Decentralized Finance (DeFi) has been a hot topic in the financial industry over the past few years, and for a good reason. Significantly, the opportunities within the DeFi space are still massive, and the potential for disruption in traditional finance is undeniable. With the rise of blockchain technology, DeFi has
This weekend, security company PeckShield discovered a significant flaw in the DeFi protocol SushiSwap, namely in the ‘RouterProcessor2’ contract, which is used for trade routing on the SushiSwap exchange. In other words, consumers unwittingly give the exploiter access to their tokens by approving the fraudulent contract. PeckShield tweeted: “It seems
According to a recent assessment from the United States Treasury Department, crypto, consumers, and national security are all at risk due to inadequate cybersecurity measures within the decentralized finance (DeFi) sector. This groundbreaking report is the first to propose that the decentralized and distributed structure of DeFi necessitates further regulatory
On April 6, the first-ever illicit finance risk assessment report of the year 2023 released by the U.S. Treasury Department. Furthermore, this demonstrates the focus on decentralized finance (DeFi) and money laundering services eliciting risk assessment. Meanwhile, the decentralized market intimidates the nation’s security. DeFi Ensures Financial Safety The reports
By providing a reward of $95,000 for the hacker. The lending protocol Sentiment was able to retrieve the stolen funds. Sentiment urged the hacker to “do the right thing” by offering $95,000 in exchange for the restoration of the stolen assets by April 6 in an on-chain transaction on the
The anticipation of Ethereum’s Shapella Upgrade – the simultaneous occurrence of Shanghai and Capella – in a week led to notable 24H price surges in ETH and altcoins related to DeFi staking. Remarkably, ETH crossed the $1,900 level and hit its 8-month-high of $1,920. It spurred the community’s hype to
On Tuesday, the decentralized finance (DeFi) lending protocol Euler Finance reported that the exploiter responsible for the multi-million dollar assault has repaid all recoverable assets. The project’s developers said the hacker had refunded all the money as per a Twitter post. On March 13, Euler Finance was the victim of
dexFreight, a Fintech-enabled logistics market network driven by smart contracts, has been awarded a USPTO patent, which will allow real-world asset-collateralized NFTs to be introduced into the Rootstock DeFi ecosystem. DexFreight received a USPTO patent on March 28, 2023 (Patent No.: US 11615375 B2) for its novel approach to electronic
Allbridge, a multichain token bridge, had over $573,000 stolen from it, but the exploiter has apparently returned a major amount of it in exchange for a white hat reward and no legal action. On April 3, Allbridge tweeted that it had received a message from a person who has returned
For the second month in a row, Coinbase‘s trading volume was lower than that of Uniswap, a decentralized cryptocurrency exchange. Uniswap’s spot market volume reached $71.6 billion in March, 45 percent greater than Coinbase’s. March was the highest volume month on the decentralized exchange since January 2022. Despite Coinbase’s volume
