Tag: DeFi

Uniswap’s $165 Million Series B Capital Raise One of the Largest by a Crypto Firm in 2022 – Defi Bitcoin News

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Uniswap Labs, the firm behind the Uniswap decentralized exchange protocol, announced on Thursday that it raised $165 million in a Series B funding round. According to one report, the capital raise, which sees Uniswap Labs’ valuation rise to $1.66 billion, is the largest by any crypto firm in 2022. Uniswap Completes $165M Capital Raise, Decentralized Exchange Reveals NFT Launch Uniswap Labs, the creator of the decentralized exchange (dex) Uniswap protocol, recently said it had raised $165 million via a Series B funding round. The funding round was led by Polychain…

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io What do you think of the 9 low-cap altcoins I picked? [Watch The Whole Video] Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! Original Top 6 Altcoin Video: Follow us on Twitter: Timestamps: 0:00 – Introduction (Watch the WHOLE Video) 1:07 – Altcoin #1 3:25 – Altcoin #2 5:58 – Altcoin #3 7:28 – Altcoin #4 8:31 – Bonus Coin #1 9:01 – Bonus Coin #2 9:53 – Altcoin #5 11:15 –…

Hodlers prefer centralized exchanges over DeFi for security: Chainalysis

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Security remains a perennial concern for DeFi protocols, but DeFi will still inevitably “grow and flourish,” Bitfinex chief technology officer Paolo Ardoino believes. Despite the rise of decentralized finance (DeFi), cryptocurrency investors appear to be sticking to centralized exchanges (CEXs) over DeFi tools, according to a new report. Crypto investors are more comfortable holding their assets on CEXs because decentralized exchanges are still more vulnerable to the threat of hacks. This is according to a joint report by the blockchain data firm Chainalysis and Bitfinex exchange, issued on Oct. 13.…

From neglecting security to bad tokenomics, DeFi has played a hand in its own decline

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Tokenomics aimed at financing worthless models, rampant hacks, and a lack of real-world utility have played a role in the beleaguered crypto market’s decline. Decentralized finance (DeFi) led cryptocurrency’s rapid growth in early 2021, but the crypto market has since plummeted in value. Global markets have played a role, but so has recklessness among developers when it comes to both cybersecurity and (often self-serving) inflationary token models. Too much DeFi has been based on tokens minted from nothing or tokens that finance other tokens at high interest rates, with no…

Cómo la manipulación de mercado llevó a un exploit de US$100 millones en el exchange DeFi de Solana Mango

En total, el perspicaz trader usó más de 10 millones de USDC para retirar más de US$116 millones desde Mango pagando comisiones mínimas y haciendo todo lo permitido dentro de los parámetros del diseño de la plataforma. Mango no fue hackeada, funcionó exactamente como debía, y un trader ingenioso, aunque con intenciones nefastas, logró arrancar la liquidez de los tokens. Source

Solana-Based Defi Protocol Mango Markets Loses $117 Million in Hack, Exploit Allegedly Revealed in Project’s Discord in March – Bitcoin News

According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol. An analysis of the hack published by Certik explains that the attacker manipulated the price of the project’s native token mango (MNGO) which allowed them to borrow $117 million against the exploited collateral. Mango Markets Hacked for $117 Million, Blockchain Security Firm Summarizes the Attack Vector On Tuesday, the Solana-based Mango Markets platform was hacked for $117 million. The team tweeted about the…

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Decentralized ID the key to mainstream DeFi adoption—Quadrata co-founder

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Decentralized identities would open Web3 to a range of services requiring personal information and allow platforms to offer tailored products, according to the CEO of Quadrata. Decentralized identity (DID) and compliance services will become a “key infrastructure” to the success of decentralized finance (DeFi) and the transition of real world financial assets onto the blockchain according to Fabrice Cheng, CEO and co-founder of Quadrata. Speaking with Cointelegraph, Cheng said the key driver behind the demand for DID will come from Web3 protocols, which will utilize the DID of users to…

$100M drained from Solana DeFi platform Mango Markets, token plunges 52%

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The platform’s treasury was drained of over $100 million worth of cryptocurrency after an attacker manipulated price data of its native token to take out loans against their holdings. Solana (SOL) based decentralized finance (DeFi) exchange Mango Markets has been hit with a reported exploit of over $100 million through an attacker manipulating price oracle data, allowing them to take out under-collateralized cryptocurrency loans. The exploit was first identified by blockchain security firm OtterSec which tweeted the exchange had been drained of over $100 million due to the attacker manipulating…