Despite the sanctions on the crypto mixing service, the bad actors behind January’s biggest exploit have deposited millions worth of funds into Tornado Cash. The suspected actors behind the $6 million exploit of decentralized finance (DeFi) lending protocol Lendhub have just sent more than half of their ill-gotten gains from January into sanctioned crypto mixer…
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The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana’s incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization. Solana Blockchain Deals With ‘Large Forking Event’…
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The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same…
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A US judge has dismissed a class-action lawsuit against DeFi crypto lender Maker that alleged the platform misrepresented risks investors faced, leading to catastrophic losses of collateral on MakerDAO back in 2020. According to a court document filed on Wednesday, the “Black Thursday” lawsuit has been dismissed because Maker Foundation, which built the Maker protocol and created…
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Jump Crypto, the Chicago-based crypto arm of Jump Trading that helped develop DeFi project Wormhole, has managed to counter-exploit the Wormhole protocol hacker and retrieve $140 million worth of tokens. According to a recent blog post, a coordinated effort between Jump Crypto and Oasis, which develops multi-signature wallet software, led to the recovery of certain assets involved…
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The asset retreival came after the High Court of England and Wales ordered Oasis.app to work with Jump Crypto to retrieve the stolen funds. Web3 infrastructure firm Jump Crypto and decentralized finance (DeFi) platform Oasis.app have conducted a “counter exploit” on the Wormhole protocol hacker, with the duo managing to claw back $225 million worth…
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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: Today in Crypto: US Fed Denies Custodia Bank’s Membership Request, Dapper Labs Lays Off 20% of Staff, Block Reports $1.66BN Profit for Q4, Binance Finds 500 ‘Incorrectly Classed’ Aussie Users Read…
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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: Today in Crypto: Coinbase’s New Blockchain Testnet, Spotify’s Token-Enabled Playlists, 3AC’s NFT Sale, Metaco’s Partnership with DZ BANK AG Read more »Sign up for e-EUR – the progressive stablecoin
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme. The founders behind the alleged $340 million “global Ponzi” scheme Forsage have been indicted by a federal grand jury in the District of Oregon. The four Russian founders — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev,…
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Crypto’s value increases with more users, creating a positive feedback loop due to the network effect. The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive…
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