Matter Labs Cuts 16% of Staff as ZKsync Demand Falls, the SEC Charges Galois Capital over Custody Issues, the WazirX Hacker Moves $6.5 Million in Ether to Tornado Cash and More

Happy Tuesday! In today's newsletter, Matter Labs cuts 16% of staff as ZKsync demand falls, the SEC charges Galois Capital over custody issues, the WazirX hacker moves $6.5 million in ether to Tornado Cash and more.

Happy Tuesday!

In today’s edition: Matter Labs cuts 16% of staff as ZKsync ZK -3.69% demand falls, the SEC charges Galois Capital over custody issues, the WazirX hacker moves $6.5 million in ether to Tornado Cash and more.

Let’s get started.

Matter Labs trims workforce by 16% as demand for ZKsync falls

ZKsync developer Matter Labs cut around 16% of its workforce on Tuesday due to changing market conditions and business needs throughout 2024, according to CEO Alex Gluchowski.

SEC charges and settles with crypto-focused Galois Capital over custody issues

The Securities and Exchange Commission has charged and settled with crypto-focused investment advisory firm Galois Capital over issues related to how it handled client assets.

WazirX hacker moves $6.5 million in ether to Tornado Cash

The WazirX hacker appeared to transfer 2,600 ETH ($6.5 million) to the sanctioned crypto mixer Tornado Cash on Tuesday to launder the funds, according to security firm PeckShield.

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Web3 security firm Hypernative raises $16 million

Hypernative raised $16 million in Series A funding led by another web3 security firm Quantstamp, with the equity-structured round bringing its total fundraising to $27 million, co-founder and CEO Gal Sagie told The Block.

Scottish court seizes bitcoin belonging to ‘brains’ behind machete crypto robbery

A Scottish court seized £110,000 ($144,000) worth of bitcoin from John Ross Rennie, who was convicted as the “technical brains” behind a 2020 assault and crypto robbery, the BBC reported.

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