Tag Archives: defi

Nexera, a DeFi protocol, has been affected by a smart contract security breach that resulted in the theft of $1.5 million worth of NXRA tokens. Following the incident, the value of the protocol’s native token plummeted by over 40%. $1.5 Million Stolen and NXRA Token Plummets 43% The exploit was first reported on August 7 by Cyvers, a blockchain security firm, via a post on X that stated, “Our system has detected a suspicious transaction involving your proxy contract.”...

This Year’s Theme: “On the Move” Throughout history, people have left their homes for a variety of reasons and have found themselves in faraway places. This has led to encounters with foreign lands, their inhabitants, their customs, their flora and fauna. Cultural heritage collections are full of artifacts resulting from and bearing witness to those people “on the move”: archival records, travel reports, audiovisual documents, object collections, oral histories etc. These...

The crypto arm of Jump Trading, Jump Crypto, has unstaked about 120,000 ETH worth over $275 million. Jump Crypto will likely sell these assets as it has been moving them to crypto exchanges Binance, Coinbase, OKX, Bybit, and Gate.io wallets, according to Arkham Intelligence data. On-chain analyst Ember CN mentioned on X, “Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth US$410 million in batches into ETH and then transferring it to exchanges such...

In a candid conversation during EthCC, Greg Osuri, the founder of Akash Network, shares insights into his journey, Akash’s inception, and the future of decentralized cloud computing. Osuri’s venture into the world of decentralized cloud computing began long before Akash Network. Osuri, an experienced entrepreneur, first made waves with AngelHack, the largest hackathon-based accelerator globally. “Before AngelHack, hackathons were a very underground concept, and we made them...

Aave, a decentralized finance (DeFi) protocol, has demonstrated resilience in the face of a general crypto market downturn. The platform has generated $6 million in revenue amid the current market sell-off. Aave Withstands Market Turmoil Aave’s founder, Stani Kulechov, said in an August 5 post on X that the protocol successfully handled the overall stress across 14 active markets on various Layer 1 and Layer 2 blockchains, securing $21 billion in value. Stani noted that...

The ZKX Protocol, a Crypto.com-backed decentralized exchange, has shut down due to economic challenges. Following the announcement, the ZKX token plunged by over 50% in the last 24 hours. ZKX Token Plummets Over 50% On July 30, co-founder Eduard Jubany Tur announced the discontinuation of the ZKX protocol. He expressed regret, stating that despite their best efforts, they were unable to find an economically viable path for the protocol. According to data from CoinGecko, the...

Podcast: Was die Schweiz zu einer Bitcoin-Nation macht. BTC-ECHO: Deutschlands führendes Bitcoin- und Krypto-Plattform diskutierte diese Woche in einem Podcast die Schweiz, rsp. die Bitcoin Mentalität in der Schweiz. Eines ist für die Macher klar: Die Schweiz ist eine starke Bitcoin-Nation, u.a. wegen der vielen Pionieren und unterschiedlichen Akteuren: Warum die Luzerner Kantonalbank Kryptowährungen anbietet, was man zur “Bitcoin-Mentalität” der Schweizer sagen kann und wie...

A Decentralized Finance (DeFi) wallet allows users to store, manage, trade crypto, and, most importantly, interact with decentralized applications (dApps) and Web3 projects. These could range from decentralized exchanges (DEXs), liquid staking platforms, and lending protocols to NFTs and SocialFi apps. DeFi wallets give users complete control and ownership over their crypto. But let’s clarify a few things first. There are custodial wallets and centralized exchanges that offer...

LI.FI, a protocol offering bridging and swapping services between the Ethereum Virtual Machine (EVM) and Solana, was attacked by cybercriminal(s), allowing them to walk away with more than $10 million. The attack targeted smart contracts, taking advantage of bugs to steal the funds stored by them and within wallets interacting with them. Cyvers Alerts notified the crypto community about the occurrence, “More than $8M have been drained so far from users and mostly stablecoins! Attacker is...

Scroll, a ZK rollup Layer 2 network, is up 23% over the past seven days to reach a TVL of $1.03 billion, according to L2Beat data. Meanwhile, the total value locked for all Ethereum Layer 2s is up 12.04% over the last week to reach $42.04  billion. Scroll Hits $1 Billion TVL Scroll has become the 8th Ethereum Layer 2 network to surpass a TVL of $1 billion. Of this total value, ETH accounts for 87.29%, stablecoins 11.11%, and other assets 1.60%. The network has recently...