Scroll, a ZK rollup Layer 2 network, is up 23% over the past seven days to reach a TVL of $1.03 billion, according to L2Beat data. Meanwhile, the total value locked for all Ethereum Layer 2s is up 12.04% over the last week to reach $42.04 billion. Scroll Hits $1 Billion TVL Scroll has become […]
Crypto market intelligence provider IntoTheBlock published a report on Thursday comparing the best risk-adjusted methods to earn yield in the world of decentralized finance (DeFi). Despite the “nearly infinite number of composable strategies” the firm claims its most optimal to stick to “straightforward strategies,” that boil down to “only a handful of different primitives.” The […]
Ethereum generated the most fees among the top twenty protocols over the past 30 days with around $180 million, according to new data from Token Terminal. On June 17, the crypto analytics platform reported that Ethereum was way ahead of other blockchains, which were dominated by layer-1 chains and DeFi protocols, with only one layer-2 […]
The UwU Lend protocol, previously targeted in a nearly $20 million hack on June 10, is facing an ongoing cryptocurrency exploit that has so far resulted in the theft of $3.7 million. This development comes as the protocol has been making efforts to reimburse its users following the $19.3 million June 10 hack. $3.7 Million […]
Ahmad Shadid, the founder of the decentralized physical infrastructure network (DePIN) protocol io.net, has announced that he is stepping down as CEO “effective immediately.” He said that despite the allegations against him in the past, his resignation as CEO is to allow io.net to move forward without interference. COO Tory Green Takes Over “Today I […]
Sam Kazemian, founder of Frax Finance, has alleged that an inside job at X was responsible for the hack of the project’s official account. The breach, which occurred on June 1, led to the decentralized stablecoin protocol behind FRAX USD losing access to its X account. Frax Finance Hack In a Telegram post dated June […]
Polygon has witnessed a remarkable surge in its stablecoin market capitalization this quarter. According to the latest report from Messari, the Ethereum Layer 2 solution’s stablecoin market cap soared to a whopping $1.5 billion, reflecting a significant 19% increase on a quarter-over-quarter basis. Stablecoin Adoption on Polygon Soars Tether’s solidified its position as the dominant stablecoin […]
A confidential United Nations report obtained by Reuters reveals that North Korea’s notorious cybercriminal group known as the Lazarus Group transferred millions of stash of stolen cryptocurrency back to the Asian country last year. In March 2023, these North Korean hackers illicitly took $147.5 million worth of cryptocurrency from HTX, a crypto exchange owned by […]
While the crypto market witnessed significant bloodshed in April, layer-2 networks recorded substantial developer activity, signaling a strong belief in these projects despite the latest slumps in the value of their native tokens. A tweet by crypto data analytics platform Santiment revealed that the top ten layer-2 networks were selected by counting each project’s non-redundant […]
Pac Finance, a lending app on Blast, has had its users report a $24 million liquidation on April 11 due to a sudden change in parameters by the developer wallet. Mass liquidations are common for leveraged traders who borrow crypto, but they often occur due to fluctuations in the market, not protocol parameter changes. Pac […]