The venture capital firm dug into its own pockets to restore trust in the Wormhole ecosystem. On Thursday, Jump Crypto, a crypto venture capital firm that owns Certus One, the developer of the Wormhole token bridge, announced it had deposited 120 thousand Ether (ETH) into a Solana-Ethereum bridge that suffered a devastating exploit. The day…
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On February 2, 2022, the Wormhole Network’s ethereum solana bridge was exploited for 120,000 WETH (wrapped ethereum) worth $320 million and the following day, the team explained that “all funds have been restored and Wormhole is back up.” The team has also said a “detailed incident report” will be published soon. Wormhole Network Returns, Jump…
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Decentralized finance (DeFi) is one of the most impactful innovations in the global crypto markets, enabling crypto traders and investors to earn double/triple-digit yields on their holding. However, using DeFi applications comes with its own share of risks, with protocol hacks being relatively common. In 2021, over USD 12bn was lost as a result…
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The DeFi bridge between Solana (SOL) and other blockchains Wormhole lost wETH 120,000 (USD 325m) in a hack, once again stressing the weaknesses of this nascent sector. The team offered the hacker a USD 10m bounty if they return the funds. In their latest update (12:41 AM UTC), Wormhole confirmed that the vulnerability has…
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“HMRC treats crypto assets as property for tax purposes. However, this is inconsistent with the approach currently being adopted by Government and other regulatory bodies in the UK,” said the executive director of CryptoUK Ian Taylor Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance…
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Reports indicate that the Wormhole Network’s ethereum solana bi-directional bridge has been exploited by an attacker for *93,750 ether or more than $250 million using today’s ethereum exchange rates. The developers behind the Wormhole Network have told the public the network is “down for maintenance,” as the team “looks into a potential exploit.” *Editor’s Note:…
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The Ethereum (ETH) network has been struggling to scale, plagued with skyrocketing gas fees and slow transaction confirmation times. Following the explosion of decentralized finance (DeFi) and non-fungible tokens (NFTs) over the last two years, the strain on the network has become palpable, leading to the much-needed development of layer-2 scaling solutions to reduce…
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Hisham Khan is the Co-founder and CEO of Aldrin, a developer of a DeFi ecosystem. _______… Read More: This Is Why TradFi Will Integrate DeFi into Global Finance Read more »Pay, Trade, Buy Bitcoin with Credit Card
“The proposal includes very expansive language, which, together with the chair’s apparent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms,” said Hester Peirce. Hester Peirce, a commissioner for the U.S. Securities and Exchange Commission known by many in the space as Crypto Mom, is warning that a…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: MyCryptoMetaMask Ethereum Move, Solana Pay, Bitcoin Savings Plan + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
