Arcadia Finance, a protocol for non-custodial decentralized finance (DeFi), was hacked for over $455,000 due to a flaw in the code. The breach on Arcadia Finance was brought to light by blockchain investigator PeckShield. It attributed it to “the lack of untrusted input validation.” It was claimed that the code
Almost a year after shutting down operations and filing for Chapter 11 bankruptcy, on June 23 of this year, insolvent crypto lender Voyager Digital permitted investors to begin withdrawals. Dune Analytics reports that since then, over $250 million has left the platform. Voyager reopened withdrawals to customers on June 23.
It seems that a multi-million dollar exploit was perpetrated on the Multichain bridge on Thursday, July 6. A statement from the Multichain protocol said that they will be temporarily pausing their operations. According to estimates, multi-chain assets on the cross-chain protocol Multichain worth a total of over $125 million outflowed
Bankrupt crypto lender Celsius and its former CEO Alex Mashinsky allegedly infringed many United States rules before the company’s collapse in 2022, as found by investigators from the Commodity Futures Trading Commission (CFTC). Attorneys from the CFTC’s enforcement section reportedly determined that Celsius deceived investors, failed to register with the
Despite what may seem to be excessive price swings, Cardano’s (ADA) DeFi TVL has been trending upwards. According to DeFi aggregator DeFiLlama, the total number of ADA tokens locked on all of the DApps it monitors has hit a new all-time high of 557.62 million ADA. This figure has increased
Bitget has launched a Crypto Loans product to enter the cryptocurrency lending sector. The platform plans to provide a crypto-based alternative financing option, as said in a statement, in an effort to win over customers who are dissatisfied with traditional financial institutions. It utilizes a dual-coin strategy to streamline the
Blockchain technology has revolutionized how information is stored and transferred, particularly within the realm of cryptocurrencies. With its transparent and decentralized nature, blockchain layer has become a breakthrough innovation of the 21st century. However, understanding the intricate workings of blockchain can be challenging. In this article, we will simplify the
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
The bankruptcy court has approved Celsius Network’s plan to convert all assets held in cryptocurrencies into Bitcoin and Ethereum. Judge Martin Glenn of the Southern District of New York has rendered a fresh judgment in the platform’s bankruptcy proceedings. And the liquidations will soon allow for the release of payment
