hinkal will fully compensate users for their funds, confirming that approximately 797,000 USDC was withdrawn by attackers and exchanged for 454 ETH.
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The South African Revenue Office has released tax guidelines for crypto assets, potentially subjecting approximately 6 million users to audits.
Odaily Odaily that the South African Revenue and Taxation Office (SARS) released a draft guidance on cryptocurrency taxation on July 1, 2026, proposing compliance rules for approximately 5.8 million to 6 million cryptocurrency users in South Africa, with a public comment period open until August 31, 2026. Under the updated framework, crypto assets are classified as intangible assets, not foreign or traditional currencies, and taxpayers are not required to pay tax on unrealized gains or losses while simply holding the assets. Tax obligations are triggered upon disposal of the assets. If an individual's crypto activity is deemed similar to business activities or short-term day trading, profits will be classified as gross income and taxed at marginal rates ranging from 18% to 45%. If crypto assets are held as long-term investments, capital gains tax will be levied on disposal gains, with an effective individual tax rate ranging from 18% to 36%. The draft also treats the exchange of crypto assets as a barter transaction, with tax consequences arising immediately at the local market value at the time of exchange. SARS announced the deployment of a Crypto Revenue Augmentation Unit to track and audit digital wallets, and urged taxpayers who had previously failed to disclose crypto earnings to complete their filings through a voluntary disclosure program to avoid administrative penalties from increased enforcement after the August deadline. (Bitcoin.com News)
Since October of last year, hedge funds have once again concentrated their buying on technology stocks.
According to a chart posted on X by financial analysis website Barchart, based on Odaily of America data, hedge funds' purchases of technology stocks last week reached their highest level since October of last year.
Security experts indicate that approximately $22 million in illicit funds flowed into HitBTC in 2026, and the platform repeatedly refused to cooperate with the investigation.
According to ChainCatcher, Darcy, co-founder of FlashRescue, disclosed that approximately $22 million in illicit funds flowed into the cryptocurrency exchange HitBTC in 2026. He pointed out that HitBTC refused to cooperate with police investigations on two separate occasions, a practice consistent with the platform's actions, as reported by several on-chain investigators. He mentioned that in the Bybit theft case, as much as $3.68 million from a money laundering network linked to DPRK (North Korea) flowed into HitBTC, but the platform again failed to cooperate with the relevant authorities in subsequent investigations.
SK Hynix is considering paying investment banks approximately 0.5% of the total funds raised in its ADR offering as underwriting fees.
According to a Bloomberg report citing sources familiar with the matter, SK Hynix Inc. is considering paying underwriting fees of approximately 0.5% of the total funds raised to investment banks involved in its US IPO. This deal is expected to be one of the largest stock offerings in history. The sources indicated that while SK Hynix has stated its intention to issue new shares representing up to 2.5% of the company's total share capital, the final offering size has not yet been determined, which will directly impact the underwriting fees received by the investment banks. In addition, SK Hynix may also pay additional discretionary bonuses to the participating investment banks on top of the base underwriting fees. The sources stated that discussions are ongoing, and the details of the final agreement are still subject to change. Click the original link below to join the Beating · Feishu AI news channel for 24/7 monitoring of global AI hot topics and news.
Bank of America: US equity funds experienced their largest weekly outflow since March, and "sell signals" have persisted for six weeks.
According to BlockBeats, Bank of America's latest weekly report, released on July 3, showed that US equity funds experienced a net outflow of $17.2 billion in the week ending July 1, marking the largest weekly net redemption since March 2026 and the second consecutive week of net outflows. Meanwhile, the Bank of America Bull/Bear Indicator rose from 9.1 to 9.5, remaining in the "extremely bullish" zone. Michael Hartnett, Bank of America's chief investment strategist, stated that the "sell signal" triggered by the indicator on May 20 remains in effect. Bank of America data shows that since 2002, the indicator has triggered "sell signals" 17 times, with global stock markets subsequently experiencing an average decline of 2% to 3% over the following 2 to 3 months, resulting in an accuracy rate of approximately 60% and a historical maximum drawdown of 15% to 20%. In terms of fund flows, investment-grade bonds attracted $17.2 billion in inflows this week, marking the 13th consecutive week of net inflows; high-yield bonds saw inflows of $3.4 billion, the largest weekly inflow since May 2025. Technology funds saw inflows of $14.3 billion this week, with year-to-date inflows potentially reaching a record $152 billion. Meanwhile, Japanese equity funds attracted $1.9 billion this week, the largest weekly inflow in nearly seven weeks. Amid outflows from US stocks, the semiconductor sector faced significant pressure, with the Philadelphia Semiconductor Index falling 11% over the past two trading days. JPMorgan strategists pointed out that the extreme overperformance of US semiconductor stocks relative to AI and hyperscale cloud computing companies has created an unsustainable valuation gap, which is expected to eventually narrow. Commodities and gold continued to be under pressure, with gold seeing outflows of $3 billion this week, marking the 7th consecutive week of outflows; cryptocurrencies saw outflows of $2 billion, the largest weekly outflow since November 2025.
Gate launches four phases of exclusive gifts for new users of instant redemption and instant redemption fixed investment benefits.
According to ChainCatcher, Gate is launching a special offer for new users of its Instant Exchange service from 16:00 on July 2nd to 16:00 on July 9th (UTC+8). During the event, new users who complete their first Instant Exchange will be eligible for multiple rewards: a single exchange of 1 USDT or more will grant a 100% chance to win a blind box, with a maximum prize of 888 USDT; a first exchange of 200 USDT or more will also grant an additional 2 USDT cash reward and one blind box draw chance; and a cumulative Instant Exchange transaction volume of 1,000 USDT will earn a 20 USDT cash reward. The total prize pool is 60,000 USDT, and rewards are distributed on a first-come, first-served basis. In addition, Gate is launching a four-phase Instant Exchange and Dollar-Cost Averaging (DCA) promotion from 16:00 on July 3rd to 16:00 on July 17th (UTC+8), with individuals eligible for rewards up to 1,300 USDT. During the promotion period, new users who complete their first Instant Exchange and create their first DCA strategy and successfully complete the deduction can receive up to 300 USDT in dual-currency investment experience funds. Users who complete Instant Exchange and DCA check-ins for 3 and 7 consecutive days can receive 300 USDT and 600 USDT in dual-currency investment experience funds respectively. Furthermore, users whose cumulative DCA trading volume reaches 100 USDT or whose cumulative Instant Exchange trading volume reaches 500 USDT can share two 10,000 USDT reward pools based on their trading volume percentage, with individuals eligible for up to 400 USDT in dual-currency investment experience funds.