DeFi customers lost $10.5 billion to theft in 2021. The Poly Network breach remains the biggest in crypto—not just DeFi. Since just about anybody can fire up a DeFi protocol and implement some smart contracts, defects in the code are frequent. And with DeFi, there are numerous unscrupulous parties eager
Venus Protocol launched the LUNA and UST markets on March 22nd. LINK’s active address also experienced a rise. Let us take a look at the top 3 DeFi cryptocurrencies by volume. Avalanche (AVAX) Web3 developers center of excellence the Avalanche blockchain and smart contract platform has been bolstered by a
At the moment of the assault, the attacker was well-equipped and ready to go. The hacker had routed gas money via the Celer Network cBridge before the assault. It took the hacker 15 minutes to set up the contract that he used to syphon money from OneRing’s bank account. However,
Automated functions using smart contracts reduce intermediary participation to a great extent on DeFi systems. A lack of liquidity and the inability to quickly switch between different blockchains are the two most common causes of existing DeFi systems being sluggish or even unreliable. When there are so many different currencies
The address linked with the attacker has transmitted more than 2,100 ETH. The attacker used protocol’s vulnerability to drain the money and used a crypto mixer. Following a “re-entrancy” assault on the decentralized finance (DeFi) lending protocol apps Agave and Hundred Finance, a hacker stole around $11 million in wrapped
Hackers could make off with 200,000 DAI and 1101.8 ETH. The hacker used Tornado cash, a currency mixing tool, to transfer the stolen coins. In the latest case of a decentralized finance (DeFi) marketplace being targeted by an attack, Deus Finance has lost almost $3 million in DAI and Ethereum
Timechain is thrilled to announce that it will be joining the Fireblocks network. In the field of digital asset management and decentralized finance (DeFi), Timechain is a prominent Canadian company. In comparison to other Canadian cryptocurrency service providers, the safe financial ecosystem has more extensive trading and financial capabilities available.
Uniswap’s high gas prices, lengthy transactions, and overlapping liquidity make it tedious for most individuals to trade tokens on the platform. On the Ethereum blockchain, several DeFi AMMs provide similar services. Bashoswap is developing an accelerator and native token exchange platform for Cardano to link early-stage developers with early adopters,
Decentralized financing platform Cake DeFi, has formed a corporate venture arm with a budget of US$100 million in designated funds. It is based and registered in Singapore, and it complies with all of the Monetary Authority of Singapore’s regulatory requirements (MAS). Cake DeFi Ventures (CDV) will invest in innovative businesses
Staking or lending crypto assets in order to produce a high rate of return or reward in the form of additional cryptocurrency is known as yield farming. In recent years, new advancements in decentralized finance (DeFi) such as liquidity mining have given this creative but dangerous and unpredictable application a
