Author: Karikari Daniel

Article written by Karikari Daniel

Aave’s CEO Shares Insights on the Future of Decentralized Finance

February 7, 2023 1 min read

Stani Kulechov, the founder and CEO of Aave, shared his insights on the DeFi space in a fireside chat with Alex Cohen at the StarkWare Sessions event during ETHTLV 2023 week in Tel Aviv, Israel. During the interview, Kulechov discussed the potential for wider adoption of DeFi and how it offers better risk management compared to traditional finance products. Kulechov believes that stablecoins and payments play a crucial role in

DeFi Hack Rocks Orion Protocol: $3M Loss in Detail

February 6, 2023 1 min read

Orion Protocol is the latest decentralized finance (DeFi) platform to fall victim to a malicious attack. The platform suffered a reentrancy exploit on February 2, resulting in the loss of approximately $3 million in ETH. Despite the setback, Orion CEO Alexey Koloskov was quick to reassure users that their funds were safe and that the damage was contained to an internal broker account. Over the weekend, Rekt published a post-mortem

South Korean authorities charge Bithumb owner with embezzlement

February 3, 2023 1 min read

The suspected real owner of South Korea’s largest cryptocurrency exchange, Bithumb, Kang Jong-hyun, has been arrested on embezzlement charges. Kang, who is the elder brother of the head of Bithumb affiliate Inbiogen, is accused of colluding with his brother to embezzle corporate funds and manipulate stock prices. The Seoul Southern District Court issued an arrest warrant for Kang on Jan. 25, charging him with dereliction of duty, market manipulation, and

Rally Digital Creator Platform Ends NFT Sidechain Support

February 1, 2023 1 min read

The Rally social platform has shut down its Ethereum NFT sidechain due to tough market conditions. The sidechain, which allowed users to create social tokens, was built in 2018 but was “expensive to maintain” according to the CEO. In an email sent to users, Rally explained that the challenges and macro headwinds in the crypto industry were too overwhelming to overcome. The shutdown caused a disruption in withdrawal services, making

Judge Orders Disclosure of Sam Bankman-Fried’s Bail Co-Signers

January 31, 2023 1 min read

A US federal judge has ruled in favor of news organizations and ordered the disclosure of the co-signers of Sam Bankman-Fried’s $250 million bail bond. Bankman-Fried, the founder of FTX, was arrested and charged with fraud and other crimes. The judge stated that the information sought, the names of the bail co-signers, is traditionally considered public information. The judge postponed his order until February 7th to allow for a possible

Report Reveals Aussie Regulator’s Worries on FTX Months Before Implosion

January 30, 2023 1 min read

FTX’s Australian subsidiary was flagged by Australia’s financial regulator, ASIC, as much as 8 months before the exchange went bankrupt. According to documents obtained by Guardian Australia, ASIC had concerns about FTX Australia’s operations and license obtained through a company takeover. FTX Australia acquired its license by taking over IFS Markets in Dec 2021 and began operations in Mar 2022, sidestepping the usual level of scrutiny for new licensees. ASIC

Saudi Arabia’s central bank studying CBDC

January 25, 2023 1 min read

The Saudi Central Bank (SAMA) is conducting research into Central Bank Digital Currencies (CBDCs) but has not yet announced any plans to deploy such a currency. In a recent statement, the bank stated that it is currently in the midst of a project that focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs. However, the bank confirmed that no final decision has been made to

Hacker Takes Advantage of Wormhole to Move $155M in Largest Crypto Heist in Recent Months

January 24, 2023 1 min read

The hacker behind the $321 million Wormhole bridge attack has shifted a large chunk of stolen funds, with transaction data showing that $155 million worth of Ether (ETH) was transferred to a decentralized exchange (DEX) on January 23. The Wormhole hack, which took place on Feb 2, 2022, was the third largest crypto hack of the year and resulted in the loss of 120,000 Wrapped ETH (wETH) worth around $321

Genesis Capital Courtroom Conflict Set to Begin

January 23, 2023 1 min read

On January 23, the first hearing in Genesis Capital’s bankruptcy case will take place in the United States Bankruptcy Court for the Southern District of New York. At the hearing, Judge Sean H. Lane will decide whether to accept the relief requested under Chapter 11 bankruptcy. The companies have requested a joint administration of the case and the appointment of a committee of unsecured creditors, which will have the right

Scammers Use Hacked Twitter Account of American TV Sports Channel to Push Ripple Scam

January 23, 2023 1 min read

The official Twitter account of GOL TV, an American sports channel, has been hacked and used to promote an XRP scam. XRP scams have become a common problem on social media, with scammers impersonating Ripple-affiliated entities and offering false investment opportunities. These scams often involve scammers posing as Ripple CEO Brad Garlinghouse and offering tempting investment opportunities that turn out to be too good to be true. Victims who fall

Polygon Collaborates with BitGo Following Controversial Hardfork Upgrade

January 20, 2023 1 min read

Polygon, a blockchain network, has partnered with BitGo, a crypto custody provider, to allow ERC-20 MATIC holders to stake their coins and earn rewards. This partnership will allow MATIC holders to securely store their coins and earn rewards for holding them. Chen Fang, the Chief Operating Officer at BitGo, said in a statement, “By offering more features for MATIC, we’re providing investors with a safer way to custody their assets

Stargate Finance partners with Metis for Interoperable Cross-Chain Data

January 19, 2023 1 min read

Stargate Finance, an open-source protocol for interoperable cross-chain data, has announced that it will integrate with Metis, a layer-2 scaling solution for cross-layer messaging. This integration will allow Stargate Finance users to benefit from Metis’s faster and cheaper layer-2 solutions for cross-chain messaging, which is a critical component of the Stargate Finance ecosystem. According to the co-founder of Stargate Finance, this integration will help to “address the scalability, cost, and