Day: October 19, 2022

Defi Platform Moola Exploited for $8.4 Million in Incident Described as ‘Incredibly Simple Attack’ – Security Bitcoin News

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Moola, a decentralized finance (defi) lending and borrowing platform, was recently exploited for $8.4 million in what has been described as an “incredibly simple attack.” Moola responded to the attack by pausing all activity on the platform. The defi platform also told the attacker(s) it was willing to negotiate a “bounty payment in exchange for returning the funds within the next 24 hours,” and Moola Market has since claimed that “93.1% of funds have been returned to the Moola governance multi-sig.” Funds Siphoned From Moola The decentralized finance (defi) lending…

Celestia Labs Raises $55M to Build Modular Blockchain Network

“For the past decade, crypto has been bottlenecked by an endless loop of new monolithic [layer 1] smart contract platforms, each racing to the bottom to sacrifice decentralization and security to provide cheaper transaction fees,” said Celestia Labs co-founder Mustafa Al-Bassam. “Web3 cannot scale within the constraints of a monolithic framework.” Source

Most institutional investors hold or plan to buy cryptocurrencies: Survey

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The latest survey carried out by Cointelegraph Research among 84 professional investors across the globe revealed that out of $316 billion in assets managed by the respondents, 3.3%, or approximately $10.42 billion, is invested in cryptocurrencies. Some surveyed investors reported over 50% exposure to digital assets, but respondents’ median percentage invested in cryptocurrencies stands at about 3%. The risk-return ratio was the primary consideration when investing in crypto, as 44% of respondents rated this characteristic as “highly important.” Other factors deemed relatively less important were “diversification” and “my company is…

Binance Becomes Second-Largest Voting Entity on Uniswap DAO

A group of core developers maintains the Uniswap codebase, but key protocol decisions are governed by the Uniswap DAO, or decentralized autonomous organization, which grants users voting rights according to how many UNI tokens they hold. Users may also “delegate” their tokens to other entities, thereby enabling those entities to vote on their behalf. Source

ShapeShift moves closer to full decentralization with open-source mobile app

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ShapeShift, a noncustodial crypto exchange and decentralized autonomous organization (DAO), has taken additional steps toward complete decentralization by migrating users to a new open-source application — a move the organization said would enhance user mobility. The organization announced that as of Oct. 19, all native web users of the ShapeShift platform have migrated to a decentralized version of the application. The announcement also coincided with the release of a new mobile app that the organization said would provide an “authentic DeFi universe” experience. The new mobile app is said to…

South Africa Classifies Crypto Assets as Financial Products

The change, which takes effect immediately and falls under the Financial Advisory and Intermediary Services Act, 2022, comes as countries around the world are moving to regulate cryptocurrencies more strictly, particularly amid the recent volatility in prices and the collapse of several important crypto firms. Original Source AfricaAssetsClassifiesCryptoFinancialProductsSouth CryptoX Portal

XMR Moves to 10-Day High, AAVE Remains Near 5-Week Peak – Market Updates Bitcoin News

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Monero raced to its highest point in ten days, as the token moved past a key resistance level on Wednesday. Today’s move sees the token rise higher for a fourth consecutive day, following a rebound from its long-term floor. Aave was also in the green, as it remained close to a five-week peak. Monero (XMR) Despite cryptocurrency markets mostly trading lower on Wednesday, monero (XMR) was one of the exceptions, as it extended recent gains. XMR/USD surged to an intraday peak of $148.46 earlier in today’s session, which comes less…

Ripple (XRP) Clings To Support As Bearish Divergence Plays Out; Will $0.44 Hold?

XRP’s price struggles to hold above key support as the price needs to hold above $0.44 to maintain its bullish run.  XRP continues to struggle as bearish divergence appears on the daily timeframe suggesting a change in trend could be imminent.  The price of XRP continues to trade below the 200 Exponential Moving Average (EMA) as 50 EMA acts as support on the daily timeframe.  The price of Ripple (XRP) in the past few weeks has seen more traction as the price showed strength rallying from its weekly low to…

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