• News
    • Bitcoin
    • Altcoins
    • Regulation
    • Blockchain
    • Scam
  • DeFi Zone
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Market Cap
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook Twitter Instagram
Crypto World VisionCrypto World Vision
  • News
    • Bitcoin
    • Altcoins
    • Regulation
    • Blockchain
    • Scam
  • DeFi Zone
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Market Cap
Crypto World VisionCrypto World Vision
Home»DeFi Zone»Unsung hero saves DeFi protocol from potential exploit: Finance Redefined
DeFi Zone

Unsung hero saves DeFi protocol from potential exploit: Finance Redefined

2022-10-21No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Welcome to Finance Redefined, your weekly dose of important decentralized finance (DeFi) insights — a publication crafted to deliver you important developments over the past week.

The final week’s headline was dominated by a few of the greatest hacks in DeFi. This week is redemption time for a lot of DeFi protocols that both averted an tried hack or bought a big chunk of their stolen funds again.

The BitBTC bridge reportedly had a bug that will basically permit an attacker to mint faux tokens on one aspect of the bridge and swap them for actual ones. Nevertheless, one Twitter person was capable of foresee the vulnerability and knowledgeable the cross-bridge platform about it.

The Moola Market attacker has scored a few half-million greenback “bug bounty” after selecting to return a majority of the cryptocurrency they exploited from the Celo-based lending protocol. Cryptocurrency market maker Wintermute repaid a $92 million TrueFi mortgage on time regardless of struggling a $160 million hack.

Mango Market hackers that returned a big chunk of the $117 million stolen from the protocol might nonetheless face authorized motion regardless of the protocol deciding to award him a $50 million bounty.

The highest 100 DeFi tokens remained bearish for one more week, as the vast majority of the tokens traded in pink, barring a couple of. The entire worth locked additionally remained beneath $50 billion for the second consecutive week.

Twitter person saves cross-chain bridge from potential exploit

A cross-chain bridge between BitBTC and the Ethereum layer-2 community Optimism has been capable of keep away from a doubtlessly pricey exploit because of the work of an eagle-eyed Twitter person.

See also  Lido Finance issues update on its journey towards full decentralization

The customized cross-chain bridge presents a ramp for customers to ship belongings between Optimism’s community and BitAnt’s DeFi ecosystem, which incorporates yield providers, nonfungible tokens (NFTs), swaps and the BitBTC token, wherein 1 million BitBTC represents 1 Bitcoin (BTC).

Proceed studying

Moola Market attacker returns most of $9M looted for $500K bounty

An attacker has returned simply over 93% of the greater than $9 million value of cryptocurrencies they exploited from the Celo blockchain-based DeFi lending protocol Moola Market.

At round 6:00 pm UTC on Oct. 18, the Moola Market group tweeted it was investigating an incident and had paused all exercise, including it had contacted authorities and supplied a bug bounty to the exploiter if funds had been returned inside 24 hours.

Proceed studying

MangoMarket’ss exploiter stated actions had been ‘authorized,’ however had been they?

The $117 million Mango Markets exploiter has defended his actions as “authorized,” however a lawyer means that they may nonetheless face the results.

Self-described digital artwork supplier Avraham Eisenberg outed himself because the exploiter in a sequence of tweets on Oct. 15, claiming he and a group undertook a “extremely worthwhile buying and selling technique” and that it was “authorized open market actions, utilizing the protocol as designed.”

Proceed studying

Wintermute repays $92M TrueFi mortgage on time regardless of struggling a $160M hack

When Wintermute, a cryptocurrency market maker, misplaced $160 million because of a hack and considerations associated to the reimbursement of debt value $189.4 million surfaced. Nevertheless, in an thrilling flip of occasions, Wintermute paid again its largest debt due Oct. 15, involving a $92 million Tether (USDT) mortgage issued by TrueFi.

See also  Top 5 Crypto To Buy NOW! One I'm BUYING HEAVILY⚠️

After reimbursement of TrueFi’s $92 million mortgage, Wintermute nonetheless owes $75 million to Maple Finance in USD Coin (USDC) and wrapped Ether (wETH) and $22.4 million to Clearpool, a complete of $97.4 million in debt.

Proceed studying

Binance delegates 13.2M UNI tokens, turning into Uniswap DAO’s second-largest vote-holder

Crypto trade Binance is now the second-largest entity by voting energy within the Uniswap DAO, sitting simply behind the enterprise agency Andreessen Horowitz, or a16z, in line with the on-chain checklist of delegates.

On Oct. 18, Binance delegated 13.2 million Uniswap (UNI) tokens from its books, which represents 5.9% of the voting energy — a share of tokens delegated to the trade. In comparison with the full provide of UNI, the quantity delegated represents 1.3%.

Proceed studying

DeFi market overview

Analytical knowledge reveals that DeFi’s complete worth registered one other dip, with the full worth locked (TVL) falling beneath $50 billion on the time of writing. Information from Cointelegraph Markets Professional and TradingView present that DeFi’s prime 100 tokens by market capitalization had a blended week, with the vast majority of the tokens buying and selling in pink on the 7-day chart, barring a couple of.

Maker (MKR) continued its bullish momentum into the third week of October, registering a 12% acquire over the previous seven days, adopted by Aave (AAVE) with a ten% weekly surge. Lido DAO (LDO) was one other DeFi token that registered a 9.45% surge within the weekly charts

Thanks for studying our abstract of this week’s most impactful DeFi developments. Be part of us subsequent Friday for extra tales, perception,s, and training on this dynamically advancing house.

See also  15 influential women entrepreneurs in Web3

Source link

DeFi Exploit Finance hero potential Protocol Redefined saves Unsung
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin’s underwater potential, market frenzy, and journey to the past

2023-03-31

Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

2023-03-31

🔥BITCOIN: l'alignement parfait ? Comprendre les enjeux ! ANALYSE CRYPTO BITCOIN et MACRO

2023-03-30

Aptos ramps up its DeFi foundation to benefit from CEX’s tribulations

2023-03-30
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Kevin O'Leary On Bitcoin, Ethereum and Crypto Bull Run | Bitcoin 2022 Conference

2022-11-08

Alchemy Pay Coin Price (44.4) up #crypto #viralvideo

2022-10-29

BNB Chain cools off after 24% surge, but strong fundamentals could back the next BNB rally

2022-11-03

Subscribe to Updates

Get the latest news and Update from Crypto World Division about Crypto, Metaverse, NFT and more.

Editors Picks

Shemaroo makes Web3 debut on Polygon to release Bollywood NFTs

2023-02-10

What Does The Launch Of zkSync Era Mainnet Have To Attract People?

2023-03-28

Trade group accuses SEC of ‘stealthy’ overreach in Coinbase insider trading case

2023-02-24

Breaking: Circle discloses $3.3B tied up at Silicon Valley Bank

2023-03-12

Crypto World Vision
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptoworldvision.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$23,418.000.75%
  • ethereumEthereum(ETH)$1,640.732.33%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.10%
  • binancecoinBNB(BNB)$305.200.68%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.374110-0.89%
  • okbOKB(OKB)$52.010.03%
  • cardanoCardano(ADA)$0.363892-0.29%
  • matic-networkPolygon(MATIC)$1.25-2.49%