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On Oct. 27, Onyx Protocol, a decentralized peer-to-peer lending platform, experienced a significant security breach, resulting in a loss of approximately $2.1 million due to an exploit in a low-liquidity market. The incident has raised concerns regarding the vulnerabilities present in decentralized finance (DeFi) platforms, particularly when it involves markets with
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Decentralized peer-to-peer lending platform Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity that was deployed on Oct. 27. The Onyx Protocol hacker exploited a known bug, a rounding issue behind the popular CompoundV2 fork, explained blockchain investigator PeckShield soon after alerting about the hack
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JPMorgan’s Onyx Coin Systems has scored another win in the Middle East with the completion of a blockchain-based cross-border payments pilot project with First Abu Dhabi Bank (FAB). The pilot phase was “executed seamlessly with satisfactory response times,” according to a statement. The FAB pilot wound up weeks after a similar
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BlackRock, the world’s largest asset manager, has tokenized its money market fund shared, which were later provided as collateral to Barclays in an over-the-counter derivatives deal, JPMorgan Chase & Co. announced on Wednesday. See related article: Binance users in Hong Kong hooked by US$450,000 phishing attacksFast FactsBlackRock executed the transaction on
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Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions.Bank ABC will at first use the U.S. dollar in transactions involving Bahrain, the United States,
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The aim of the project is to settle dollar trades in real time around the clock as opposed to over a matter of days and only during the working week. Source
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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Please welcome to the show two JPMorgan blockchain leaders Christine Moy, who’s the global head of Liink, formerly known as IIN, or the Interbank Information Network, and Naveen Mallela, global head of Coin Systems. Christine and Naveen, welcome to the show. Christine Moy: Thanks for having us. Lau: I love that despite
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Blockchain firm Prysmatic Labs announced the launch of a new test network for the Ethereum 2.0 blockchain.According to a June 10 announcement, Prysmatic Labs is launching the Onyx Ethereum 2.0 testnet — which represents an improvement over the previous Topaz testnet.The last step before launching mainnetPer the announcement, the Onyx
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