{"id":502760,"date":"2022-10-21T23:30:00","date_gmt":"2022-10-21T20:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/"},"modified":"2022-10-21T23:30:00","modified_gmt":"2022-10-21T20:30:00","slug":"unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/","title":{"rendered":"# Unsung hero saves DeFi protocol from potential exploit: Finance Redefined"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e78d69e7ed\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e78d69e7ed\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#%E2%80%9D_Unsung_hero_saves_DeFi_protocol_from_potential_exploit_Finance_Redefined_%E2%80%9C\" >&#8221; Unsung hero saves DeFi protocol from potential exploit: Finance Redefined   &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#Twitter_user_saves_cross-chain_bridge_from_potential_exploit\" >Twitter user saves cross-chain bridge from potential exploit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#Moola_Market_attacker_returns_most_of_9M_looted_for_500K_bounty\" >Moola Market attacker returns most of $9M looted for $500K bounty<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#MangoMarketss_exploiter_said_actions_were_%E2%80%98legal_but_were_they\" >MangoMarket&#8217;ss exploiter said actions were \u2018legal,\u2019 but were they?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#Wintermute_repays_92M_TrueFi_loan_on_time_despite_suffering_a_160M_hack\" >Wintermute repays $92M TrueFi loan on time despite suffering a $160M hack<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#Binance_delegates_132M_UNI_tokens_becoming_Uniswap_DAOs_second-largest_vote-holder\" >Binance delegates 13.2M UNI tokens, becoming Uniswap DAO\u2019s second-largest vote-holder<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\/#DeFi_market_overview\" >DeFi market overview<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Unsung_hero_saves_DeFi_protocol_from_potential_exploit_Finance_Redefined_%E2%80%9C\"><\/span>&#8221; Unsung hero saves DeFi protocol from potential exploit: Finance Redefined   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4b69a2fe>Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter crafted to bring you significant developments over the last week.<\/p>\n<p>The last week\u2019s headline was dominated by some of the biggest hacks in DeFi. This week is redemption time for many DeFi protocols that either averted an attempted hack or got a significant chunk of their stolen funds back.<\/p>\n<p>The BitBTC bridge reportedly had a bug that would essentially allow an attacker to mint fake tokens on one side of the bridge and swap them for real ones. However, one <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user was able to foresee the vulnerability and informed the cross-bridge platform about it.<\/p>\n<p>The Moola Market attacker has scored about a half-million dollar \u201cbug bounty\u201d after choosing to return a majority of the cryptocurrency they exploited from the Celo-based lending protocol. Cryptocurrency market maker Wintermute repaid a $92 million TrueFi loan on time despite suffering a $160 million hack.<\/p>\n<p>Mango Market hackers that returned a significant chunk of the $117 million stolen from the protocol could still face legal action despite the protocol deciding to award him a $50 million bounty.<\/p>\n<p>The top 100 DeFi tokens remained bearish for another week, as the majority of the tokens traded in red, barring a few. The total value locked also remained below $50 billion for the second consecutive week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Twitter_user_saves_cross-chain_bridge_from_potential_exploit\"><\/span>Twitter user saves cross-chain bridge from potential exploit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A cross-chain bridge between BitBTC and the Ethereum layer-2 network Optimism has been able to avoid a potentially costly exploit thanks to the work of an eagle-eyed Twitter user.<\/p>\n<p>The custom cross-chain bridge offers a ramp for users to send assets between Optimism\u2019s network and BitAnt\u2019s DeFi ecosystem, which includes yield services, nonfungible tokens (NFTs), swaps and the BitBTC token, in which 1 million BitBTC represents 1 Bitcoin (BTC).<\/p>\n<p><strong>Continue reading <\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Moola_Market_attacker_returns_most_of_9M_looted_for_500K_bounty\"><\/span>Moola Market attacker returns most of $9M looted for $500K bounty<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>An attacker has returned just over 93% of the more than $9 million worth of cryptocurrencies they exploited from the Celo blockchain-based DeFi lending protocol Moola Market.<\/p>\n<p>At around 6:00 pm UTC on Oct. 18, the Moola Market team tweeted it was investigating an incident and had paused all activity, adding it had contacted authorities and offered a bug bounty to the exploiter if funds were returned within 24 hours.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"MangoMarketss_exploiter_said_actions_were_%E2%80%98legal_but_were_they\"><\/span>MangoMarket&#8217;ss exploiter said actions were \u2018legal,\u2019 but were they?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The $117 million Mango Markets exploiter has defended his actions as \u201clegal,\u201d but a lawyer suggests that they could still face the consequences.<\/p>\n<p>Self-described digital art dealer Avraham Eisenberg outed himself as the exploiter in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets on Oct. 15, claiming he and a team undertook a \u201chighly profitable trading strategy\u201d and that it was \u201clegal open market actions, using the protocol as designed.\u201d<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Wintermute_repays_92M_TrueFi_loan_on_time_despite_suffering_a_160M_hack\"><\/span>Wintermute repays $92M TrueFi loan on time despite suffering a $160M hack<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack and concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (USDT) loan issued by TrueFi.<\/p>\n<p>After repayment of TrueFi\u2019s $92 million loan, Wintermute still owes $75 million to Maple Finance in USD Coin (USDC) and wr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Ether (wETH) and $22.4 million to Clearpool, a total of $97.4 million in debt.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Binance_delegates_132M_UNI_tokens_becoming_Uniswap_DAOs_second-largest_vote-holder\"><\/span>Binance delegates 13.2M UNI tokens, becoming Uniswap DAO\u2019s second-largest vote-holder<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Crypto exchange Binance is now the second-largest entity by voting power in the Uniswap DAO, sitting just behind the venture firm Andreessen Horowitz, or a16z, according to the on-chain list of delegates. <\/p>\n<p>On Oct. 18, Binance delegated 13.2 million Uniswap (UNI) tokens from its books, which represents 5.9% of the voting power \u2014 a percentage of tokens delegated to the exchange. Compared to the total supply of UNI, the amount delegated represents 1.3%.<\/p>\n<p><strong>Continue reading<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"DeFi_market_overview\"><\/span>DeFi market overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analytical data reveals that DeFi\u2019s total value registered another dip, with the total value locked (TVL) falling below $50 billion at the time of writing. Data from Cointelegraph Markets Pro and TradingView show that DeFi\u2019s top 100 tokens by market capitalization had a mixed week, with the majority of the tokens trading in red on the 7-day chart, barring a few.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/132517b7-6be8-40f1-8e48-1de9d3754841.png\"><\/figure>\n<p>Maker (MKR) continued its bullish momentum into the third week of October, registering a 12% gain over the past seven days, followed by Aave (AAVE) with a 10% weekly surge. Lido DAO (LDO) was another DeFi token that registered a 9.45% surge in the weekly charts<\/p>\n<p>Thanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insight,s, and education in this dynamically advancing space.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/unsung-hero-saves-defi-protocol-from-potential-exploit-finance-redefined\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Unsung hero saves DeFi protocol from potential exploit: Finance Redefined &#8220; Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights \u2014 a newsletter crafted to bring you significant developments over the last week. The last week\u2019s headline was dominated by some of the biggest hacks in DeFi. This week is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvNzM5ZTZkNTItYTk2NS00YzUwLTg2YzItOGE2MDcxYjA2ZjFjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74868,74882,95118,70944,10401],"class_list":["post-502760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-defi","tag-hacks","tag-nft","tag-hackers","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=502760"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502761"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}