The Ethereum (ETH) price has gained momentum as positive investor sentiment recorded an impressive surge. ETH is up by 0.3% in the past 24 hours and is trading at $3,080 at the time of writing. The asset’s market cap is currently standing at the $370 billion mark. However, Ethereum’s daily trading volume plunged by 21%, dropping to $17.1...
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...
Binance has appointed a board of directors for the first time as regulatory crackdown intensifies. The newly formed board will be chaired by Gabriel Abed, previously Barbados’ ambassador to the United Arab Emirates. The board comprises seven members, including Binance CEO Richard Teng and other key executives such as Heina Chen, Jinkai He, and Lilai Wang, who were...
In the first quarter of the year, the crypto industry lost $336.3 million to hacking, 23.1% less than last year. According to the Immunefi report, in the first three months of 2024, crypto projects lost more than $321 million due to 46 hacks and 15 fraudulent incidents. Decentralized finance (defi) is a prime target for hackers, accounting for 100%...
ParaSwap, a decentralized finance aggregator, has started returning crypto to users after fixing a critical vulnerability in its Augustus v6 smart contract identified last week. The smart contract bug emerged shortly after the contract’s introduction on March 18, aimed at improving swapping efficiency and reducing gas fees. However, the contract contained a critical vulnerability, allowing hackers...
Crypto investment firm Pantera Capital says tokens with promising underlying protocols and product market fit are set to outperform in the upcoming cycle. According to a new report from Pantera Capital, tokens with promising underlying protocols and a demonstrated product-market fit are expected to outperform in the upcoming cycle “just as one would expect across other asset...
