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Cybercriminals have accelerated their shift away from crypto mixers for cross-chain bridges over the past year, according to blockchain forensics firm Elliptic.In June and July, nearly all of the crypto stolen was laundered through cross-chain bridges, Elliptic’s data shows a complete reversal from the first half of 2022. In a Sept.
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Fantom (FTM) dropped 9.9% even as developers addressed concerns among community members. “For the avoidance of doubt, FTM was never issued or managed by Multichain, so wFTM, FTM ERC-20, and FTM on Opera are not affected,” Fantom Foundation tweeted. Source
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Zero-knowledge proofs (ZK-proofs) are a key technology explored by many in the crypto industry. A zero-knowledge protocol is a cryptographic method that allows one party to prove to another party that something is true without revealing any information. The technology is vital for Ethereum layer-2 solutions to achieve blockchain scalability, and
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Storage proofs, a feature that could minimize cross-chain exploits by allowing users to keep their assets on one chain and prove that it's there on a different chain, will go live on Starknet soon. Source
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According to the global payment provider Visa, 2022 became a record-breaking year for cryptocurrency thefts, with over $3 billion stolen in on-chain thefts. Cryptocurrency bridge services were a favored target for threat actors. Visa published the biannual threats report on March 20. On 24 pages, the document contains data on all
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Over $2.5 billion was stolen in cross-chain crypto bridge hacks from 2021 to 2022, according to a report by Token Terminal. But, despite several attempts by developers to improve bridge security, a debate from December 2022 to January 2023 on the Uniswap DAO forums has laid bare security weaknesses that continue
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Blockchain bridges allow decentralized finance (DeFi) users to use the same tokens across multiple blockchains. For example, a trader can use USD Coin (USDC) on the Ethereum or Solana blockchains to interact with the decentralized applications (DApps) on those networks.While these protocols may be convenient for DeFi users, they are
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As Uniswap DAO’s vote to deploy to BNB chain continues, LIFI CEO Phillip Zentner argued in a February 6 forum post that the current proposal is flawed. According to him, the plan to use Wormhole as the sole governance bridge for Uniswap should be abandoned. Instead, he claimed that Uniswap
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Place/Date: - January 26th, 2023 at 3:12 pm UTC · 3 min read Source: Snowfall Protocol Photo: Snowfall ProtocolCircle, one of the founders of USDC cryptocurrency, is launching an on-chain utility to allow users to transfer USDC from one blockchain to another.
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Although they grabbed less media attention than the collapse of centralized organizations, the so-called bridge exploit incidents in 2022 again proved that the decentralized finance (defi) ecosystem still lacks sufficiently secure solutions, Hugo Philion, the co-founder and CEO of Flare Networks, has argued. Philion insists that the lack of such
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