KyberSwap promised $48 million in compensation to hack victims
In a bid to rectify the aftermath of the staggering $48.8 million hack that occurred in November, the KyberSwap decentralized exchange has pledged to extend grants from the project's treasury to assuage the plight of affected users. Initial assessments indicate that the Elastic Pools liquidity pool bore the brunt of this heist, suffering an approximate loss of $47 million in various cryptocurrencies. While highlighting that clients had independently assumed the inherent risks associated ...
KyberSwap promised $48 million in compensation to hack victims
In a bid to rectify the aftermath of the staggering $48.8 million hack that occurred in November, the KyberSwap decentralized exchange has pledged to extend grants from the project's treasury to assuage the plight of affected users. Initial assessments indicate that the Elastic Pools liquidity pool bore the brunt of this heist, suffering an approximate loss of $47 million in various cryptocurrencies. While highlighting that clients had independently assumed the inherent risks associated ...
User lost $700,000 due to an error in setting up the liquidity pool
A Uniswap user recently experienced a substantial financial loss, exceeding $700,000, due to a configuration error when establishing a liquidity pool. The incident unfolded quickly as a result of an influx of MEV (Miner Extractable Value) bots taking advantage of the user's misconfigured pool. It appears that the user mistakenly set the price for the CRV token at $1, despite the actual market value of CRV being $0.53 at the time. Following the injection of approximately $1.56 million wor...
User lost $700,000 due to an error in setting up the liquidity pool
A Uniswap user recently experienced a substantial financial loss, exceeding $700,000, due to a configuration error when establishing a liquidity pool. The incident unfolded quickly as a result of an influx of MEV (Miner Extractable Value) bots taking advantage of the user's misconfigured pool. It appears that the user mistakenly set the price for the CRV token at $1, despite the actual market value of CRV being $0.53 at the time. Following the injection of approximately $1.56 million wor...
Tether has stopped transferring USDT to fiat for a DeFi project from Singapore
Tether's decision to stop converting its stablecoin USDT into US dollars for Singapore-based DeFi protocol Cake has raised questions and concerns within the crypto community. The move, attributed to "changes in its rules," comes amid a backdrop of increased scrutiny and regulatory measures in the cryptocurrency space, particularly related to stablecoins. Tether, as one of the largest issuers of stablecoins, has faced its share of regulatory challenges and investigations. Tether's re...
Tether has stopped transferring USDT to fiat for a DeFi project from Singapore
Tether's decision to stop converting its stablecoin USDT into US dollars for Singapore-based DeFi protocol Cake has raised questions and concerns within the crypto community. The move, attributed to "changes in its rules," comes amid a backdrop of increased scrutiny and regulatory measures in the cryptocurrency space, particularly related to stablecoins. Tether, as one of the largest issuers of stablecoins, has faced its share of regulatory challenges and investigations. Tether's re...
The French regulator checked the Paris offices of Worldcoin
The Worldcoin project, which introduced its World ID protocol based on zero-knowledge proofs for identity verification, has been under scrutiny from regulators in various countries. On August 30, the National Commission for Informatics and Liberties of France (CNIL) conducted checks at the Paris office of Worldcoin as part of an ongoing investigation into the project's compliance with the legality of using biometric data. Worldcoin's World ID protocol allows individuals to identify ...
The French regulator checked the Paris offices of Worldcoin
The Worldcoin project, which introduced its World ID protocol based on zero-knowledge proofs for identity verification, has been under scrutiny from regulators in various countries. On August 30, the National Commission for Informatics and Liberties of France (CNIL) conducted checks at the Paris office of Worldcoin as part of an ongoing investigation into the project's compliance with the legality of using biometric data. Worldcoin's World ID protocol allows individuals to identify ...
Analysts state extreme apathy in the bitcoin market
The current state of the digital gold market, often referred to as Bitcoin due to its perceived store of value properties akin to gold, has reached a level of extreme calmness and lack of market enthusiasm. This observation is drawn from an analysis conducted by experts at Glassnode. One of the key indicators cited by these analysts is the remarkably low volatility levels in the market, which are reflected in the narrowing spread of Bollinger bands to a level as low as 2.9%. Such low volatili...
Analysts state extreme apathy in the bitcoin market
The current state of the digital gold market, often referred to as Bitcoin due to its perceived store of value properties akin to gold, has reached a level of extreme calmness and lack of market enthusiasm. This observation is drawn from an analysis conducted by experts at Glassnode. One of the key indicators cited by these analysts is the remarkably low volatility levels in the market, which are reflected in the narrowing spread of Bollinger bands to a level as low as 2.9%. Such low volatili...
