With hardly a week left for the year-end, the cryptocurrency industry has been hit by yet another exploit. This time, it is the staking and farming platform Bent Finance. After confirming the breach today, Bent Finance urged investors to withdraw their funds from the platform. Another Hack or Rug Pull? It all started on Monday...Read More
The self-described compounding yield optimizer – Grim Finance – has reported being hacked in a reentrancy exploit with the attacker swiping up to $30 million worth of Fantom tokens. The DeFi protocol took it to Twitter on Sunday to inform its users about the hack. The team described it as an “advanced attack,” in which...Read More
The popular decentralized exchange 1inch announced that the second version of its limit order protocol is now live. One of the most prominent features that the project outlined is allowing users to gaslessly place limit orders to swap into ETH dozens of tokens that support permits. 1inch V2 Limit Order Protocol Goes Live The project...Read More
Digital payments company Circle has announced the launch of its stablecoin USDC on Avalanche. The main objective behind the stablecoin’s deployment is to enable developers and communities to engage with eco-friendly platforms and accelerate decentralized finance (DeFi) adoption. USDC Now Available on Avalanche According to the official blog post, users will now be able to...Read More
Since hitting a low of $23.95, Polkadot (DOT) has rebounded significantly. Polkadot is now trading at $28, with $1.4 billion in trading volume over the last 24 hours, after briefly approaching $30. Advertisement Polkadot is currently trading in the red, with a price of $28 below the psychological mark of $30. On the daily chart,...Read More
The leading US cryptocurrency exchange – Coinbase – introduced a product that enables users to deposit Dai (a stablecoin pegged to the American dollar) and earn DeFi yield. The feature is available for customers in over 70 countries, including the United Kingdom, Germany, and Spain, and requires no fees. However, the service is not currently...Read More
Joseph Delong, CTO of the popular SushiSwap DEX, announced his resignation on December 9. He stated that it was in the interest of the Sushi community that he has decided to throw in the towel following a lot of infighting. “The chaos that is occurring now is unlikely to result in a resolution that will...Read More
It appears that crypto lending firm Celsius Network was also affected by this week’s BadgerDAO hack. The firm reportedly lost $55 million worth of wrapped bitcoin (wBTC). Hacker Steals $120 Million worth of wBTC CryptoPotato reported over the week how hackers managed to steal around $120 million from BadgerDAO – a decentralized autonomous organization that...Read More
Badger DAO, a protocol allowing users to use bitcoin as collateral across other DeFi projects, has been allegedly exploited. Early estimations show that the amount stolen is around $10 million. Reports started to emerge earlier today that the DeFi protocol was exploited, with the most predominant theory indicating that the hack was against Badger DAO’s...Read More
The popular decentralized exchange 1inch Network has raised $175 million in a Series B funding round. Some of the notable names that participated in the event include VanEck, Alameda Research, Gemini Frontier Fund, and Tribe Capital. 1inch Secures $175 Million The press release seen by CryptoPotato reads that aside from the aforementioned names taking part...Read More
MonoX, a decentralized finance project providing single token pools, has become the latest hack victim, in which early estimations show that the perpetrators managed to take more than $30 million in various cryptocurrencies. The protocol took it to Twitter to confirm the breach, explaining that a “method in the swap contract was exploited and boosted...Read More
DappRadar – a popular dApp discovery and analysis platform – recently confirmed plans for a platform-native token called RADAR. It is intended to help DappRadar decentralize its future operations. RADAR Token The company revealed the RADAR token at an event in the crypto VR game Somnium Space earlier this week. According to a statement seen...Read More
The November month has been on the skids for Crypto space with no significant gains. Though market leaders Bitcoin and Ethereum failed to reach the market’s port of call, top-tier altcoins seek hard to uplift the broader market cap. Notably, Solana, Polkadot, Harmony, FTX Token, and Ripple exhibits the virtue of breakout this week. Advertisement...Read More
Emerald, the Ethereum Virtual Machine (EVM) compatible ParaTime developed by the privacy-focused blockchain protocol Oasis, has officially seen the light of day on Mainnet. Oasis aims to attract more projects from the DeFi, NFT, and gaming dApps industries onto its network with the move. The press release seen by CryptoPotato informed of the launch, explaining...Read More
The debate over the feasibility of using Ethereum as the Swiss Army of the crypto-verse is heating up again now that DeFi, gaming, and NFT are enjoying a recent surge in popularity. But the outlook is not very positive considering the current state of affairs. The impact of xcessive fees, long confirmation times, and slow...Read More
According to data provided by the blockchain analysis company – Elliptic – investors have lost $12 billion to criminals targeting decentralized finance platforms since the beginning of 2021. More than $10 billion of that amount accounts for cases of fraud and theft on DeFi products. Seven Times More Than in 2020 Over the recent years,...Read More
cBridge – the multi-chain network that’s designed to enable value transfers into Ethereum and its layer-two scaling solutions, has surpassed $1 billion in terms of total cross-chain transaction volume and assets bridged. According to a press release shared with CryptoPotato, Celer Network’s cBridge has achieved a considerable milestone, surpassing $1 billion in total cross-chain and transaction volume...Read More
DoraHacks is a global hackathon organizer, as well as one of the more active Web3 developer communities in the world. According to a press release shared with CryptoPotato, DoraHacks managed to secure $8 million in funding from Binance Labs – the venture capital arm of the world’s leading exchange – Binance. DoraHacks represents one of the most...Read More
The popular blockchain project Elrond has announced a massive liquidity incentive program for its Maiar DEX DeFi platform worth more than $1 billion. It will be denominated in the native token – MEX – and the distribution will begin from the first month. $1.29B Liquidity Incentive Program From Elrond The press release shared with CryptoPotato...Read More
Maple Finance – an institutional capital marketplace for digital assets – has partnered with fintech investment firm Alameda Research to launch Defi’s first syndicated loan. Alameda will use Maple Finance’s new development to provide loans to accredited non-US institutions through a single-borrower DeFi lending pool. Decentralized Syndicated Loans Alameda is to operate as the sole...Read More
The belief that all liquidity providers (LPs) make lucrative gains for depositing funds across various decentralized protocols like Uniswap and Compound, among others, has been refuted by a new study conducted by Topaze Blue and decentralized liquidity platform Bancor. Liquidity Providers Make Losses According to the survey shared with CryptoPotato, nearly half of the users...Read More
DeFi trading platform Injective Protocol is launching its mainnet after rolling out a $120 million incentive program for traders, market makers, and DeFi projects, the protocol announced this Tuesday. First DeFi Cross-Chain Derivatives Markets As per the press release, Injective Protocol is set to launch the world’s first DeFi derivatives markets using the IBC Oracle,...Read More
Highlights Advertisement Shiba Inu hints at leveling up towards another bull run to endeavor previous highs. The analyst expects SHIB price to lead another leg-up reclaiming its lost glory. The global crypto industry has been vivid to digital currencies, while some have risen in a logarithmic trend. Other coins have been gearing up towards lost...Read More
Highlights: Advertisement The crypto space has seen unusual developments over the decade, the next big thing in the space would be Web 3. Web 3 related projects Helium, Flux, API 3, The Near protocol, Handshake, and the Graph prices eyes for maximum gains. The year 2020 has seen rapid advancements across DeFi space, where ERC-20...Read More
SEC Commissioner Caroline Crenshaw has published a “Statement on DeFi Risks, Regulations, and Opportunities” on November 9, advising decentralized finance platforms to contact them. In it, she acknowledged that crypto is now part of the vernacular, whether on news, social media, entertainment, and in investment portfolios. In an effort to clarify the regulatory status of...Read More
ING – the Dutch multinational banking corporation – has begun collaborating with the Netherlands’ financial authority on utilizing decentralized finance. The Bank’s Defi Project Annerie Vreugdenhil – ING’s Chief Innovation Officer – said as much at the Singapore Fintech Festival earlier today. Speaking in a panel discussion, the CIO complimented Singapore’s welcoming regulatory environment. As...Read More
Digital assets firm Genesis recently published its Q3 Market Observations Report, and it highlights some of the major trends across the market. This time, it shows the demand for bitcoin had faded during Q3 as institutions were exploring DeFi platforms and altcoins. BTC Demand Trends Downward Due to Institutionalization As per the report, BTC demand...Read More
The Financial Action Task Force (FATF) has released guidance on virtual assets and virtual asset service providers (VASP). But the inclusion of decentralized finance (DeFi) and non-fungible tokens (NFT) have sparked a fresh debate. Just a week after the FATF had announced finalizing its crypto guidance, the global anti-money laundering watchdog released an updated version...Read More
Decentralized lending protocol Cream Finance has suffered a flash loan attack, losing over $130 million worth of various crypto assets. This was the third successful hack against the popular DeFi project in the past year. Cream Finance has confirmed it suffered an exploit this Wednesday through a flash loan attack, compromising mostly Cream LP tokens...Read More
Minima, a scalable and decentralized blockchain network for value and information transfer, has recently bagged $6.5 million from notable investors in a Series A funding round. Accelerating Mainnet Launch According to a press release shared with CryptoPotato, the funds acquired from the just-concluded funding round will be used to facilitate the launch of Minima’s Mainnet...Read More
