On-chain data appears to show the attacker has stolen over $200,000 from users. Source
DeFi Protocol Balancer Says Web Front End Is ‘Under Attack’
Tag: DeFi
DeFi protocol Balancer frontend is under attack, $238K crypto stolen
Balancer, an Ethereum-based decentralized finance protocol has confirmed its user interface is currently “under an attack.” The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer’s protocol until further notice. The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice! — Balancer (@Balancer) September 19, 2023 Balancer said the details of the attack are under investigation. The firm hasn’t confirmed whether user funds are safe at this…
U.S. SEC’s Crypto Enforcement Chief Warns More Charges Coming to Exchanges, DeFi
The U.S. Securities and Exchange Commission (SEC) isn’t done chasing down crypto exchanges and decentralized finance (DeFi) projects it sees as violating securities laws in the same vein as Coinbase Inc. (COIN) and Binance, said David Hirsch, head of the agency’s Crypto Assets and Cyber Unit. Source
Blockchain Capital closes funds totaling $580M for investments in crypto gaming, DeFi
Venture capital group Blockchain Capital announced the closing of two new funds, totalling $580 million, for investment in infrastructure, gaming, DeFi and consumer/social technologies. The funds will operate as Blockchain Capital’s sixth early stage fund and its first “opportunity fund,” with the latter serving as an inroad to companies who’ve already secured major funding elsewhere. We’re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment to leading the global…
Blockchain Capital secures $580m funding for defi and crypto gaming ventures
Blockchain Capital secures a record $580 million in new funding to invest in emerging and later-stage crypto initiatives, focusing on decentralized finance, gaming, and blockchain infrastructure. The freshly obtained investment will be channeled towards budding and innovative startups specializing in diverse crypto sectors. This includes the trending decentralized finance (DeFi), crypto gaming, and the foundational infrastructure of these domains. We’re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment…
DeFi economic activity drops 15% in August —VanEck
The decentralized finance (DeFi) ecosystem has suffered more setbacks in August as on-chain economic activity dwindled. According to an analysis from investment manager firm VanEck, exchange volume declined to $52.8 billion in August, 15.5% lower than in July. The findings are based on VanEck’s MarketVector Decentralized Finance Leaders Index (MVDFLE), which tracks the performance of the largest and most liquid tokens on DeFi protocols, including Unisawp (UNI), Lido DAO (LDO), Maker (MKR), Aave (AAVE), THORchain (RUNE), and Curve DAO (CRV). The DeFi Index underperformed Bitcoin (BTC) and Ether (ETH) in…
Coinbase CEO stands up for DeFi, Polygon says $1B ZK-rollup paying off: Finance Redefined
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. The past week in DeFi saw Coinbase CEO stand up for the nascent ecosystem amid growing calls for enforcement action, while Polygon CEO has said that its $1 billion zero-knowledge proof rollup bet is paying off. MakerDAO’s founder believes decentralized stablecoins could dominate crypto, while Solidus Labs says decentralized exchanges have become a magnet for wash trading. The top 100 DeFi tokens…
Coinbase (COIN) Profited Due to Curve DeFi Hack, but the Crypto Exchange Hasn’t Given Victims the Money
One of the pools drained in the attack contained ether (ETH) and alETH, an ether derivative issued by Alchemix, a DeFi lending platform. Before the attack, the pool held 7,259 ETH and 4,822 alETH, Alchemix said. Then, the exploiter drained the majority of the tokens, leaving only 1 ETH and 3,856 alETH. Source
DeFi as a solution in times of crisis
The 2020s have been a challenging decade so far, yet the transformative power of blockchain technology offers a better path forward. Born from crisis Around the globe, times are tough for many everyday people. Increases in cost of living minimized any growth in wages last year as inflation continues to take its toll. Additionally, world powers such as China and Russia are increasingly challenging the dominance of the USD as geopolitical tensions flare up. In this precarious new world, decentralized cryptocurrencies can potentially be a source of stability and freedom.…
Google Cloud teams up with Web3 startup to make DeFi mainstream
Google Cloud has joined forces with a Web3 startup to develop user-centric developer tools for decentralized finance (DeFi) to lower the barrier of entry into the decentralized world. The DeFi infrastructure provider Orderly Network has teamed up with Google Cloud to develop off-chain components of DeFi infrastructure focused on tackling self-custody and transparency challenges. Orderly will be a DeFi infrastructure provider, available on Google Cloud Marketplace. Google Cloud told Cointelegraph that the partnership was struck in light of increasing interest from clients exploring blockchain workloads on Google Cloud. Rishi Ramchandani,…