Decentralized finance is a form of blockchain-based finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to provide traditional financial instruments, instead of relying on smart contracts on blockchains, the most common of which being Ethereum.
Government-backed studies identify decentralized finance (DeFi) and metaverse technologies as crucial opportunities to strengthen the region's standing in the sector, offering a promising future for the industry. On June 25th, the Hong Kong Institute for Monetary and Financial Research (HKIMR), the Hong Kong Academy of Finance (AoF) research arm, released ...
Read moreDetailsDeFi Technologies Inc., a Canadian company issuing DeFi exchange-traded products (ETPs), has vehemently denied allegations of questionable practices aimed at artificially inflating its stock price. The response comes after a report from the crypto-focused newsletter CoinSnacks, which accused the company of engaging in email campaigns and paying influencers to promote ...
Read moreDetailsThe European Securities and Markets Authority (ESMA), the EU's top financial regulator, has published a new report assessing the potential advantages and notable risks associated with the DeFi (Decentralized Finance) ecosystem. In the 22-page analysis, ESMA acknowledges the innovative aspects of DeFi in terms of financial accessibility, product diversity, and ...
Read moreDetailsConic Finance, a DeFi protocol managed by Curve DEX, has suffered a significant exploit resulting in a hacker making away with 1700 ETH, valued at more than $3.2 million. Security experts from BlockSec revealed that the attacker exploited a reentrancy flaw within Conic Finance to drain funds from the protocol. ...
Read moreDetailsA $35,000 DeFi loan backed by a luxury watch showed how NFTs could connect physical assets to crypto lending. CirrusNFT, a pseudonymous NFT collector, shared the deal in July 2023. The borrower used a Patek Philippe watch as collateral and received a loan through Arcade, an NFT lending protocol. The ...
Read moreDetailsArcadia Finance, a non-custodial DeFi protocol, has been breached by a hacker who exploited a programming flaw and stole approximately $455,000 from the protocol. #PeckShieldAlert Our community contributor has detected that @ArcadiaFi has been exploited on both #Ethereum and #Optimism for ~$455K The exploiter on #Ethereum was frontrun by 0x5C75e94dD0Ab9c10BFd1B8073DafEF031D3c050dhttps://t.co/blGx5IEAkk ...
Read moreDetailsSturdy Finance, a decentralized finance (DeFi) protocol, recently suffered a security breach that resulted in the loss of 442 ETH, equivalent to over $800,000. The breach was a result of a flaw in the protocol's price oracle, which allowed the hacker to exploit the vulnerability and drain funds from the ...
Read moreDetailsJimbos Protocol has taken decisive action to address a recent exploit and mitigate its impact by offering a bounty for information that would lead to the arrest of the hacker behind the exploit. The platform offered a 10% reward of the stolen funds as an incentive. The exploit occurred on May ...
Read moreDetailsThe US Department of Justice (DOJ) is stepping up efforts to combat illegal cryptocurrency activities by targeting hackers and exploiters of decentralized finance (DeFi) platforms. In response to a surge in such activities over the past four years, the department announced the establishment of the National Cryptocurrency Enforcement Team (NCET), ...
Read moreDetailsScamSniffer, a web3 anti-scam service provider, has revealed that over $4 million has been stolen from cryptocurrency users worldwide through phishing websites promoted on Google. The service provider utilized data from Google Ads and blockchain analytic data to determine the alarming figure. 1/ ???? A recent surge in phishing scams ...
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