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The Ethereum-based decentralized finance (DeFi) protocol Aave suffered an attack led by Avraham Eisenberg. The controversial individual was behind a sophisticated run against Mango Markets. The run has been called an attack by some and a clever strategy by others. Aave (AAVE) trades at $57 with a 7% and 36% loss
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As described by analysts at Lookonchain on Nov. 22, tokens of decentralized exchange Curve Finance (CRV) appear to have suffered a major short-seller attack. According to Lookonchain, ponzishorter.eth, an address associated with Mango Markets exploiter Avraham Eisenberg, first swapped 40 million USD Coin (USDC) on Nov. 13 into decentralized finance
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Despite being underpinned by blockchain technology that promises security, immutability, and complete transparency, many cryptocurrencies like Bitcoin SV (BSV), Litecoin (LTC) and Ethereum Classic (ETC) have been subject to 51% attacks several times in the past. While there are many mechanisms by which malicious entities can and have exploited blockchains,
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Moola, a decentralized finance (defi) lending and borrowing platform, was recently exploited for $8.4 million in what has been described as an “incredibly simple attack.” Moola responded to the attack by pausing all activity on the platform. The defi platform also told the attacker(s) it was willing to negotiate a
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The attacker borrowed a large amount of cUSD and cEUR, two Celo-based stablecoins pegged to U.S. dollar and euro respectively, and CELO from the protocol using MOO as collateral, effectively draining the protocol of its funds. Trading on the platform was stopped at that time. Original Source
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Cross-party lawmakers cited worries over data privacy and taxation as they demanded a U-turn on the controversial European Central Bank decision to let Amazon participate in the digital euro project. Source
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Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit.Speaking to Cryptox, the security researcher explained that unlike proof-of-work (PoW) systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate,
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Multichain decentralized finance (DeFi) platform Kyber said it removed the attack vector used in an exploit that saw $265,000 stolen on Sept. 1. Source
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In light of the recent discussions around depegging its native token from USD Coin (USDC) amid sanctioning of Tornado Cash, MakerDAO co-founder Rune Christensen reached out to the community explaining why free-floating DAI may be the only choice for the decentralized autonomous organization (DAO).In his blog post, “The Path of
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This was possible because of how the Rainbow bridge works. As a wholly decentralized platform, Rainbow relies on several validators, called bridge relayers, who submit block info on Near blocks to Ethereum. Anyone can submit information to Rainbow, and false information could likely result in a loss of all user
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