Is Ethereum centralized or decentralized? - cyptoranking.com

2024-05-03

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Since 2020, these holders have shed 20 million ETH from their combined holdings, worth about $31.6 billion at the current exchange rate. In the past year alone, they have sold about 12 million ETH ($18.9 billion), an astonishing figure. Source: PixabayDecentralized Finance (DeFi) platform Zunami Protocol has confirmed a price manipulation attack on its “zStables” stablecoin pools on Curve Finance, causing potential losses of over $2.1 million.The attack is the latest among the list of protocols affected by the recent vulnerability in the popular DeFi platform Curve Finance, which drained funds from a number of the protocol’s liquidity pools, exposing $100+ million worth of cryptocurrencies.The hacker in the Zunami Protocol’s exploit apparently took flash loan from balancer, blockchain security firm Ironblocks noted. The attacker, then added liquidity to change the price massively and started trading in Zunami’s exchange.Ironblocks wrote in a Tweet that the liquidity was later removed, which changed the price and finally traded back and returned the flash loan to get 1,1152 ETH.Fellow blockchain security platform PeckShield was quick to report the attack on Twitter, which immediately notified Zunami Protocol to take “necessary actions.”The attack netted the bad actor more than $2.1 million, carried out via price manipulation, “which can be exploited by donation to incorrectly calculate the price,” PeckShield wrote in a Tweet.PeckShield also noted that the stolen funds were sent to coin mixer Tornado Cash, which obscures the transaction path. This further complicates the efforts to track and recover the stolen funds.Curve Finance platform is still struggling to recover millions of dollars lost in an exploit and recently announced a bounty of $1.85 million to anyone who can identify the attacker.Zunami Warns Users to Refrain From Buying StablecoinsFollowing PeckShield’s warning, Zunami confirmed the attack and said that the “collateral remain secure.” The protocol instructed its users to refrain from buying either of the affected tokens – Zunami Ether (zETH) or Zunami USD (UZD) stablecoins – warning that the exploit is still being fixed.Soon after the confirmation of attack from Zunami, both the affected tokens plummeted sharply. UZD dropped 99% to nearly $0, losing its peg, while zETH fell by 89% to a low of $206. UZD is currently trading at $0.0118 at press time, according to CoinGecko.Zunami Protocol, a yield farming aggregator for stablecoin staking, has been promising the highest Annual Percentage Yield (APY) as a decentralized autonomous organization (DAO), with $5 million in Total Value Locked, according to its website.Zunami also promised users to diversify their stablecoin portfolio while avoiding any crashing risk. The price manipulation risk, however, has put a massive dent in Zunami’s reputation.SlowMist Reportedly Warned ZunamiXian Yu, founder of blockchain security platform SlowMist, said that their firm had identified the attack nearly two months before. The Zunami Protocol apparently received warnings from SlowMist, albeit unnoticed until the breach.Yu said that despite repeated warnings sent to the Protocol, “it was an unpleasant communication.”The decentralized nature of the DeFi ecosystem makes it a lucrative target for attackers, stressing on the importance of high security measures and timey actions on such vulnerabilities.Binance Labs Fuels Helio Protocol's Liquid Staking Pivot with $10M Investment in LSDfi Expansion Is Ethereum centralized or decentralized?Unsurprisingly, the XRP price has retraced 10% from $0.54 to $0.49 over the past week. The upcoming delisting and changes in XRP trading pools on Binance could further impact transaction count negatively. Read more: Arbitrum DAO looking to bet $40M on network protocols

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Crew Owner: These are the pillars that forge tight-knit drifting communities, fostering camaraderie among pack members. Aside from Fortnite, which boasts some 400 million registered users, Epic Games also runs the Unreal Engine. The video game development suite powers titles like God of War and PlayerUnknown’s Battlegrounds. Does Germany have Bitcoin ATM machine?Source: Pepecoin Twitter Moreover, in September, BeInCrypto also theorized that BTC market cycles were not linked to halving events.

The protocol had a marked impact on Bitcoin activity earlier this year, causing transaction activity to surge. However, if the NEAR price sustains the current level and rises above the previous swing high, then it might hit and reclaim previous resistance levels of $1.2 and $1.3. Can I buy stock at Bursa Malaysia?— Cointelegraph (@Cointelegraph) May 28, 2023 Wang, who pleaded guilty in December 2022 to four counts of fraud and conspiracy, was a founder and former executive at FTX. He testified on Friday that he received personal loans of around $200 to $300 million from Alameda, which he used to fund venture capital investments and purchase property in the Bahamas.

Finality is attained by the blockchain network’s use of consensus. Different blockchain networks employ various consensus algorithms, each with a unique method of validating transactions and ensuring finality, such as proof-of-work (PoW), proof-of-stake (PoS) or practical Byzantine fault tolerance. The United States economy seems like it is refusing to be derailed. It added a staggering 336,000 jobs in September, defying most expectations. This achievement becomes all the more remarkable against the backdrop of soaring yields on longer-term Treasury bonds and surging mortgage rates. Crypto crash: FTX exchange owes its 50 biggest creditors $3.1bn; Bitcoin trades below $16KLast week, during the first days of a trial that could extend six weeks, there was much rejoicing over the fact that SBF’s high-paid lawyers made an embarrassing initial showing. According to some estimates, District Judge Lewis Kaplan, a former prosecutor who is overseeing SBF’s case, rebutted 60% of attorney Christian Everdell’s questions during a cross-examination. At one point, former FTX dev (and longtime friend of SBF), Adam Yedidia, came right out and said he was ride or die for his former boss up until it became obvious SBF had “defrauded” his customers, a point that was stricken from the record but is impossible to forget. ValeVerse is intended to be Valentino Rossi’s new metaverse on The Sandbox that offers new immersive Web3 experiences for motorsports fans as well as the launch of digital collectibles.

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