$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

DeFi Projects Request Retroactive Funding Amid Downturn

Several of the largest decentralized finance (DeFi) projects, though surviving the crypto winter, have been forced to solicit funds from their own decentralized autonomous organizations.  Aave actions Aave Companies, the developer behind the largest DeFi lending project, requested retroactive compensation for the successful development and deployment of V3 of the Aave Protocol. In a post … Read more

Three Arrows Capital Wallet Removes Millions in ETH From DeFi Liquidity Pools

A wallet belonging to embattled hedge fund Three Arrows Capital has removed $33M in Staked ETH (stETH) from Curve Liquidity Farming Pool. According to Etherscan and Nansen, the embattled crypto hedge fund also removed 200 bitcoin (BTC), $4 million worth of Tether (USDT), and $4 million in wrapped ether (wETH) from Convex, another DeFi platform. … Read more

Eight Exchanges Including OKX, Gate.io, & AscendEX Signal Readiness for Vasil Hard Fork

Eight exchanges, including Gate.io, MEXC, Bitrue, OKX, and AscendEX, including five other top decentralized applications are ready for the Cardano (ADA) upgrade. The Cardano Foundation exchange integration team has committed to supporting exchanges holding ADA liquidity as they upgrade their systems. Users holding ADA on centralized exchanges will not be negatively affected by the exchanges’ … Read more

DeFi: Will It EVER Go Mainstream? In-Industry Experts Weigh In

DeFi: Is it the future of finance? Or too volatile to become mainstream? A panel of experts gives us their thoughts. The panel of experts didn’t all agree on the future direction of DeFi. Some, like Anderson Mccutcheon, the CEO and Founder of Chains.com isn’t feeling the vibe. “DeFi is headed downward. The future of … Read more

DeFi Projects Will Develop Decentralized Frontends After Tornado Cash Fallout

A small but growing number of decentralized finance (DeFi) projects including dYdX, Liquidity, GMX, Kwenta and more, are working on decentralized frontends (DeFe) in the wake of sanctions against Tornado Cash. Earlier this month, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned the privacy-protecting coin mixer Tornado Cash (TC) in an unwelcome … Read more

FBI Offers Safety Tips to DeFi Users Following Recent Hacks

The Federal Bureau of Investigation has issued a global alert warning Investors about the planned scams intending to steal users’ funds, including risks involved while using decentralized finance platforms. In a statement released on Tuesday, the FBI had recommended that crypto investors conduct thorough research on DeFi platforms, smart contracts, and protocols before using them, … Read more

ReFi: Saving the World Using Web3 is Easier Than You Think. Here’s How

ReFi: It’s an exciting time for builders and founders to make real change, says Rene Reinsberg, co-founder and President at Celo. We are harnessing the potential of innovative Web3 technologies to reimagine the financial infrastructure of the future in new meaningful ways. (Having lived through the fall of the Berlin Wall and the birth of … Read more

DeFi Responsible for 60% Rise in Crypto Hacks, Says Chainalysis

A surge in stolen funds from decentralized finance (DeFi) protocols has sent losses from cryptocurrency hacks soaring nearly 60% in the first seven months of the year. Between January and July 2022, stolen funds from cryptocurrency hacking amounted to $1.9 billion, up from $1.2 billion during the same period last year, according to a blog … Read more

Aave Responds to Blocking Addresses Over Tornado Cash Clampdown

DeFi lending protocol Aave Protocol said the TRM API on its app was responsible for blocking addresses that received ETH from unknown sources through Tornado Cash. In a Twitter thread on Saturday, the protocol claims that it receives blockchain intelligence from TRM Labs and has integrated TRM API into its frontend to ensure a safe and secure … Read more