The total value locked in DeFi plunged by nearly $5 billion in the past week, falling to $44 billion, according to DappRadar data. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new analysis by…
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Over the last decade, Mt. Gox has repeatedly postponed plans to reimburse the funds that the crypto exchange had barred its users from withdrawing since Feb. 25, 2014. Mt. Gox’s infamous 2014 security breach — which lost 850,000 Bitcoin (BTC) of investors’ funds — resulted in its users embarking on a seemingly never-ending, decade-long pursuit…
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The Remitano exchange experienced suspicious transactions as over $2.7 million was drained from its wallet by a single account. Crypto exchange Remitano experienced large withdrawals under suspicious circumstances on September 14, with some blockchain analysts concluding that it may have been hacked. A total of $2.7 million worth of crypto has been withdrawn through the…
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A multimillion-dollar security breach involving a third-party vendor hastened Ripple’s acquisition of Fortress Trust on Sept. 8. The takeover of Fortress Trust by financial technology company Ripple on Sept. 8 involved more than just an acquisition deal. The transaction was accelerated by a security incident hours earlier involving a Fortress third-party analytics vendor, Ripple confirmed…
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The X account of Ethereum founder Vitalik Buterin has apparently suffered a breach by scammers spreading phishing links. The attack, which manifested itself in the form of a post offering free digital collectibles, has allegedly resulted in the loss of over $690,000 for those who fell for the fraud. Scammers Lure Victims With Phishing Post…
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DeFi protocol Balancer was exploited just a few days after disclosing a vulnerability affecting its boosted pools. Ethereum automated market maker and decentralized finance protocol Balancer was exploited for nearly $900,000, the protocol confirmed on X (formerly Twitter) on Aug. 27, just days after disclosing a vulnerability that affected several pools. An Ethereum address allegedly…
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The new service, called Economic Exploit Analysis, uses University of Toronto research and will work on any EVM-compatible blockchain. Blockchain security provider Quantstamp has launched an automated service to detect flash loan attack vectors in smart contracts. The new service is being called Economic Exploit Analysis and is based on research done at the University…
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Palo Alto Networks CEO Nikesh Arora warned that “bad actors are getting faster” and stressed that companies need to beef up cybersecurity defenses. Palo Alto Networks CEO Nikesh Arora has urged companies to modernize their cybersecurity systems, cautioning that bad actors have become much faster at breaching company defenses than ever before. Speaking to Jim…
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A fresh round of attacks targeted the DeFi ecosystem on Aug. 18. The Exactly protocol was exploited for nearly $7.3 million, while the Harbor’s team is still estimating the amount stolen. Decentralized finance (DeFi) protocols Exactly and Harbor were exploited on Aug. 18 in two separate — and apparently unrelated — attacks, according to blockchain…
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The new bridge aggregator allows cross-chain DAOs to only accept votes confirmed by more than one bridge. Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous organization (DAO) governance, according to an Aug. 17 announcement from LiFi research lead Arjun Chand. If implemented by decentralized exchanges, lending apps and other Web3 protocols,…
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