Osmosis, a decentralized exchange (DEX) built on the Cosmos network, was halted just before 3:00 am EST on Wednesday after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million. The bug was firstย identifiedย in a Reddit post on the official Cosmos Network page. The user, Straight-Hat3855, brought attention to a โserious problemโ with Osmosis (OSMO) that allowed users to arbitrarily grow LPs by 50% simply by adding and removing liquidity.ย The Reddit post was quickly removed, but not before malicious actors took advantage of the bug, which…
Day: June 9, 2022
DeFi contagion? Analysts warn of โStaked Etherโ de-pegging from Ethereum by 50%
The next big crypto crash could be around the corner due to Lido Staked Ether (stETH), a liquid token from the Lido protocol that is supposed to be 100% pegged by Ethereumโs native token, Ether (ETH). Notably, the stETH peg could drop against ETH by 50% in the coming weeks, raising the risk of a โDeFi contagionโ as Ethereum moves toward proof-of-stake (PoS), arguesย popular Bitcoin investor and independent analyst Brad Mills. Over 1M Ether liability risks default In detail, investors deposit ETH in Lidoโs smart contracts to participate inย The Merge,…
Cryptocurrency Market: Massive Sales Begin As Traders Fear For Great Loss
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Hong Kong Regulator Reminds Investors of Risks Associated With NFTs โ Regulation Bitcoin News
Hong Kongโs securities regulator has warned investors to be wary of risks that are associated with non-fungible tokens (NFTs). The regulator also advised investors to consider investing in NFTs only if they fully understand the risks. NFTs โStraddle the Line Between Collectibles and Financial Assetsโ A Hong Kong regulator has said NFTs face risks that are associated with other virtual assets and investors should not invest in these assets if they do not fully understand such risks. According to a report by Interface News, the Hong Kong Securities Regulatory Commission…
Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate
Anchor protocol was originally designed to offer an interest rate of 3.6% but this was dialed up to 20% just a week before release to attract more investors, a core developer alleged in an interview with Korean media outlet JTBC.ย โI did not know that this would go out with such a high-interest rate. Set to 20% just a week before the release,โ said the employee, referred to only as Mr. B in the Korean-language report. ย โI thought I was going to collapse from the beginning. (I designed it),…
With 12 Key Measures of Prices, Truflationโs Revamped Dashboard 2.0 Independently and Accurately Assesses Real-Time Inflation Rates
Truflationโs newly revamped dashboard provides data on 12 key cost categories to more accurately measure inflation rates as compared to many government consumer price indicators Truflation, a decentralized, blockchain-based inflation index initiative, has announced the release of a new and redesigned UI for its dashboard, complete with a new set of features, functions, and capabilities. This new โDashboard 2.0โ revises the six standard expenditure categories used by many official government consumer price indexes (CPIs) and adds six new categories as well, bringing the total number of cost categories covered by…
The best program in 2022 for bitcoin mining
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‘Father’ of the Metaverse Neal Stephenson launching Metaverse blockchain
Neal Stephenson, the author who coined the term โMetaverseโ 30 years ago is launching a Metaverse-focused blockchain project called LAMINA1. He has also revised his vision for the Metaverse stating the experience is likely to be geared more toward flat 2D screens and rather than virtual reality or augmented reality tech such as headsets and lenses, as in the model posited by Meta and Microsoft. Stephenson is a popular speculative fiction author who explored the concept of a virtual reality world called the Metaverse in his sci-fi novel Snow Crash…
Ethereum Eyes Strong Reversal, Why Dips Could Be Limited
Ethereum is showing positive signs above $1,720 against the US Dollar. ETH could start a strong increase if there is a clear move above the $1,850 resistance. Ethereum remained well supported above the $1,720 support zone. The price is now trading below $1,820 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a strong increase if there is a clear move above the $1,850 resistance zone.…