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Out of it emerges, not the story of a mechanical technology or the precision of math and cryptography, but of humanity itself, of its dreams, its dramas, its successes and, yes, its failures. CoinDesk’s 10 years of coverage uncovers the Shakespearean breadth of the crypto story. Original Source
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The March 13 flash loan attack against Euler Finance resulted in over $195 million in losses. It caused a contagion to spread through multiple decentralized finance (DeFi) protocols, and at least 11 protocols other than Euler suffered losses due to the attack.Over the next 23 days, and to the great relief
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In the early days of Bitcoin, Mt. Gox was by far the most prominent Bitcoin (BTC) exchange in the world. The Tokyo-based company was responsible for more than 70% of all Bitcoin transactions in 2013. However, by early 2014, it had collapsed spectacularly, leaving investors and traders with losses amounting
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So, we’re now in a less than ideal situation. Bad actors are undeterred by the lack of regulation, but good actors are. The result: Bad actors face far less competition. It’s not, thankfully, zero competition. There are quite a lot of good actors in this space, but due to absent
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At the end of January 2022, member of the Belgian parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin (BTC). Celebrating the anniversary of this experiment, Cryptox reached out to a lawmaker to know more about his experience. Back in 2022, Beukelaer, who represents Humanist
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In May 2022, Terraform Labs’ LUNA cryptocurrency and TerraUSD (UST) stablecoin collapsed, triggering a massive shock in the crypto industry. Six months later, the bruised industry took another hammering as one of the largest cryptocurrency exchanges, FTX, filed for bankruptcy protection and billions of dollars of user assets went missing.
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A Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added: “Regulation that punishes after the fact won’t catch it. Investor due diligence won’t either.” One Lesson From FTX Collapse That Won’t
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Boerlage said records of internal conversations show Pertsev, Semenov and Storm ran Tornado like a business, discussing management and operational decisions, and that they could, in practice, outvote other holders of the protocol’s TORN tokens. In particular, she said, they could have chosen to impose better laundering checks but doing
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Staff from FTX Japan and other subsidiaries found out about the insolvency filing on Twitter, CoinDesk was told. Original Source
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While some are unable to recover from hacking incidents and have to throw in the towel, others are able to pick up the pieces, learn from their shortcomings and go at it for another round. In an announcement sent to Cryptox, Axie Infinity creators Sky Mavis said that it had teamed
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