Earlier this month, Lido became the largest decentralized finance (DeFi) app by total locked-in money (TVL), surpassing MakerDAO. Users have locked $7.8 billion on Lido, with most of that coming from Ethereum, with a small amount coming from other blockchains, including Solana. In addition, from December 31 to the present The price of the LDO token has soared 108% to $2.01, while its 24-hour average volume has increased 802%. Lido's latest climb comes ahead of Ethereum's Shanghai upgrade, the first...
Alameda liquidators lose $72,000 on DeFi lending platform Aave after liquidating itself while trying to recover funds for creditors The liquidator attempts to close the position, which exposes the risk of liquidation by Arkham The crypto data platform stated that over the course of nine days, the position wasliquidate twice Total 4.05 aWBTC And these funds will no longer be recoverable to creditors. Funds from these wallets were swept intosingle wallet The multi-sig-controlled cryptocurrency now holds $19.6 million worth of...
according to reportMessari's new release, titled “Crypto Thesis for 2023, Uniswap's V3 iteration has proven to be a “true 10x improvement,” states that Uniswap has maintained its dominant DEX position. With the automated market makers (AMM) available today Failed to overcome many challenges, for example, PankcakeSwap, which is still considered centralized and still relies on close ties with CEX - Binance. very hard While FTX's self-destruct kills the Serum as well. And since AMM DEXs are busy facing unique challenges,...
According to a report on January 5 atpublishAccording to Chinese blockchain security company LianAn Technology, breaches of DeFi security across the global blockchain totaled over $3.64 billion in 2022, a 47.4% increase compared to the $2.44 billion loss. in 2021 As of 2022, the money lost during the cross-chain bridge hack amounted to $1.89 billion across 12 incidents, the highest in this category. Overall, the majority of DeFi attacks occur on the Ethereum, BNB Chain, and Solana networks. Of the...
Cake DeFi, a decentralized financial services (DeFi) company based in Singapore, has announced the launch of Proof of Reserves using the Merkle tree method, allowing users to verify both assets and liabilities through its website. The Merkle tree was developed by Ralph Merkle in 1979 as a way to prove that some data is included in a data set without exposing the entire data set. It is used to prove whether a cryptocurrency exchange has the claimed reserves. without disclosing...
frominformation of DeFiLlama found that Lido Finance currently has $5.9 billion in locked funds, or TVL, followed by MakerDAO and AAVE in second and third place with $5.89 billion and $3.7 billion TVL, respectively. Lido's rise in TVL is a result of the huge increase in demand for Ethereum stake solutions. According to Nansen, Lido currently holds about 31% of ETH, a significant share compared to the shares of major crypto exchanges including Coinbase and Kraken, which hold 15% and...
followreportAccording to Forbes, the crypto project found more than 125 hacks and the top 5 attacks were all related to decentralized finance (DeFi) protocols, accounting for $1.48 billion of the total amount stolen. Hackers love DeFi. Forbes reiterates that the top 5 biggest crypto heists range from cross-chain hacks, erroneous code exploits, and flash loan attacks. The top 5 hacks are the $625 million hack of the Ronin Network. Wormhole's $325 million theft, Nomad Bridge's $190 million hack, Beanstalk Farms'...
1inch announces Fusion, which is focused on the 1inch Swap Engine and aims to enhance the user experience with DeFi swaps. The team behind the project Promises to provide liquidity that “Almost limitless” and the highest level of user protection The 1inch Swap Engine will facilitate Fusion, which empowers DeFi users to place orders with specified prices and time intervals. without having to pay network fees The 1inch Swap Engine is a decentralized trading and matching protocol, partially based on...
Security is a major challenge for decentralized finance (DeFi). Between 2020 and 2022, hackers stole $2.5 billion through vulnerabilities in cross-chain bridges, according to Token Terminal data. see The root cause of all problems with bridges comes from "vulnerabilities in nature," said Toposware founder and CEO Theo Gauthier. This means that any breach or bug within the chains to which the bridges connect will make the overall bridges vulnerable. Bridges are used to connect different blockchains and aim to address...
Raydium Decentralized Finance Protocol on Solanasufferedfrom being attacked According to the developer's statement The preliminary investigation by the team revealed that The attackers took control of the exchange's owner account, and the team said its "power" over the automated market maker and farm program was paused "for now." An exploit on Raydium is being investigated that affected liquidity pools. Details to follow as more is known⁰Initial understanding is owner authority was overtaken by attacker, but authority has been halted on...
