Defi Financial News

25.08 / 13:35

business defi coinbase Scams Decentralized Exchange Decentralization BaSe Magnate Finance on Base rug-pulls users of $6.5M, as predicted by on-chain sleuth

Magnate Finance, a lending and borrowing platform on Coinbase’s layer-2 protocol, Base, has rug-pulled its users of $6.5 million hours after on-chain sleuths like ZachXBT warned about the possibility of an exit scam due to several actions of the founders of the project.

25.08 / 06:19

defi BaSe exit Magnate Finance Website Goes Offline as Users Fear $6.4 Million Exit Scam

Magnate Finance on Base has deleted its Telegram group and took its website offline earlier today, sparking fears of a yet another exit scam.

24.08 / 17:35

Ethereum Adoption defi coinbase Decentralization BaSe Framework Base, Optimism unveil shared governance and revenue-sharing framework

Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow to prevent Base from becoming centralized. This announcement was made through three separate blog posts on Aug. 24; one from the jointly-controlled Optimism Collective, one from Base, and one from Coinbase.

24.08 / 16:11

Blockchain Ethereum defi layer2 Balancer Warning vulnerability Balancer says $2.8M still at risk after vulnerability warning

Ethereum automated market maker and decentralized finance (DeFi) protocol Balancer warned that $2.8 million, or 0.42% of its total value locked (TVL), remains at risk following the discovery of a vulnerability on Aug. 22.

24.08 / 11:57

Blockchain Technology defi Tokens Shiba Inu Shiba Inu hints at making Shibarium public soon

Progress is underway in the field of blockchain technology, with the highly anticipated public launch of the Shibarium (L2) version happening soon. The Shiba Inu team has announced that the platform is running smoothly and just needs to be made public.

24.08 / 05:57

Blockchain Hack defi Quantstamp Crypto Firm Launches New Service to Prevent Flash Loan Attacks – How Does it Work?

Blockchain security provider Quantstamp has unveiled an innovative tool named Economic Exploit Analysis, designed to bolster the security of decentralized finance (DeFi) protocols by detecting potential flash loan attack vectors within smart contracts.

23.08 / 21:19

Blockchain defi Hackers hacks solana recovery Cypher announces recovery plan, says it will 'socialize' losses in initial stage

Crypto trading platform Cypher protocol has published a plan to recover from its $1 million exploit, stating it will “socialize” losses across the platform in an initial stage of the recovery. In the first stage of the plan, the Solana-based trading platform will produce a “pro rata redemption package” of current assets it possesses, which will become withdrawable by users through a web interface. However, the platform does not currently have enough funds to pay back all depositors, so losses will be distributed across all accounts in this initial stage rather than being borne by any particular individual or group.

23.08 / 13:57

defi hacks Cybersecurity Cybercrime Loans vulnerability Quantstamp introduces tool to detect protocols’ flash loan attack vulnerability

Blockchain security provider Quantstamp has launched an automated service to detect flash loan attack vectors in smart contracts. The new service is being called Economic Exploit Analysis and is based on research done at the University of Toronto.

23.08 / 13:21

Hack defi Optimism information Exactly Protocol Announces $700,000 Bounty For Information on Hacker

Optimism-based Exactly Protocol that lost $7.3M million in a recent exploit is offering a bounty of $700,000 on any information that could lead to the arrest of the hacker and help recover lost funds.

22.08 / 20:09

Blockchain defi applications play Customers World Mobile launches on Google Play for customers in Australia, Canada, UK, and US

Decentralized wireless (DeWi) network operator World Mobile announced the launch of its app on Google Play for users in the U.S., U.K., Australia, Canada, and Tanzania on August 22.

22.08 / 19:17

Blockchain Ethereum defi Smart Contracts Stellar EVM Stellar joins Bytecode Alliance to help develop EVM alternative Wasm

The Stellar Development Foundation has joined the Bytecode Alliance, an industry group promoting the development of WebAssembly (Wasm), according to an Aug. 21 announcement. Wasm is a competitor to the Ethereum Virtual Machine (EVM) used by the Ethereum ecosystem. It is also used in non-blockchain, browser-based applications.

22.08 / 13:11

defi Social Network data Friend.tech Friend Privacy Breach at Friend.tech: Wallet Addresses and Usernames of 101,000 Users Exposed

Friend.tech has suffered from a major privacy breach that has led to the unauthorized disclosure of sensitive information pertaining to more than 101,000 individuals.

22.08 / 11:55

defi Altcoin Scams phishing LUNC Terraform Labs Terra Phishing scams Terra.money website frozen to prevent more phishing scams

Layer-1 blockchain Terra has temporarily shut down its website in order to protect users from ongoing phishing scams on the platform.

21.08 / 18:13

defi Social Network Bitcoin Friend.tech network Friend Decentralized Social Network Friend.tech Surpasses $1 Million in 24-Hour Fees, Leaving Uniswap and Bitcoin Behind

Decentralized social network Friend.tech has generated over $1 million in fees within just 24 hours of its release, outperforming well-established players like Uniswap and the Bitcoin (BTC) network.

21.08 / 11:37

Blockchain Technology Adoption defi security Tech FinTech strategies 5 strategies to mitigate side channel attacks on cryptocurrency hardware wallets

Cryptocurrency hardware wallets have emerged as a trusted solution for securing digital assets against online threats. However, even these seemingly impenetrable devices are not immune to attacks. Side-channel attacks, which exploit unintended information leakage from the physical implementation of a system, pose a significant risk to the security of cryptocurrency hardware wallets.

19.08 / 18:19

Blockchain defi Hackers hacks defi protocols DeFi protocols Exactly, Harbor hacked in separate attacks

Decentralized finance (DeFi) protocols Exactly and Harbor were exploited on Aug. 18 in two separate — and apparently unrelated — attacks, according to blockchain security firms DeDotFi and PeckShield.

19.08 / 13:45

Blockchain Technology Adoption defi Cybersecurity security Tech The ultimate guide to password management for crypto enthusiasts

In the world of cryptocurrencies, security is paramount. As a crypto enthusiast, one of the foundational steps to ensuring the safety of your digital assets is effective password management.

19.08 / 07:35

Blockchain Stablecoin defi Altcoin ConsenSys Curve Finance L2 Defi Hack Curve Finance to reimburse users, another DeFi hack, and ConsenSys launches L2: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

18.08 / 20:15

Blockchain Ethereum defi hacks Uniswap DAO DAO Attack debate LiFi launches multi-bridge governance solution after Uniswap debate

Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous organization (DAO) governance, according to an Aug. 17 announcement from LiFi research lead Arjun Chand. If implemented by decentralized exchanges, lending apps, and other Web3 protocols, the new aggregator should help prevent governance attacks that originate from cross-chain bridges, according to the aggregator’s documentation.

18.08 / 17:07

business Blockchain Stablecoin defi Web3 How can stablecoins transform SMEs in developing economies?

Small businesses in developing countries face many financial challenges that stablecoins can address. DLTPAY, a Web3 payment and DeFi platform, offers a unified solution to access stablecoin operations and other Web3 services.

18.08 / 14:35

Hack defi Optimism DeFi Lender Exactly Protocol Exploited For $12 Million

Optimism-based decentralized crypto lender Exactly Protocol suffered a bridge exploit as it lost as much as $12 million worth of ETH earlier today.

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