Browsing:DeFi

Polygon-based lending protocol 0VIX fell victim to a flash loan attack
12 months ago 1 min read

Hackers Steal $2 Million from New Polygon (MATIC) DeFi Protocol

Polygon-based lending protocol 0VIX fell victim to a flash loan attack on April 28, 2023, resulting in a loss of approximately $2 million in crypto. The protocol’s oracles mechanism was exploited, allowing the attacker to manipulate the price of vGHST, a 0VIX token based on Aavegotchi’s GHST asset. The vulnerability in the oracles mechanism was identified by Peckshield, a leading Web3 cybersecurity expert. The attack began with the attacker depositing $24.5 million in USD Coins (USDC) as collateral and borrowing $5.4 million in U.S. Dollar Tether (USDT) and 720,000 USDC. They then leveraged their position by borrowing vGHST, causing the

Coinbase has announced that it will add Osmosis (OSMO)
12 months ago 1 min read

Cosmos-Based DeFi Protocol Gains Momentum on Coinbase Listing Speculations

Coinbase has announced that it will add Osmosis (OSMO), a Cosmos-based decentralized finance (DeFi) project, to its listing roadmap. This has given the OSMO token a price boost amid the ongoing market doldrums. Osmosis is an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) that enables cross-chain transactions using inter-blockchain communication (IBC). The project’s website explains that Osmosis allows users to launch liquidity pools with unique parameters and an adaptable incentive structure. OSMO’s native governance token was trading around $0.7325 before the Coinbase announcement and has since shot up to $0.8106 at the time of

Uniswap DeFi token swap service
1 year ago 1 min read

Uniswap wallet now available on iOS App Store after initial hurdles

Uniswap, the popular decentralized finance (DeFi) token swap service, has announced that its mobile wallet has been approved by Apple’s iOS App Store. According to the update on the project’s blog, the wallet will now be available for use in several countries, with the aim to extend availability further as Apple allows it. Until recently, Uniswap’s features were mostly aimed at desktop browser users, but the mobile wallet will allow DeFi users to access most of the platform’s features on their mobile devices. However, Uniswap encountered difficulties launching its wallet on iOS devices due to Apple’s strict app store guidelines.

TemDAO World Heritage Project Helps the Cultural Sector through Democracy-Fueled Donations
1 year ago 4 mins read

TemDAO World Heritage Project Helps the Cultural Sector through Democracy-Fueled Donations

Tokyo, Japan, April 11th, 2023 TemDAO is a world heritage project that seeks to protect and preserve cultural assets through donations and democracy. The project, powered by the $TEM token, ensures the long-term sustainability of global cultural sites. Recently, TemDAO has made notable donations for preservation efforts in Ukraine, Turkey, and other regions worldwide. These actions aim to help communities preserve their existence and their global heritage. The team underlines the importance of recognizing the significance of preserving the world’s shared cultural history. TemDAO aims to positively impact global culture through its unique strategy and solutions. The Team’s Strategy for

Senator Warren’s bill seems to unfairly target decentralized finance (DeFi)
1 year ago 2 mins read

Senator Elizabeth Warren Proposes Ban on Cryptocurrency Wallets

Senator Elizabeth Warren of Massachusetts has recently proposed the Digital Assets Anti-Money Laundering Act, which aims to regulate the cryptocurrency industry. While the bill claims to protect consumers from scams, it could do more harm than good by driving cryptocurrency businesses overseas and limiting consumer choice. Additionally, the bill seems to unfairly target decentralized finance (DeFi) and impose unreasonable regulatory burdens on software developers. Warren’s proposal overlooks the fact that not all cryptocurrencies are used for purchases or openly traded. For example, Basic Attention Tokens (BAT) are earned by users of the Brave web browser for watching ads and can

Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System
1 year ago 3 mins read

Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System

Los Angeles, California, 24th March, 2023 DeSo, the decentralized social media blockchain, has introduced a groundbreaking Proof-of-Stake (PoS) system, setting a new standard for the industry. This innovative technology promises to revolutionize and build upon the successes of previous Proof-of-Stake systems, providing greater energy efficiency and security while making its native currency, $DESO, deflationary. Implementing this new Proof-of-Stake system marks a significant milestone for the DeSo Blockchain, a new layer-1 that raised $200 million from Sequoia, Andreessen Horowitz, Coinbase Ventures, and more. DeSo’s state-of-the-art system combines and refines all of the best elements of earlier PoS systems, including Tendermint, HotStuff, DiemBFT,

Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13
1 year ago 1 min read

Euler Finance Takes Action to Block Vulnerable Module and Recover Funds

Euler Finance, a decentralized finance (DeFi) lending protocol, has suffered a flash loan attack resulting in the biggest crypto hack of 2023. The attack led to a loss of nearly $197 million, impacting not only Euler but also 11 other DeFi protocols. In response, Euler disabled the vulnerable etoken module and donation function to block deposits. The company has reached out to leading on-chain analytic and blockchain security firms to help investigate and recover the funds. Euler is also in contact with those responsible for the attack in hopes of negotiating a bounty for the return of the stolen funds.

DeFiChain To Sponsor the National Fighting Championship in Germany
1 year ago 3 mins read

DeFiChain To Sponsor the National Fighting Championship in Germany

Singapore, Singapore, 7th March, 2023 DeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications and services to everyone, is delighted to announce that its community has voted to sponsor the National Fighting Championship (NFC) this year. The NFC is the German version of the widely known UFC, in charge of the mixed martial arts (MMA) fighting league in Germany. NFC is the biggest German MMA league, with the latest NFC event (NFC 10) reaching more than 10 million viewers worldwide. It is hosting six live events in 2023, and each event attracts 2,500-6,000 fans

Aave and Polygon in Governance Talks for Aave's Deployment on Polygon's zkEVM Mainnet
1 year ago 1 min read

Aave Initiates Governance Talks to Launch on Upcoming Polygon zkEVM Mainnet

Decentralized lending protocol Aave is exploring the possibility of deploying an MVP version of Aave version 3 on Polygon’s upcoming zkEVM Layer 2 network. The main aim of the proposal is to establish a strategic Aave presence on the new network early on, after the mainnet beta goes live on March 27. To minimize risks, the proposal recommends onboarding only a limited number of assets and setting conservative risk parameters. It suggests onboarding only three collateral types, including wrapped ETH (WETH) and wrapped MATIC (WMATIC) tokens, as well as USDC stablecoin. Additionally, it proposes including only one borrowable asset, the

Radix Introduce Paradigm-Shifting $300,000 Grants Program to Incentivize Serious DApps
1 year ago 2 mins read

Radix Introduce Paradigm-Shifting $300,000 Grants Program to Incentivize Serious DApps

Jersey, Channel Islands, 28th February, 2023 Radix, the only smart contract platform for asset-oriented web3, has announced the paradigm-shifting Radix Grants Program to incentivize developers to build within its ecosystem. The first developer program to be focused exclusively on Radix, the initiative is open to all serious DeFi and web3 devs considering building on Radix. In addition to funding, teams will benefit from hands-on mentoring and guidance from the Radix team throughout the process. Developers interested in receiving a Radix grant are invited to apply now.  In particular, Radix is looking for projects creating dApps focused around DEXs, lending, stablecoins,

Decentralized finance (DeFi) platform Lendhub
1 year ago 1 min read

Lendhub Protocol Exploiters Reportedly Move $3.85M to Tornado Cash for Anonymity

Decentralized finance (DeFi) platform Lendhub was hacked for $6 million in January, and now, blockchain security firms PeckShield and Beosin have reported that the hackers have sent more than half of their stolen funds to the crypto mixer Tornado Cash. On February 27, PeckShield and Beosin reported that around 2,415 ether, worth $3.85 million, was sent from a wallet connected to the Lendhub exploit to Tornado Cash. Beosin noted that this brings the total amount of funds sent by the exploiter to Tornado Cash since January 13 to 3,515.4 ETH, currently worth over $5.7 million. Tornado Cash is a crypto

Decentralized finance (DeFi) platform Platypus
1 year ago 1 min read

Platypus to Develop Compensation Plan for $8.5M Attack Victims

Decentralized finance (DeFi) platform, Platypus, is developing a compensation plan for its users following an $8.5 million flash loan attack. The attack drained funds from the protocol, leading to the destabilization of its dollar-pegged stablecoin. In response, Platypus took to Twitter to assure users that it is working on a compensation plan and asked them not to sell their assets in the protocol as this could exacerbate the situation. Platypus stated that it is working with several parties, including law enforcement officials, to recover the funds. It also paused asset liquidations while it dealt with the issue. The protocol has

About us

Optimisus is a Dubai-based fintech media company. We cover the latest AI, crypto, NFT, metaverse, blockchain, and Fintech news influencing the crypto industry.

Email: media@optimisus.com

Get Instant Notifications

Join over million readers and get the latest posts delivered straight to your inbox.

© copyright 2024 all rights reserved | Optimisus