Vee Finance, a decentralized finance platform, has officially confirmed its hack on Avalanche. On September 20, the hacker managed to transfer funds worth $35 million. In terms of assets, it was 8804.7 ETH (around $26 million) and 213.93 BTC (around $9 million). According to the report, the stablecoin was left untouched. As for the hacker, the report confirms that they have not yet transferred or processed the funds. The team is working to provide more details of the incident. Further,…
Recently, Binance Academy announced the development of a blockchain research institute in China. Binance Academy is the educational arm of Binance crypto exchange. The blockchain research institute is known as Lingang Blockchain Technology and Industry Research Institute, which will serve as the hub for blockchain talent.
Lingang Blockchain Research institute will shape breakthroughs in blockchain technology and speed up the application of blockchain technology. It will happen through integrations with artificial intelligence (AI), big data, Internet of Things (IoT), and other innovative tools.
Helen Hai, the leader of this initiative, said that the blockchain revolution would affect how people live and relate. She believes that technology should work for people, and lift humanity into a new collective and moral consciousness based sense of shared destiny. She added that the purpose of establishing the research institute is to build a leading think-tank and research hub, contributing to mass developments in blockchain technology, to enhance the growth of the industry.
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The announcement stated that Don Tapscott would be acting as Honorary Dean of the Lingang Blockchain Academy under the Research Institute. Currently, Tapscott is the Executive Chairman of the Blockchain Research Institute and a leading authority on the impact of technology on business and society.
Tapscott believes that blockchain represents the second era of the internet and can help the world build more innovative and product organisations. He affirms that research, education, and skill development are essential in transformation; hence they look forward to partnering with Lingang Blockchain Academy, to achieve this in China.
The Lingang Research Initiative, just like other Binance initiatives, such as Binance Labs, contribute to reshaping the blockchain industry.