Tag Archives: defi

Despite lessening activity in the arena of decentralized finance (defi), some companies – like Giddy – are remaining afloat and establishing solid records for themselves. How Giddy is Holding Its Ground Giddy is described as a self-custody smart wallet. Run by its CEO and co-founder Eric Parker, the company seeks to make wallet experiences easy for everyone following a very bearish year in 2022. In a recent interview, Parker – when asked how Giddy makes money –...

Algorand-based decentralized finance (DeFi) protocol, Algofi, has announced winding down its operations. In a statement, Algofi cited a “confluence of events” as the reason behind its decision that has rendered it no longer viable to continue building and maintaining the platform to the “highest standards.” As a result, the platform will soon transition to withdrawal-only mode. The DeFi platform revealed that closing down all the social media platforms associated with the...

Non-custodial decentralized finance (DeFi) protocol, Arcadia Finance, is the latest victim of a $455,000 exploit that occurred on both the Ethereum and Optimism networks. Confirming the hack, Arcadia revealed that it is working with security partners to minimize the damage after pausing the contracts. The platform has also roped in law enforcement to deal with the issue. Blockchain security expert PeckShield was first to notify the attack on Arcadia and claimed that it was...

In yet another case of a rug pull, Arbitrum-based Chibi Finance reportedly siphoned more than $1 million worth of various crypto assets. Notably, the protocol went live on Tuesday, but the developers managed to launder the stolen funds to other networks shortly after. On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts. These funds...

Struct Finance – a Decentralized Finance (DeFi) platform that allows customers to engage with tailored structured monetary products linked to cryptocurrencies – announced the mainnet launch of its tranching mechanism and innovative Interest Rate Vaults. The initiative enables users to invest in products according to risk tolerance, providing predictable returns.  Reaching Investors With ‘All Risk Appetites’ According to a document seen by CryptoPotato, Struct Finance’s new...

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...