Tag: finance

Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says – Finance Bitcoin News

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The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely available, Christine Lagarde assured during a discussion devoted to central bank digital currencies. Payment Cards and Apps Now Are Not Necessarily European, Lagarde Points Out A digital euro has a key role to play in safeguarding Europe’s payment autonomy, President of European Central Bank (ECB) Christine Lagarde was quoted as…

Yellen Says US Could Back All Deposits at Smaller Banks if Needed to Prevent Contagion – Finance Bitcoin News

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U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary Janet Yellen said in a speech to the American Bankers Association Tuesday that the government is ready to provide additional deposit guarantees if the banking crisis worsens. Following the failures of several major banks, including…

Euler Finance to enter talks with exploiter over the return of funds

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Ethereum-based lending protocol Euler Finance could be a step closer to recovering funds stolen in a $196 million flash loan attack last week, with private discussions now initiated with the exploiter. In an on-chain message to Euler on March 20, days after sending funds to a red-flagged North Korean address, the exploiter claimed they now want to “come to an agreement” with Euler. “We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,”…

Hacker of Euler Finance Sends 100 ETH to a North Korean Address

As per blockchain intelligence firm Chainalysis, Euler Finance transferred a total of 100 ETH to an address having links to North Korea. Another major hack rocked the decentralized finance (DeFi) market last week in March. The attack on DeFi protocol Euler Finance drained a massive $197 million making it the biggest DeFi hack in 2023 so far. While tracking the details of the movement of hacked funds, it turns out that the hack could be linked to North Korea. Among the series of transfers made by the hacker, one transaction…

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks – Finance Bitcoin News

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A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,” he warned. Lawmaker Warns of Runs on Smaller Banks U.S. Congressman Blaine Luetkemeyer (R-MO), a former banker and a member of the House Financial Services Committee, said last week that the government should temporarily insure…

Euler Finance hacker sends 100 ETH to red-flagged North Korean address

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Ever since Euler Finance fell victim to the biggest decentralized finance (DeFi) hack of 2023, the crypto community closely follows the $197 million loot on-chain — hoping to track down the attacker. Out of the series of transfers made by the hacker, one transaction of 100 Ether (ETH) was allegedly sent to an address associated with North Korea-linked actors. Blockchain investigator Chainalysis identified 100 ETH from Euler’s stolen funds was transferred to an address that was flagged in an older hack with links to North Korea. 100 ETH stolen in…

Euler Finance exploiter returns 3,000 ETH worth $5.4m

Euler Finance exploiter has returned 3,000 ETH worth $5.4m to the DeFi protocol, indicating the platform may have reached a deal with the hacker. Exploiter returns stolen Euler funds worth $5.4m The Euler Finance exploiter on Mar. 18 returned about 3,000 ETH ($5.4m) to the platform’s deployer address. Blockchain investigator PeckShield identified three transactions used to send funds. Euler Finance was hacked on Mar. 13 in a flash loan attack where the exploiter made away with $197m. The funds were stolen over four transactions of $136m staked ether (stETH), $34m USDC, $19m…

Euler Finance hacker starts returning stolen Ether

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The recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far. However, this may not hold for much longer as the hacker reportedly had a change of heart. On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds. https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f — PeckShield Inc. (@peckshield) March 18, 2023 Cointelegraph confirmed that the hacker transferred 1,000…

Russian Parliament Votes on Bill Opening Door for Digital Ruble – Finance Bitcoin News

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Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower house of Russian parliament, the State Duma, has adopted in the first reading a bill introducing legislative changes necessary for the realization of the digital ruble project. Most notably, it seeks to amend the law…