$160M Wintermute Hack Becomes Fifth Largest DeFi Exploit of 2022

Wintermute CEO, Evgeny Gaevoy has confirmed that the multi-million-dollar Wintermute hack was linked to a critical bug in the Ethereum vanity address-generating tool called Profanity. Wintermute, a crypto asset algorithmic market maker, was on Tuesday hit for $160 million in its DeFi operations, Gaevoy said. More than 90 assets of different values were stolen, he … Read more

Delphi Labs Wants to Shut Down DeFi Protocol Mars After TVL Tumbles 99% to $2.6M

A proposal has been made to shut down DeFi credit protocol Mars following the spectacular collapse of the UST stablecoin, and its sister token LUNA, last week. Sponsored Sponsored It comes as Mars’ total value locked (TVL) crashed 99% to $2.6 million from $270 million amid the Terra ecosystem dramatic meltdown, which rippled across the … Read more

Fantom CEO: ‘Projects Will Not Be Terminated’ Due to Cronje, Nell Exit

Fantom Foundation CEO Michael Kong on Monday clarified that the sudden departure of top software architects Andre Cronje and Anton Nell will not lead to a shutting down of any of the projects built on the protocol. Sponsored Sponsored Cronje and Nell quit “contributing” to the DeFi and crypto sectors on March 6 and announced … Read more

Anchor Targets veTokenomics as Luna Foundation Adds $450M to DeFi Protocol’s Reserves

The Luna Foundation Guard (LFG) has topped up the Anchor yield reserve with $450 million, according to Do Kwon, CEO and founder of Terraform Labs, the South Korean entity behind the DeFi lending and borrowing protocol. Sponsored Sponsored Following the announcement, a new proposal was made on Feb. 18 to change the economic model of … Read more

Terra Founder Discusses Plan to Tackle Anchor’s Declining Reserves as LUNA Tumbles 20%

Do Kwon, co-founder and chief executive officer of Terraform Labs, laid out a series of measures on Jan. 28 to tackle the issue of depleting reserves on Anchor, the lending and borrowing DeFi protocol built on the Terra blockchain. Sponsored Sponsored Anchor pays around 20% interest on deposits of UST, the U.S. dollar-pegged stablecoin native … Read more

‘VeNomics’ Taking Over DeFi as New Model for Earning More Rewards

Vote escrowed tokens (VeTKN) are fast becoming a popular economic model for earning double the reward while securing more voting rights in decentralized finance (DeFi), according to Juan Pellicer, a research analyst at blockchain intelligence firm IntoTheBlock. Sponsored Sponsored Started by decentralized exchange (Dex) Curve Finance, the model, or VeNomics, has given rise to the … Read more

India’s 13-Year-Old Coder Raises $300,000 for New DeFi Project

Indian teenager Gajesh Naik made headlines earlier this year when he built Gaj Finance, a multichain decentralized finance (defi) protocol, which currently manages some $1.2 million in crypto of user funds. Sponsored Sponsored Now the 13-year-old high school student has raised $300,000 in pre-seed funding for his latest DeFi project called Taksh. Built on Avalanche, … Read more