The exploit failed due to a miscalculation of Aave’s liquidity levels. On Nov. 23, one day after Mango Markets exploiter Avraham Eisenberg attempted to use a series of sophisticated short sales to exploit decentralized finance protocol Aave, project contributors have put forth a series of proposals to deal with the aftermath. As told by protocol…
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A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a result of the ban, which is likely to have consequences for…
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Bo Shen previously suffered another devastating hack to his personal wallet in 2016. According to a new twitter post on Nov. 23, Bo Shen, general partner of the Vitalik Buterin-advised venture capital fund Fenbushi Capital, claime that $42 million worth of funds were drained from his Trust Wallet on Nov. 10. Shen, who grew up…
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According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto holders to furnish Kenya’s Capital Markets Authority with details such as “the amount of proceeds from the…
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The NYAG clarified that digital assets differ from blockchain technology, and it has no issues with citizens purchasing stakes in publicly traded blockchain-based businesses in retirement accounts. The turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar…
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Elizabeth Warren’s WSJ op-ed, which correlated the fall of the FTX crypto exchange to crypto ruining the entire economy, did not go unnoticed by the online crypto community. The downfall of former crypto exchange FTX has had the entire industry in disarray since the situation began to unravel days before it declared bankruptcy on Nov.…
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Changpeng Zhao first announced the fund following FTX filing for bankruptcy, saying it would be aimed at helping projects with liquidity issues but was not for “liars or frauds.” Changpeng “CZ” Zhao, CEO of crypto exchange Binance, has denied a report claiming he met with investors in Abu Dhabi in an effort to raise cash…
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Bankrupt crypto exchange FTX and its founder’s parents have purchased properties for almost $121 million in the Bahamas, according to a media report. Some of these were supposed to be used by the company’s senior executives, quoted documents have revealed. Bankman-Fried’s Parents Trying to Return Vacation Home to FTX FTX, the parents of its founder…
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It appears that shorting of CRV tokens was a distraction shot to exploit a sophisticated loophole on DeFi platform Aave. As described by analysts at Lookonchain on Nov. 22, tokens of decentralized exchange Curve Finance (CRV) appear to have suffered a major short-seller attack. According to Lookonchain, ponzishorter.eth, an address associated with Mango Markets exploiter…
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The Bahamian Securities regulator was ordered to offer custody for digital assets belonging to bankrupt crypto exchange FTX on Nov. 12. The bankrupt cryptocurrency exchange FTX’s trouble continues to mount with each passing day, with the latest coming from the Bahamas, once its headquarters. The Supreme Court of Bahamas issued an order in favor of…
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