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Sam Sun, a researcher at crypto investment firm Paradigm, explained on Twitter that a recent update to one of Nomad’s smart contracts made it easy for users to spoof transactions, meaning people could withdraw money from the bridge that didn’t actually belong to them. Original Source
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Bridge exploits continue to prove to be a top concern across DeFi and crypto at large, as bridges time and time again have proven to be a major point of vulnerability. Enter once again another prime example with the latest 9-figure exploit, this time on the multi-chain Nomad Bridge. In the
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The newly announced backers included the venture capital arm of crypto exchange Coinbase, non-fungible token (NFT) marketplace OpenSea, Crypto.com Capital, crypto market-maker Wintermute, decentralized finance (DeFi) platform Gnosis and the Polygon blockchain. The round was led by crypto investment firm Polychain. Source
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In March 2021, Aztec launched the zk.money protocol, which provided a privacy shield for direct Ethereum transactions. Connect moves the shield out further, allowing users to privately connect to Ethereum’s decentralized finance (DeFi) ecosystem, including popular apps Uniswap, Lido and Aave. Private DeFi actions could include staking, lending, swaps and
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When it comes to nonfungible tokens, or NFTs, the subject is often a hit or miss for traditional gamers. While some players welcome the idea of being able to trade in-game digital collectibles for real money, others lament that NFTs could potentially take away the inherent entertainment built within games.
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Multichain, a cross-chain platform, has announced the integration of the Bitcoin-based (BTC) smart contract protocol Rootstock (RSK) blockchain into its ecosystem. This will allow users to exchange Ether (ETH), USD Coin (USDC), Binance USD (BUSD), and other assets between RSK, Ethereum, and BNB Chain.According to Monday's announcement, the integration is
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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
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The Lazarus Group – a North Korean hacking group believed to be supported by the Kim regime – is likely behind last week’s hack of Harmony Bridge, according to new analysis by blockchain research firm Elliptic. Original Source
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The March exploit affected Ronin validator nodes for Sky Mavis, the publisher of the popular Axie Infinity game, and the Axie DAO, with attackers stealing some 173,600 ether (ETH) and 25.5 million in USDC. An attacker “used hacked private keys in order to forge fake withdrawals” from the Ronin bridge
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While crypto prices have seen some healing during the last few days, the total value locked (TVL) across the entire decentralized finance (defi) ecosystem has also improved. The TVL in defi has seen an increase of 7.19% since June 20, and the defi protocol Makerdao’s TVL dominates by 10.37% this
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