Cryptocurrency Analysis and News Portal
Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects and, thus, for the crypto space, it seems to be fueling infrastructure and security developments.At
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The proposal defines how changes to an account's transaction sequence can be made on the XRP Ledger to ensure the movement of tokens between XRP Ledger and associated sidechains. Source
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Software engineers and members of the development lab Ripplex want to create a cross-chain bridge for the XRPL network to bolster cross-chain transfers between different blockchain networks. According to a recent Github draft, the proposal outlines how the cross-chain bridge could function and suggests ways to prevent transaction replay. Ripplex Dev
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Federal investigators have credited North Korea’s infamous hacker wing the Lazarus Group with attacking the bridge as part of their multi-year campaign to steal hundreds of millions of crypto dollars from exchanges and infrastructure. That campaign funds North Korea’s nuclear weapons program, investigators have said. Source
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The exploiter is probably earning yields on staked cryptocurrency. Source
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The Uniswap DAO has approved a second non-binding proposal, called a “temperature check,” to make Wormhole the official bridge for cross-chain governance of the protocol between BNB Chain and Ethereum, according to the official proposal page.BREAKING: Wormhole has won the vote to be Uniswap's designated bridge to the Binance Chain!
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The vote was technically a “signaling” proposal, meaning its passage does not automatically install Wormhole as Uniswap’s official BNB bridge. Instead, the outcome means Wormhole will be written into an upcoming, official proposal to deploy Uniswap v3 on BNB chain. Source
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“A trusted-party vulnerability (also called a ’backdoor’) is an undisclosed capability of a trusted party, that can compromise the function of the system,” Prestwich explained in a tweet outlining his findings. According to Prestwich, LayerZero has the ability to unilaterally steal or move around funds locked up with platforms that
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Last year proved that the Web3 space is not just a phenomenon but rather the future of digital interactions. However, as pervasive as the space has become, many are still skeptical as to how it can and will be a part of their lives. Many developers are seeking ways to bridge
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North Korean exploiters behind the Harmony Bridge attack continue to launder the funds stolen in June 2022. According to on-chain data revealed on Jan. 28 by blockchain sleuth ZachXBT, the perpetrators moved another $27.18 million in Ethereum (ETH) over the weekend.The tokens were transferred to six different crypto exchanges, noted
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