$107,963.00
-0.71%$2,535.55
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-0.28%$148.56
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0.16%$0.166834
-2.19%$2,533.97
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-0.65%$38.53
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-0.65%$494.16
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0.76%$17.90
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-0.49%$85.89
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0.19%$0.999577
-0.05%$315.32
-1.37%$108,031.00
-0.66%$1.00
0.04%$3.35
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-1.98%$279.42
0.31%$0.00000981
-2.40%$0.454487
-3.36%$1.18
0.03%$48.27
-1.23%$319.38
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-0.68%$1.00
0.00%$2.14
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0.01%$0.999628
-0.03%$0.074927
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0.16%$0.564801
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0.79%$4.03
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0.06%$0.183496
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3.14%$10.37
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0.09%$2,662.91
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4.41%$0.01441239
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0.05%$0.148599
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0.02%$10.74
0.01%$0.502197
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0.06%$0.726244
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0.26%$0.01399142
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2.13%$38.63
-2.58%$18.43
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0.11%$0.241828
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0.02%$0.01204133
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2.88%$0.517037
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0.00%$2,534.12
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-0.51%$0.262935
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3.05%$0.998545
0.12%$0.487016
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1.20%$0.061136
1.17%$0.00000044
0.11%$2.33
3.78%$1.34
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-8.45%$0.04179431
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0.00%$1.001
0.32%$0.0069599
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0.08%$107,597.00
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1.20%$0.999886
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7.14%$2,772.39
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0.05%$0.999536
0.02%$0.314025
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0.00%$0.063946
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0.13%$0.00336638
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-8.72%$0.267747
-11.31%$0.106386
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76.52%$0.183515
-0.52%$15.75
-0.31%$0.653918
-4.14%$0.190269
0.60%$0.582355
-1.88%$1.63
-0.10%$101,123.00
-4.77%$0.02639411
-1.20%Reading
A trader has again exploited a number of decentralized financedecentralized finance (DeFi) tools, to take home a large amount of Ethereum (ETH). After netting $350,000 on Valentine’s Day, he or she has now taken a further $645,000—a total just shy of a million dollars.
The theft happened in the same way. A clever set of instructions—all executed in one big transaction—enabled the trader to leverage current weaknesses in the DeFi ecosystem for their own gain. By using several decentralized financial tools, and a small dose of price manipulation, they were able to take home a lot of Ethereum.
A smart trader has exploited various protocols in the decentralized finance (DeFi) space to net a whopping $350,000 in profits. As Decrypt reported yesterday, a clever set of instructions—all executed in one big transaction—enabled someone to leverage current weaknesses in the DeFi ecosystem for their own gain. By using several decentralized financial tools, and a small dose of price manipulation, they were able to take home a lot of Ethereum. DeFi protocol bZx says it lost funds via a margin-le...
Though the trader’s identity remains unknown, the modus operandi was the same as the last hack, suggesting the same person.
The main focus was on bZx, which maintains the Fulcrum protocol. In the company’s Telegram chat, bZx’s co-founder, Kyle Kistner, confirmed the second attack, writing that it appears to be “an oracle manipulation attack.” An admin in the channel claimed that user funds are safe.
We have hit the pause button on the protocol again in light of suspicious transactions using flash loans and trading on Synthetix.
— bZx (@bzxHQ) February 18, 2020
On Twitter, the company said that it has paused the “decentralized” protocol again. The DeFi community were quick to point out this means that bZx still has ultimate control over the protocol, meaning it’s still a centralized system.
Eric Wall, CIO at Arcane Assets, defended the DeFi ecosystem, arguing that some protocols are more decentralized than others. He argued that there are several types of admin keys: those that can control funds—such as the ones bZx has—and those that can’t.
“A DeFi admin key can allow you to pause/freeze a contract. This is very bad! Oh no! But it's not identical to a centralized exchange unless that admin key allows you to confiscate individual user balances,” he tweeted.
Tweets like "DeFi apps are no different than centralized exchanges because all the contracts have admin keys" is the cheap, boring fast-track to "CT wokeness" these days, forcing me to take the devil's advocate and point out why that's sometimes wrong. Warranted retort:
— Eric Wall IS RIGHT (@ercwl) February 17, 2020
So, it’s good that at least some DeFi protocols don’t have such admin keys—because otherwise Ethereum co-founder Vitalik Buterin would probably want them to “burn in hell.”
Formula 1 has renewed its partnership with exchange platform Crypto.com, extending the agreement through 2030 as both entities seek to capitalize on their shared momentum. The renewed partnership will see Crypto.com continue to feature prominently at key Formula 1 events, including the Miami Grand Prix, where it has been the title sponsor since the race’s inception in 2022. The deal, first inked in 2021, marked Formula 1’s foray into the crypto world at a time when digital assets were experienc...
Mo Shaikh, a co-creator of the Aptos blockchain and co-founder and CEO of the Aptos Labs firm that helps support it, announced Thursday that he's leaving the company to focus on a "new chapter." "Today, I am stepping away from Aptos Labs to start a new chapter," Shaikh wrote on X. "One of my true passions lies in building companies from the ground up, and we have done that at Aptos Labs by building a world-class team." "I leave Aptos Labs with the utmost confidence in the team," he continued, "a...
Building on the momentum of anticipated changes to U.S. crypto policy, Binance.US said it aims to restore its USD services in early 2025, according to a statement shared with Decrypt. It marks the exchange's first major operational shift as regulatory pressure forced the exchange to suspend fiat trading last year. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals. "While I can't provide a de...
