Curve's Cinematic Heist Deal & Richard's Billion-Dollar Oopsie 🍿
Hey there, crypto-folk! This week, Curve is channeling their inner Hollywood, offering hackers a piece of the action. Imagine Ocean's 11, but in reverse, and probably straight to DVD. And guess who’s having a not-so-heartwarming rendezvous with the SEC? It’s none other than Richard ‘Heart’ Schueler. Apparently, his 'key to unimaginable wealth' got a bit jammed.
Curve's Crazy Crypto Bribe: 'Give Back Our Money and We'll Give You a Cut'
Alright, grab your popcorn folks. This one's a real zinger. Curve Finance has come up with a bonkers scheme to get back the $62 million in crypto that got swiped from them, Metronome, and Alchemix during a hack. Their genius plan? They've offered the hackers a cool 10% cut if they return the booty. It's like the plot of a bad heist movie.
The deadline for the CRV/ETH exploiter passes
— Curve Finance (@CurveFinance)
Aug 6, 2023
Here's the kicker - they even sent a message to the hacker's Ethereum address saying, "You will have no risk of us pursuing this further, no risk of law enforcement issues, etc." But they've given the baddies a deadline till August 6 at 0800 UTC after which, it's gloves-off and they'll start a manhunt. They've got some balls, I'll give 'em that.
This move puts Curve on the same path as Euler - another DeFi protocol that got their lunch money stolen but managed to negotiate its return. Let's see if these hackers have a change of heart or if they tell Curve to go take a hike. (Read more: https://finance.yahoo.com/news/news/curve-offers-hackers-10-bounty-194553809.html)
Richard Heart, Hex, PulseChain Get Slapped with Lawsuit from U.S. SEC – Unregistered Securities and Fraud Allegations Galore
Well, well, well, Richard Schueler (aka Richard Heart) seems to have landed himself in a bit of a pickle. Our buddies over at the U.S. Securities and Exchange Commission (SEC) have slapped him and his crypto projects, namely Hex, PulseChain, and PulseX, with a hefty lawsuit.
The SEC alleges that our friend Heart raised over $1 billion across three different unregistered securities offerings starting in 2019. Oh, and did I mention the fraud allegations? Yeah, apparently, Heart was using investor funds to buy himself some fancy shit.
A million dollars of #Lamborghini#gucci#bulgari#rolex
— Richard Heart (@RichardHeartWin)
Jul 21, 2022
Now, it wouldn't be a crypto story without some wild promises, right? According to the lawsuit, Heart was hyping up his investments as the key to unimaginable wealth. He claimed that Hex was "built to be the highest appreciating asset that has ever existed in the history of man." But things didn't quite go as planned.
PulseX and PulseChain launched earlier this month and let's just say they didn't have the smoothest ride. High fees, liquidity issues, and bugs all over the place, plus the value of the HEX, PLS, and PLSX tokens took a nosedive post-launch. The SEC ain't too happy about this and have charged Heart with fraud and securities registration violations. Buckle up, folks, this is going to be one hell of a ride. (Read more: https://finance.yahoo.com/news/news/u-sec-sues-richard-heart-144446851.html)
What did you think of this weeks edition?