Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From CoinDCX's unfortunate $44M hack and NFTs making their triumphant comeback to Ethereum's November upgrade plans and AI revolutionizing education, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets!

INTEL BRIEF

🟧 Indian crypto exchange CoinDCX got hit by hackers who drained $44 million through a sophisticated server breach, though customer funds remained safe.

🟧 NFT markets are exploding back to life with CryptoPunks and Pudgy Penguins leading a massive weekend "sweep" that saw blue-chip collections surge 15%+ in a single day.

🟧 Ethereum's Fusaka upgrade is locked and loaded for November with major efficiency improvements, while validators are rallying behind a "pump the gas" campaign to boost network throughput.

🟧 AI and blockchain are tag-teaming to revolutionize education by creating tamper-proof credentials and AI-powered course content that's making traditional accreditation systems sweat.

CoinDCX Loses $44M to Hackers While Customer Funds Stay Safe

Indian exchange CoinDCX just became the latest victim in what's becoming crypto's most expensive recurring nightmare. On Friday, some very determined digital bandits managed to waltz away with a cool $44 million after pulling off what CEO Sumit Gupta called a "sophisticated server breach."

Now before you start panic-selling your portfolio, here's the silver lining that'll make you sleep better tonight: zero user funds were touched. That's right, your precious satoshis are still safely tucked away in their digital blankets!

The hackers reportedly compromised an internal liquidity account that CoinDCX used for trading with other exchanges. Think of it like robbing the bank's petty cash drawer instead of breaking into the safety deposit boxes. CEO Gupta was quick to reassure users that their operational accounts are completely segregated from customer wallets, meaning this financial oopsie is coming straight out of CoinDCX's own treasury reserves.

Our favorite blockchain detective ZachXBT did some digital forensics and discovered the attacker's wallet was initially funded with 1 ETH from the infamous Tornado Cash mixer (because apparently even cybercriminals like their privacy). The stolen loot then took a scenic route from Solana to Ethereum – probably just to confuse the trail and show off their cross-chain skills.

This hack happened exactly one year after fellow Indian exchange WazirX got absolutely demolished for $235 million.

CoinDCX lost $44M to sophisticated hackers via server breach

Customer funds remain 100% safe – only internal liquidity account was hit

Exact same date WazirX got rekt for $235M last year (crypto has a dark sense of humor)

NFTs Are Having Their We're So Back Moment And It's Glorious

The NFT market just woke up from its multi-year hibernation and decided to absolutely go off!

Over the weekend, we witnessed what can only be described as a blistering NFT feeding frenzy that had crypto Twitter losing its collective mind. The blue-chip collections went absolutely bonkers, with CryptoPunks – those pixelated legends we all secretly still love – spiking 15.9% from 40.9 ETH to a whopping 47.50 ETH (that's over $179,000 for a bunch of pixels, but who's counting?).

Those adorable Pudgy Penguins waddled their way up 15% to 16.60 ETH ($62,597), proving that sometimes being cute and chubby really does pay off. Meanwhile, 100 new holders decided Sunday was the perfect day for some penguin adoption.

The broader NFT market cap just yeeted itself up 21.2% in 24 hours to over $6.34 billion, while daily sales volume went absolutely nuclear with a 303% surge to $38.7 million.

The "You The Real MVP" collection clearly took the name literally and flexed with a mind-melting 1,280% gain. At this point, even the blockchain is probably questioning reality.

Someone bought a floor mutant and "immediately changed their bio to full-time Web3 adviser/consultant." If that's not peak bull market behavior, I don't know what is! Even Beeple dropped a commemorative artwork called "Big Sweep" because apparently everyone's feeling nostalgic about $69 million JPEG days.

CryptoPunks and Pudgy Penguins surged 15%+ in single-day buying frenzy

Total NFT market cap jumped 21.2% to $6.34B with 303% volume spike

Crypto Twitter convinced "we're so back" after years of NFT winter blues

Ethereum Prepares November Fusaka Upgrade as Validators Push Gas Limits Higher

The Fusaka upgrade is packing some serious heat with 11 Ethereum improvement proposals ready to make the network more resilient against attacks while boosting scalability. Think of it as Ethereum's winter fitness routine. The next devnet goes live Wednesday, with public testnets rolling out in September and October.

Core developers are already eyeballing the next upgrade called "Glamsterdam.” The feature lineup gets locked in on August 1st, and rumor has it they're considering cutting block times in half from 12 to 6 seconds.

Meanwhile, Ethereum validators are having their own grass-roots revolution with the delightfully named "pump the gas" campaign. Nearly 50% of staked ETH is now voting to crank the gas limit up to 45 million, and it's actually working! The current limit just jumped over 37.3 million – the first major increase since February.

Transaction throughput hit 18 TPS over the weekend (up from 15), daily transactions surged from 1.1M to 1.4M, and ETH price decided to join the party with a whopping 54% monthly gain, briefly kissing $3,800 on Sunday!

Fusaka hard fork dropping in November with 11 major improvements for efficiency and security

"Pump the gas" campaign working – 47% of validators backing 45M gas limit increase

Network throughput up to 18 TPS while ETH price rockets 54% in a month

AI and Blockchain Team Up to Replace Traditional Education Systems

The education world is getting a serious tech makeover thanks to AI and blockchain working together like the ultimate study buddy duo. John von Seggern, founder of the aptly named Futureproof Music School, is already living in 2030 by using AI assistants to structure courses and planning to roll out blockchain-based credentials for his electronic music production students.

Von Seggern got up close and personal with traditional accreditation processes and, spoiler alert, wasn't impressed with what he saw. Can't blame him – getting official credentials traditionally involves more red tape than a government office!

The Organization for Economic Co-operation and Development (OECD) is basically giving blockchain credentials a massive endorsement, stating that the tech "enables anyone to validate claims about an individual or institution... instantly and with a very high level of certainty."

Open Campus launched EDU Chain in January – a layer-3 blockchain specifically designed to store tamper-proof, immutable student credentials. Meanwhile, Binance's CZ is dreaming big with Giggle Academy, aiming to teach 1 billion kids through a free platform powered by generative AI course content.

This borderless, verifiable education revolution means students can get quality courses at affordable prices without worrying about whether their certificates will be recognized across different countries and institutions.

AI-powered course content + blockchain credentials = tamper-proof, instantly verifiable education

Traditional accreditation systems struggling as blockchain offers borderless verification

Major players like Binance's CZ targeting 1 billion students with AI-generated educational content

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From exchange security reminders to NFT market revivals, Ethereum's scaling solutions, and the future of blockchain education - it's been quite the journey! Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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