A dramatic spike in yield farming activity associated with SushiSwap and similar protocols has seen Uniswap become the first decentralized exchange (DEX) to exceed $1 billion in 24-hour trade volume. According to crypto data aggregator CoinGecko, Uniswap V2 is currently the third-largest exchange by normalized trade volume with $1.02 billion worth of ERC-20 tokens changing hands over the past day. CoinGecko ranks Uniswap below only Binance and OKEx, who represent $6.25 billion and $1.10 billion in daily trade respectively. The decentralized exchange is now beating out major centralized platforms like…
Day: September 3, 2020
Indian prime minister the latest victim of crypto scam Twitter hack
Hackers took over one of the Twitter accounts linked to Indian Prime Minister Narendra Modi and posted messages asking his followers to make crypto donations. According to a report from news outlet India Today, Modi’s Twitter account narendramodi_in, which is associated with his personal website and mobile app, was targeted by a group of hackers operating under the alias ‘John Wick.’ Several Tweets were posted on Sept. 2 telling the prime minister’s 2.5 million followers to ”donate generously to PM National Relief Fund for Covid-19.” At least two wallet addresses…
Vitalik Buterin reveals why a 51% attack on ETH 2.0 ‘would not be fatal’
Ethereum co-founder Vitalik Buterin has dismissed concerns that a 51% attack on Ethereum 2.0 would be ‘fatal’. The scenario emerged as a result of the burgeoning popularity of Yearn.finance’s yETH vault which has already amassed more than 137,000 ETH on its first day. Arcane Assets’ Chief Intelligence Officer Eric Wall suggested this mean the yETH vault admins will probably end up controlling enough Ether to theoretically launch an attack on Ethereum 2.0: ITT: We come up with fun ways yETH vault strategists can take advantage of the fact that yETH…
Researchers identify 10 security flaws with SushiSwap
Blockchain security firm Quantstamp has published a security review of hyped DeFi protocol SushiSwap, identifying ten issues with the platform. The good news is the issues with the Uniswap fork aren’t likely to be fatal — unlike the critical bug that took out YFI clone YAM after 48 hours. The researchers identified two medium risk, three low risk, and five informational issues with the code. Among the concerns identified were errors failing to prevent the same liquidity provider token from being added more than once — risking disruptions to reward…
DeFi meme coin Hotdog dumps 99.9% in hours after launch
The latest high-yield, food-flavored DeFi meme project, Hotdog, appears to have crashed and burned just hours after it was launched. The latest high-yield promising food-flavored DeFi meme project, Hotdog, appears to have crashed and burned just hours after it was launched. The newly cloned DeFi protocol called Hotdog promised insane returns up to one million percent APY in order to lure liquidity providers. It is yet another doppelganger of the popular token swap and liquidity platform Uniswap, and follows in the footsteps of the recently launched Sushi and Kimchi platforms.…
Europe’s Revolut app now offers crypto trading for Aussie users
After opening its doors to Australians last month, one of the largest brokerage firms in Europe is now offering crypto trading services. U.K.-based money app Revolut announced on Sept. 3 that its tens of thousands of Australian customers are now able to buy, sell, and hold crypto assets. Users can convert their fiat into Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, and Stellar (XLM). Revolut stated that its ‘Metal plan’ customers could now transfer digital assets to other users, as well as exercise the option to round…
ETC Labs believes regulation is the key to preventing future 51% attacks
Responding to numerous 51% attacks on the Ethereum Classic blockchain, ETC Labs said that it’s time to bring regulation to hashpower rental marketplaces, citing the fact that at least two of the attacks were perpetrated by renting hash power through NiceHash — a claim that has been confirmed by both NiceHash and ETC Labs. ETC Labs CEO Terry Culver also shared with Cointelegraph that according to the information that was provided by CipherTrace, which was hired to investigate the attacks, the attackers used proceeds from the first attack to rent hashpower…
Blockchain voting hailed a success at Michigan Democrat convention
Despite its history of security and technical issues, blockchain voting platform Voatz has reportedly been deployed successfully at the Michigan Democratic Party State Nominating Convention. More than 1,900 delegates at the virtual convention, held from Aug. 29-30, were able to nominate candidates using Voatz for the state’s Supreme Court, state Board of Education, and boards at state universities. The event was held online due to restrictions caused by the pandemic. “There were so many unique challenges with this year’s convention because of the pandemic, but the Voatz platform eased many…
Heads of Binance.US and eToro grace Fortune’s top 40 under 40 list for 2020
Fortune picked out a number of individuals deemed as most influential for 2020, listing 40 different names across five separate sectors. Binance.US CEO, Catherine Coley, and eToro CEO Yoni Assia found their names on the list, published on Sept. 2, under the finance section. Technology, politics, healthcare and media made up the other sections, each holding the top 40 people under the age of 40 — putting a total of 200 individuals on the list across all sectors. Binance.US serves as the United States’ regulatory-friendly crypto trading option under exchange powerhouse…