An Aave fork on Blast network liquidated user positions worth over $26 million due to an erroneous threshold change. Pac Finance, an iteration of decentralized finance (defi) lender Aave on Coinbase’s layer-2 chain Blast, attempted to adjust its loan-to-value (LTV) parameters on April 11. Instead, the Aave fork unknowingly reduced its liquidation threshold. The result was a...
The U.S. government is the largest Bitcoin holder among nations worldwide, with approximately $14.7 billion worth of BTC. According to Arkham data, the U.S. government currently holds 212,847 BTC in its treasury wallets, just behind MicroStrategy, which owns 214,246 BTC, which is currently valued at $14.8 billion. Apart from Bitcoin, the U.S. has collected significant quantities of other digital currencies, including Ethereum (ETH)...
A former Amazon software engineer Shakeeb Ahmed was sentenced to three years in prison for exploiting smart contracts. The breaches in 2022 resulted in the theft of over $12 million in different cryptocurrencies. The trial was the first-ever sentencing for a cyberattack on smart contracts. Ahmed admitted in December 2023 to manipulating smart contracts. By inserting fraudulent pricing data into the...
LONDON: Instagram says it’s deploying new tools to protect young people and combat sexual extortion, including a feature that will automatically blur nudity in direct messages. The social media platform said in a blog post April 11 that it’s testing out the features as part of its campaign to fight sexual scams and other forms of “image...
Due to EU anti-money laundering rules, Kraken will delist privacy cryptocurrency Monero in Belgium and Ireland by June 10. Kraken announced it will suspend Monero (XMR) deposits and trading on May 10. The withdrawals would remain open until June 10, but customers were advised to close all margin and leveraged positions before XMR trading is suspended. XMR hardly reacted...
Galxe announces the launch of Identity Protocol, introducing an identity infrastructure that focuses on user privacy, security, and sovereignty. Utilizing Zero-Knowledge Proofs (ZKP), the protocol lets users control their digital identity and private data during public verification scenarios. According to the company’s blog, Galxe Identity Protocol aims to empower users with control over their digital identity and...
Bitfinex Securities is launching a tokenized debt offering to fund the construction of a new Hilton hotel. According to the Bitfinex press release, the new hotel will be at the El Salvador International Airport. The token will be issued under the ticker HILSV, which will be available for trading in exchange for U.S. dollars and the USDT...
Binance Labs invests in BounceBit to transform Bitcoin’s role with innovative solutions. Binance Labs, the venture capital and incubation division of Binance, has invested in BounceBit, a Bitcoin restaking and centralized decentralized finance (cedefi) protocol. “BounceBit unlocks new avenues for Bitcoin’s utilization with the fusion of cefi and defi.” Yi He, Co-Founder of Binance and Head of Binance Labs He also...
FTX Founder Sam Bankman-Fried requested permission to stay in a temporary detention facility in New York City. According to a document submitted to the U.S. District Court, Bankman-Fried’s legal representatives are seeking consent to allow him to stay at the Metropolitan Detention Center in Brooklyn. Since August 2023, Bankman-Fried has been held at this facility. His lawyers argue that...
Chainlink has launched a new Transporter application to facilitate the movement of crypto assets and data across multiple networks. The application claims to be a cost-efficient solution for executing high-value token transfers across blockchains, ensuring users a secure transactional experience. “Transporter makes it easier to utilize the security benefits of Chainlink’s CCIP for the transfer of large token value...
