Prisma Finance has unveiled a strategy to cautiously restart operations following a hack that resulted in a loss of $11.6 million and prompted a temporary pause of the platform on March 28. Reinstating borrowing capabilities on Prisma hinges upon achieving consensus through an ongoing community vote. Prisma Finance Exploited for $10 Million: Recovery Efforts and…
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According to PeckShield’s data, approximately $100 million in stolen crypto funds from hacking incidents in March have been successfully recovered. Despite significant initial losses totaling millions of dollars, 52.8% of the hacked funds were returned to their rightful owners. PeckShield reported that the majority of the recovered funds stemmed from the Munchables incident, where the…
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Prisma Finance, a leading decentralized finance (DeFi) protocol, was the victim of a sophisticated hack involving the FixedFloat exchange, which resulted in a loss of $9 million. The protocol team has acknowledged the breach, and their engineers have already halted the DeFi protocol to investigate the attack. Prisma Finance Hit by $11 Million Exploit, Security…
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Crypto online banking company Meld, which received a VASP license in Lithuania, is set to launch tokenized real-world assets (RWA) for retail investors. The bank will launch borrowing and lending services against tokenized RWA in partnership with German-licensed DeFi platform Swarm Markets. According to Swarm Markets spokesperson, both Meld and Swarm signed a memorandum of…
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Jimmy Zhao, a veteran Senior Solution Architect at BNB Chain, recently sat down for a chat with Cryptonews Podcast host Matt Zahab. He talked about BNB Chain and Binance being separate entities, different layers of BNB Chain coming into a unified platform, shifting to fully on-chain models, and bringing 15x lower fees. He further touched…
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The Arbitrum Foundation has unveiled a proposal for a $400 million Gaming Catalyst Fund, targeting the expansion and enhancement of its blockchain gaming sector. In a detailed proposal published on the community forum, the Arbitrum Foundation outlined its vision for the fund. The initiative, designed to enrich Arbitrum’s gaming landscape, is currently seeking endorsement from…
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The highly anticipated layer 1 blockchain Monad officially launched its developer network (devnet) on March 14 after achieving an impressive 10,000 transactions per second (TPS) in internal testing environments. This TPS statistic and Monad’s goal to optimize and improve Ethereum’s functionality signal the project’s potential to address Ethereum’s scalability issues. “This is an important milestone…
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House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion Chairman French Hill (R-AR) lambasted the Consumer Financial Protection Bureau (CFPB) Wednesday morning for their recent federal oversight proposal of digital asset payment systems, telling the independent government agency to “go back to the drawing board.” Republicans Criticize Consumer Financial Protection Bureau’s Oversight Rule…
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A Blast block explorer has reported that the Blast network had encountered a disruption in block production during the Ethereum Dencun upgrade. No blocks have been produced since approximately 14:05 GMT. Designed as an experimental layer-2 solution on Ethereum, the Blast network offers a native yield on assets. The layer-2 blockchain team said a full…
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Decentralized exchange PancakeSwap has announced PancakeSwap V4 and a CAKE airdrop campaign to celebrate it. According to the press release, PancakeSwap is conducting a $3 million CAKE airdrop to incentivize both current users and newcomers to explore the benefits of the upgraded platform. Notably, the airdrop is available on a first-come, first-served basis. Reducing Fees…
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