Decentralized finance (DeFi) protocols should be simplified for users if adoption is to grow, a survey from the team behind the Uniswap decentralized exchange (DEX) has suggested. In a report that summarized the survey results, Uniswap called DeFi an “objectively simpler, more accessible tech stack for financial markets.”… Read More: DeFi Needs to Be Simpler…
Read more
According to a consultation document, the UK government is seeking views on tax modification for decentralized finance (DeFi) lending and staking. The government has initiated an open consultation to gather insights for drafting improved tax legislation on DeFi transactions. The consultation aims to establish a framework that aligns taxation on crypto assets involved in DeFi…
Read more
Multi-chain lending protocol Hundred Finance has fallen victim to a hacking attack which enabled the theft of about $7 million worth of crypto. The attacker accessed the funds via Optimism, an Ethereum layer-2 blockchain. “Once again we hope the hacker will reach out back to us and we will be able to find a joint…
Read more
A new type of yield-generating stablecoin has been introduced by DeFi provider Ondo Finance, offering institutions a way to benefit from the return of US money market funds on-chain. According to an update from Ondo Finance on Thursday, the new stablecoin, dubbed OMMF, will be a tokenized version of US government money market funds, tradeable…
Read more
Decentralized finance (DeFi) protocol Yearn Finance has fallen victim to an attack, resulting to the theft of about $11 million worth of Dai (DAI), Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Tru USD (TUSD) tokens, according to an investigation carried out by blockchain security firm PeckShield. In the meantime, Yearn Finance’s team has…
Read more
Tether, the company behind the world’s largest stablecoin, has blacklisted a validator address responsible for draining $25 million from Miner Extractable Value (MEV) bots. The validator exploited a bug in the MEV-boost relay to bypass MEV bots by attempting to execute a sandwich trade, which processes an order immediately before another trade and then right…
Read more
Popular decentralized exchange (DEX) platform SushiSwap has suffered more than $3.3 million in losses after a hacker exploited a bug in a smart contract. More specifically, the DEX saw its RouteProcess02 contract, a smart contract that aggregates trade liquidity from multiple sources and identifies the most favorable price for swapping coins, exploited and then distributed…
Read more
The US Treasury has revealed that North Korean hackers and scammers exploit loopholes in the decentralized finance (DeFi) space to launder money and hide criminal activity. In a Thursday report, the federal agency claimed that North Korean hackers and other groups engaged in illicit activity have benefited from the non-compliance of some DeFi platforms with certain…
Read more
Blockchain-based financing firm M11 Credit has resumed crypto lending on the decentralized credit marketplace Maple Finance. The news of the resumption of service was announced in a Twitter thread from M11 Credit on Wednesday, where the firm also said it had upgraded its underwriting and monitoring framework. The new lending pool will have an expected…
Read more
S&P Global is on the hunt for a DeFi director to oversee its expansion into the rapidly evolving decentralized finance sector. According to a Monday job posting on LinkedIn, the giant financial information and analytics company is hiring for a DeFi director to spearhead its expansion into the space in a move that signifies the mainstream acceptance…
Read more
