Cryptocurrency Analysis and News Portal
Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw Axie Infinity’s Ronin bridge relaunch with a fully backed 1:1 Ether (ETH) nearly three months after
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The Lazarus Group – a North Korean hacking group believed to be supported by the Kim regime – is likely behind last week’s hack of Harmony Bridge, according to new analysis by blockchain research firm Elliptic. Original Source
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On June 23, 2022, the Harmony development team announced that $100 million was siphoned from the Horizon bridge, and the organization explained it was working with national authorities and forensic specialists. According to an account published Polygon’s chief information security officer, Mudit Gupta, the Horizon bridge attacker allegedly took control
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Sky Mavis, the developer of play-to-earn game Axie-Infinity, will reimburse victims of the $620 million Ronin bridge hack. Original Source
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Vagner is also the manager of his brother, the Grammy-winning multi-instrumentalist Richard Vagner, who co-founded an NFT fantasy football club called Spoiled Banana Society (SPS) with Boris. The attacker also posted a phishing link in the SPS Discord channel, though the message was subsequently deleted, Richard said. Source
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The United States Treasury Department Office of Foreign Assets Control (OFAC) announced Friday that it was sanctioning cryptocurrency mixer Blender.io for its role in laundering proceeds from the hacking of Axie Infinity's Ronin Bridge. North Korean state-sponsored hackers Lazarus Group have been identified as the perpetrators of the attack. Treasury Under
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DeFi Lender Rari Capital/Fei Loses $80M in Hack Original Source
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The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cryptox previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit
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The operators of the Ronin exploit wallet, said by the FBI and OFAC to be North Korea's Lazarus hacking group, have been laundering funds by moving them from a sanctioned address to an intermediary address before sending the funds to Tornado Cash, a mixer designed to obfuscate the source and
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The funds were spread over 86 accounts, Binance’s founder confirmed. Source
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