Tag: DeFi

DeFi vulnerability leading to $6.7M exploit ‘not detected’ by auditors

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Decentralized U.S. dollar stablecoin protocol Raft claims that despite multiple security audits, the firm still suffered a security exploit leading to the loss of $6.7 million last week. According to the project’s Nov. 13 post-mortem report, a few days prior, a hacker borrowed 6,000 Coinbase-wrapped staked Ether (cbETH) on decentralized finance protocol Aave, transferred the sum to Raft, and minted 6.7 million Raft stablecoin, dubbed “R,” using a smart contract glitch. The unauthorized minted funds were then swapped off the platform through liquidity pools on decentralized exchanges Balancer and Uniswap,…

The Trading Tools Institutions Need to Enter DeFi

The necessary technology is falling into place, and the industry has the right intentions — and so, hopeful, an influx of capital will soon follow. However, this time we must ensure is that DeFi’s growth remains sustainable, and this can only happen if it stays on the right side of the law and if institutions meet the obligations of their stakeholders. Source

Crypto VC firm Spartan Capital invests in Pendle to drive DeFi growth

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Singapore-based digital asset investment firm Spartan Group has announced investment in the decentralized finance (DeFi) protocol Pendle Finance (PENDLE). After actively supporting Pendle since its launch in 2021, Spartan Group’s crypto venture capital arm Spartan Capital has made a follow-on investment in Pendle Finance through an over-the-counter, or OTC, purchase. The firm emphasized that Spartan and Pendle have had a strong partnership since the DeFi’s project inception, noting that the latest investment aims to support the project in its further ambitions. “At Spartan Capital, we recognize the transformative potential of…

Bitget integrates DeFi aggregator into crypto exchange app

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Crypto exchange Bitget has integrated a decentralized finance (DeFi) aggregator into its crypto exchange application, allowing users to swap their tokens and access DeFi services through its Web3 Wallet. According to Bitget, the effort aims to provide users with options for trading their crypto assets on the exchange. The app will also gradually include other services, including a noncustodial wallet, a nonfungible token marketplace and a decentralized application, according to Gracy Chen, managing director of Bitget. In addition, Chen also told Cointelegraph that most currencies listed on the exchange will…

Exploring the Growth and Potential of Structured DeFi Products

Globally, asset management is a huge industry, with a large percentage of assets in each nation being held in ETFs, index funds and other passive vehicles. In Europe, €28.4 trillion of assets are managed by the industry, of which 20% are held in passive strategies, about half in exchange traded products and half in index funds. All told, passively-held assets under management have doubled since 2015, with around one fifth of European retail investors holding such products. Analysts predict that by 2027 ETFs will account for 24% of total assets…

Access to DeFi Opportunities Is Under Threat From Within. Automation Can Help

In the end, there might still be only a handful of actors directly interfacing with DeFi primitives. However, when these actors are vaults rather than private entities, the landscape transforms. Instead of private market makers monopolizing LP profits on decentralized exchanges, vaults can assume the same role while distributing those profits to a broad base of depositors in the vault. Source

Hacker exploits defi protocol TheStandard.io for $264k

TheStandard.io suffers a $264,000 theft via a PAXG liquidity pool exploit on Arbitrum. Defi stablecoin protocol TheStandard.io has been hacked for $264,000, according to reports from blockchain security analysts CertiK. The hacker allegedly conducted a low liquidity exploit of PAXG on Arbitrum.  A low liquidity exploit is a type of attack where a threat actor takes advantage of pools with low liquidity to manipulate asset prices for financial gain. In this case, the hacker exploited the PAXG liquidity pools to steal 8,500 USDC and 280,000 Euro. Following the attack, nearly…

PancakeSwap surges 92% as defi tokens record outsized price increases

PancakeSwap’s CAKE stands out with a 92% gain on the weekly timeframe, fueled by the introduction of a new feature on its platform.  PancakeSwap rallies Decentralized exchange PancakeSwap’s native token, CAKE, is causing a stir in the cryptocurrency world. In seven days, CAKE’s price has soared by a remarkable 92%, now trading at $2.38. This surge comes after the latest innovation on its platform. PancakeSwap recently unveiled its Position Manager tool, a feature that’s turning heads in the defi space. This tool allows users to effortlessly deposit their funds into…