Tag: finance

Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network – Finance Bitcoin News

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The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech companies to join the trials. Turkey to Widen Participation in Digital Lira Project, Focus on Studying Economic and Legal Aspects Turkey’s monetary authority has successfully carried out the first payment transactions on the Digital Turkish Lira Network, according to an announcement on Thursday. The operations were executed as part…

DeFi sees exploits and exit scam drama in the last week of 2022: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. For DeFi, the last week of 2022 saw another slew of exploits, insider job accusations and exit scam drama. It all started on Christmas, when Defrost Finance, a decentralized leveraged trading platform on the Avalanche blockchain, was exploited by a DeFi flash loan attack causing $12 million in losses. However, the hacker behind the attacks reportedly returned a portion of the funds the next…

The Crypto Market and Altcoins Will Skyrocket After The Bitcoin Halving

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Join our Exclusive Crypto and Stock Market Content on Patreon: Some guy saying it’s weird of me to buy low and sell high: My prediction of the bitcoin 2021 peak (before it happened) and 2022 crypto crash warning (before it happened): Get up to 12 Free Stocks valued between $34 and $30,600 when you open and fund a new Stock Account: The best way to support our channel is to share this video on your social media to spread awareness. We appreciate…

Defrost Finance breaks silence on ‘exit scam’ accusations, denies rug pull

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Defrost Finance, the decentralized trading platform that suffered a $12 million exploit leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.” On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining of user funds from its V2 protocol. One day later, another incident saw a hacker steal the admin key for a second “much larger” attack on the V1 protocol. It’s understood the attacker(s) conducted the flash loan attack by adding a fake…

Here’s how Defrost Finance plans to refund users following $12M hack

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After recovering the funds lost in a recent flash loan exploit, decentralized leverage-trading platform Defrost Finance is planning to return the funds to their rightful owners, according to a new announcement.  In a Medium post, Defrost highlighted that it will soon be refunding the assets to their original holders and will be following a specific process. The process includes converting all Ether (ETH) into stablecoins, like DAI, at the on-chain market rate. Then, all stablecoins will be transferred from the Ethereum blockchain into Avalanche. Apart from these, the team will also…

Defrost Finance Says Hacked Funds Have Been Returned

Blockchain security firm Peckshield, citing “community intel,” said at the time that the exploit may have been a rug pull that made off with $12 million. Earlier today Certik, also a security company, said it had been unable to contact members of the team and posted a graphic indicating it was treating Defrost as an exit scam. Defrost’s Twitter account is not configured to accept private messages. Source

DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss

Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost V1 and Defrost V2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) and Avalanche (AVAX) tokens from the MetaMask wallets. Moments after a few users complained about the unusual loss of funds, Defrost Finance’s core team member Doran confirmed that Defrost V2 was hit with a flash loan attack. At the time, the platform believed that Defrost V1 was not impacted…

ECB to Decide Whether to Issue Digital Euro in 2023 – Finance Bitcoin News

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The European Central Bank (ECB) has published a new report on the progress of its investigation into the possible launch of a digital euro. The research will continue next year with the regulator planning to make a decision whether to proceed to the realization of the project in the fall of 2023. ECB to Develop Rules for Digital Euro Distribution Through Intermediaries The eurozone’s central bank has released a second report on the advance of the investigation phase of its project to issue a digital version of the common European…