Tag Archives: defi

OpenZeppelin, a security audit company for Coinbase, identified $15B rugpull vulnerabilities in Convex Finance, whose anonymous developers later resolved the risk. The surprising discovery occurred during a security review of the Convex Finance protocol. A Bug Only Exploitable From the Inside The Security Research Team from OpenZeppelin found in late 2021 that a significant bug in the protocol could have led to putting the $15B worth of locked assets at risk. The...

Jamie Dimon – CEO of JP Morgan Chase – showed strong support for decentralized finance and blockchain technology in a recent letter to shareholders. His new take appears to be a 180 from his previous takes on crypto, and more in line with those of his company. Blockchain and Defi are ‘Real’ The letter, issued yesterday, discussed a range of topics such as the geopolitical climate, macroeconomic conditions, the changing competitive landscape, and company investments. When...

DeFi, NFT und Metaverse – an Ethereums Blockchain führt kein Weg dran vorbei. Zwar wachsen die Nutzerzahlen des zweitwichtigsten Krypto-Netzwerks, doch ist Ethereum im Vergleich zur Konkurrenz langsamer und teurer. Mit dem gigantischen Update „ETH 2.0“ könnte sich das bald ändern. Als Ethereum 2013 als dezentrale und programmierbare Software-Plattform an den Start ging, ahnten nur wenige, dass das Netzwerk in nur wenigen Jahren eine der gefragtesten Blockchains im gesamten Krypto-Universum...

In a major push to web3 browsing experience, Opera will now support eight leading blockchain and layer-2 networks, as well as some decentralized apps (dapps). These include Solana, Polygon, StarkEx, Ronin, Celo, Nervos, and IXO.  Opera’s Web3 Push Opera users can access these networks and their various features, including Defi, through Opera’s latest web3 browsing and wallet solutions.  “From now on, users get access to the vast ecosystem of Polygon or Solana dApps or the...

Ronin Network, a critical bridge chain that powers Axie Infinity, was attacked, and this resulted in in a loss of 173,600 Ethereum and 25.5M USDC, equivalent to over $600M. Since the breach occurred on March 23rd, the stolen funds have flowed into FTX, Huobi, and CryptoCom, which have all vowed to take actions to trace the funds. Binance said it had temporarily suspended withdrawals and deposits on the Ronin Network. Sky Mavis, the company behind Axie Infinity, said it would...

Ronin – an EVM blockchain for play-to-earn games – recently fell victim to one of the largest hacks in the history of crypto. A whopping 173,600 ETH was drained from Ronin bridge within the last week, alongside another 25.5M USDC. According to a community alert issued by Ronin, the hack occurred due to Ronin validator nodes and Axie DAO validator nodes being compromised. This led to hacked private keys being used to forge two fake network withdrawals (1 and 2) that absorbed...

Li Finance (LiFi) became the latest victim of cyber-attackers, with nearly $600,000 worth of cryptocurrencies stolen from 29 wallets. Shortly after, the team published a post explaining the issue and promised to reimburse all affected users. LiFi Falls Victim to a DeFi Hack The blockchain protocol explained that the attack occurred on March 20, 2022, when a hacker exploited LiFi’s smart contract (specifically its swapping feature), making users who gave infinite approval...

Cardano network has seen notable traction in terms of total locked value (TVL) that has been on a steady rise since the beginning of the year. DeFi TVL on Cardano Skyrockets The latest stats from DeFi TVL aggregator Defi Llama suggests the total value locked (TVL) on Cardano’s decentralized finance (DeFi) protocols has broken a new high of more than $188 million on March 14. The figures cross $270 million when staked governance tokens are added to the valuation of the...

If you talk to any cryptocurrency aficionado about DeFi, Dapps, DAOs, NFTs, they are unlikely to think of Bitcoin as the first relevant blockchain, but OKCoin wants to change that. Today, the Asian exchange announced a partnership with Stacks to bring the highlights of the WEB3 revolution to the Bitcoin blockchain – and the investment to achieve this is strong. OKCoin and Stack Work Towards a More Advanced, Capable Bitcoin Ecosystem As OKCoin explained on its social networks,...

On March 8, Cega Finance announced that it had raised $4.3 million in a seed round led by Dragonfly Capital Partners. There was also participation from various DeFi and crypto VCs, including Pantera Capital, Coinbase Ventures, Alameda Research, and Solana Ventures. The platform, founded by former UBS derivatives trader Arisa Toyosaki, now has a valuation of $60 million. Cega aims to build the next evolution in DeFi derivatives by introducing “exotic derivative capabilities”...