Timehop admits to a big data breach, Xiaomi goes public and Index Ventures raises a lot more money. Here's your Daily Crunch for July 9, 2018.

1. Timehop discloses July 4 data breach affecting 21 million

Timehop says the breach compromised the personal data (names, emails and in some cases phone numbers) of 21 million people — basically, the entire user base. But it also says no social media content, financial data or Timehop data was affected.

Apparently the attacker targeted a Timehop administrator whose account was not protected by multifactor authentication. A spokesperson told us that while Timehop generally uses multifactor protection, "This employee was here for so long, from back when we were just a baby company, so it seems something got overlooked."

2. China's Xiaomi makes underwhelming public debut in Hong Kong IPO

Media reports suggested that eight-year-old Xiaomi was shooting for a valuation of as much as $100 billion. In the end, it had to settle for being valued at a mere $54 billion as it raised $4.7 billion from the IPO.

3. Crypto and venture's biggest names are backing a new distributed ledger project called Oasis Labs

The chief architect of the project (and chief executive of Oasis Labs) is University of Berkeley Professor Dawn Song, who has won both a MacArthur Fellowship and a Guggenheim Award for her work on security technologies.

4. China's largest music streaming business is planning a US IPO

More financial news from China: Tencent Music Entertainment, which is the country's top streaming service, is heading for the U.S. public markets — according to a filing made this weekend by parent company Tencent.

5. Index Ventures closes 2 funds, $1B for growth rounds and $650M for early-stage investing

Index is one of Europe's (and America's) more prominent venture capital firms, backing recent hits like Adyen, Dropbox, iZettle, and Zuora — all of which have now either gone public or, in the case of iZettle, been acquired.

6. 'Ant-Man and the Wasp' director Peyton Reed on following 'Infinity War'

Reed said these the Ant-Man movies have "very different storytelling ambitions" than Marvel's big crossovers. In fact, he's hoping they have "the most personal tone" of all the Marvel films.

7. Podcasts are here to save your Monday

On the past week's TechCrunch podcasts, the team at CTRL+T interviewed Karla Monterroso, CEO of Code2040, which aims to increase the representation of black and brown people in the industry. Meanwhile, Equity covered Lyft's move into bikesharing, as well as Airbnb's IPO preparations.