Tag Archives: defi

DeFi hacks have gone through the roof in recent times and many will argue that the DeFi ecosystem has proven time and again that it is indeed an exploiter’s paradise. Decentralized finance (DeFi) protocol Sturdy Finance is the latest victim in a long list of DeFi hacks. The Sturdy Finance platform has reportedly lost 442 ETH (worth a little above $800,000 as of publication), to a daring security exploit. Blockchain security firm PeckShield was the first to notice what appeared to be a...

Sweat Economy – a fitness-focused decentralized application –  announced the launch of a new governance vote on June 7th in the Sweat Wallet application. The move would enable the community to decide the fate of 2 billion idle SWEAT tokens in inactive user accounts. According to the official press release shared with CryptoPotato, users will be given two options. They can either vote in favor of having the 2 billion idle SWEAT tokens recovered and transferred back to the...

The week started on a grim note following the large-scale theft of digital assets from Atomic Wallet users resulting in a six-figure loss across different chains. Distraught users have taken to Twitter to challenge some of the Atomic Wallet’s claims after the company assured them that it is working with “leading security companies” and has reached out to organizations that can help trace the stolen funds. Largest Victim Lost ~$8M According to pseudonymous on-chain sleuth...

A new report by blockchain security company Beosin revealed that the total amount of crypto assets lost to exit scams and rug pulls was higher than the amount stolen from decentralized finance (DeFi) projects through exploits and attacks last month. Beosin also discovered that losses from the exploits in May were down 79% compared to April, signaling a continued decline for two consecutive months. Losses From Rug Pulls Surpass DeFi Exploits Over $45 million was lost to crypto...

Die Blockchain-Technologie hat in den letzten Jahren grosse Aufmerksamkeit erregt und verschiedene Branchen beeinflusst, darunter auch die Kunstwelt. Mit der Einführung von nicht-fungiblen Tokens (NFTs) und der Idee der Tokenisierung hat die Blockchain das Potenzial, die Art und Weise, wie wir Kunst betrachten, kaufen und verkaufen, grundlegend zu verändern. NFTs sind einzigartige digitale Assets, die auf der Blockchain basieren. Im Gegensatz zu Kryptowährungen wie Bitcoin oder Ethereum, die...

In den letzten Jahren hat DeFi, die Abkürzung für Decentralized Finance, eine bemerkenswerte Entwicklung erlebt und bietet nun eine vielversprechende Möglichkeit, passives Einkommen mit Bitcoin und der Blockchain-Technologie zu generieren. Diese innovative Finanzlösung ermöglicht es Nutzern, auf dezentralen Plattformen verschiedene Dienstleistungen in Anspruch zu nehmen, ohne dabei auf traditionelle, zentralisierte Behörden angewiesen zu sein. Der erste Schritt, um passives Einkommen mit DeFi...

Tenet is a layer-1 network that’s focused predominantly on the expansion of use cases related to liquid staking derivatives (LSDs). According to a press release shared with CryptoPotato, Tenet has forged a partnership with LayerZero aimed at boosting the adoption of LSDs. LayerZero, in turn, is an omnichain interoperability protocol that’s currently valued at over $3 billion. The first stage of the initiative would be to set up a LayerZero endpoint on Tenet. It will enable...

Users of the cross-chain router protocol Multichain have been reportedly experiencing delays in receiving their funds following an upgrade. There have also been rumors about the arrest of the Multichain team, which is yet to be confirmed. MULTI Sinks 24% in 24 Hours Several Multichain users have complained about their funds being stuck in the protocol for as long as 72 hours. Part of the problem seems to stem from a backend upgrade, which the team said is taking longer than...

IOVLabs – a company that develops decentralized blockchain technologies – launched a $2.5 million “strategic grants program” to accelerate the adoption of Rootstock. The latter is a sidechain tied with Bitcoin and designated to enable smart contracts for the ecosystem. ‘Strong Commitment’ to Advance BTC According to a document seen by CryptoPotato, the Argentina-based blockchain entity will use the financing to enhance the development of Bitcoin’s sidechain – Rootstock....

Three top European regulators will get together to discuss the implications of the Data Act and provide more clarity with the goal of not stifling DeFi innovation. As Europe embarks on its journey to bring clear crypto regulations in place, the blockchain industry is making a final push in preventing laws that would crush the smart contracts underpinning the decentralized finance (DeFi) protocols. The lawmakers are currently having negotiations over the Data Act, which will be concluded...