Their cryptocurrencies crashed the market. Now they're ... - cyptoranking.com
2024-05-07
Source: PixabayBalancer, the Ethereum-based decentralized finance (DeFi) protocol, is facing a security breach, marking the second such incident in less than a month. The platform issued a warning to its users after detecting an attack on its frontend, urging them to refrain from interacting with the Balancer user interface until further notice.The breach was revealed to the community on September 19th, around 11:49 pm UTC. $238,000 Worth of Crypto Stolen While the full extent of the attack is still under investigation, it has raised concerns among users and the broader DeFi community. Blockchain security firms, including PeckShield, and blockchain analyst ZachXBT, estimate that approximately $238,000 in cryptocurrency has been siphoned off.The attack's modus operandi appears to involve hijacking the Balancer domain, Balancer.fi. Users who accessed the compromised website were prompted to approve a malicious contract, unknowingly facilitating the draining of their wallets. Reports from affected users indicate that this deceptive approach has been quite effective.Despite the ongoing investigation, Balancer contributor Cosme Fulanito has provided some assurance that the protocol's vault remains "100% fine." This suggests that user funds held in the protocol may not have been affected, though official confirmation from the company is still pending.Balancer Protocol Exploited for $2 Million a Month AgoThis security breach comes as a disconcerting sequel to Balancer's recent vulnerability scare in August, where the protocol warned users of a critical vulnerability. Just days after the initial warning, the platform suffered an estimated $2 million exploit linked to the vulnerability. Although mitigation measures had been implemented to reduce risks, affected liquidity pools could not be paused, leading to the urgent withdrawal advisory for users.The Balancer team has learned from the previous incident and acted swiftly to investigate and contain the breach. Users are now advised to exercise extreme caution, refraining from any interaction with the platform's user interface until the situation is resolved, highlighting the constant battle for security and trust within the DeFi space.CFTC Targets DeFi Protocols Opyn, ZeroEx, and Deridex in Sweeping Crackdown It has been only one week, and the splinters from the SBF trial are already indicating upcoming lawsuits against other institutional lenders to FTX. Their cryptocurrencies crashed the market. Now they're ...Blockchain data shows that the value of the assets held by Ethereum co-founder Vitalik Buterin is down by about $20 million over the last seven days. However, it is still down 48.5% from 2021’s close, just before the start of the bear market, when the local crypto market was valued at 55.4 trillion won (US$40.9 billion).
Axie Infinity’s TVL stats. Next, Web3 gaming possesses enormous potential after years of building, according to Nansen, CEO Svanevik expects breakthrough mainstream hits to emerge alongside outright failures, citing titles from Axie Infinity, Sipher, and MixMob as promising. 6 Best Crypto Exchanges of June 2023Neutron allows developers to easily build cross-chain applications via Inter-Blockchain Communication Protocol (IBC), providing DeFi dApps with the full economic security of Cosmos Hub. NeoWizard is a platform that leverages the Neo blockchain and other decentralized infrastructures to instruct the user on how to solve complex mathematical problems. The Neo Wizard platform is designed to offer a forum where math aficionados can find solutions to arithmetic’s toughest questions. The product was built by a pair of friends: Iris Chen, a co-builder at MoleDAO, and Hongsheng Zhang, a Ph.D. Candidate at Zhejiang University.
A lack of central authority will also mean slower updates and platform changes. Even for a minor bug fix, dApps will need a consensus of the acting government. This could take up to weeks or months while users debate the pros and cons of the fix. According to information available on blockchain data platform Arkham Intelligence, the value of the assets held on publicly-known Buterin’s addresses went from $412 million on Oct. 3 to $392 million as of press time on Oct. 10. This translates to a loss of about $20 million, or 4.85% of the total portfolio value. 5 Best Crypto Prediction Site Tools (Track Forecasts 2023!)While the altcoin moved above the area several times, it has failed to reach a daily close, creating long upper wicks instead. Price
Axos also offers a service called AxPay that enables crypto companies to bypass the Federal Reserve’s bank wire system. An intrabank funds transfer system, AxPay is similar to offerings by banks such as Signature Bank and Silvergate, both of which shuttered this year. In this context, while considering general expectations regarding the Bitcoin (BTC) halving in 2024, and the next bull run, Finbold turned to ChatGPT-4 to understand how the massive amount of data collected by the artificial intelligence feels about a supposed bullish 2024 for XRP. ESPN Survey Shows Sports Betting Popularity; Chancer's New Crypto Might Woo Young InvestorsBitcoin is a ‘super logical’ step on the tech tree — OpenAI CEO For BeInCrypto’s latest crypto market analysis, click here
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