Magnate Finance, a DeFi lending protocol on the Ethereum layer-2 network Base, is reported to have conducted a rug pull, robbing its users of $6.4 million worth of assets. This event represents the latest troubling incident on the Base network in merely a month of its official mainnet launch. 3 Rug Pulls, $16.7 Million Lost…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: HashKey to Start Offering Crypto Trading to Retail Clients in Hong Kong, ARK Invest & 21Shares Apply for Futures ETFs, Prime Trust Lost $8 million of Client &…
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Magnate Finance first deleted its Telegram channel and X account followed by taking down the website before pulling the plug on its TVL. Magnate Finance, a lending and borrowing platform on Coinbase’s layer-2 protocol, Base, has rug-pulled its users of $6.5 million hours after on-chain sleuths like ZachXBT warned about the possibility of an exit…
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Magnate Finance on Base has deleted its Telegram group and took its website offline earlier today, sparking fears of a yet another exit scam. Magnate Finance, which holds $6.4 million in Total Locked Value, has ties with other financial exit scams. Blockchain analyst ZachXBT also warned of a likely exit scam by Mangate Finance given…
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Popular Decentralized exchange aggregator 1inch partners with Coinbase’s Ethereum Layer 2 network Base to deploy its 1inch Aggregation Protocol and the 1inch Limit Order Protocol. With the mainnet launch of Base on August 9th, exchanges like Uniswap, Balancer, and SushiSwap have just joined the Network. As part of this development, 1inch has been integrated into…
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The two networks will share profits and governance using multisignature wallets, and a “security council” will be formed as the ecosystem grows. Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow…
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One of the largest non-fungible token (NFT) platforms, Opensea, has declared its decision to withdraw BNB Smart Chain (BSC) support. Opensea revealed that the “cost to continue supporting BSC outweighs the impact.” Opensea Pivots Away From BNB Smart Chain in Strategy Re-evaluation On August 18, 2023, Opensea proclaimed that they would cease BSC support after…
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In just one week, Base has attracted hundreds of thousands of new users, attention from mainstay brands and artists, and unfortunately, scammers as well. It’s been an eventful week since Coinbase launched its new layer-2 network Base to the public, bringing with it a frenzy of activity from everyday crypto users, major brands, and more…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: ETFs ‘May Account for 10%’ of BTC Market Value in 3 Years, Jacobi Lists Europe’s 1st Spot Bitcoin ETF, Binance Asks for Protective Order Against the US SEC,…
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Base, a new Ethereum layer 2 blockchain that has been developed by crypto exchange Coinbase, saw inflows worth just over $10 million on its first day after launch. According to data from Dune Analytics, the $10 million were transferred to the network by over the course of 24 hours on Thursday, one day after its…
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