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” Needed: A massive education project to fight hacks and scams “ The common narrative around the prevailing threats to mainstream adoption of cryptocurrencies is that regulators will put the kibosh on their legality, it has to get much easier for “ordinary” people to use, and the magnitude of its volatility has to be tempered….
” DeFi-ing exploits: New Chainalysis tool tracks stolen crypto across multiple chains “ Blockchain analytics firm Chainalysis has released a new tool to track transactions across Decentralized Finance protocols and multiple blockchains. Chainalysis launched a beta version of its Storyline software on May 18. Touted as a “Web3-native blockchain analysis tool,” Storyline aims to track…
” Crypto giants co-launch Chainabuse platform to water down rising scams “ Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool aims to enable crypto users to issue warnings and discuss ongoing fraudulent…
” Axie Infinity’s Discord bot compromised, hackers issue fake minting message “ Axie Infinity, the popular play-to-earn nonfungible token game, faced another attack on its Discord server earlier on Wednesday, leading to a compromise of its MEE6 bot. MEE6 is a popular discord bot mainly used for automating roles and messages and is used by…
” DeFi attacks are on the rise — Will the industry be able to stem the tide? “ The decentralized finance (DeFi) industry has lost over a billion dollars to hackers in the past couple of months, and the situation seems to be spiraling out of control. According to the latest statistics, approximately $1.6 billion…
” Etherscan, CoinGecko warn against ongoing MetaMask phishing attacks “ Popular crypto analytics platforms Etherscan and CoinGecko have parallelly issued an alert against an ongoing phishing attack on their platforms. The firms began investigating the attack after numerous users reported unusual MetaMask pop-ups prompting users to connect their crypto wallets to the website. Based on…
” Finance Redefined: DeFi protocols lost $1.6B, EU to rethink DeFi approach, and more “ The past week in the decentralized finance (DeFi) ecosystem saw many new developments from an adoption perspective and protocol developments. The European Commission added a new chapter on DeFi, showing the growing impact of the nascent ecosystem, while a county…
” Polkadot launches cross-chain messaging system to solve blockchain’s bridge problem “ Blockchain platform Polkadot has launched a new cross-chain communications protocol, saying it will do away with cumbersome bridging mechanisms that have cost the crypto industry billions in cyber attacks. The newly launched XCM messaging system is intended to promote Polkadot’s multichain ecosystem, which…
” More than $1.6 billion exploited from DeFi so far in 2022 “ The decentralized finance (DeFi) space has been rife with hacks, exploits, and scams so far this year with over $1.6 billion in crypto stolen from users, surpassing the total amount stolen in 2020 and 2021 combined. Analysis from blockchain security firm CertiK…
” Rari Fuze hacker offered $10M bounty by Fei Protocol to return $80M loot “ Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 or nearly $80 million. On April…