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Ethereum staking protocol Lido Finance has assured both Lido DAO (LDO) and staked-Ether (stETH) tokens remain safe despite hackers allegedly exploiting a known security flaw in LDO’s token contract.Lido didn’t confirm any exploits, but acknowledged the security flaw was known and reassured LDO and stETH funds remain safe in response
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The crypto verse has recently witnessed a massive splash as an unidentified entity dove deep into the Ethereum ecosystem. A recent report
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Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawals this week.Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,840 stETH
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It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals.On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. The whopping
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The Lido liquid staking protocol has enabled Ether withdrawals for the first time, according to May 15 data from Parsec Finance. Over 260 Lido Staked Ether (stETH) was redeemed for its underlying Ether (ETH) in the first three hours, worth about $500,000.stETH withdrawals dashboard:- individual & aggregate withdrawal requests.- current withdrawal
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With the crypto economy experiencing significant gains over the past week and the price of ethereum rising 11.9%, the market capitalization of Lido’s staked ether has increased to $10.3 billion. This recent increase has propelled the token’s overall market valuation to the ninth-largest position, according to the crypto market capitalization
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Data sourced from Etherscan indicates that the exploiter first swapped 95,360 ETH worth roughly $157 million on DeFi Aggregator OpenOcean and then transacted smaller amounts capital through several decentralized finance (DeFi) protocols such as Kyber Network and 1Inch. Original Source
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Unlike staked ether (stETH), or bridge protocols which allow you to “transport” tokens to different protocols (ie, sending Solana-based tokens to Ethereum via Wormhole), wETH doesn’t have a centralized entity. Immutable, open-source smart contracts govern how wETH and ETH interact, and it’s simple to confirm that the wETH contract is
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Users wishing to participate in staking without losing liquidity have turned to liquid staking solutions like Lido, which take their ETH, stake it, and give them a stETH token in return. This token tends to trade around the price of ETH on the open market; it will eventually be exchangeable
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"ETH has undergone a rapid change in narrative over the past week with speculators purely focused on the upcoming 'merge' as a catalyst for appreciation," one observer said. Original Source
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