Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed. With the pause, users will not be able to deposit Yearn.finance’s YFI (YFI), 0x’s ZRX, Basic Attention Token (BAT) and Maker’s MKR (MKR) as collateral to take loans. The proposal passed on Oct. 25 with 99% of all voters in favor.…
Day: October 25, 2022
After Mango Market exploit, Compound pauses four tokens to protect against price manipulation
Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit from Mango Market’s, according to a proposal on Compound’s governance forum. With the pause, users will not be able to deposit yearn finance (YFI), 0x (ZRX), basic attention token (BAT) and maker (MKR) tokens as collateral to take loans. The proposal passed on Oct. 25 with 99% of all voters in favor. It stated: “An oracle…
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Chinese agents used Bitcoin transactions through Wasabi to allegedly bribe US government employee
The United States Department of Justice has announced charges against two Chinese intelligence officers who allegedly bribed a double agent with Bitcoin. In an Oct. 24 announcement, the Justice Department said Guochun He and Zheng Wang attempted to obstruct the prosecution of an unnamed global telecommunications company based in China, which allegedly involved paying a U.S. government employee roughly $61,000 in bribes using Bitcoin (BTC). However, the individual was a double agent working on behalf of the Federal Bureau of Investigation and did not move against authorities in the Eastern…
Phishing Scammer Has Drained $1M in Crypto and NFTs in Past 24 Hours, Says On-Chain Sleuth
The two biggest victims, 0x02a and 0x626, lost a combined $370,000 after signing transactions on phishing sites run by the prolific scammer, according to ZachXBT. More specifically, 0x02a reportedly lost 1 Bored Ape Yacht Club (BAYC) collection, 1 CloneX, 36,000 USDC and 12 other non-fungible tokens (NFTs) worth in total around $150,000. Source
Yuan Taps New Low Versus US Dollar as Investors React to Endorsement of Chinese President’s Third-Term Bid – Economics Bitcoin News
The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as the reshuffle of his top team, are said to have sparked a sell-off of stocks that wiped billions from the wealth of China’s super rich. Chinese Yuan Has Depreciated by 7% Since Late August The…
MakerDAO community votes to approve custody of $1.6B USDC with Coinbase
Institutional prime broker platform for crypto assets Coinbase Prime announced on Oct 24th that it had entered into a partnership with MakerDAO — the largest single holder of USDC — to become a custodian of $1.6 billion worth of the stablecoin. The MakerDAO community voted to approve this custodianship which will allow its community to earn a 1.5% reward on its USDC while holding funds with a leading institutional custodian. The program described the following yield schedule for the USDC onboarded by @MakerDAO: • 1% APY on the first 100…
Bitcoin Miner CleanSpark Hikes 2022 Hashrate Guidance by 10%
Most recently, CleanSpark bought competitor Mawson Infrastructure Group’s (MIGI) mining facility in Sandersville, Georgia, and 6,468 latest-generation mining rigs for up to $42.5 million. The company also purchased 10,000 new Bitmain Antminer S19j Pros for $28 million – a significant markdown from the manufacturer’s listed price. Original
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Bitcoin supera los US$20K y ether alcanza su pico más alto desde la fusión
Sin embargo, Tom Dunleavy, analista de investigación en la firma de análisis de cripto Messari, afirmó que una posible regulación será más importante que las tendencias de las tasas de interés a corto plazo. La semana pasada, el fundador y CEO de FTX, Sam Bankman-Fried, propuso una serie de directrices regulatorias para los Estados Unidos. Source