Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million
A DeFi project that launched on Thursday had raised $60 million overnight during its token sale. However, the funds seem to have disappeared, and no one is sure exactly how. On Friday, investors woke up to the shocking news that their funds had disappeared. Around 13,556.36 ETH, which was worth $60 million at the time, was drained from AnubisDAO’s liquidity pool. Related Reading | DeFi Hack: Vee Finance Losses $35 Million To Hackers Following Mainnet Launch The project, AnubisDAO, was promoted as a fork of OlympusDAO — a cryptocurrency backed by the assets in its treasury. It was....
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Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms. The total amount of money deposited at DeFi services has spiked from just $500 million in 2019 to $247 billion this year. Related Reading | Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million According to a report from London-based firm Elliptic, the overall losses caused by DeFi exploits have totaled $12 billion in the past year. Out of that amount, fraud and....
Many heads turned to the idea that a token meant to serve as a backed stablecoin may actually be manipulating the game. In enters Tether. These were heavy considerations especially with all of the beauty going on in the crypto world. Here is quick dive into what happened during the trials earlier this year, and how things have played out for the parties involved since. A New York State Of Affairs A complaint filed earlier this year claimed that Tether (USDT) had knowledge around the volatility of crypto’s total market capitalization, including a skyrocketing $795 billion in late....
PRESS RELEASE. IOST-powered DeFi Protocol Yokozuna Finance is warming up to claim the title in the IOST’s dApp ecosystem. The sumo-themed gamified DeFi and NFT project has already created a buzz among the IOST and DeFi community and aims to climb the ranks with its official launch on 10th December, 11:00 AM (UTC) The sumo-inspired project, with a total supply of 100,000,000 and a deflationary distribution model, will be offered via FAIR LAUNCH to stakers on app.yokozuna.fi is being developed and guided by an experienced global team and an advisory board composed of professional and....
Another Binance Smart Chain project has been hit with a flash loan attack according to a post mortem written by the Burgerswap team. The project’s official Twitter account said at around 3 a.m. on Friday, Burgerswap suffered from a flash loan attack with the hackers stealing $7.2 million in funds. Binance Smart Chain Defi Protocol Burgerswap Drained for $7.2M The Burgerswap project explained on Friday that the project saw $7.2 million in funds drained after a malicious flash loan attack. “At around 3 am on May 28th (UTC+8) Burgerswap on the BSC chain encountered a flash loan....
The cryptocurrency market has suffered greatly, particularly since Bitcoin had its worst quarter in 11 years. According to data releasedby Immunefi, a leading bug bounty and security services platform, the Decentralize Finance (DeFi) ecosystem lost $678 million, in the second quarter of 2022. Immunefi Says Loss Is x1.5 Of Q2 2021 DeFi, an emerging financial […]