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Artificial intelligence tools such as OpenAI’s ChatGPT will create more problems, bugs and attack vectors if used to write smart contracts and build cryptocurrency projects, says an executive from blockchain security firm CertiK.Kang Li, CertiK’s chief security officer, explained to Cryptox at Korean Blockchain Week on Sept. 5 that ChatGPT
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Decentralized finance protocol Zunami Protocol has confirmed it has encountered an attack on its “zStables” pool on Curve Finance.Blockchain security firm PeckShield estimates over $2.1 million was stolen from Zumani’s Curve Pool on Aug. 13, pegging the exploit to a price manipulation issue. Fellow blockchain security firm Ironblocks arrived at a
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One of the major Ethereum MEV (maximal extractable value) bots has been targeted in an attack, allegedly by an Ethereum validator. Source
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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 DeFi ecosystem started 2023 on a bullish note, similar to the broader cryptocurrency market. However, the bullish start to the year didn’t diminish the
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Solana-based decentralized finance protocol Raydium has suffered an exploit, according to a statement from the developer. An initial investigation by the team revealed that the attacker took over the exchange’s owner account. The team said that “authority” over the automated market maker and farm programs has been paused “for now.”Twitter
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Routing protocol pNetwork said it's working with Gala on a "misconfiguration" and that "all GALA tokens on Ethereum as well as the underlying bridge collateral are SAFE." Original Source
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As these examples suggest, focusing on the shortcomings of bridges while failing to address ground-level security measures is not the way forward. Bridges per se are not the problem; technology is, after all, agnostic. The most common factor across exploits is human error. Post-hack investigations and subsequent fixes often serve
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According to the co-founder of Debridge Finance, Alex Smirnov, the infamous North Korean hacking syndicate Lazarus Group subjected Debridge to an attempted cyberattack. Smirnov has warned Web3 teams that the campaign is likely widespread. Lazarus Group Suspected of Attacking Debridge Finance Team Members With a Malicious Group Email There’s been a great
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The inventor of Ethereum Vitalik Buterin took aim at the controversial Bitcoin price model Stock-To-Flow (S2F). Buterin believes the model is “not looking good” and openly criticized it because it gives crypto investors a “false sense of certainty”. Related Reading | Bitcoin Back At $21K After 75% Drop, Where Does It Go
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On September 21, 2021, an Avalanche-based decentralized finance (defi) platform Vee Finance announced that it suffered from an incident that siphoned 8,804 ether and 213 bitcoin out of the system. The team has suspended the defi platform contracts and stressed that the stablecoins have not been “affected by the attack.” Defi
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