DeFi

LaunchZone’s Bscex SwapX contract was hit resulting in the loot of about $7.7 million of funds. 75,586 addresses were still at risk as the main attacker was still on the lookout. The DeFi ecosystem continued to be a happy hunting ground for hackers as yet another protocol fell victim to an exploit. A vulnerability inContinue reading “Problems galore for DeFi ecosystem as another protocol gets compromised”

Funds worth over $100 million were returned by the exploiter at press time. DeFi protocols have lost more than $240 million in 2023 due to hacks. The $197-million Euler Finance exploit has been getting more dramatic with each passing day. More than 50% of the stolen funds have been returned as per the latest updateContinue reading “Euler Finance: Surprise, surprise! Hacker returns this much of stolen funds”

Aave recorded the most asset deposits in its protocol. Though Lido underperformed, its TVL hit 2023 highs. The Total Value Locked of Aave [AAVE] gained as much as 8.69% in the week ended 25 March. The rise in unique smart contract deposits made the protocol the best-performing one as the overall TVL hit $5o.01 billionContinue reading “AAVE outperforms LDO as DeFi TVL reaches YTD high, more inside”

Long-term holders of the token have significantly shredded their holdings. The SUSHI protocol has seen a decline in growth, thereby putting the network’s health at risk. Although associated with the DeFi movement, SushiSwap’s [SUSHI] recent escapades have reeked of adversity with the U.S. SEC knocking on its doors. However, the troubles of the project didContinue reading “SUSHI holders may have cut exposure long before SEC summon- Here’s how”

The Tron native token experienced a major nosedive in quick succession. Liquidation hit a yearly high while the protocol’s founder looks for a way out. Led by “his excellency” Justin Sun, Tron [TRX] has struggled to become a high-ranking cryptocurrency per its price. Moreso, the cryptocurrency had not been able to significantly pull itself outContinue reading “Tron [TRX] plunges, longs liquidated, credit goes to ‘his excellency’”

A U.S. Treasury study claims that fully integrating CBDCs into the economy would destabilize banks. A recent White House report criticized stablecoins, claiming that they are too vulnerable to run risks to fulfil their role as a “fast payment” instrument. A study released by the Office of Financial Research (OFR) on 22 March claimed thatContinue reading “CBDC adoption could destabilize banks: U.S. Treasury study”

MakerDAO’s annualized fee income has been decreasing since SVIB’s collapse. Waning buying pressure puts MKR’s price at risk of further decline. The annualized fee income of leading decentralized finance protocol MakerDAO [MKR] has declined since the collapse of Silicon Valley Bank (SVIB) on 10 March, data from MakerBurn revealed. At 43.23 million DAI tokens atContinue reading “MakerDAO suffers a fall in annualized fee income, thanks to SVB”

Euler Finance hacker who earlier stole $197 million returned about 3,000 Ethereum tokens worth $5.4 million. However, the chances of the hacker returning the entire $197 million loot remain slim. The hacker who stole $197 million from Ethereum-based noncustodial lending protocol Euler Finance has returned approximately 3,000 Ether worth $5.4 million. The assets were transferredContinue reading “Euler Finance hacker returns tokens worth $5.4 million”

Aptos’ TVL has notably reduced despite high expectations. The project has performed well with respect to NFTs and token value. When Aptos’ [APT] Mainnet went live on 17 October 2022, there was an array of excitement in the crypto community. At the time, the ecosystem was battling with several downsides but the project’s offer toContinue reading “The A-Z of Aptos five months after Mainnet launch”