Euler has sent multiple on-chain messages to the attacker in the past 48 hours. Source
Euler Finance to Offer $1M Reward as It Reels From Nearly $200M Exploit
Tag: finance
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator – Finance Bitcoin News
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership “was based on the current status of the bank and its ability to do business in a safe and sound manner.” ‘Nothing to Do With Crypto’ After the New York State Department of Financial Services (NYDFS) took possession of Signature Bank on Sunday, there…
U.S. Treasury Poised to Release View on How DeFi Used in Illicit Finance
The U.S. Treasury Department is close to releasing a risk assessment analyzing criminal use of decentralized finance (DeFi), according to Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg. Source
Euler Finance blocks vulnerable module, working on recovering funds
Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well. On March 14, Euler came out with an update on the situation and notified its users that they had disabled the vulnerable etoken module to block deposits and the vulnerable donation function. The firm said that they work with various security groups…
HSBC Acquires Silicon Valley Bank UK — Sale Facilitated by Government, Bank of England – Finance Bitcoin News
The British government and the central bank, the Bank of England, have facilitated a private sale of Silicon Valley Bank UK to HSBC, according to Chancellor of the Exchequer Jeremy Hunt. He stressed that “Deposits will be protected, with no taxpayer support.” British Government Announces Acquisition of Silicon Valley Bank UK by HSBC HSBC has acquired Silicon Valley Bank UK (SVB UK), the British subsidiary of Silicon Valley Bank (SVB) that was shut down by U.S. regulators on Friday. British Chancellor of the Exchequer Jeremy Hunt tweeted Monday: This morning,…
Euler Finance hacked for over $195M in a flash loan attack
Ethereum-based noncustodial lending protocol Eurler finance faced a flash loan attack on March 13, with the attacker managing to steal millions in Dai (DAI), USD Coin (USDC), staked Ether (StETH) and wrapped Bitcoin (WBTC). According to on-chain data, as per the last update, the exploiter carried out multiple transactions, stealing nearly $196 million. The ongoing attack has already become the largest hack of 2023. The breakdown of stolen funds is as follows: Funds stolen from Euler Finance. Source: BlockSec. According to crypto analytic firm Meta Seluth, the attack correlates with the deflation…
Bank of Russia Registers Another Digital Asset Issuer – Finance Bitcoin News
The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia Grows to Five The Central Bank of Russia (CBR) has included the company Distributed Registry Systems, with its Masterchain platform, to the register of operators of information systems which can be used to issue digital financial assets (DFAs), the business…
Curve Finance trading volume reaches $7B historic high after USDC depeg
Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin (USDC) from the U.S. dollar. Looks like we have the biggest daily trading volume in history — Curve Finance (@CurveFinance) March 11, 2023 Curve supports liquidity pools for major stablecoins, such as USDC, Tether (USDT), Frax (FRAX), Dai (DAI) and TrueUSD (TUSD). Fear, doubt, and uncertainty have spread…
Crypto funding shifts from CeFi to DeFi after major collapses: Finance Redefined
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. DeFi has become a prominent choice for investors after multiple centralized finance (CeFi) collapses throughout 2022. Some key interest areas for investors include “NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum layer 2’s. February saw seven DeFi exploits resulting in a net loss of about $21 million. March is no different, with multiple exploits already recorded, such as on Hedera’s mainnet. DeFi lender Tender.fi…
5 basic principles of finance you should know
Learning the principles of finance is essential for managing personal and business finances, making informed investment decisions and understanding the economy. Here are five basic principles of finance that you should know. Time value of money This principle suggests that a dollar received today is worth more than a dollar received in the future due to the potential to earn interest or investment returns. It is the foundation of many financial decisions, including investment strategies and loan repayment plans. For example, if an investor bought 1 Bitcoin (BTC) for $10,000 in…