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Hey Waivly Crew! 🌊 A hacker has stolen over $600M from Ronin Network, making it the largest reported crypto hack to date. Nvidia has released its new ‘ferocious GPU,’ the GeForce RTX 3090 Ti.

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Ronin Network exploited for over $600M

Ronin, the Ethereum side chain developed to power the leading blockchain game, Axie Infinity, has been exploited for $625M.

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According to a blog post published by Ronin Network, Sky Mavis’ Ronin validator nodes and Axie DAO validator nodes got compromised on March 23rd. Notably, the breach went undiscovered until Tuesday after a user was unable to withdraw 5,000 ETH.

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This led to hacked private keys being used to forge fake withdrawals on the network, allowing the hacker to successfully steal a total of 173,600 ether and 25.5 million USDC, valued at around $625 million at the time of writing.

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“Sky Mavis’ Ronin chain currently consists of 9 validator nodes. In order to recognize a Deposit event or a Withdrawal event, five out of the nine validator signatures are needed,” the blog post said. “The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO.”

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Since then, the hacker has transferred 6,250 ETH ($21M) and all 25.5 million USDC to various wallets and DeFi protocols, as shown on Etherscan. If you were affected by the exploit, Ronin’s developers have promised that all stolen will be reimbursed.

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"We are currently 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," Ronin tweeted.

Vietnam to build legal framework for crypto

Vietnam’s Deputy Prime Minister Le Minh Khai has instructed agencies in the country to build a legal framework for the digital asset market.

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The deputy prime minister has instructed the Ministry of Finance to assume the prime responsibility for developing a legal framework for the crypto market. The ministry will identify specific legal documents that need to be amended or supplemented to regulate the crypto market.

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According to a recent report from local news outlet Vietnamnet, the project will specifically identify “the nature of virtual assets, electronic money, and virtual money according to foreign experience and Vietnamese practice; the relationship with real assets, real money; and the role of virtual assets, electronic money, virtual money and the impact of virtual assets, electronic money, virtual money on the law.”

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This comes after Vietnam's central bank banned the use of Bitcoin and other cryptocurrencies as means of payment in 2017. The framework will be created in accordance with Decision 1255, issued by the Vietnamese prime minister in August 2017, approving a plan to develop a legal framework for “virtual assets, digital currencies, and virtual currencies.”

The Waves

⚽ Messi signs $20M deal to promote crypto firm Socios

🚀 MicroStrategy plans to buy even more Bitcoin

👀 OpenSea to integrate Solana NFTs

💻 Opera integrates Bitcoin and 7 other blockchains

Tech Special

Nvidia launches GeForce RTX 3090 Ti

Nvidia has finally launched its GeForce RTX 3090 Ti GPU, but don’t expect to find it at an affordable price any soon.

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The new flagship GPU is now available at a starting rate of $1,999, $500 more than the base RTX 3090. The price difference might be worth it as the GPU is 10% faster at 4K and sustains a 2GHz boost clock. With a full GA102 GPU spec of 10752 CUDA cores, the 3090 Ti offers 43 TFLOP of single-precision compute power.

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Additionally, the RTX 3090 Ti might be perfect for creators, as it comes with a full 84 Streaming Multiprocessors enabled, higher clock speeds (1.67GHz base and 1.86GHz boost), and 24GB of second-generation, higher-clocked GDDR6X memory with a higher 21Gbps of bandwidth.

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Unless you’re trying to play games in 8K or stream, the RTX 3090 TI is best for the "most ambitious users." For example, video editors working with large files or developers working with GPU intensive 3D rendering applications like Blender.

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According to Nvidia, the RTX 3090 Ti offers a 42 percent to 102 percent performance boost over the RTX 2080 Ti and Titan RTX for rendering applications like Blender, Maya, and Cinema4D.

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Meta implements new shortcuts to Messenger

The parent company of Facebook has recently announced that they are introducing a new shortcut to Messenger that will allow users to send messages silently.

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The new shortcut is now available to all Messenger users. According to a blog post from Meta, the @/everyone will notify everyone in a group chat, whereas the /silent command will send a message to a chat without notifying the message receiver.

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Meta will be implementing more command shortcuts in Messenger in the coming weeks such as /pay which will allow users to send or request money in Messenger. There will also be a /gif command which will allow users to send gifs of any topic they want in the chat by typing the command in the chatbox with a topic or object a user wants to send.

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Besides having a gif shortcut, Messenger will have a shortcut command for classic emoticons that will allow users to send emoticons to their friends and family members without typing them out themselves. These new shortcut commands on Messenger will soon be available for both iOS and Android.

Own and secure your crypto with Ledger

If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.

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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

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The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.

Share The Wave

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