The addresses linked to the hack attack have managed to steal 206,809 Binance Coin from Qubit’s QBridge protocol. High-profile hacks have become more prevalent throughout the cryptocurrency market, and Qubit Finance is one of the latest decentralized finance (DeFi) protocols to be exploited by hackers.Hackers were able to access and steal over $80 million from… More
Flash loans, though relatively new, are quickly rising in popularity. Learn more about these uncollateralized-type loans in crypto in the article below. How can DeFi systems protect themselves from flash loan attacks?A large majority of DeFi hacks are flash loan attacks. Since the technology is new, vulnerabilities are not readily apparent and may require skilled… More
Secret Network launched a $400 million DeFi fund and 1inch integrated Avalanche and Gnosis protocols — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.Following a bearish decline for many of the leading decentralized finance (DeFi) tokens, it is within the fundamental news where the… More
Terra Research presented a governance proposal to expand the influence of UST and LUNA, Aave Arc launched a DeFi pool for whitelisted projects, and WonderFi Tech purchased First Ledger Corp for $162 million — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.The new year… More
The research reveals that crypto losses in the nature of exploits and rug-pulls saw a 137% rise in comparison to figure calculated in 2020. Decentralized finance, or DeFi, security platform and bug bounty service ImmuneFi published an official report on Thursday, which calculated the total volume of losses in the cryptocurrency markets in 2021. According… More
Major digital asset manager Grayscale has rebalanced the DeFi Fund for the second time since its inception in July 2021. Crypto asset manager Grayscale Investments has rebalanced its Grayscale DeFi Fund and adjusted weightings of its Digital Large Cap Fund.A Jan. 3 announcement detailed the changes Grayscale made to its two funds. The DeFi Fund’s… More
The recent bout of buying in the Yearn.finance market accompanies meager volumes, suggesting there are not enough buyers backing YFI’s price rally. Yearn.finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish… More
“In the staking market, there was significant latent demand for a decentralized option — it just needed our launch to spark an inferno,” said Rocket Pool general manager Darren Langley. Rocket Pool, a decentralized Ethereum 2.0 staking platform has surpassed $350 million worth of total value locked (TVL) within five weeks of its official launch.… More
A virtual trap to lure attackers so that you can improve security policies is what honeypot aims for! What is a crypto honeypot and why is it used?Smart contracts programs across a decentralized network of nodes can be executed on modern blockchains like Ethereum. Smart contracts are becoming more popular and valuable, making them a… More
Decentralized technologies’ insiders shared their views on DeFi and on the role, achievements and challenges the space faced in 2021. Yaniv Tal of The GraphYaniv is a co-founder and CEO at Edge & Node, and co-founder of The Graph, a decentralized indexing protocol used by blockchains such as Ethereum.“Many people and institutions got started with… More
The initial stake pool offering has seen significant uptake, with one of the four GENS pools being nearly fully committed in just two days. On Dec. 15, Genius Yield, a decentralized automated market maker and liquidity management protocol built on the Cardano (ADA) blockchain, announced the launch of its initial stake pool offering, or ISPO.… More
Its “decentralized” Treasury has more than $45 million and would pursue similar YFI buybacks in the future. Yearn Finance (YFI) emerged as one of the best performers in the crypto market this week, rallying by over 46% in just four days to reach a two-week high above $29,100.YFI/USD daily price chart featuring its four-day bull… More
The U.S. lawmaker claimed that the value of stablecoins would “take a nosedive,” with small investors largely feeling the effects of a potential downturn. Massachusetts Senator Elizabeth Warren did not hold back in her criticism of decentralized finance (DeFi), expressing concern about how a run on stablecoins would affect the average investor.In a Tuesday hearing… More
Even though the total value locked in DeFi protocols has eclipsed $246 billion, it was not enough to please the BIS. On Monday, the Bank of International Settlement, or BIS, a financial institution owned by central banks worldwide, published a report scrutinizing the development of the decentralized finance, or DeFi, industry. The article opened by… More
DeFi wallets provide users with a gateway into the world of decentralized finance; the only caveat is finding the one that best supports a user’s financial goals. Which wallets are worth considering?The SafePal wallet is designed to address simplicity with a consolidated dashboard and cross-chain swapping features to support users with staking, amongst other earning… More
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