Tag: DeFi

BIS and France, Switzerland, Singapore Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi

CryptoX – Cryptocurrency Analysis and News Portal Project Mariana’s proof of concept used a hypothetical euro, Singapore dollar and Swiss franc wCBDCs between simulated financial institutions. The project relied on “a common token standard on a public blockchain which facilitates interoperability and seamless exchange of wCBDC across varied local payment and settlement systems maintained by participant central banks,” an accompanying press release said. Source The post BIS and France, Switzerland, Singapore Central Banks Successfully Test Cross Border Trading of Wholesale CBDC Using DeFi appeared first on CryptoX. CryptoX Portal

hackers from country with no internet threaten defi

While not much is known about the Lazarus Group, researchers have attributed numerous cyber attacks to them over the past decade, as well as ties to Russia. The most notorious crimes of Lazarus Group The Lazarus Group (also known as the Guardians of Peace or the Whois Team) is a cybercriminal group with an unknown number of hackers.  One of the earliest attacks is known as “Operation Troy”, which took place from 2009–2012. In 2014, Lazarus attacked Sony Pictures Entertainment and stole over 276 thousand company files, immediately appearing on…

Mixin Network temporarily halts operations following $200m defi exploit

Mixin Network has temporarily suspended its deposit and withdrawal services following a major attack, jeopardizing over $200 million in crypto assets. A defi protocol Mixin Network has verified a report from blockchain security firm SlowMist, confirming a hack involving over $200 million. 🚨SlowMist Security Alert🚨 On September 23, the Mixin Network cloud service provider database was attacked, the amount of funds involved was ~ $200M. SlowMist is assisting in the investigation. Please wait for @MixinKernel updates for more information. — SlowMist (@SlowMist_Team) September 25, 2023 According to a statement released…

Ethereum Staking Will Decentralize DeFi

Enter crypto staking yields, or more specifically, “post-Shapella” staking yields. Since the Shapella upgrade of the Ethereum network, users can stake and unstake their ether (ETH) at will, significantly de-risking staked ETH from a liquidity standpoint. This has been reflected in the staked ether, or stETH, discount to ETH, barely dipping past 30 bps since Ethereum’s last major upgrade. Before the Shapella upgrade, stETH was a poor collateral asset due to its illiquidity and discount volatility. Now that stETH has been derisked, we have seen it overtake ETH as the…

DeFi Platform Mixin Network Faces $200 Million Crypto Hack

Mixin Network immediately suspended the deposits and withdrawals stating that they would soon announce their decision to deal with the lost assets. Earlier today, the decentralized finance (DeFi) project Mixin Network announced the suspension of all deposits and withdrawals after losing $200 million in crypto assets in a recent hack. The SlowMist team was the first to report this incident. It also noted that the breach happened through a compromise in Mixin’s cloud service database. During the hack, Mixin had $94.48 million worth of Ether (ETH), $23.55 million in Dai…

DeFi activity on the decline, but investment rolls in: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A new analysis by investment management fund VanEck revealed that economic activity in the DeFi sector dropped 15.5% in August. Blockchain Capital, on the other hand, announced two new crypto-focused funds totaling $580 million. Balancer protocol blamed its recent exploit on its DNS service provider, claiming that a vulnerability in the code allowed the exploiters to hijack the front end, and Chainlink…

Balancer DAO salutes defi response team for aid in $230K UI exploit

Balancer DAO, a decentralized autonomous organization governing the protocol, protocol thanked a team of security experts for their help following a DNS attack on a top level .fi domain registrar employed by Balancer. Balancer DAO called attention to SEAL 911, a Telegram bot built during the Curve Wars that ensued following the Curve Finance exploit. The bot operates as an emergency channel that connects users and protocols to a pool of vetted defi security experts. The Balancer DAO would like to express its heartfelt gratitude to all ecosystem members who…

Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

After the XRP token recorded an all-time high in daily trading volumes for crypto exchanges in the US, the Ripple ecosystem has achieved a new milestone, successfully hitting over 82 million registered ledgers on its XRP Ledger.  XRP Ledger Surpasses 82 Million Ledgers XRP Ledger, a decentralized public blockchain backing the XRP token has gained recognition for its unique consensus algorithm and incorporation of the XLS-20 protocol. The leading cryptographic ledger reported that it had closed approximately 82,035,421 registered ledgers on its blockchain.  This achievement follows another milestone in August…