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” DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss “ Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost V1 and Defrost V2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and…
” Bridge attacks will still pose major challenge for DeFi in 2023 — Security experts “ Security has been a critical challenge for decentralized finance (DeFi) and its evolution. Between 2020 and 2022, hackers stole over $2.5 billion through vulnerabilities on cross-chain bridges, Token Terminal data shows. This is a substantial amount compared with other security…
” Web3 projects would rather get hacked than pay bounty: Finance Redefined “ Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Uniswap, one of the leading decentralized exchange platforms, is integrating debit and credit card support for…
” Immunefi says it has facilitated $66M in bug bounty payouts to whitehats since inception “ According to a new report released on Dec. 21, blockchain security firm Immunefi said that it has processed more than $65,918,994 crypto bounties paid to ethical hackers over 1,248 reports since its inception on Dec. 9, 2020. Web 3.0…
” Ankr says ex-employee caused $5M exploit, vows to improve security “ A $5 million hack of Ankr protocol on Dec. 1 was caused by a former team member, according to a Dec. 20 announcement from the Ankr team. The ex-employee conducted a “supply chain attack” by putting malicious code into a package of future…
” DeFi, NFT, blockchain games: Key takeaways from DappRadar’s 2022 review “ 2022 will go down as a challenging year for the cryptocurrency and blockchain space, but the adversity faced has been strewn with plenty of positives for the decentralized application (Dapp) ecosystem. DappRadar has released its yearly report on the industry, focusing on challenges…
” Uniswap to allow users to buy cryptocurrency using debit and credit cards “ Decentralized exchange Uniswap has partnered with fintech company Moonpay to allow users to buy cryptocurrency on its web app using debit cards, credit cards, and bank transfers. The bank transfer option is being rolled out for users within most U.S. states,…
” Projects would rather get hacked than pay bounties, Web3 developer claims “ As hacks and exploits continue to go rampant within the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes of utmost importance. However, a Web3 developer highlighted that it’s not rewarding to do so. In a tweet, a Web3…
” Industry execs confident in DeFi adoption despite security flaws: Finance Redefined “ Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Industry experts are confident in DeFi and believe the sector would continue to see adoption despite…
” Raydium is attacked, loses $2M “ Solana-based decentralized finance protocol Raydium has suffered an exploit, according to a statement from the developer. An initial investigation by the team revealed that the attacker took over the exchange’s owner account. The team said that “authority” over the automated market maker and farm programs has been paused…