Sonne Finance exploited for $20m, offers hacker reward for returning funds

The Sonne Finance landing protocol team announced that the project was hacked for $20 million. Sonne Finance noted that the portal’s work on the Optimism network was suspended during the investigation. The attacker stole nearly $20 million of crypto assets, including currencies WETH, VELO, soVELO, and USDC.e. The hacker exploited a vulnerability in the second version of the Compound platform. Compound allows users to attack markets with a non-zero collateral ratio. The developers of Sonne Finance added markets with VELO, but due to a two-day blockage, the team needed help…

Sonne Finance Token Drops 60% After $20M Exploit on Optimism

The exploiters utilized a “donation” attack to manipulate certain markets offered by the platform, stealing various tokens before being interrupted. The incident occurred on Sonne’s platform on the Optimism blockchain. The Base blockchain version was not affected. (Think of this as a mobile application getting hacked on Apple iOS, but remaining safe on Android.) Source

Kraken enters Germany with DLT Finance partnership

Crypto exchange Kraken is expanding its footprint across European markets with a partnership to service German clients.  According to a press release, Kraken reached an agreement with BaFin-licensed DLT Finance, a brand of crypto service providers DLT Securities GmbH and DLT Custody Gmbh, to activate digital asset facilitates for users in Germany.  This year, Germany and Europe have been showcased as hot spots for crypto adoption. As crypto.news reported, several German cities showed leading interest in the Bitcoin (BTC) halving, and the crypto banking sector is dominated by European providers. …

Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return

Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.  Crypto Expert Unveils “Banana Zone” Rally For Bitcoin In an X (formerly Twitter) post published on Tuesday, April 28, Pal shared a yearly chart depicting Bitcoin’s price movements from October 2023 to April 2024.…

As Bitcoin outpaces fiat, what’s next for global finance?

As Bitcoin’s value overtakes major currencies by 99.5%, is this the start of a new era where digital currencies challenge traditional financial systems? The global economy has faced severe challenges in recent years, including rampant inflation and slowing growth rates since the post-pandemic era.  In the U.S., recent reports indicate a slower-than-expected GDP growth of 1.6% in Q1, missing forecasts of 2.5% growth and falling well below the 3.4% recorded in Q4.  Simultaneously, the core PCE (personal consumption expenditures) price index—an essential gauge of inflation for the Federal Reserve—has risen…

US asset managers increase BTC portfolio allocation as Borroe Finance shines

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Legacy Wealth and United Capital Management have invested $20 million in Bitcoin through Fidelity’s ETF, while Borroe Finance raises nearly $4 million by monetizing future earnings via NFTs. While US Asset Management firms invest over $40.88 million into FBTC to increase BTC portfolio, Borroe Finance (ROE) continues paving its path to become one of the top defi coins. Given its price trajectory and real-life use cases, ROE has emerged…

How To Become A Crypto Millionaire With Dogecoin (DOGE), ETFSwap (ETFS), And Ondo Finance (ONDO) – Blockchain News, Opinion, TV and Jobs

Dogecoin (DOGE), ETFSwap (ETFS), and Ondo Finance (ONDO) have been touted as three tokens that could make crypto investors millions of dollars in this bull run. Dogecoin (DOGE), on its part, has a proven track record since it made many crypto millionaires in the last bull run.  Meanwhile, as relative newcomers, ETFSwap (ETFS) and Ondo Finance (ONDO) have shown enough bullish momentum to convince investors they are the future of the crypto market. Besides, the infrastructure that they provide in the crypto industry is second to none.  Expect More Dogecoin…