Month: June 2023

New Web3 ID app lets users find each other based on proven interests

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A Web3 app launched on June 27 lets users prove their social credibility using blockchain technology, according to an announcement from the app’s development team. Called “Quivr,” it lets users connect apps they regularly use, such as Spotify, Steam, Apple Music and others. Based on their behavior in these apps, Quivr generates blockchain badges that prove their interests or membership within communities, which can then be used as a way of identifying users who have common interests. Quivr has launched on the Apple App Store, with an Android and web…

Yield Protocol declares full recovery from Euler hack, awaits user token exchange

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Yield Protocol announced on June 27 that it had fully recovered from the Euler flash loan attack. Liquidity providers can now update their strategy tokens, the protocol said on Twitter. That was the last step to protocol restoration after “a long journey.” Yield Protocol was one of the 11 decentralized finance protocols that suffered losses after the attack on the noncustodial lending protocol Euler Finance. It paused mainnet borrowing after the hack on March 13 and claimed losses from its liquidity pools were under $1.5 million. Euler lost over $195…

Over $204M was lost in Q2 DeFi hacks and scams: Report

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Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods. Funds lost and recovered in Q2 2023. Source: De.Fi According to the report, the number of DeFi hacks in Q2 rose by…

Nevada Places Crypto Custodian Prime Trust Into Receivership

Prime Trust entered an agreement with Fireblocks to have the latter company manage its crypto assets, which was completed in 2020. In 2021, after Prime Trust saw new management, it set up “legacy wallet forwarding,” for wallets that were either on Fireblocks’ platform or set up to forward to wallets on Fireblocks’ platform, the filing said. However, in December 2021, Prime Trust “discovered that it was unable to access” its legacy wallets or cryptocurrencies held in those wallets. Source

Judge says arguments behind SBF’s motions to dismiss criminal charges are ‘moot or without merit’

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A federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF) has denied motions from his legal team seeking to dismiss all but three criminal charges against him. In a June 27 filing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan issued a memorandum opinion on motions that would have stopped the discovery and disclosure of certain information related to SBF’s criminal case. Bankman-Fried’s legal team filed motions on May 8 aiming to have the judge dismiss 10 out of…