Several icons of the crypto world turned out to be rotten eggs in 2022. But there's more.
What exactly happened with Terra ecosystem’s algorithmic stablecoin, UST, is still a mystery. But regulators and Do Kwon critics have been quick to dismiss it as a case of market manipulation.
Nevertheless, the contagion spread throughout the market like wildfire, which leads us to the next point.What was one of the industry’s largest hedge funds turned out to be a firm operating with particularly lenient risk management, having been overexposed on multiple fronts.into liquidation by a British Virgin Islands court in June.
His hubris showed no end, yet as the saying goes, if it sounds too good to be true, it probably is. Celsius, as reported, filed for Chapter 11 bankruptcy protection after acknowledging a $1.2 billion hole in its balance sheet. A separate lawsuit now accuses Celsius of “operating a “Ponzi scheme.”Several different forms of crypto scams proliferated this year. But crypto game
At its peak, Axie Infinity was huge, boasting 2.7 million daily active users and over 200 million in weekly trading volume for its in-game NFTs in November last year.Mango Markets attacker Avraham “Avi” Eisenberg drained the Solana-based trading and lending market’s liquidity pools.
Always seen as an enemy by law enforcement agencies, Tornado Cash was believed to be heavily relied on by North Korean state hackers who were behind the $625 million heist from the Ronin Bridge as well as $100 million from the Horizon Bridge. Shortly thereafter, a 29-year-old developer of Tornado Cash wasLaw firm Roche Freedman is notorious for bringing class action suits against some of the most popular crypto firms.
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