Browsing:DeFi

The funds from the Wormhole hack of $325 million have been linked to a leveraged bet on LidoDAO's staked ETH (stETH).
1 year ago 1 min read

Hacker Acquires stETH on Large Margin using Wormhole

The funds from the Wormhole hack, which was the largest inter-blockchain bridge loss of $325 million, have been linked to a leveraged bet on LidoDAO’s staked ETH (stETH). The thief used a series of looping transactions with LidoDAO’s stETH and MakerDAO’s DAI to become the world’s fifth-largest stETH holder. Chainalysis detected the first movements of the stolen Wormhole Ether on January 30, 2023. The stolen funds were converted into stETH and used as collateral to borrow DAI, which was used to buy more stETH in a repeating process. The upgraded Ethereum’s Beacon Chain will allow withdrawals, and LidoDAO plans to

Solana-based Everlend
1 year ago 1 min read

Solana’s Everlend Protocol to Close Down

Solana-based DeFi platform, Everlend, has announced that it is shutting down due to a lack of liquidity and a shrinking borrowing and lending market. The project mentioned that even with sufficient runway, continuing to operate and develop the protocol would be a “gamble.” Everlend has switched to withdrawal-only mode and encouraged users to remove their deposited funds. The codebase for the protocol will become open-source, allowing anyone to continue the work. The liquidity squeeze faced by Everlend is attributed to the DeFi ecosystem on Solana moving away from Serum, which was the main liquidity provider for nearly all projects on

BNB Chain and Fellaz Team Up to Bring NFT Ticketing to Ultra Music Festival in Abu Dhabi
1 year ago 5 mins read

BNB Chain and Fellaz Team Up to Bring NFT Ticketing to Ultra Music Festival in Abu Dhabi

Abu Dhabi, UAE, 2nd February, 2023 A major step forward in using mainstream blockchain technology in the entertainment industry, offering a secure and convenient way for music fans to buy and manage tickets BNB Chain, the world’s largest smart contract blockchain in terms of daily active users, and Fellaz, a leading Web3 entertainment ecosystem, have announced the launch of a blockchain-based ticketing solution for Ultra Abu Dhabi, the premier EDM music festival, set to take place on March 4 and 5, 2023. The cutting edge ticketing solution powered by BNB Chain will verify the authenticity of tickets, ensuring legitimacy. The collaboration will allow for

Mango Markets
1 year ago 1 min read

Mango Markets Exploiter Facing Regulatory Consequences, Says Moody’s

Moody’s credit rating firm has stated that recent charges against Mango Markets exploiter Avraham Eisenberg will have a positive impact on the decentralized finance (DeFi) space. The enforcement actions by the SEC and CFTC in January show that DeFi is becoming a safer and more regulated environment. Moody’s sees this as a credit positive for the industry and could lead to wider adoption among institutional and retail investors. The firm suggests that DeFi is no longer a “no man’s land” and that with the potential for a safer environment, it could attract more investors. The CFTC filed charges against Eisenberg

Nostr decentralized social network
1 year ago 1 min read

Nostr Unveils Mobile App Damus for Decentralized Social Networking

Nostr, the decentralized social network, has finally launched its mobile app, Damus, on Feb. 1. The app is now available for download on both Google Play and the App Store. The launch was greeted with enthusiasm by Twitter co-founder Jack Dorsey, who called it a “milestone for open protocols.” Dorsey had previously donated Bitcoin to Nostr protocol and made reference to it in his Twitter bio. Damus operates like Twitter and gives users complete control over their data. Unlike traditional social media apps, Damus doesn’t require a KYC process, and all messages are secured with end-to-end encryption. The launch of

Pfizer Ventures Invests in VitaDAO's Longevity Research with $4.1M Funding
1 year ago 1 min read

VitaDAO Secures $4.1M Investment from Pfizer Ventures for Longevity Studies

VitaDAO, a Decentralized Autonomous Organization (DAO) focused on longevity research, has closed a $4.1 million funding round led by Pfizer Ventures. The funding round also includes contributions from Shine Capital, L1 Digital, BeakerDAO, Spaceship DAO, former Coinbase CTO Balaji Srinivasan and Retro Biosciences’ Joe Betts-LaCroix. VitaDAO was founded in 2021 with the aim of funding research into diseases of aging and cellular biology, and has deployed over $3.5 million towards these goals. The latest funds will be used to fund longevity research projects and to incubate VitaDAO’s first biotech startup. The group is governed by its native VITA token, and

BlockFi
1 year ago 1 min read

BlockFi Authorized to Organize Mining Auction

BlockFi, the bankrupt crypto lending platform, has received court approval to auction its Bitcoin mining business. The company has received bids for its assets and is expected to receive more due to favorable market conditions. BlockFi’s assets include ASICs (mining computer hardware) and the bids for these assets are due by Feb 20, with an auction to be held a week later. Bitcoin’s recent rise in price has brought Bitcoin miners back into the profit zone, making BlockFi’s ASICs more attractive to buyers. BlockFi filed for bankruptcy in November after the collapse of FTX and Alameda Research to which it

CreamFinance hacker has transferred 365.7 ETH ($600000)
1 year ago 1 min read

CreamFinance Suffers Major Loss as Hackers Transfer Over $3.26 Million in Ethereum

An anonymous address suspected of exploiting CreamFinance, a decentralized finance platform, transferred 365.7 ETH ($600,000) to TradeOgre crypto exchange. The address has transferred a total of 2,070 ETH ($3.26 million) to TradeOgre since January 9, 2023. The nature of the exploitation and identity of the exploiter remain unknown, and CreamFinance has yet to issue a statement. The transfers to TradeOgre suggest the exploiters are trying to liquidate their gains. The incident highlights the vulnerability of DeFi platforms and the potential for financial losses for users, as well as raises questions about security and oversight of decentralized systems. As the DeFi

Baidu unveils AI chatbot rivaling OpenAI's ChatGPT
1 year ago 1 min read

Baidu to launch AI chatbot challenging ChatGPT

China’s largest search engine company, Baidu, plans to launch an AI chatbot service similar to OpenAI’s ChatGPT in March. The tool, which has yet to be named, will be initially embedded in Baidu’s main search services and allow users to get conversation-style search results. Baidu has invested billions of dollars in AI research in recent years and its Ernie system, a large-scale machine-learning model, will serve as the foundation for the new chatbot. OpenAI’s ChatGPT gained widespread attention after its public debut in November and sparked a debate about the role of AI. Baidu, along with other Chinese tech giants,

GAIN Expo, May 04-05, Amsterdam, The Netherlands
1 year ago 1 min read

GAIN Expo, May 04-05, Amsterdam, The Netherlands

Not every leader is an innovator. But every innovator is a leader. On May 4–5, Amsterdam will be held the first event dedicated to innovation in the game industry. The exhibition will feature over 50 exhibitors who want to share their innovative products and developments.   How to use it? What is the interest? Why do you need to integrate it into your business now?   Take everything you have about NFT, AI, Metaverse, and AI – register and participate in the biggest innovation platform around the gaming industry.  In Two-day event will take part:  key software manufacturers  game developers  blockchain tech

Fluidity DeFi
1 year ago 1 min read

Fluidity Introduces a Fair Rewards System for True DeFi Participants

A new project named Fluidity aims to change the way crypto coins are handed out for different projects. Instead of rewarding mercenary farmers, Fluidity wants to pay people for actually using a protocol. The project works by allowing users to deposit a stablecoin into the Fluidity protocol and receive a Fluidity-wrapped token (fToken) in return. The stablecoin is then deposited into a yield-earning protocol like Aave or Compound, and the fToken can be used to buy NFTs, make simple transfers, or join liquidity pools. The more the fToken is used, the higher the chances of winning a payout, which is

Avraham Eisenberg is facing a legal battle with the Solana-based DEX
1 year ago 1 min read

Mango Labs Takes Legal Action Against Alleged Hacker Eisenberg

Avraham Eisenberg is facing a legal battle with the Solana-based decentralized exchange (DEX) Mango Markets over a “profitable trading strategy” he allegedly used to exploit a vulnerability on the platform and take advantage of the exchange’s users. In October 2022, the trading platform reported an anomaly and took precautionary measures to protect users’ funds. The hacker was identified as Avraham Eisenberg and the U.S. Department of Justice arrested him for carrying out a $110 million exploit of the exchange. The Securities Exchange Commission (SEC) has charged Eisenberg with securities manipulation, and the Federal Bureau of Investigation (FBI) and the Commodities

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