DeFi News

Microsoft is aiming to benefit from the rapid spread of hybrid work, looking to extend its presence within the social connection-focused virtual world to companies whose employees are working remotely. The company also seems determined to use its forthcoming acquisition of game developer Activision Blizzard to boost its metaverse assets.

Auditors of the decentralized finance (DeFi) platform Grim Finance, which was exploited for USD 30m worth of digital assets on Sunday, claim that a new analyst had conducted the protocol's audit while their CTO was on vacation.

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Decentralized finance (DeFi) is rapidly evolving, but insufficient transparency, a lack of shared awareness about its risks, and methods to measure and mitigate those risks continue to pose challenges to its users, according to a report by international risk assessment firm Moody’s.

The hacker of XCarnival, a lending aggregator for metaverse assets, has accepted a bounty of ETH 1,500 (USD 1.85m) in exchange for the return of the remaining ETH 1,467 (USD 1.8m) and the team not pursuing legal actions.

DeFi lending protocol bZx (BZRX) once again lost its funds.

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Centralization issues have emerged as the main attack vector in decentralized finance (DeFi), facilitating the largest share of the hacks -- with USD 1.3bn worth of user funds stolen in 44 DeFi attacks last year, according to a recent report by security-focused ranking platform CertiK.

Losses of the cross-chain router protocol (CRP) Multichain have reportedly exceeded USD 3m as the protocol is still prone to additional hacks and exploitation.

As decentralized finance (DeFi) and central banking share a number of objectives, building bridges between decentralized and centralized finance (CeFi) could open up new possibilities for the use of central bank digital currencies (CBDCs) , according to the participants of a debate held by the Innovation Hub of the Bank for International Settlements (BIS) and the Swiss National Bank (SNB).