Warp Finance’s hack of $8 million could have been prevented with better oracles, the team says. Warp Finance, a DeFi lending protocol that suffered an $8 million flash loan exploit shortly after release, is now gearing up for a relaunch that will include an integration with oracles by Chainlink. The inclusion of Chainlink oracles reportedly…
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Cover Protocol will distribute new “coins” to tokenholders as Binance announces compensation for affected traders. Peer-to-peer coverage market Cover Protocol has published a compensation plan for tokenholders and liquidity providers affected by the recent hack. As part of the process, the Cover Protocol team took a snapshot at block height 11,541,218, the last transaction block before…
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In a promising sign for the DeFi space, another project devotes itself to complete user compensation following an exploit In a blog post on Saturday night, Warp Finance — the latest decentralized finance (DeFi) protocol to suffer a smart contract exploit — announced promising strides towards recompensating users following a nearly $8 million flash loan…
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The protocol is safe, but its founder lost his stash of 6% of all tokens. An unknown attacker stole $8 million from the personal wallet of Hugh Karp, the CEO of DeFi coverage platform Nexus Mutual. According to a disclosure by Nexus Mutual, the funds were drained on Monday morning UTC by compromising Karp’s personal…
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The Uniswap rival manages to fend off an attack in a matter of hours. As exploits and hacks run rampant across the DeFi ecosystem, at least one project appears to have fended off the worst of an attack — the once-maligned “vampire” AMM (automated market maker) exchange Sushiswap. Observers noticed last night that Sushiswap —…
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After a crippling hack, KuCoin looks to return to normalcy — but what’s next for the troubled exchange? In the latest step towards full recovery after a devastating hack in September, Crypto exchange KuCoin announced today in a blog post that it has “restored the deposit and withdrawal services of all tokens.” The announcement follows…
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If the vote passes, the claim will move to a validity committee to approve a possible payout of $340,000. In what might be an important step towards the maturation of the decentralized insurance space, a claim was filed yesterday with DeFi insurance protocol Cover following the $19 million Dai hack of Pickle Finance — and…
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The attackers used social engineering to defraud the GoDaddy staff. Yesterday, security researcher KrebsOnSecurity reported that several cryptocurrency platforms hosted by popular hosting provider Godaddy have been attacked over the past week. According to KrebsOnSecurity, the attacks began on or around November 13th on cryptocurrency trading platform liquid.com. Liquid CEO Mike Kayamori said GoDaddy incorrectly…
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The perils of decentralized finance in the spotlight yet again after the latest major DeFi exploit In yet another attack on a major decentralized finance (DeFi) protocol, farming project Pickle Finance has been exploited today to the tune of $20 million. The attack transpired roughly two hours ago, and ETH-savvy Twitter users were quick to…
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“These are all my savings. I hope you can return it to me.” On Nov. 14, an unknown party exploited flash loans via the decentralized finance protocol Value DeFi to the tune of $5.4 million. A number of individuals have received a portion of their stolen funds back, however, after pleading with the hacker using…
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