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Penpie DeFi Platform Reportedly Hit With $27 Million Security Breach

Decentralized Finance (DeFi) platform Penpie, built on the Pendle network, reportedly suffered a major exploit on September 3, 2024. According to the real-time on-chain monitoring system Cyvers Alert, the hack led to the loss of at least $26 million in various wrapped and synthetic crypto assets. Details of the Attack Emerge The security surveillance company stated that the attack on Penpie was initiated by a smart contract that had been initially funded to the tune of 10...

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FBI Warns Cryptocurrency Firms of North Korean Social Engineering Attacks

The FBI has warned about North Korean hackers targeting employees of cryptocurrency and decentralized finance (DeFi) companies. In a public service announcement (PSA) released on Tuesday, the FBI detailed how these state-sponsored attackers use advanced social engineering tactics to infiltrate organizations and steal cryptocurrency. Recognizing this danger is crucial, as the FBI stated that North Korean actors utilize diverse approaches targeting particular DeFi and cryptocurrency...

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Donald Trump Relatives’ X Accounts Hacked to Promote Fake Crypto Token

The X accounts of Lara Trump and Tiffany Trump were reportedly hacked Tuesday evening, resulting in fraudulent messages posted to promote a fake cryptocurrency token. The compromised accounts were used to falsely endorse a token allegedly linked to World Liberty Financial, a new crypto project recently promoted by members of the Trump family. Details of the Hack The hackers revealed a specific blockchain address and token, urging followers to invest in what they claimed was...

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Matter Labs Shrinks Workforce by 16% as Zksync Shifts Its Strategy

Matter Labs reduces its workforce by 16% in response to market and business changes. The company promotes decentralization and operational efficiency. Matter Labs, the key developer of Ethereum’s layer 2 scaling technology ZKsync, is laying off 24 employees, or 16% of its staff. This is the first time the organization has had to make such reductions since it was founded in 2018. Restructuring to Meet Evolving Needs The employment reduction is part of a larger organizational reform aimed at...

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Ripple’s CEO Announces Upcoming Launch of RLUSD Stablecoin

During a recent fireside chat at the Korea Blockchain Week in Seoul, Brad Garlinghouse, CEO of Ripple, provided significant updates on the company’s upcoming initiatives. Garlinghouse revealed that Ripple is nearing the launch of its U.S. dollar-pegged stablecoin, known as Ripple USD (RLUSD). The stablecoin is still in private closed beta, though its public release is expected in weeks, not months. This comes after Ripple announced last month that it had begun experimenting with RLUSD across...

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