Over 98% of voting tokens favor the deal, which also stipulates that Mango Markets won’t pursue criminal charges. Following a $117 million exploit on Oct. 11, the Mango Markets community is set to make a deal with its hacker, allowing the hacker to keep $47 million as a bug bounty, according to the decentralized finance (DeFI)…
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Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity.” Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. October is historically associated with the bulls, but in…
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Security remains a perennial concern for DeFi protocols, but DeFi will still inevitably “grow and flourish,” Bitfinex chief technology officer Paolo Ardoino believes. Despite the rise of decentralized finance (DeFi), cryptocurrency investors appear to be sticking to centralized exchanges (CEXs) over DeFi tools, according to a new report. Crypto investors are more comfortable holding their…
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Majority of the DeFi tokens in Top-100 traded in red barring a few, thanks to the weekend rout in the market correction towards the end of the week. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The…
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After a brief network suspension as the result of a cross-chain hack, the activity on the BNB Chain is back online. BNB Chain, the native blockchain behind the Binance crypto exchange, is up and running as of Oct. 7 according to an update from the network. Activity on the network was briefly suspended after confirmed…
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“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued…
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The Hong Kong-based group documented its reproduction of the hack on its tech and security oriented blog, seeking insights into Web3’s attack surface spectrum. Amber Group has reproduced the recent Wintermute hack, the Hong Kong-based crypto finance service provider announced on its blog. The process was fast and simple, and used hardware easily accessible to…
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An investigation of MEVbots’ contract revealed a backdoor that allows the creators to drain Ether from its users’ wallets. MEV gain, an Ethereum (ETH) arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining its users’ funds via a fund-stealing backdoor. Arbitrage bots are programs that automate trading…
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A new report suggests the Ethereum staking ecosystem could become a formidable industry impacting a wider crypto economy. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Chainalysis chief scientist shared his views on the Tornado Cash saga…
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The growth of decentralized finance, or DeFi, has made the blockchain industry especially vulnerable to scams and attacks. Web3 bug bounty and security services platform Immunefi has closed a $24 million Series A funding round, putting the company on track to scale its in-house capacity amid widespread vulnerabilities in the blockchain industry. The funding round…
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