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Skyward finance, an IDO platform enabling fair token distribution for projects on the NEAR Protocol, has reportedly been exploited for 1.1M NEAR tokens, worth an estimated $3 million USD at time of publication. The news was shared on Twitter by Aurora Lab's community moderator Sanket Naikwadi, who stated that the exploit
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On-chain data shows that four projects affected in the attack received the stolen tokens over the weekend. Source
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Decentralized lending protocol Compound has paused the supply of four tokens as lending collateral on its platform, aiming to protect users against potential attacks involving price manipulation, similar to the recent $117 million exploit of Mango Markets, according to a proposal on Compound’s governance forum that was recently passed.With the
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The attack comes as October looks set to be the worst month for exploits and attacks in the history of cryptocurrencies. Source
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On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan exploit and following the attack, the team detailed the Quickswap Lend platform will be terminated. Quickswap Hacked for $220K, Dex Project Sunsets Lending Platform 2022 has been quite the year for decentralized finance (defi) hacks as billions have
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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 last week’s headline was dominated by some of the biggest hacks in DeFi. This week is redemption time for many DeFi protocols that either
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Chris Tarbell, co-founder boutique investigative firm NAXO, discusses why the $114 million exploit of Mango Markets was more about market manipulation, rather than hacking. Source
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The exploiter had come forward and returned most of the stolen funds a few days ago. Source
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One crypto developer says that centralization and reliance on private key holders are to blame, not the inherent technology and logic behind the bridges themselves. Original Source
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BNB Chain, the native blockchain of Binance Coin (BNB) and the Binance crypto exchange, has been subject to security-related developments over the last month.On Thursday, Oct. 6 the network experienced a multi-million dollar cross-chain exploit. The incident caused BNB Chain to temporarily suspend all withdrawal and deposit activity on the
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