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Solana-based decentralized futures exchange Cypher Protocol halted its smart contract after an estimated $1 million exploit.On Aug. 7, Cypher alerted its 13,500 followers on X (formerly known as Twitter) that it had experienced a security incident and had thus frozen its smart contract.The team added it is investigating the cause
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The protocol’s contracts are now frozen as contributors attempt to make contact with hackers to negotiate a return of funds. Source
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The largest staking service provider also crossed $15 billion in total value locked, a level not seen since May 2022. Original Source
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MakerDAO, one of the early pioneers of decentralized finance, has sparked criticism over its decision to block virtual private network (VPN) users from accessing its recently launched lending platform, Spark Protocol.At the time of writing, VPN users that attempt to access the Spark Protocol website will be met with an
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Three main elements in the Hooked ecosystem are gamified learning, a mechanism for incentives and an integrated infrastructure of businesses. Hooked Protocol follows a three-pronged approach to incentivize Web3 adoption: Gamified learning Hooked Protocol has adopted an immersive and inquisitive Web3 education methodology. Hooked Academy Sensei enables users to
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Metaverse platform The Sandbox will require Know Your Customer (KYC) verification for its staking processes, according to an Aug. 3 announcement. The announcement stated that only verified users could deposit The Sandbox (SAND) tokens, which are native to the platform, and claim staking rewards, while non-verified users will be placed into
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Despite using crypto wallets for almost a decade, just a few weeks ago I fell for a scam. Many times, I have made some kind of error on a transaction. Ledgers are immutable, but transactions need not be. Any contract worth trusting should be able to reverse transactions that can
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DeFi lending protocol, Abracadabra Money, is currently debating a proposal to boost the interest rate in its CRV lending markets as it
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All proceeds from such a strategy will be kept in Abracadabra’s treasury and be used to reduce the DAO risk associated with the liquidity conditions associated with CRV. Source
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A non-profit organization dedicated to growing the development of nonfungible tokens (NFTs) on Bitcoin (BTC) has been launched by the team behind the Bitcoin Ordinals protocol.The California-based nonprofit called the Open Ordinals Institute will bolster the Ordinals protocol by providing funding to the team’s core developers, which includes the project’s
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