The attacker reportedly manipulated the exchange rate between ERC-20 tokens and hTOKENS to steal over $7 million from the protocol. Multichain lending protocol Hundred Finance has experienced a significant security breach on the Ethereum layer-2 blockchain Optimism. According to the protocol on Twitter, the losses sit at $7.4 million. Hundred Finance announced the exploit on…
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Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers…
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The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla executive and owner of…
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The Euler Finance exploit was the largest of Q1 2023, and the risk of a similar attack on other protocols remains. The March 13 flash loan attack against Euler Finance resulted in over $195 million in losses. It caused a contagion to spread through multiple decentralized finance (DeFi) protocols, and at least 11 protocols other…
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An unprecedented number of BTC margin longs recently closed at Bitfinex, leaving analysts searching for explanations. Since May 2022, the Bitcoin (BTC) margin markets on the Bitfinex exchange have been plagued by an unusually high open interest of over $2.7 billion. This information alone should raise a red flag, especially in light of Bitcoin’s price…
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The exploiter originally drained $195 million worth of ETH and tokens from the protocol but has now returned around $138 million. The architect of the March 13 Euler Finance exploit returned an additional $26.5 million worth of Ether (ETH) to the Euler Finance deployer account on March 27, on-chain data shows. Another 13M for ze…
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After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth…
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Euler is working with law enforcement agencies and blockchain security firms to contact the exploiter and recover the funds. Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in…
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Thailand’s securities regulator believes that crypto firms should not be allowed to deploy users’ deposits and provide lending services. Thailand’s Securities and Exchange Commission (SEC) is preparing to hold a new public hearing on a potential ban on staking and lending services in the country. Thailand’s SEC officially announced on March 8 that the authority…
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Babel reportedly owes $524 million worth of Bitcoin, Ether and other tokens due to “risky trading activities” by co-founder Wang Li. Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new…
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