trading bot, Banana Gun, ended in tears after hackers exploited a bug in the token's code.

✍️ In today’s newsletter:

• Digital assets pull back
• Court decision on FTX asset sale looms
• Sleuth identifies ZkSync Era Sybil attack spanning 21,877 wallets
• Hacker drains $43M from CoinEx's hot wallets
• BANANA crashes 99% within hours of launching

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