Saturday, April 13, 2024
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DeFi could solve Africa’s foreign exchange problems, neobank CEO says

Forex liquidity and currency swaps are hard to access for many in Africa, which limits the use of United States dollar-based services in the continent’s import-dependent economies. This creates a vacuum that decentralized finance (DeFi) could solve, leveraging cryptocurrencies, blockchain networks and services, according to the CEO of Canza Finance, Pascal

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Defi platforms Aerodrome and Velodrome hit by front-end cyberattacks

Defi platforms Aerodrome and Velodrome suffer a front-end attack, with an estimated $40,000 compromised.  Two prominent defi platforms, Aerodrome and Velodrome, have experienced security breaches in their front-end systems. The incidents occurred on Nov. 28, as disclosed by the platforms. Both Aerodrome and Velodrome alerted their users through X, advising them to

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Aerodrome and Velodrome DeFi platforms experience front-end hacks

The decentralized finance (DeFi) platforms Aerodrome and Velodrome reported compromises to their front ends on Nov. 28. The two platforms posted announcements on X (formerly Twitter) stating their front ends were compromised and asked users not to interact with the platforms while investigations are underway. Our frontend is currently compromised. Please

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Ethereum turns deflationary as validators exit and defi transactions drop 57%

Ethereum’s supply turns deflationary amid a decrease in validator participation and declining NFT and defi transactions. The recent dynamics of Ethereum’s blockchain network signal a significant shift towards deflation, according to data from Glassnode. This is driven by a combination of reduced validator participation and increased network activity. A notable increase

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KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite

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KyberSwap attacker used ‘infinite money glitch’ to drain funds: DeFi expert

The attacker who drained $46 million from KyberSwap relied on a “complex and carefully engineered smart contract exploit” to carry out the attack, according to a social media thread by Ambient exchange founder Doug Colkitt. Colkitt labeled the exploit an “infinite money glitch.” According to him, the attacker took advantage of

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