The Daily: OpenSea's Wells Notice, TON blockchain's outage, Hamster Kombat's token airdrop and more

Happy Wednesday! In today's newsletter, OpenSea receives a Wells Notice from the SEC, TON blockchain suffers a six-hour outage, Sony launches a testnet for its Ethereum Layer 2 and more.

Let's get started.

OpenSea receives a Wells Notice from the SEC

OpenSea CEO Devin Finzer announced on Wednesday that the NFT marketplace has received a Wells Notice from the Securities and Exchange Commission.

• The Wells Notice indicates that the SEC may soon file an enforcement action against OpenSea.
• "OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities," Finzer posted on X.
• "We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight," he added.
• Finzer argued it was a move into "unchartered territory" that could "stifle innovation" and "harm thousands" of NFT artists who may not have the resources to defend themselves.
• OpenSea also pledged $5 million to assist NFT creators and developers with legal defense against potential SEC actions.
• The agency has previously settled cases with podcast studio Impact Theory and television show Stoner Cats, alleging unregistered offerings of securities through sales of NFTs.

TON blockchain suffers six-hour outage

The Open Network (TON) experienced a six-hour outage due to an abnormal load that caused a consensus loss among validators, the project confirmed.

• The outage prompted exchanges like Binance and Bybit to suspend deposits and withdrawals temporarily to and from TON blockchain.
• The DOGS memecoin airdrop reportedly sparked the surge in transactions, overloading the network and contributing to the disruption.
• TON blockchain has since resumed block production, with validators restarting their nodes to return the network to its normal state.

Sony launches Soneium Layer 2 testnet

Sony's blockchain division, Sony Block Solutions Labs, has launched the public Minato testnet and a developer incubation program for its Soneium network.

• Soneium, an Ethereum Layer 2 built using the OP Stack, aims to create a cost-effective environment for developing consumer-grade applications.
• Soneium is built in collaboration with Astar Network developer Startale Labs, with plans to integrate the ASTR token as a "key asset" on the EVM-compatible Minato testnet.
• Sony subsidiary Quetta Web previously acquired cryptocurrency exchange WhaleFin, which it plans to rebrand and relaunch later this year.

CEO of Korean crypto firm Haru Invest stabbed during court hearing

Hugo Hyungsoo Lee, CEO of the defunct South Korean crypto custody firm Haru Invest, was stabbed in the neck during a court hearing in Seoul on Wednesday and is in critical condition, according to local news reports.

• The Seoul police reportedly arrested a man in his 40s, believed to be an alleged victim of Haru Invest, on charges of attempted murder.
• Haru Invest executives, including the CEO, were on trial for allegedly defrauding around 16,000 investors of over $1 billion.
• Reports suggest the attacker may have used a ceramic knife to bypass court security, which typically relies on metal detectors.

Hamster Kombat token airdrop set for next month

Popular Telegram-based crypto game Hamster Kombat announced that its token airdrop on TON blockchain is now scheduled for Sept. 26, following a delay in its initial token generation event plans for July.

• The game's whitepaper previously revealed that 60% of the token airdrop is allocated to players, with the remainder reserved for market liquidity, ecosystem partnerships, grants and rewards.
• Hamster Kombat has around 50 million daily active users spread over 190 countries, according to the team.

In the next 24 hours

• U.S. GDP and jobless claims figures are released at 8:30 a.m. ET on Thursday.
• U.S. FOMC member Raphael Bostic will speak at 3:30 p.m.
• WebX2024 concludes in Tokyo.

Never miss a beat with  The Block's daily digest  of the most influential events happening across the digital asset ecosystem.