Aave freezes low-liquidity pools
Last week, the Ethereum-based decentralized lending protocol Aave was left with $1.6M of bad debt due to a massive CRV sale. Aave, the leading DeFi protocol with over $5B of total value locked, has accepted a proposal by Llama and Chaos Labs, which asked to pause volatile assets due to low liquidity, following the Nov. […]
MetaMask to collect user data
ConsenSys, the Ethereum protocol behind MetaMask wallet and an application for developers Infura, decided to update its privacy policy. ConsenSys now collects IPs, usernames, KYC details, and bank account information. Running the ConsenSys application, MetaMask, users agree to share their full name, date of birth, and gender. Consensys also demands home address details and telephone […]
DEX vs. CEX: Uniswap overtakes Coinbase in Ethereum trading
Following the theme of our digest today isn’t necessary, just like answering Caroline Elison’s question of what the point of trading on DEX and not FTX. Nevertheless, despite the abundance of news and investigations around the FTX failure, it is important to highlight today’s event – Uniswap has risen in ethereum volume trading, leaving Coinbase […]
More Than $200,000 Stolen from QuickSwap in Flashloan Attack
Decentralized exchange QuickSwap has become the latest victim of a flash loan attack. The Uniswap DEX fork, which runs on Polygon and issues the MATIC crypto, was hit for $220,000. Flash loan attacks happen when an exploiter takes out many loans from a DeFi protocol and then sells the borrowed crypto. Unfortunately, decentralized exchanges are […]
Uniswap Raises $165 Million in Series B Funding
Decentralized exchange Uniswap has received $165 million in Series B funding. Polychain Capital led the round, which also included a16z crypto and Paradigm. Uniswap was estimated in this round to be worth $1.6 billion. The popular DEX, which enables users ERC-20 token swapping, saw $1.2 trillion in trading volume since it opened its doors. The […]
Mango Markets Drained of $100 Million in Hacker’s Attack
Following last week’s Binance Smart Chain hack, another DeFi platform was now hit. This time, the Solana-based trading platform for perpetual futures and spot margin trading, Mango Markets, was the target of the exploit, with the attacker taking off with $100 million. According to the blockchain security firm OtherSec, the hack was carried out by […]
Cardano Begins Transition to Vasil Hard Fork
After several delays, Cardano’s Vasil hard fork is now just around the corner. The final transition process is already underway and will be fully completed on September 27. According to Cardano’s representative, Vasil is the most substantial update this proof-of-stake blockchain has experienced since its launch in 2017. Thanks to the new scripting language that […]
FBI Issues Warning Regarding the Use of DeFi Platforms
The Federal Bureau of Investigation has issued a warning to the public, outlying the potential dangers of using decentralized finance (DeFi) platforms. FBI cites the report made by blockchain analysis company, Chainalysis, claiming that $1.3 billion worth of crypto was stolen between January and March 2022. And 97% of that sum was taken from DeFi […]
GammaX Raises $4 Million for its Hybrid Crypto Exchange
GammaX announced that it has received $4 million in investments directed toward its upcoming crypto derivatives exchange. StarkWare, Cobo, and Genesis Trading are listed among the investors. According to GammaX’s representative, the company is looking to create the most advanced crypto exchange available to traders. For this purpose, GammaX will be a hybrid exchange, built […]
Prices of DeFi Coins Rising in Anticipation of the Ethereum Merge
After the successful launch of Ethereum’s final testnet before the Merge event, Goerli, many prominent DeFi coins are experiencing price increases. According to CoinMarketCap, the value of ETH itself has risen by some 10% over the past 24 hours, with it currently amounting to $1,890. The biggest winner among popular DeFi coins is LDO, the […]
