What happened in the crypto industry last week (September 16 - 22)?

1/ BingX Crypto Exchange Hacked: On September 20, BingX was hacked, initially with a $13.6 million suspicious transaction, later revised to $43.2 million. The Product Director confirmed the hack, stating losses were minimal.
https://x.com/PeckShieldAlert/status/1836977299746381854
https://x.com/peckshield/status/1836927530449916132
https://etherscan.io/address/0xf7e8033366166f92eb477b7b38e0d47d47b43326
https://x.com/Vivien_BingX/status/1836940851873992845

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2/ Texas Court Dismisses Consensys Lawsuit Against SEC: On September 19, a Texas court dismissed Consensys’ lawsuit against the SEC. MetaMask developer filed the lawsuit in April 2024 to protect Ethereum from excessive SEC regulation.

2/ Texas Court Dismisses Consensys Lawsuit Against SEC: On September 19, a Texas court dismissed Consensys’ lawsuit against the SEC. MetaMask developer filed the lawsuit in April 2024 to protect Ethereum from excessive SEC regulation.
https://x.com/Consensys/status/1836882745630544015
https://x.com/Consensys/status/1783562212667453837

3/ Prager Metis Settles with SEC: Prager Metis agreed to pay a total fine of $1.95 million to the SEC for multiple business conduct violations, including $745,000 to end the case regarding negligent auditing of FTX.

3/ Prager Metis Settles with SEC: Prager Metis agreed to pay a total fine of $1.95 million to the SEC for multiple business conduct violations, including $745,000 to end the case regarding negligent auditing of FTX.
https://www.sec.gov/newsroom/press-releases/2024-133

4/ Federal Reserve Cuts Interest Rates: On September 18, the Federal Reserve cut interest rates by 50 basis points for the first time since 2020, now at 5%.

4/ Federal Reserve Cuts Interest Rates: On September 18, the Federal Reserve cut interest rates by 50 basis points for the first time since 2020, now at 5%.
https://tradingeconomics.com/united-states/interest-rate

5/ Terraform Labs Liquidation Approved: The court approved the liquidation of Terraform Labs after dismissing investor complaints. The company had agreed to pay a $4.47 billion fine in a SEC lawsuit.

5/ Terraform Labs Liquidation Approved: The court approved the liquidation of Terraform Labs after dismissing investor complaints. The company had agreed to pay a $4.47 billion fine in a SEC lawsuit.
https://www.law360.com/fintech/articles/1880428/terraform-gets-ok-for-ch-11-liquidation-plan
https://www.pacermonitor.com/public/case/47830587/Securities_and_Exchange_Commission_v_Terraform_Labs_Pte_Ltd_et_al

6/ Flyfish Club Settles with SEC: Flyfish Club agreed to pay a $750,000 civil fine to the SEC for unregistered offering of crypto asset securities through approximately 1,600 NFTs sold between August 2021 and May 2022.

6/ Flyfish Club Settles with SEC: Flyfish Club agreed to pay a $750,000 civil fine to the SEC for unregistered offering of crypto asset securities through approximately 1,600 NFTs sold between August 2021 and May 2022.
https://www.sec.gov/enforcement-litigation/administrative-proceedings/33-11305-s

7/ Rari Capital Settles with SEC: DeFi platform Rari Capital and three founders settled SEC charges for defrauding investors and unlicensed brokerage, involving repayment of profits, civil fines, and a five-year ban on similar activities.

7/ Rari Capital Settles with SEC: DeFi platform Rari Capital and three founders settled SEC charges for defrauding investors and unlicensed brokerage, involving repayment of profits, civil fines, and a five-year ban on similar activities.
https://www.sec.gov/newsroom/press-releases/2024-138

8/ California Court Convicts NY Resident in Crypto Fraud: A New York resident was convicted of fraud involving currencies and digital assets, ordered to pay over $30 million in compensation. The man admitted to document forgery and misuse of client funds.

8/ California Court Convicts NY Resident in Crypto Fraud: A New York resident was convicted of fraud involving currencies and digital assets, ordered to pay over $30 million in compensation. The man admitted to document forgery and misuse of client funds.
https://www.cftc.gov/PressRoom/PressReleases/8970-24

9/ Germany Shuts Down 47 Crypto Exchanges: German authorities closed 47 crypto exchanges used for criminal purposes, including fiat-to-crypto services. The full list is available at https://www.finalexchange.de/en.
https://www.bka.de/DE/Presse/Listenseite_Pressemitteilungen/2024/Presse2024/240919_PM_finalexchange.html
https://www.finalexchange.de/en