Thursday, March 28, 2024
Home > Flaws

FTX failure reveals flaws in multifunction crypto-asset intermediaries — FSB

The Financial Stability Board (FSB) — the global body that monitors the financial services industry — released a report on Nov. 28 claiming the crypto industry might need additional regulations to prevent another catastrophe on the scale of the FTX scandal.According to the report, the FSB said the market turmoil

Read More

Solana hoses down ‘inaccurate’ CertiK report on Saga phone security flaws

A recent video from blockchain security firm CertiK made a series of “inaccurate” claims about a potential security vulnerability in Solana’s crypto-enabled Saga phone, Solana Labs has said. In a Nov. 15 post on X (formerly Twitter), CertiK claimed the Saga phone contained a “critical vulnerability” known as a “bootloader unlock”

Read More

Ex-employee exposes risk management flaws at FTX, Alameda

Aditya Baradwaj, a former employee at Alameda Research, recently illuminated the risky, rapid operational practices at FTX and Alameda, pointing to skipped safety protocols. In a Twitter thread, former Alameda Research employee Aditya Baradwaj looked inside the lack of risk management policies and procedures at cryptocurrency exchange FTX and trading firm

Read More

Crypto Can’t Be Used as Money Due to ‘Inherent Flaws,’ the Bank for International Settlements (BIS) Said After the FTX and Terra Collapses

Despite the millions of retail and institutional investors getting involved in the growing sector, “crypto has so far failed to harness innovation to the benefit of society,” said the report, prepared for a meeting of G20 finance ministers and central bank governors due to take place in Gandhinagar, India this

Read More

Industry execs confident in DeFi adoption despite security flaws: Finance Redefined

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.Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure

Read More

Industry execs voice confidence in DeFi adoption despite security flaws

With decentralized finance (DeFi) being a hub for various hacks and exploits, some may feel discouraged or wary of entering the space. However, professionals within the crypto space are confident that DeFi will have broader adoption in the future. From educating institutional investors to eliminating user experience barriers for retail investors,

Read More

Defi can go mainstream if it overcomes its flaws

The collapse of the now-bankrupt cryptocurrency exchange FTX has raised many concerns over unregulated centralized platforms. Investors are now coming to question how safe it is to keep one’s funds on these exchanges and have voiced grave concerns about centralized decision-making without any checks. FTX held one billion in a customer’s

Read More