Defi Financial News

13.07 / 05:49

business Blockchain Adoption defi Altcoin Web3 Coding If good UX is like driving auto, Web3 is ‘driving stick’ — UX designers

The current state of Web3 user experience is akin to driving a manual transmission car — there’s more control, but most users will find it unnecessarily clunky, according to several UX designers.

12.07 / 19:05

Blockchain defi DEX Liquidity Cosmos Cosmos-based Osmosis launches concentrated liquidity, lets LPs choose price

The Cosmos-based decentralized exchange Osmosis (OSMO) has launched a new “concentrated liquidity” feature, according to a July 12 announcement from the app’s developer, Osmosis Labs. The new feature allows liquidity providers (LPs) to choose a minimum and maximum price to offer to buy or sell crypto.

12.07 / 15:29

NFT defi Blockchain Game Blockchain gaming platform creates refundable NFT program

Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refunds for nonfungible token (NFT) purchases.

12.07 / 13:17

Ethereum defi Scalability boost Ethereum TPS boost? Starknet ‘Quantum Leap’ goes live

The much-anticipated Quantum Leap upgrade by layer-2 scaling protocol Starknet was recently deployed on the Ethereum mainnet, allowing for as much as 90 transactions per second (TPS), boosting the network’s speed.

12.07 / 06:09

defi Hackers hacks crimes Cybercrime Exploit New York prosecutor charges hacker over $9M exploit of Solana-based exchange

A former security engineer for an international technology firm has been arrested and charged for allegedly using a smart contract bug to steal $9 million in cryptocurrency from a Solana-based decentralized crypto exchange.

11.07 / 20:49

Blockchain Ethereum defi hacks Scams Multichain Multichain Executor has been ‘draining’ AnySwap tokens: Report

A person is using the Multichain Executor to drain tokens associated with the AnySwap bridging protocol, according to a July 10 report from on-chain sleuth and Twitter user Spreek. The report follows outflows of over $100 million from Multichain bridges that occurred on July 7, which were reported by the Multichain team as “abnormal.”

11.07 / 20:49

markets Robinhood defi Cardano Bitcoin Price network Cardano network activity and ADA’s oversold price action hint at a powerful breakout

Caradano’s native gas-paying token ADA received a big blow at the start of June when the SEC regarded it as a security in its lawsuit against Binance and Coinbase.

11.07 / 18:15

Blockchain Adoption defi Near Foundation Near Foundation treasury drops to $900M as token price plunges

At the end of Q2 2023, layer-one blockchain Near Protocol's (NEAR) treasury had declined to $900 million, led by a fall in the price of NEAR tokens from $1.99 to $1.38 apiece.

11.07 / 18:15

Blockchain defi SEC lending Algorand end Algorand decentralized lending protocol Algofi to shut down by end of year

Algofi, the borrowing and lending protocol built on decentralized finance blockchain Algorand, will soon shut down.

11.07 / 14:05

Technology Adoption defi Hackers Cybersecurity security hackathon BUG Bug bounties can help secure blockchain networks, but have mixed results

Bug bounties are programs organizations offer to incentivize security researchers or ethical or white hat hackers to find and report vulnerabilities in their software, websites or systems. Bug bounties aim to improve overall security by identifying and fixing potential weaknesses before malicious actors can exploit them.

11.07 / 12:47

Blockchain Ethereum defi Hackers hacks Decentralized Exchange Time Arbitrum-based Rodeo Finance exploited for second time, $1.5M stolen

Arbitrum-based decentralized finance (DeFi) protocol Rodeo Finance was exploited for $1.53 million on July 11. The DeFi protocol was exploited using a code vulnerability in its Oracle, leading to a loss of over 810 Ether (ETH).

11.07 / 11:59

NFT defi lending Loans Backed DeFi borrower uses luxury watch-backed NFT as collateral for a loan

A nonfungible token (NFT) collector shared the story of how a decentralized finance (DeFi) loan was collateralized through a luxury watch and was facilitated with an NFT representing the asset.

11.07 / 11:59

Blockchain NFT defi Trading KYC Fighting fraud and unlocking new Web3 horizons with Concordium — AMA recap

"To achieve true mass adoption, you need to reconcile TradFi and DeFi, which I find increasingly difficult, and also be ready for compliance. There were a lot of blockchains around 2017-2018, but I didn't feel that any of them seriously addressed the regulatory challenges. To fill this gap, we're building Concordium," said Lars Seier Christensen in Cointelegraph's recent AMA live session.

11.07 / 00:31

defi Hackers hacks Scams phishing Pink, Pussy, Venom, Inferno — Drainers coming for a crypto wallet near you

Four major crypto drainers have emerged to fill the vacuum left by the notorious wallet sweeper Monkey Drainer, with thousands of victims targeted and millions in crypto stolen already this year.

10.07 / 21:07

Ethereum defi Hackers hacks lending Exploit Arcadia Finance hacker used reentrancy exploit, team demands return of funds

The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “re-enter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly.

10.07 / 19:57

Blockchain Ethereum Stablecoin defi Developers Tokens Standard Multichain Connext founder proposes 'Sovereign Bridged Token' standard after Multichain incident

An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks.

10.07 / 14:53

Blockchain defi Trading Liquidity Digital Asset Management This DeFi platform unlocks automated asset management for retail investors

Decentralized finance (DeFi) is one of the most critical use cases of blockchain technology. Despite the dramatic decline that has left the total value locked (TVL) in DeFi at about 20% of its peak ($248.8 billion in November 2021 compared to $48.6 billion in April 2023), the trend is here to stay and has the potential to recover in the coming years. The main argument for DeFi’s continued growth concerns the unmatched benefits of having financial services built on decentralized infrastructures.

10.07 / 12:53

defi lido lido dao Lido Protocol's LDO Token Included as Second-Largest Holding in Grayscale's DeFi Fund

The digital asset management firm Grayscale added Lido liquid staking protocol’s governance token to its DeFi fund.

10.07 / 08:43

business defi Hackers hacks EXP Attack DeFi protocol Arcadia Finance hacked on Ethereum and Optimism for $455K

A hacker drained approximately $455,000 from noncustodial decentralized finance (DeFi) protocol Arcadia Finance by exploiting a code vulnerability.

10.07 / 06:35

defi wallet Scams transactions Revoke adds new feature after users complain of fake approvals scam

Approval management platform Revoke has issued a fix aimed at mitigating a new crypto scam, which involves baiting crypto users into revoking “fake approvals” and then stinging them with excessively high transaction fees.

10.07 / 03:21

Twitter defi Scams Meta phishing 'Scammers' impersonate Crypto Twitter users on Threads as users near 100M

Scammers appear to have wasted no time since the launch of Meta’s new microblogging app — with several high-profile Crypto Twitter users already warning of imposter accounts on Threads.

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