A South Korean crypto entrepreneur, accused of stealing $826 million from crypto investors, was stabbed in the neck by an alleged victim during a court hearing. The Telegram Open Network has been pushed offline, with a new memecoin blamed for the outage. Meanwhile, Ethereum co-founder Vitalik Buterin disclosed the Ethereum Foundation’s 2023 expenditures.
South Korean crypto CEO stabbed in court during Haru Invest fraud trial
Hugo Hyungsoo Lee, the CEO of Haru Invest, a South Korean crypto-earning company, was stabbed in the neck multiple times during a court proceeding in Seoul.
Lee and two other executives of Haru Invest were accused of stealing $826 million in cryptocurrency from around 16,000 users, according to the local media outlet Digital Asset.
During a related hearing, Lee was attacked in the courtroom by one of the victims of Haru Invest, who was identified as a man in his 40s by local media outlet Digital Asset.
The investor-turned-attacker suddenly sprang up from the guest seat and stabbed Lee in the neck with a small knife, who was then immediately rushed to the hospital.
TON outage halts new block production for hours
The Telegram Open Network (TON) stopped validating new transactions and had not made a new block in more than six hours starting late on Aug. 27.
In an Aug. 28 post to X, the TON community platform Tonk Inu alerted that the network was down, pinning the blame on a frenzy of market hype over the Aug. 27 launched memecoin, DOGS.
At the time of writing, over six hours had elapsed since the last transaction on TON was sent on Aug. 27 at 10:11 pm UTC, according to TON network tracker Tonscan.
The TON network has not seen a transaction or block created for hours. Source: Tonscan
DOGS saw $1.7 billion in trading volume within the first ten hours of launch and reached a peak market capitalization of $891 million.
The network’s native token, Toncoin (TON), has sunk 1.5% in the last 24 hours to $5.30.
Vitalik Buterin breaks down Ethereum Foundation expenditures
Buterin has disclosed the Ethereum Foundation’s 2023 expenditures amid criticisms from the community about how the foundation allocates capital.
In an Aug. 27 social media post, Buterin said spending on “new institutions,” or organizations that bolster the Ethereum network, accounted for 36.5% of total foundation expenditures. This was followed by layer-1 research and development (24.9%), community development (12.7%) and applied zero-knowledge work (10.4%).
The foundation also allocated 7.7% of its expenditure budget to internal operations and 6.5% to developer platforms.
Breakdown of Ethereum Foundation 2023 expenditures. Source: Vitalik Buterin
Buterin has also responded to criticism about the Ethereum Foundation’s apparent lack of interest in decentralized finance. Long-term DeFi developer Kain Warwick claimed the foundation was “anti-DeFi.” Buterin denied the claims, saying he’s still committed to the DeFi sector but not to short-term projects with unworkable use cases.
A South Korean crypto entrepreneur, accused of stealing $826 million from crypto investors, was stabbed in the neck by an alleged victim during a court hearing. The Telegram Open Network has been pushed offline, with a new memecoin blamed for the outage. Meanwhile, Ethereum co-founder Vitalik Buterin disclosed the Ethereum Foundation’s 2023 expenditures.
South Korean crypto CEO stabbed in court during Haru Invest fraud trial
Hugo Hyungsoo Lee, the CEO of Haru Invest, a South Korean crypto-earning company, was stabbed in the neck multiple times during a court proceeding in Seoul.
Lee and two other executives of Haru Invest were accused of stealing $826 million in cryptocurrency from around 16,000 users, according to the local media outlet Digital Asset.
During a related hearing, Lee was attacked in the courtroom by one of the victims of Haru Invest, who was identified as a man in his 40s by local media outlet Digital Asset.
The investor-turned-attacker suddenly sprang up from the guest seat and stabbed Lee in the neck with a small knife, who was then immediately rushed to the hospital.
TON outage halts new block production for hours
The Telegram Open Network (TON) stopped validating new transactions and had not made a new block in more than six hours starting late on Aug. 27.
In an Aug. 28 post to X, the TON community platform Tonk Inu alerted that the network was down, pinning the blame on a frenzy of market hype over the Aug. 27 launched memecoin, DOGS.
At the time of writing, over six hours had elapsed since the last transaction on TON was sent on Aug. 27 at 10:11 pm UTC, according to TON network tracker Tonscan.
The TON network has not seen a transaction or block created for hours. Source: Tonscan
DOGS saw $1.7 billion in trading volume within the first ten hours of launch and reached a peak market capitalization of $891 million.
The network’s native token, Toncoin (TON), has sunk 1.5% in the last 24 hours to $5.30.
Vitalik Buterin breaks down Ethereum Foundation expenditures
Buterin has disclosed the Ethereum Foundation’s 2023 expenditures amid criticisms from the community about how the foundation allocates capital.
In an Aug. 27 social media post, Buterin said spending on “new institutions,” or organizations that bolster the Ethereum network, accounted for 36.5% of total foundation expenditures. This was followed by layer-1 research and development (24.9%), community development (12.7%) and applied zero-knowledge work (10.4%).
The foundation also allocated 7.7% of its expenditure budget to internal operations and 6.5% to developer platforms.
Breakdown of Ethereum Foundation 2023 expenditures. Source: Vitalik Buterin
Buterin has also responded to criticism about the Ethereum Foundation’s apparent lack of interest in decentralized finance. Long-term DeFi developer Kain Warwick claimed the foundation was “anti-DeFi.” Buterin denied the claims, saying he’s still committed to the DeFi sector but not to short-term projects with unworkable use cases.
