Finance Redefined: One hack to bring down a whole market, Feb 10–17
The Alpha Homora hack is still rippling through markets. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.The Alpha Homora and Cream Finance hack has made a gigantic mark in the DeFi space this week.It is the largest single hack in DeFi history at $37 million in funds stolen. It is also one of the most complex, apparently leveraging several honest-to-God vulnerabilities in Alpha Homora. A few missing input checks in very specialized conditions allowed the hacker to abuse Alpha Homora’s privilege of borrowing an unlimited amount of funds....
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Analytical data reveals that DeFi’s total value registered another dip, with the total value locked (TVL) falling below $50 billion at the time of writing. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The last week’s headline was dominated by some of the biggest hacks in DeFi. This week is redemption time for many DeFi protocols that either averted an attempted hack or got a significant chunk of their stolen funds back.The BitBTC bridge reportedly had a bug....
While price volatility remained a key factor, major DeFi tokens registered double digit loss over the past week as the DeFi TVL hovers near $50 billion mark. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw Axie Infinity’s Ronin bridge relaunch with a fully backed 1:1 Ether (ETH) nearly three months after the infamous $600 million hacks.MakerDAO plans to invest $500 million into United States Treasurys and bonds to weather....
Pickle Finance got hacked so badly on Saturday that its developers asked to be merged into Yearn. Finance Redefined is Cointelegraph’s weekly DeFi-centric newsletter, delivered to subscribers every Wednesday.On Saturday, we saw one of the most complex smart contract hacks yet affecting Pickle Finance, a yield optimization protocol very similar to Yearn — an important point for later.PeckShield provided a technical explanation for it, but I think only Solidity developers can really understand it. The high-level take is that the hacker found two textbook examples of code vulnerabilities in....
Analytical data reveals that DeFi’s total value locked registered a minor dip from the past week, falling to a value of $56.45 billion. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw several new developments despite a bearish phase brought on by the lending crisis in the crypto market. Another crypto lender, Celsius, with high stakes in DeFi protocols, filed for bankruptcy. The overall DeFi market fell to new lows in the....
Blockchain analytics firm Chainalysis has labeled October 2022 as “the biggest month in the biggest year ever for hacking activity." Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.October is historically associated with the bulls, but in 2022, the month has also become the leader in crypto hacks as barely halfway through, and the DeFi ecosystem has already seen nearly a dozen hacks resulting in losses of hundreds of millions of dollars.The largest hack occurred....