DeFi News

Ethereum (ETH)-powered decentralized finance (DeFi) project Cream Finance (CREAM) suffered another flash loan attack as the attacker reportedly stole more than USD 130m worth of tokens.

With cybercrime increasingly hurting the DeFi sector, the US Federal Bureau of Investigation (FBI) is taking steps to warn investors and platforms about these risks, and is also recommending a set of precautions that could prevent them from losing their assets to criminals.

The recent hack of Axie Infinity’s Ronin blockchain reveals how proof-of-stake (PoS) chains still struggle with a fundamental flaw in their design, with speed and energy efficiency prioritized over security, an analyst at crypto exchange Huobi has said.

Indicating that major financial players have not been scared away from cryptoassets by the ongoing market downturn, the Fairfax County Retirement Systems, a US pension fund with assets totaling USD 6.8bn, has unveiled it is looking to invest in crypto lending markets to ramp up its returns.

Liquidity management decentralized finance (DeFi) protocol Visor Finance is the latest victim of a DeFi hack, with the protocol estimated to have lost USD 8.2m worth of digital assets - and becoming the 7th crypto establishment to get exploited in the last month of the year.

The biggest decentralized finance (DeFi) hack, of interoperability protocol Poly Network, with roughly USD 600m stolen is not over just yet, as the attacker has not yet provided the final key of the multisignature wallet, stating that they will provide it "when everyone is ready." However, the attacker has been offered a significant position on the team.

Another day, another exploit. Deus Finance DAO seems to have lost at least USD 13m in its own latest flashloan attack.

Amid the algorithmic stablecoin debate prompted by what decentralized finance (DeFi) protocol Iron Finance called "the world’s first large-scale crypto bank run," many in the Cryptoverse came down quite hard on Dallas Mavericks owner Mark Cuban for his call for stablecoin regulation - arguing that he should've done due research first, as Cuban himself admitted he didn't do the needed math.

Bitcoin price started consolidation near the USD 50,000 level. Ethereum is consolidating gains above USD 3,300, XRP tested USD 1.30. BNB gained 10% and it even tested the USD 500 resistance.

Decentralized exchange (DEX) dYdX was down for 9 hours Monday afternoon to Tuesday morning, due to a major outage that hit Amazon's cloud-service network Amazon Web Services (AWS), once again stirring up debates about decentralization.