After a significant attack that compromised more than 57 assets across many blockchain platforms on Sunday, July 2, Poly Network temporarily shut down its operations. Poly Network, an interoperability platform, was severely hacked over the weekend when an attacker used a flaw in the cross-chain bridge protocol to generate billions
As of June 30th, the South Korean Financial Services Commission (FSC) is reportedly looking into crypto lending company Delio, as reported by the local news portal Digital Asset. The FSC has filed charges of fraud, embezzlement, and breach of trust against Delio due to the company’s June 14 decision to
In today’s crypto market, Defi tokens have showcased exceptional performance. It is currently outshining in the ever-evolving landscape. Over the past two weeks, the total market capitalization of DeFi has witnessed a remarkable 15% increase, soaring from $41.5 billion to $47.8 billion. Aave, Uniswap, Stacks, and Synthetix have been the
For the time being, Insolvent crypto lender BlockFi will be able to put off paying a $30 million penalty to the U.S. Securities and Exchange Commission. A $50 million settlement with the regulator was reached in February of 2022, and this is the remaining balance. Court documents filed on June
Struct Finance, backed by Ava Labs, has launched customizable interest rate products on the mainnet. Now cautious investors no longer need to avoid DeFi, whether they are institutions or smaller players. The mainnet launch of Struct Finance’s cutting-edge Interest Rate Vaults and a distinctive tranching mechanism was announced today. Struct
Delio, the leading cryptocurrency lending platform in South Korea and a central figure in the Lugpool dispute, temporarily halted withdrawals two days ago. The company’s CEO has lately revealed intentions to gradually restart withdrawals. Delio CEO Jeong Sang-ho announced the gradual resumption of withdrawal services at a conference with investors.
A district court in the United States has issued a default judgment ordering Ooki DAO to cease operations. Furthermore asked to pay a $643,542 civil penalty. In September 2022, the CFTC sued Ooki DAO for “unlawfully acting” as a futures commission merchant. And providing consumers margin and leverage trading services.
Last week was quite a rollercoaster ride for the crypto market amidst the SEC’s never-ending turmoil. It had a significant impact on the overall market, and surges in crypto gains became rare. Investors have been on high alert ever since the allegations. The DeFi market is no exception. The current
The monthly industry analysis by DappRadar shows that the market for decentralized apps increased by 9.97% in May. The firm notes that the number of daily unique active wallets (dUAW) has already hit an average of 1,967,051. The study found that the gaming industry and decentralized finance (DeFi) were responsible
Blur, a decentralized finance (DeFi) platform, recently announced via its official Twitter account that it had hit a new milestone. According to the tweet, the total value locked (TVL) in Blur has reached an unprecedented all-time high of $160.82 million. Blur TVL has reached a new all time high of
